ECU Silver Finds Veins Above Old Workings

TORONTO, ONTARIO, Oct 23 (MARKET WIRE) --
ECU Silver Mining (TSX: ECU) ("ECU Silver" or "the Company") is pleased
to announce further exploration results from the Santa Juana mine within
the main Velardena Property. While the majority of the Company's
exploration discoveries have been below the old workings (areas
historically mined), recent development has confirmed additional
mineralization also continues above these old workings, as evidenced by
the recent high grade results. These results are from the Santa Juana
mine, which remains the main zone of the Velardena Property.

As part of its exploration strategy, the Company has many underground
development headings to define potential resources and verify mineral
resources over several of its veins or veins packages on the Velardena
Property. This is in addition to the ongoing exploration drilling that is
proceeding on all three of its properties in the Velardena area.

One such development heading was a cross-cut (a drift perpendicular to
the vein) driven on Level 12, which is the main access level to the Santa
Juana mine. The aim of this development work was to verify the upward
continuity of mineralized veins, in this case, the D's and E's veins.
These series of veins have been found at depth, below the old workings,
through both underground development and drilling. Currently, on Level 12
in this area, we have driven 26 metres of cross-cut and have cut numerous
veins and veinlets. Table 1 below, lists the most significant results
received to date from this cross-cut with high grade assays up to 24 g/t
gold and assays exceeding 2,300 g/t silver.

We have also drifted for another 30 metres along a key vein in the area
(the E1 vein). Assays from this drift are pending.

The confirmation of vertical continuity above the old workings is
important as this will have an impact on the next mineral resource
estimate as these series of veins were not included in past evaluations.
At depth, these D and E veins have a demonstrated lateral continuity of
approximately 200 metres. The discovery of mineralization above the old
workings is significant as it demonstrates that un-mined veins can be
discovered in the upper levels.

The Company continues to advance deep drilling at Santa Juana with the
aim of confirming continuity of mineralization down to the previously
announced discovery of the massive sulphide veins (see press release
dated July 9, 2008).

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Table 1 -- Assays Results from Level 12 at Santa Juana Mine
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Sample # Width (m) Au (g/t) Ag (g/t) Pb (%) Zn (%) Cu(%)
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52500 0.20 1.55 83 1.51 0.03 0.11
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52501 0.20 1.94 324 0.86 0.02 0.39
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52502 1.70 11.38 0 0.02 0.01 0.99
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52506 0.20 0.50 71 1.02 0.78 0.13
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52509 0.30 4.00 1,356 0.44 0.16 1.40
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52514 0.60 16.30 2,397 0.30 0.24 2.65
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52515 1.00 4.50 328 0.03 0.10 0.33
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52516 0.20 1.60 122 0.04 0.07 0.22
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52517 0.20 1.10 72 2.45 2.24 0.21
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52525(i) 0.32 24.00 1,127 9.01 8.97 1.11
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52526(i) 0.20 11.10 1,508 2.00 0.30 2.00
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Average E1 0.26 19.04 1,274 6.31 5.64 1.45
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(i) Samples from the E1 vein

Cautionary Statements and Additional Information:

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.

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.

Contacts:
CHF Investor Relations
Chris Haldane
Account Manager
(416) 868-1079 ext. 237
Email: chris@chfir.com

ECU Silver Mining Inc.
Stephen Altmann
President
(416) 366-2427
(416) 366-8131 (FAX)
Email: ecu@ecu.ca
Website: www.ecu.ca

Copyright 2008, Market Wire, All rights reserved.

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