ECU Silver Begins Receiving Payments on Its Gold/Pyrite Concentrates
TORONTO, ONTARIO -- (Marketwire) -- 09/14/10 -- ECU Silver Mining Inc. (TSX: ECU) is pleased to report that it has begun to receive payments on the sale of its pyrite/gold concentrate stockpile.
As previously reported on July 13, 2010, ECU announced it had entered into an agreement with one of the world's largest independent commodities trading companies to sell ECU's gold/pyrite concentrates. The gold/pyrite concentrate is being shipped and processed at a metallurgical plant in the United States, owned by a global mining company.
ECU has begun receiving payment on shipments of an initial 10,000 tonnes from its stockpile of gold/pyrite concentrates. Shipments are planned at a rate of 1,500 to 2,000 tonnes per month, equivalent to approximately 965 to 1,285 ounces of gold per month.
Stephen Altmann, President of ECU said, 'The sale of our gold concentrate is an important step for ECU as it provides the Company with an added stream of cash as well as establishing a synergistic relationship in selling our gold/pyrite concentrate to a metallurgical facility that is ideally located and suited for the treatment of our gold/pyrite concentrate.'
Michel Roy, CEO and Chairman of ECU added, 'While ECU is generating revenue from the sale of its gold/pyrite concentrate, we are also generating revenues from all the mineralized material being treated at our processing facilities. Sulphide material is being treated at our flotation plant where we are generating revenues from lead/silver concentrates, zinc concentrates, and our gold/pyrite concentrates. Our oxide material is being processed and revenue is being generated from the sale of gold/silver dore bars.'
ECU Silver is also pleased to announce that it will be participating in the Denver Gold Forum on September 19 to 22, 2010 at the Hyatt Regency, Colorado Convention Center, Denver and the Company will also be participating in the Toronto Resource Investment Conference 2010 hosted by Cambridge House to be held at the Metro Toronto Convention Centre on September 26 to 27.
Cautionary Statements
Readers are cautioned that until a prefeasibility study is completed, there are no assurances these latest mineralized zones will be economically viable.
All widths are true widths. Samples were assayed at the ERSA laboratory in Torreon, Coahuila, Mexico which is currently in the process of being certified. Mr. Michel Roy, P. Geo., a 'qualified person' within the meaning of NI 43-101, prepared the technical information disclosed in this news release.
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
