TORONTO, ONTARIO--(Marketwire - Aug. 5, 2011) - ECU Silver Mining Inc. ("ECU") (News - Market indicators) is pleased to announce that it has filed its management information circular (the "Information Circular") dated July 29, 2011 for the upcoming special meeting (the "Meeting") at which ECU's securityholders (the "Securityholders") will be asked to consider and vote upon the previously announced plan of arrangement (the "Arrangement") which would result in the business combination of ECU and Golden Minerals Company ("Golden").

The Meeting is scheduled to be held at 11:00 a.m. (Eastern time) on August 30, 2011 at the Crescent Room of Hôtel Le Crystal, 1100 rue de la Montagne, Montreal, Québec H3G 0A1. Further details are set forth in the notice of meeting that is included with the Information Circular. The record date for determining the Securityholders entitled to receive notice of and vote at the Meeting is the close of business on July 26, 2011.

Golden will also be holding its special meeting of stockholders to approve the issuance of shares contemplated by the Arrangement on August 30, 2011. Golden stockholder approval is a condition to the consummation of the Arrangement.

The Information Circular contains details concerning the Arrangement, the requirements for the Arrangement to become effective and the procedure for exchanging securities of ECU, voting at the Meeting and other related matters, together with detailed information concerning ECU and Golden and their respective businesses and affairs. Securityholders are urged to carefully review the Information Circular and accompanying materials (collectively, the "Meeting Materials") as they contain important information regarding the Arrangement and its consequences to Securityholders.

If the Arrangement is approved by the Securityholders at the Meeting on August 30, 2011, ECU intends to apply to the Superior Court of Québec for a final order approving the Arrangement at a hearing scheduled for August 31, 2011. If the final order is granted and all other conditions precedent are satisfied or waived at such time, ECU expects that the Arrangement will be completed and become binding upon ECU, Golden and all Securityholders on September 2, 2011.

ECU has commenced mailing the Meeting Materials to the Securityholders. Copies of the Meeting Materials are also available electronically on the SEDAR website (www.sedar.com) and ECU's website (www.ecu.ca).

For further information or assistance in connection with the Arrangement, including assistance in voting your securities or to request additional copies of the Meeting Materials, Securityholders should contact Kingsdale Shareholder Services Inc. at 1-877-659-1819.

Cautionary Statement on Forward-Looking Information

This press release contains forward-looking statements within the meaning of applicable Canadian securities laws, including, but not limited to, forward looking statements in respect of the Arrangement. There are risks inherent in the nature of the proposed transaction, including risks regarding the integration of the two entities, incorrect assessments of the values of the other entity, and failure to obtain the required securityholder, court, regulatory and other third party approvals. This press release also contains forward-looking statements and information concerning the anticipated timing and completion of the Arrangement. ECU has provided these anticipated times in reliance on certain assumptions that it believes are reasonable at this time, including assumptions as to the timing of receipt of the necessary regulatory and court approvals, and the satisfaction of and time necessary to satisfy the conditions to the closing of the Arrangement. These dates may change for a number of reasons, including inability to secure necessary regulatory or court or other approvals in a timely manner or the need for additional time to satisfy the conditions to the completion of the Arrangement. In addition, the Arrangement is subject to a number of conditions which are typical for transactions of this nature. Failure to satisfy any of these conditions may result in the termination of the agreement to combine ECU and Golden and the Arrangement not being completed. Readers are cautioned that the foregoing list of factors is not exhaustive. Forward-looking statements are typically identified by words such as: "believe", "expect", "anticipate", "intend", "estimate" and similar expressions, or are those which, by their nature, refer to future events. Although ECU believes that such statements are reasonable, they can give no assurance that such expectations will prove to be correct. Additional information on these and other factors that could affect ECU's, or the combined company's, operations or financial results are included in reports on file with applicable securities regulatory authorities, including the Information Circular, and may be accessed through the SEDAR website (www.sedar.com) or ECU's website (www.ecu.ca). The forward-looking statements and information contained in this press release are made as of the date hereof. ECU undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless expressly required by applicable securities laws.

About ECU:

ECU Silver Mining Inc. is focused on the exploration, development and mining of silver, gold and base metals at its Velardeña District Properties in Durango, Mexico, where it holds an 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. ECU also owns and operates two mills with a combined capacity of 840 tonnes per day.