ECU Silver Mining Inc. (TSE:ECU)

[Q-reus]

News Release - Monday, June 04, 2007
ECU Silver Mining Inc., Completes Previously Announced $28.75
Million Private Placement
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Toronto, June 4, 2007 -- ECU Silver Mining Inc. (TSX-V:ECU) ("ECU") is pleased to announce that it has closed its previously announced brokered private placement (the "Offering") of units ("Units") comprised of one common share (a "Common Share") and one-half of one Common Share purchase warrant (each whole warrant a "Warrant").

Blackmont Capital Inc. acted as lead agent in connection with the offering, together with a syndicate of agents that included, CIBC World Markets Inc., Desjardins Securities Inc., TD Securities Inc. and Salman Partners Inc. (collectively the "Agents").

As a result of the exercise in full by the Agents of their over-allotment option, ECU issued an aggregate of 12,500,500 Units pursuant to the Offering, for total gross proceeds of $28,751,150.

Each whole Warrant entitles its holder to acquire one Common Share at a price of $2.85 at any time on or before June 4, 2009. However, if the closing price of the Common Shares is equal to, or greater than, $3.75 for a period of 20 consecutive trading days any time after October 5, 2007, ECU may give notice to the holders of the Warrants and thereby accelerate the expiry date of the Warrants to the 30th day following the date on which such notice is given.

The Common Shares and the Warrants comprising the Units, as well as any Common Shares which may be acquired upon the exercise of the Warrants, will be subject to resale restrictions imposed under Canadian securities legislation until October 5, 2007. Completion of the Offering is subject to receipt by the ECU of all necessary regulatory approvals.

ECU plans to use the net proceeds of this financing to fund mineral exploration and development on its properties as well as future property acquisitions and for general working capital purposes.

In reaction to this successful round of financing, Stephen Altmann, the President of ECU, stated: "ECU now boasts a broader base of institutional shareholders along with a strong working capital position. We are appropriately capitalized to further develop our flagship Velardena Project in Mexico. We thank our existing shareholders for their ongoing support and we welcome our new shareholders to what we believe will be an exciting time of significant growth and development for the Company."

ECU Silver Mining Inc. (www.ecu.ca) is engaged in gold, silver and base metals exploration and development, with mining operations located at the Velardena property in Mexico. This property includes five historical interconnected mines - Santa Juana, Terneras, San Mateo and San Juanes, as well as the San Diego mine. ECU is currently extracting vein material from one of these mines and processes its mineralized material at its own milling facilities located in Velardena.

The offering described herein has not been registered under the U.S.
Securities Act of 1933, as amended, and the securities may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell nor the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.

Disclosure regarding forward-looking statements

Note: This press release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include, without limitation, statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of ECU. These risks and uncertainties could cause actual results and ECU's plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice. ECU assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change.

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

For further information please contact:

Stephen Altmann, President, or
Richard Buzbuzian, Vice-President
ECU Silver Mining Inc.
[phone]
www.ecu.ca

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Copyright (c) 2007 ECU SILVER MINING INC. (ECU) All rights reserved.
For more information visit our website at http://www.ecu.ca/ or send mailto:[e-mail] =======================================================================