This is a quick summary of the ECU annual meeting on June 8, 2010. I didn’t take notes so this is from memory. The meeting was very interesting with no real unknown developments but lots of confirmation of present production success and future plans. One thing that the company indicated quite strongly on a number of occasions during the Q&A is that no equity issues are planned now and that they plan to avoid equity issues given the recent experiences. Everything here was stated publicly at the meeting.

- about 25 people in the room

- company discussed the 6 month mill plan for increasing production with the primary focus on increasing recoveries followed after optimization with a move to higher tonnes per day

- recovery results improving weekly as a result of new VP operations

- new mine manager has increased stoping efficiency and development, of course as drifts are created to access the oxide material it also opens the access to sulphide material for future extraction and this is important for the future 1500 tpd sulphide mill planned

- the expected end result after 6 month plan is for a run rate of 2 million silver equivalent ounces of annual production from the 2 existing mills plus inventory of gold pyrite con

- company stated they are very committed to the phase one production expansion of 1500 tpd and expects this to take 12-18 months to complete from final decision

- phase one expansion will produce 5-6 million silver equivalent ounces from sulphide ore and generate $30 million in cashflow

- phase two expansion will be to increase this to 5000 tpd which will generate over $100 million in cashflow

- more importantly the company says this new 1500 tpd mill will require no equity dilution and they have been involved in serious discussions to date

- the mill will either be a purchased mill that is re-built on site or a completely new facility with no permitting issues, water issues, road access issues or electricity issues

- continuing to ramp to level 22 and this will take many months to complete and is critical to future production expansion of phase one

- lots of good exploration surprises have been occurring recently with new production drifting, some press released and some yet to come

- since the last 43-101 report lots of inferred has been upgraded to M&I as a result of drifting sampling and this will be reflected in the next 43-101 which has not yet been commissioned

- one common thread through most of the Santa Juana direct face sampling programs has been to demonstrate a consistently higher grade of gold/silver and over wider widths than the drill holes that were used in the calculation of the official 43-101 and this has been alluded to in the past and recent press releases. I mention this because the significance is that our existing resource in 43-101 report really under states the size of the present resource from the Santa Juana section of the mine which accounts for about 180 million ounces. This discrepancy is easily 30-40% and maybe much higher.

- the company is committed to starting deep drilling program when they are confident there is a sufficient cushion of cash contingency. They are very excited about the prospects for success of this program as well as significant expansion of our vein systems through further exploration. I think their course of action is prudent given what has transpired over the last 12-18 months in world financial markets.

- the only thing the company is not happy about is the stock price and this was brought up by both shareholders and management a few times during the Q&A. At least on two occasions the company stated one of it’s goals in the next year is to see the stock price back above $3 dollars and they believe the company can easily support this valuation in the mid-term.

- as an example of recent PR, the company stated they recently presented to 22 institutions/funds on a recent trip to Europe and meet with very positive comments that they will now try to get buying from. This is an ongoing process and part of the recent plans to really start pitching the story now that things are really falling into place on cashflow and the hiring of Mark Butler the new IR person was part of this strategy. I expect to see more news items and reports in the future as a result of the new approach which in time will increase demand for ECU stock.

- the company does plan to switch back to reporting as a producer in the future when the AMF agrees the criteria has been meet which is either a full pre-feasibility study or sufficient consistent revenue that is material. The company really qualifies already but I expect this will take a few months of proof for the regulators.

- the company is in arbitration right now with GOG and would not discuss the details other than to say all issues indicated in the complaint were addressed 6 months ago.

- the company also directly alluded to possible acquisitions in the area of mineral assets and stated they are constantly approached with interesting opportunities at various stages of development.

I have tried to cover off on what I can but I will admit in a conversation earlier today with a friend who was asking me questions about the meeting, more stuff came to mind. So I will try to answer any questions over the next couple of days if I know the answer.