ECU Silver files 2007 financials, AIF

ECU Silver Mining Inc (C:ECU)
Shares Issued 242,609,558
Last Close 3/31/2008 $1.93
Tuesday April 01 2008 - News Release

Mr. Stephen Altmann reports

ECU SILVER FILES FISCAL 2007 ANNUAL FINANCIAL STATEMENTS

ECU Silver Mining Inc. has released its consolidated financial statements for the year ended Dec. 31, 2007, and the related management's discussion and analysis of financial position and results of operations. The company has also filed its annual information form in respect of the year ended Dec. 31, 2007.

Fiscal 2007 was another dynamic year for ECU during which many exciting developments happened within the company. ECU continued to make significant progress in advancing its major gold and silver discoveries. It added to the breadth and depth of its management team with several key senior management hires. It also added to the strength of its balance sheet by successfully completing additional financing that allowed it to continue its existing exploration and development program.

While equity markets for junior mining companies have been challenging in recent months, ECU believes that the continuing strength of commodity prices, combined with the significant competitive advantages of the company and its properties, will ensure a more robust valuation for ECU over the long term.

Velardena district properties

ECU's main focus remains the Velardena district properties in Mexico, where it has already defined a substantial mineral inventory, substantiated by an independent National Instrument 43-101-compliant report. This inventory presently consists of measured and indicated resources of 38 million ounces of silver equivalent and inferred resources of 179 million ounces of silver equivalent. In addition, ECU posted a defined potential of an additional 465 to 800 million ounces of silver equivalent. Conversion of this potential would well make Velardena a very significant polymetallic silver deposit.

In addition to ECU's primary Santa Juana and San Mateo corridors, there are still several unexplored regions within the Velardena properties. Work at Santa Juana has progressed rapidly. Work at San Mateo has also advanced, where the company continues to yield positive results. Most recently, the company has reported encouraging results east of the major Terneras vein. Moreover, the company is driving a new ramp that will significantly enhance its access to deeper drilling targets. As such, the ramp provides a clear path to make sizable mineral resource additions.

Exploration on a silver platter

Velardena is located in Durango state of central Mexico. ECU's properties are located near a cluster of historical mines, which is significant, as one of the best places for a new mine is where old mines already exist. This area of the country has an excellent mining culture, with proven geology and excellent infrastructure already in place. The location is convenient to a skilled labour market and ECU already has a work force of more than 260 people with diverse local and international mining experience.

Outlook

As the company expands its known and identified deposits, it is important to have the right team and the right infrastructure in place to take the company to the next level. ECU has both. And, since finalizing its 3-D geological model of its mineral resources for the NI 43-101 report, the company has gained an even stronger understanding of the 3-D behaviour of these resources which will enhance its mining efforts in 2008.

Looking ahead, the company believes that the prospects for the industry are strong, and that ECU is well positioned to capitalize on these trends. The company's primary focus this year will remain on exploration, although it will also consider select acquisition opportunities that would complement existing assets.

The company firmly believes that the future of ECU looks very promising.

© 2008 Canjex Publishing Ltd.