ECU Silver Discovers Another New Vein on Velardena Property

TORONTO, ONTARIO -- (Marketwire) -- 12/20/10 -- ECU Silver Mining Inc. (TSX: ECU) is pleased to announce that it has discovered another new vein, the G1-lower vein, in the upper levels of the Santa Juana mine located in the main Velardena Property. Assays included a section that graded 11.39 grams per tonne (g/t) gold (Au), 861 g/t silver (Ag), 3.64% lead (Pb) and 3.50% zinc (Zn) over 0.80 meters (2.6 feet).

Michel Roy, CEO and Chairman of ECU stated, 'The most interesting aspect of this new discovery is that it confirms the potential for the North-West extensions of the known veins as well as opens the possibility of discovering additional veins in that area. The discovery also adds over 100 meters (328 feet) to the known extension of the Santa Juana veins system, which was calculated at 500 meters (1,640 feet) beforehand.'

The G1-lower vein was recently opened on level 17, over a strike length of 123 meters (404 feet) grading 5.73 g/t Au, 130 g/t Ag, 1.94% Pb and 1.37% Zn over an average width of 0.45 meters (1.5 feet), including a section that graded 11.39 g/t Au, 861 g/t Ag, 3.64% Pb and 3.50% Zn over 0.80 meters (2.6 feet). The G1-lower vein was discovered while the Company was investigating the North-West extensions of a system of parallel veins, the CC, C0, C1, G1 and B's veins. The G1-lower vein is parallel to the other veins and is between the CC and G1 veins. It is an entirely new vein, not included in the Company's N.I. 43-101 mineral resource report.

Stephen Altmann, President of ECU added, 'The underground development on the adjacent Velardena and Chicago properties continues to pleasantly surprise us. At Velardena, we continue to see evidence of richer and thicker veins as well as new extensions of known vein systems. At Chicago, the newly discovered veins support the potential for a system of veins comparable to the extensive veining on the Velardena Property.'

Additional Information

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. 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 (0.6 million gold equivalent) ounces in the measured and indicated category and 391 million silver equivalent (6.0 million gold 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

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

011 52 871 747 5750

Torreon, Mexico


ECU Silver Mining Inc.

Stephen Altmann

President

(416) 366-2428

Toronto, Canada


ECU Silver Mining Inc.

Mark Butler

Investor Relations

1 888 513 3444

Toronto, Canada