TORONTO, ONTARIO--(Marketwire - Aug. 11, 2009) - ECU Silver Mining Inc. (TSX:ECU) is pleased to announce that, next week, the Governor of the State of Durango will officially inaugurate our Oxide Mill which we recently acquired and has been in operation since April of this year. The Governor's visit signifies the recognition by the Durango State Government that our Velardena Project is of significant importance with regard to the development of the mining industry in the Durango district. The acquisition of the Oxide Mill has allowed ECU to create new employment in a difficult economic period and we are poised to create even more jobs once we finalize plans for a larger Sulphide Mill to handle the treatment of our significant sulphide mineral resources. In a period when most companies have been reducing employment, ECU added 90 direct jobs and invested about US$12M in the purchase and refurbishment of the Oxide Mill including further developing its mines.
In July the mill processed 14,207 tonnes in 28.5 days for an average of 498 tonnes per day, the mill did not operate for 2.5 days for the miner's holidays. The maximum production for one day was of 578 tonnes, well above the nameplate capacity of 500 tonnes per day. The feed came from various sources, stopes, mine development and old low grade stockpiles as the mine focused on reaching new areas of production and sinking the shaft of the Santa Juana mine to level 19.
Detailed production numbers for July will be available later this month when we should also have news on the impact of a new in-situ leaching process we added in July to improve recoveries and on the progress in treating the pyrite concentrates we have accumulated.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
ECU Silver Mining Inc.
Michel Roy
Chairman and CEO
011 52 871 747 5750
ECU Silver Mining Inc.
Stephen Altmann
President
(416) 366-2428
Fax: (416) 366-8131 (FAX)
www.ecu.ca
Source: ECU Silver Mining Inc.
