ECU Silver Signs Concentrate Sales Agreement

TORONTO, ONTARIO, Sep 29, 2008 (MARKET WIRE via COMTEX) -- ECU Silver Mining (CA:ECU: news, chart, profile) (the "Company") is pleased to announce that it has entered into a contractual agreement with MK Metals Trading S.A. de C.V., a division of Nexxtrade ("MK Metals"), an international broker, for the sale of both our lead concentrates and our zinc concentrates. This is an important event for the Company as it underscores the ability of the Company to realize value for its lead and zinc concentrates in a market where sales of mineral concentrates to smelters has been very difficult and limited for several junior mining companies.

Several months ago the Company opted to curtail the processing of mineralized material for a number of reasons including the fact that our mining efforts were beginning to interfere with our exploration activities in the region we were exploring at that time. Since then, our exploration has advanced to other areas and with the ongoing strength in commodity prices, we resumed the processing of our mineralized material. The Company's main focus continues to be on exploration and over the past several months we have reported tremendous successes with our exploration program and we expect to provide an updated N.I. 43-101 as soon as possible. Coincident with our recent exploration successes, we have been milling at our flotation plant in Velardena at an approximate rate of 200 tonnes per day (tpd) where we are generating a lead concentrate, a zinc concentrate and a pyrite/gold concentrate. The majority of our silver product is incorporated within the lead concentrate whereas the majority of our gold is within the pyrite/gold concentrate.
The lead and zinc concentrates can be sold to various smelters around the world. As such, we have secured the sale of our concentrates through an international broker who can package several small quantities of concentrates from junior producers and offer global smelters concentrate packages in sizes that can essentially compete with major producers. In this way, these brokers can negotiate more attractive terms with the smelters thereby allowing small producers to obtain respectable prices for their concentrate.

The Company has sold MK Metals an initial inventory of 400 tonnes of lead concentrates and 450 tonnes of zinc concentrates. The shipments started on Saturday and will be finished this week. The total value of these shipments will be approximately US$1.2 million.

With regard to our gold/pyrite concentrate, we have conducted several metallurgical tests to optimize the Net Smelter Return (NSR) value of the pyrite/gold concentrate. We are in the process of evaluating certain options for this concentrate and once we have identified the best option we will report it to our shareholders. We currently have a pyrite/gold concentrate inventory of 7,000 tonnes containing approximately 5,000 ounces of gold and 35,000 ounces of silver.

The ability to realize value for our concentrates is exceedingly important in that it provides additional integrity to the quality of our expanding mineral resource. We expect that the expansion of our mineral resource will incorporate the successful results we have announced over the past several months, namely; i) the discovery of both the western extension (press release dated August 29, 2007) and the eastern extension (press releases dated March 31 and May 28, 2008) of the main Terneras Vein on the main Velardena Property, ii) the discovery of a new vein at Chicago (press release dated May 8, 2008) which provides ongoing evidence of the exploration potential on the Chicago Property, iii) very encouraging results at our San Diego joint venture property (press release dated June 23, 2008) and iv) our most exciting discovery this year, the massive sulphide lenses at depth (press release dated July 9, 2008) which we believe are located very close to the intrusive which created the source of mineralization for the extensive system of veins at Santa Juana on the main Velardena Property.

Additional Information:
ECU Silver Mining Inc. is focused on the exploration, development and mining of gold, silver and base metals at its Velardena District Properties in Durango, Mexico. The area is comprised of three properties, the Main Velardena Property, the Chicago Property and the San Diego Property. The properties are located near to each other and include five historical mines - Santa Juana, Terneras, San Mateo, San Juanes, and the San Diego mine. ECU's goal is to establish a significant polymetallic mineral resource in the heart of Mexico. ECU's mission is to become a pre-eminent silver and gold producer through the development of existing, and additional potential resources at Velardena.