Golden Tag Resources Ltd.

Golden Tag Resources Ltd.
ECU Silver Mining Inc.

ECU Silver Mining Inc.

April 18, 2007 07:58 ET

Golden Tag & ECU Silver Announce High Grade Silver-Lead-Zinc Values in Principal Veins With Extensive Lateral and Depth Extensions, San Diego Joint Venture, Mexico

MONTREAL, QUEBEC--(CCNMatthews - April 18, 2007) - (Golden Tag Resources Ltd. (TSX VENTURE:GOG) ("Golden Tag") and ECU Silver Mining Inc. (TSX VENTURE:ECU) ("ECU") are pleased to report that drilling activities on the San Diego property, Durango State, Mexico, are returning excellent values in silver with commonly associated high-grade lead and zinc mineralization. Fifteen wide-spaced drill holes have to date confirmed:

- the continuity of five of the principal veins both along strike and to depth across the property. Drilling shows that all veins (Montanez, La Rata, La Cruz, Cantarranas, El Jal) remain open at depth;

- Veining on the property is also associated with broad zones of polymetallic mineralization as skarn zones, as sulphide rich stringer and breccia zones, and/or in association with up to a 40 metre-wide fault zones;

- Results from the drilling support significant potential for large tonnage zones in the area of the western side of the central diorite intrusion, particularly at depth.

Two holes (SD-07-13 and -15) have been completed but assays are currently unavailable. Three additional holes (P2, P3 and P4 of Figure 1) in the northwest sector of the property testing the lateral extension of strong mineralization in the La Rata and La Cruz Veins are in progress. Future work is planned to test the central area of the property where broad zones of mineralization have been encountered as skarns, stringer zones or in association with broad fault zones.

Golden Tag and ECU Silver initiated the first program of diamond drilling ever undertaken on the property in September 2006. A total of 17 wide-spaced holes for 5,268 metres of drilling have been completed to date, Figure 1. Results from drilling are summarized in Tables 1 and 2 (also available at Highlights of these results are discussed below as "Principal Polymetallic Veins" and as "Broad Zones of Polymetallic Mineralization".

A/Principal Polymetallic Veins:

The Montanez Vein has been confirmed over a strike length in excess of 600 metres. The vein strikes ESE and dips 80S and remains open for expansion to east and at depth. Highlights from drilling include:

- 3,680 g/t Ag over 0.75 m (SD-06-01) with 7.85% Pb and 10.90% Zn;

- 2,764 g/t Ag over 1.05 m (SD-06-01A) with 8.89% Pb and 6.13% Zn;

- 1,016 g/t Ag over 1.16 m (SD-06-02); and

- 116 g/t Ag over 4.55 m (SD-07-12) with 2.07 % Pb and 2.13 % Zn.

Locally, a second vein has been discovered adjacent to the Montanez Vein, the Monta B Vein (Table 2), and has returned similar high grade results:

- 1,245 g/t Ag over 0.55m (SD-06-10) with 0.91% Pb and 2.24% Zn; and,

- 550 g/t Ag over 0.83 m (SD-06-01) with 3.46% Pb and 5.69% Zn.

The vein is open at depth.

The La Cruz Vein has been confirmed over a strike distance in excess of 350 metres and remains open for further extension (proposed holes P2, P3, P4). The vein strikes ESE and dips 60-70S. Highlights from drilling include:

- 337 g/t Ag over 0.92 m (SD-06-04);

- 520 g/t Ag over 1.55 m (SD-06-10A).

The vein intersects and crosses the La Rata vein at depth. In the area of intersection wallrocks are often brecciated/fractured over a wide interval and mineralization consists of stringer-style skarn-hosted mineralization occurring near the large, central diorite intrusion which cores the property:

- 237 g/t Ag over 10.61 m (SD-06-02) with 3.65 % Pb, 1.67 % Zn.

The eastern extension of the vein may merge with skarn contact zones. The vein remains open in both strike directions but more to the West. The vein is open at depth.

The La Rata Vein has been confirmed over a distance in excess of 350m and remains open for further expansion. The vein strikes E-W and is sub-vertical, crossing the La Cruz vein in a wide stringer zone at depth. Widths in the vein also appear to increase with depth. Highlights from drilling include:

- 301 g/t Ag over 1.0 m (SD-06-04) ; and,

- 367 g/t Ag over 1.50 m (SD-06-05)

The La Rata Vein contributes to the wide breccia - fracture -skarn style of mineralization in hole SD-06-02. The vein remains open on strike in both directions but more to the West. The vein is open at depth.

The El Jal Vein has a drill confirmed strike length in excess of 300-400 metres. The vein trends NE and dips 60SE. Highlights from drilling include:

- 1,000 g/t Ag over 0.20m (SD-06-09) with 20.3% Pb and 7.53% Zn; and,

- 691 g/t Ag over 0.90 m (SD-07-14) with 6.2% Pb and 4.24% Zn.

The vein remains open in both direction and assays from hole -13 are pending.

The Cantarranas Vein has been confirmed over strike length of 200m. The vein strikes eastward and dips at 90 degrees. Highlights from drilling include:

- 767 g/t Ag over 0.90 m (SD-07-11) with 9.29% Pb and 8.94% Zn

- 1,314 g/t Ag over 0.85 m (SD-07-12) with 11.99% Pb and 3.85% Zn.

Only cursory drilling has been undertaken on two additional vein sets on the property - El Trovador and San Jose. In addition to the known veins and the Monta B Vein discovery, several other veins have been identified during the program. These remain largely un-correlated and open for expansion. In particular, the SD Vein, occurring near surface and lying just north of the Cantarras vein, returned very significant values of 1,130, 1,090 and 1,725 g/t Ag (Table 2) over narrow widths. This vein remains open at depth and along strike.

Topography on the property changes abruptly going from north to south. The Trovador Vein located near the southern property limit lies at 1,450 m of elevation, while the most northerly El Jal Vein is at 1, 350 m. This situation increases the mining potential of the main Veins, and more especially the La Cruz and La Rata Veins that would be readily amenable to extraction from adits located on hill side.

B/Broad Zones of Polymetallic Mineralization

Drill results confirm that the La Rata/La Cruz and Montanez Veins are associated with broad mineralized Fault Zones (FZ) and that these structures become wider at depth. The three veins differ from the Cantarranas and El Jal Veins which represent narrow veins infilling pre-existing fractures. In current drilling the broad fault zones represent wide areas of enhanced rock permeability due to microfracturing of the wall rocks in the fault zones. The zones act as conduits for circulation of ore-bearing hydrothermal fluids and these zones may be linked to an underlying epithermal system.

Hole SD-07-07, drilled 150 m below the previously reported intersection of 237 g/t Ag, 3.65 % Pb, 1.67 % Zn over 10.61 m from hole SD-06-02 (December, 2006) clearly shows that the Rata Vein coincides with a FZ that is getting wider at depth. In hole #07, silver, lead & zinc stringer-type mineralization was encountered in a Fault Zone over a 100-m long intercept (40 m true width) for which detailed results are given in Table 1. This intersection compares with holes #03 and #02, drilled above hole #07 and on the same section, that respectively returned true width intersections of 3m (SD-06-03) and 6m (SD-06-02) for the Rata Vein. Hole SD-07-07 confirms both the continuity and the width increase of the structure at depth.

Sulphide-bearing stringers within the FZ occur in a skarn package intruded by porphyritic monzonite sills. Some massive pyrite sections were also encountered in which gold values of 1.15 g/t Au over 2 m (including 2.65 g/t Au over 0.65 m) were obtained for the first time in the campaign and support the potential for an underlying epithermal system.

Drill holes SD-06-09 and SD-07-12 test the south-eastern extension of the Montanez Vein and also show that, in this sector, the Montanez Vein is hosted in a wide FZ that truncates the southern contact of a small diorite stock.

Drill hole # 09 intersects a near-surface, 13.45 m-long FZ that returned 119 g/t Ag over 2.30 m (from 13.70 to 16 m) and, 169 g/t Ag with 0.6 % Zn over 3.55 m (from 23.60 to 27.15 m).

Hole SD-07-12 intersected the FZ at depth from 386 to 398.90 m (12.90m along hole). Best results for this zone are: 0.331 g/t Au, 67 g/t Ag, 1.32 % Pb and 1.29 % Zn over 12.90 m including, 0.47 g/t Au, 116 g/t Ag, 2.07 % Pb and 2.13 % Zn over 4.55 m. These results were obtained from a microfractured porphyritic monzonite with sections of semi-massive to massive sulphides.

Readers are cautioned that until a pre-feasibility study is completed, there are no assurances that these mineralized zones will be economically viable.

Golden Tag Resources and ECU are encouraged by the results of the current drilling program. There remains very good potential for future drilling to confirm the continued depth extension of high grade, polymetallic veins. In addition, good upside discovery potential occurs for skarn, stringer and fault-related zones of mineralization within a deeper epithermal system.

Quality Control:

The San Diego drilling program is supervised by Ms. Kateri Marchand, P.Geol. and Qualified Person under National Instrument 43-101 guidelines and has confirmed all disclosures in this release. Assay samples are taken from NQ/BQ size drill core cut in half with one half sent to a commercial laboratory and other half retained for future reference. All the samples represent the core length and may not be representative of the true width. A strict QA/QC program is followed which includes mineralized standards and blanks for each batch of samples. Analyses were performed by ALS Chemex accredited assay laboratories of Guadalajara (Mexico) and Vancouver (Canada). Check samples are also sent to SGS assay laboratory of Durango (Mexico).

Mr. Michel Roy, P. Geo., a "qualified person" within the meaning of NI 43-101, prepared the technical information disclosed in this news release.

ECU Silver Mining Inc. is a mid-tier Gold, Silver, Zinc and Lead producer in the prolific mining district of Velardena, Mexico where historically over 500,000 ounces of gold and 250,000,000 ounces of silver have been mined. Full scale production began in May 2005 at the Company's Santa Juana mine.

Golden Tag Resources Ltd. is a junior exploration company actively exploring for high grade gold and silver deposits at the San Diego silver project in Durango State, Mexico; the Aquilon Main and Aquilon Extension gold projects in James Bay, Quebec; and the McCuaig gold project in Red Lake, Ontario.

Statements in the release that are "forward-looking statements" are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially. We undertake no duty to update any forward-looking statement to conform the statements to actual results or changes in our expectations.

The tables and the figure are available at the following address:

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Golden Tag Resources Ltd.
    Marc A. Carrier, President
    514-426-8543 (FAX)
    ECU Silver Mining Inc.
    Stephen Altmann, President
    Richard Buzbuzian, Vice President