ECU Silver Releases First Quarter Results for 2011

TORONTO, ONTARIO -- (Marketwire) -- 06/15/11 -- ECU Silver Mining Inc. (TSX: ECU) reports that it has recently released its consolidated financial statements for the first quarter ended March 31, 2011 (Q1 2011) and the related management's discussion and analysis of financial position and results of operations (MD&A). The Company increased revenues by 88% and cash flows from mining operations by 149% over the same period ending March 31, 2010 (Q1 2010). The Q1 2011 financial statements were prepared in accordance with International Financial Reporting Standards (IFRS).

The Company generated net revenues from the sale of dore bars and concentrates for a total of $5,966,092, representing a 6.9% decrease over Q4 2010. The decrease in revenue is a result primarily of lower gold grades. Overall grades are expected to increase as mining moves into new development stopes which have not been impacted by historical mining of high grade material.

The revenues were applied against cash development costs of $4,383,608 bringing the net positive cash flow to $1,612,484 for Q1 2011. The cash development costs were 14.3% higher than Q1 2010 due to increased labour and materials in the mine and at the mills.

Cash balance as at March 31, 2011 was $1,219,934, an increase of 254% over the cash balance as at December 31, 2010.

In Q1 2011 the operations generated silver (Ag) totaling 85,600 ounces and gold (Au) totaling 1,893 ounces. In addition, the mines generated 161,977 pounds of lead (Pb) and 172,736 pounds of zinc (Zn). Expressed in terms of silver equivalent (AgEq) ounces, and based on average commodity prices over the period, total metal output was approximately 180,000 AgEq ounces.

Shipments for Q1 2011 consisted of: 80,118 Ag ounces, 2,553 Au ounces, 108,215 Pb pounds, and 164,965 Zn pounds. Expressed in terms of silver equivalent ounces, and based on average commodity prices over the period, the Company shipped approximately 201,000 AgEq ounces during this period.

During Q1 2011, the Company reported a loss of $2,081,960, or $0.007 per share, versus $1,915,436, or $0.006 per share, over the same period in Q1 2010.

Copies of the financial statements and related MD&A can be found on SEDAR at www.SEDAR.com.

About ECU Silver

ECU Silver Mining Inc. is focused on the exploration, development and mining of gold, silver and base metals at its Velardena District Properties in Durango, Mexico. The Company holds a NI 43-101 compliant mineral resource of 40 million silver equivalent ounces in the measured and indicated category and 391 million silver equivalent ounces in the inferred category. The Company also owns two mills with a combined capacity of 820 tonnes per day. ECU's mission is to become a pre-eminent silver and gold producer through the development of its existing and potential mineral resources at Velardena.

Cautionary Statements

Readers are cautioned that there are no assurances that all or any part of ECU Silver's mineral resource will be economically viable. Until a prefeasibility study is completed, there are no assurances the release of an updated mineral resource will be economically viable.

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 27E of the Exchange Act. Such statements include, without limitation, statements regarding the future results of operations, performance and achievements of the Company, including potential property acquisitions, the timing, content, cost and results of proposed work programs, the discovery and delineation of mineral deposits/resources/reserves, geological interpretations, proposed production rates, potential mineral recovery processes and rates, the proposed construction of a mill, business and financing plans, business trends and future operating revenues. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located, significant downward variations in the market price of any minerals produced, the Company's inability to obtain any necessary permits, consents or authorizations required for their activities, to produce minerals from their properties successfully or profitably, to continue their projected growth, to raise the necessary capital or to be fully able to implement their business strategies. All of the Company's public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this Press Release.

Contacts:

ECU Silver Mining Inc.

Michel Roy

Chairman and CEO, Torreon, Mexico

011 52 871 747 5750


ECU Silver Mining Inc.

Stephen Altmann

President, Toronto, Canada

(416) 366-2428


ECU Silver Mining Inc.

Mark Butler

Investor Relations, Toronto, Canada

(905) 602-4248
www.ecu.ca