ECU Provides Corporate UpdateTORONTO, ONTARIO, Feb 21, 2008 (Marketwire via COMTEX News Network) --
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 Velardena 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.
SOURCE: ECU Silver Mining Inc.
ECU Silver Mining Inc. Stephen Altmann President (416) 644-8640 Email: ecu@ecu.ca Website: www.ecu.ca
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