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ECU SILVER REPORTS GOLD AND
SILVER SHIPMENTS AND PRODUCTION IN FOURTH QUARTER
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TORONTO, ONTARIO � February 15, 2011 � ECU Silver Mining Inc.
(TSX: ECU) (�ECU� or the �Company�) is
pleased to announce silver and gold output for the fourth quarter of
2010 (�Q4 2010�) from its mining operations at Velarde�a
in Durango State, Mexico.
Shipments for Q4 2010 consisted of 81,071 ounces of silver; 5,983
ounces of gold; 146,985 pounds of lead; and 190,220
pounds of zinc. Expressed in terms of silver equivalent ounces, and
based on commodity prices averaged over the quarter, the Company shipped
404,195 silver equivalent ounces (�AgEq
oz�) during this period. Compared to the third quarter of 2010 (Q3
2010), silver shipments increase by 12%, gold shipments were
unchanged, lead shipments increased by 4% and zinc shipments
increased by 190%. Shipments for Q4 2010, on a silver equivalent
basis, using equivalent commodity price ratios for Q4 2010 and Q3
2010, was up 4% versus Q3 2010.
In Q4 2010 the operations generated silver totalling
92,786 ounces and gold totalling 2,364
ounces. In addition, the mines generated 134,937 pounds of lead and
125,401 pounds of zinc. Expressed in terms of silver equivalent
ounces, and based on commodity prices averaged over the quarter,
total metal output was 225,596 AgEq oz, an
increase of 1% compared to Q3 2010, using equivalent commodity price
ratios for Q4 2010 and Q3 2010.
Table 1 - Milling and Mining Operations Summary
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Metal Shipped
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Metal Output
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Silver
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81,071 oz
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92,786 oz
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Gold
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5,983 oz
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2,364 oz
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Lead
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146,985 lb
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134,937 oz
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Zinc
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190,220 lb
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125,401 oz
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Silver Equivalent
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404,195 oz
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225,596 oz
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Mineralized material mined for silver and gold averaged 92 g/t
and 1.77 g/t, respectively, a decrease of 38% for silver and 41% for
gold compared to the first nine months of 2010 while milling grades
averaged 94 g/t and 1.97 g/t for silver and gold, respectively, an
increase of 29% for silver and
decrease of 22% for gold compared to the first nine months of 2010.
During the quarter, the Company sold 5,907 tonnes
of gold/pyrite concentrate containing 3,757 ounces of gold. The sales of the gold/pyrite stockpile was completed
in the month of January. The Company is now in discussions to sell
gold/pyrite concentrates from production at its sulphide
mine.
About ECU Silver
ECU Silver Mining Inc. is focused on the exploration, development and
mining of gold, silver and base metals at its Velarde�a
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 Velarde�a.
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President, Chairman and CEO
Toll free: 1 888
513 3444
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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.
The Toronto Stock Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the content of this
Press Release. 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.
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