ECU Silver Mining Inc. (TSE:ECU)

[basserdan]

ECU Silver Finds New Mineralization in Upper Levels of the Santa Juana Mine

Tuesday May 3, 2011, 9:58 am

TORONTO, ONTARIO--(Marketwire - May 3, 2011) - ECU Silver Mining Inc. (TSX:ECU; OTC:ECUXF - News) is pleased to announce that it has uncovered additional high grade mineralization in the upper levels of the Santa Juana mine which is located in the main Velardena Property. This new mineralization averaged 1.64 grams per tonne (g/t) gold (Au), 324 g/t silver (Ag), 0.72% lead (Pb), 0.13% Zinc (Zn) and 0.35% Copper (Cu) over 3.8 meters (12.5 feet). This mineralization is additional to the mineral resources from the mine's lower levels that were included in the Company's last NI 43-101 mineral resource report.

The underground development at the Santa Juana mine has again identified high grade sulphide mineralization over and above those that were calculated in the Company's last mineral resource report, confirming that the potential resources at Santa Juana not only extend at depth and laterally, but above the current mineral resources as well.

A cross-cut on level 12 of the Santa Juana mine was recently opened which intersected one of ECU's major veins, the A-2 vein. Four veins, totaling 0.95 meters (3 feet) in width, were intersected with eight samples taken over 3.8 meters grading an average 1.64 g/t Au, 324 g/t Ag, 0.72% Pb, 0.13% Zn and 0.35% Cu, including a sample that graded 12.21 g/t Au, 4381 g/t Ag, 0.44% Pb, 0.19% Zn and 3.32% Cu over 0.2 meters (0.7 feet).

Sample   Width       Gold     Silver     Lead     Zinc   Copper 
            (m)   (Au g/t)   (Ag g/t)   (Pb %)   (Zn %)   (Cu %) 
 ------------------------------------------------------------------------------------------------------------------------------80606      0.2       9.01       1222     8.47     0.23     1.15 
 80609      0.2       1.42        213     2.10     0.14     0.32 
 80611      0.2       7.24       1634     0.45     0.23     1.59 
 80613      0.2       7.46        445     2.19     0.28     0.52 
 80612      0.2      12.21       4381     0.44     0.19     3.32 
 80614      0.2       4.96        234     7.87     0.11     0.38 
 80616      0.4       6.10       1068     2.48     0.77     1.70 
 80619      0.3       5.31       1368     0.71     1.41     1.82 
 --------------------------------------------------------------- 
 Total      3.8       1.64        324     0.72     0.13     0.35

The host rock, where current development work is being completed, is a diorite and the mineralization occurs as parallel veins striking northwest and belonging to the Santa Juana corridor. The four veins represent the upward projection of the A-2 vein.

Michel Roy, CEO and Chairman of ECU stated, "The way in which this mineralization is occurring in this mineralized area, makes it an ideal area for future low cost mining. The mineralization is on the main access level, and with its potential extensive lateral continuity, it represents the potential for easier mining and more productivity. A big advantage of mining on level 12, the main access level, is that we do not have to use the shaft since access on the level is by a main adit, which means less handling and lower production costs."

This mineralization is not in the current mineral resource report and is significantly greater than the corresponding resource block, on the lower level 14, which graded 1.41 g/t Au and 98 g/t Ag over a diluted width of 1.0 meter.

The A-2 vein was recently opened on level 15.5 (see press release dated November 8, 2010) over a strike length of 127 meters (417 feet) grading 4.90 grams per tonne (g/t) gold (Au), 386 g/t silver (Ag), 2.55% lead (Pb) and 1.72% zinc (Zn) over an average width of 0.86 meters (2.8 feet),

The new mineralization was discovered in an upper level of the Santa Juana mine which currently extends from level 12 to level 19. The Company's NI 43-101 mineral resource estimate includes only a portion of the A-2 vein which was previously opened for only 40 meters. The reported portion was classified as measured resources grading 3.05 g/t gold, 240 g/t silver, 0.77% lead and 0.49% zinc over 1 meter.

Deep Drilling of Massive Sulphides

The Company continues to advance well with the high performance drill rig that will target the rich massive sulphides at depth. Drilling with the smaller BQ bit is now complete and reaming of the hole has recommenced and is nearing completion.

Cautionary Statements

Readers are cautioned that until a prefeasibility study is completed, there are no assurances these latest mineralized zones will be economically viable.

All widths are true widths. Samples were assayed at the ERSA laboratory in Torreon, Coahuila, Mexico which is currently in the process of being certified. Mr. Michel Roy, P. Geo., a "qualified person" within the meaning of NI 43-101, prepared the technical information disclosed in this news release.

About ECU Silver

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 Company holds a NI 43-101 compliant mineral resource of 40 million silver equivalent (0.6 million gold equivalent) ounces in the measured and indicated category and 391 million silver equivalent (6.0 million gold equivalent) ounces in the inferred category. The Company also owns two mills with a combined capacity of 820 tonnes per day. ECU's mission is to become a pre-eminent silver and gold producer through the development of its existing and potential mineral resources at Velardena.
Website: http://http://www.ecu.ca/

Contact:

Michel Roy
ECU Silver Mining Inc.
Chairman and CEO
Torreon, Mexico
011 52 871 747 5750

Stephen Altmann
ECU Silver Mining Inc.
President
Toronto, Canada
[phone]

Mark Butler
ECU Silver Mining Inc.
Investor Relations
Toronto, Canada
[phone]

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