Even though the gold, silver and financial markets have been in disarray in 2008, ECU has made many accomplishments in advancing its Velardena mine properties. Below is a short list of significant accomplishments:

1.) ECU issued two updated NI43-101 reports which were dated January 24, 2008 and December 10, 2008. The effect of these two reports was to increase ECU's measured, indicated and inferred resource four fold from 98.417 million ounces silver equivalent to 430.729 million. ECU's total resource including potential resources including an estimate for base metals in the potential category increased from 145.417 million ounces silver equivalent to 1,826.33 million ounces.

2.) ECU discovered and confirmed massive sulfides at both its San Diego and Santa Juana mines.

3.) ECU confirmed the eastern extension of the Terneras Vein and discovered the northern branch of the Terneras Vein. ECU also discovered numerous other potentially profitable veins ranging from about one foot wide up to 6 meters wide.

4.) ECU signed a concentrate sales agreement.

5.) ECU continued to make progress in developing the method for removal of its gold from the pyrite concentrate.

6.) ECU kept its promise and did not increase shares outstanding via any private placements though they did particapate in a non brokered placement using convertable debentures.

ECU has not been rewarded for these accomplishments, but instead has suffered a dropping share price. In ECU's defense there are numerous other silver mining producers and juniors with excellent properties which have suffered similar share price drops. I suspect that when the silver price recovers and money comes back into the junior market, that ECU's share price will rocket as much or more than its good competitors.

I have broken out the gold and silver component of the total equivalent numbers to show just how awesome this discovery is. If we add up the measured, indicated, inferred, and potential ounces for Velardena, we have 7.827 million ounces of gold and 619.697 million ounces of silver. How many gold discoveries over 5 million ounces are there? My memory is that its only about one mine per year discovered with this potential. ECU's potential for 619 million ounces of silver puts them in the top 5 undeveloped silver mines in the world, maybe even the top 3 behind Goldcorp's new mine in Mexico and Barrick's proposed Pascua Lama mine. We have the property. Now all we need is a decent silver price and some funding. If we get the decent silver price we will get the funding. Regards.