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Re: News Release - Thursday, February 21, 2008
ECU Provides Corporate Update
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TORONTO, ONTARIO, February 21, 2008 - ECU Silver Mining Inc. ("ECU
Silver") (TSX:ECU) would like to provide its shareholders with a
corporate update.
The stock market for junior companies in the mining sector has recently
been quite challenging despite the ongoing strength of commodity
prices. While we believe the market will be robust for the juniors over
the longer term, we are planning to take advantage of the current
strength in commodity prices and will resume mining operations and
milling at the Santa Juana mine beginning this quarter.
The commercial operations at the Santa Juana mine and Velarde�a mill
were temporarily suspended while we conducted several metallurgical and
processing tests of mineralized material from the mine. These tests are
essentially complete and we are now better positioned to resume mining
and milling operations. Since finalizing our 3-dimensional geological
model of the mineral resource for the NI 43-101 report, we have gained
a stronger understanding of the 3-dimensional behavior of our mineral
resource which will enhance our mining efforts.
The objectives of resuming mining and milling operations are to
highlight specific high-grade sectors of the mine, refine mining
methods, fine tune the metallurgical processes and generate cash flows
to help fund our exploration efforts. The primary focus of the Company
will continue to be on exploration.
We expect that the anticipated new revenues from our mining operations,
combined with receivables and current cash position, should be
sufficient to finance the 2008 exploration program. Consequently, based
on current expectations, we have no plans to issue new equity to fund
our 2008 exploration program.
The Company is completing the outline of its 2008 exploration program
and will be providing an exploration update to our shareholders
immediately after finalizing the details.
For additional information please contact:
ECU Silver Mining Inc.
Stephen Altmann, President
Ph : 416-644-8640
Email: ecu@ecu.ca
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Copyright (c) 2008 ECU SILVER MINING INC. (ECU) All rights reserved.
For more information visit our website at http://www.ecu.ca/ or send
mailto:ecu@ecu.ca
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