ECU Silver Closes $12 Million Private

Placement of Special Warrants

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES

Toronto, December 9, 2009 – ECU Silver Mining Inc. (TSX:ECU) (“ECU”) is pleased to report that it has closed its previously announced private placement of special warrants for total gross proceeds of approximately $12.2 million.

The size of the offering was increased due to the strong market support for the offering. A total of 16,946,000 special warrants were issued at a price of $0.72 per special warrant. Each special warrant entitles its holder to acquire upon exercise one unit, with each unit being comprised of one common share of ECU and one-half of a common share purchase warrant. Each full purchase warrant will entitle its holder to acquire one common share at a price of $0.90 at any time on or before December 9, 2011.

Casimir Capital L.P., an investment bank based in New York City, acted as financial advisor to ECU in connection with this private placement.

About ECU

ECU Silver Mining Inc. is focused on the exploration, development and mining of gold, silver and base metals at its Velardeña District Properties in Durango, Mexico. ECU holds a NI 43-101 compliant mineral resource of 40 million silver equivalent ounces in the measured and indicated category and 391 million silver equivalent ounces in the inferred category. ECU 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 Velardeña.

CONTACT INFORMATION:

ECU Silver Mining Inc. ECU Silver Mining Inc.
Michel Roy Stephen Altmann
Chairman and CEO President
011 52 871 747 5750 (416) 366-2428