Current Status:

By comparison, ECU has 2.34 million ounces of gold and 167 million ounces of silver. ECU's average gold grade is about 2.2 g/t and its average silver grade is about 160 g/t. This works out to about $191 per tonne using current prices. The average grades for Andean Resorces are 6.27 g/t gold and 48 g/t silver, which work out to about $283 per tonne.

One thing that is apparent when looking at Andean Rosurces numbers is that their grades drop off significantly when moving from indicated to inferred. This indicates that their step out and deeper drilling is not as good as the main discovery which means there is not much more to be discovered. ECU by comparison does not have a dropoff in grades for lessor drillid areas indicating alot more to be discovered.

To be honest, based on the current status of ECU's mineral estimate, Andean is probably twice as profitable a deposit as ECU. But how does ECU's massive suphide results from 2 years ago compare to Andean? A news release from our massive sulpide drilling is pasted below:

ECU Silver Confirms Massive Sulphide at Depth

Highlights

• Massive Sulphide Grades Confirmed.
  • 3.66 g/t Au, 295 g/t Ag, 7.87% Pb and 12.07% Zn over core length of 12.04 metres (40 feet).
  • 7.90 g/t Au, 550 g/t Ag, 11.25% Pb and 27.68% Zn over core length of 1.75 metres (6 feet).

Toronto, Ontario, July 9, 2008 - ECU Silver Mining (TSX:ECU) ("ECU Silver" or "the Company") is very pleased to announce that it has confirmed grades from the two massive sulphide veins intercepted at depth. The first drill intercept yielded 3.66 g/t Au, 295 g/t Ag, 7.87% Pb and 12.07% Zn over a core length of 12.04 metres (40 feet) (17 g/t Au equivalent or 1,100 g/t Ag equivalent). The second intercept yielded 7.90 g/t Au, 550 g/t Ag, 11.25% Pb and 27.68% Zn over a core length of 1.75 metre (6 feet) (33 g/t Au equivalent or 2,180 g/t Ag equivalent).

The four key points regarding the two massive sulphide veins (the "M-S Veins") include:

• The M-S Veins were intercepted at double the depth of the current N.I. 43-101 mineral resource estimate in this region.
• The grades in the M-S Veins are substantially higher than the Santa Juana N.I. 43-101 Inferred Resource grades.
• Drilling has entered a zone where a multiple number of massive sulphide lenses may be found.
• The extent of the alteration zone is unknown as drilling has not yet reached the intrusive.

These drill results (see Table 1) are considered to be extremely significant as they provide a high level of confidence to the geological model which suggests the potential for the discovery of additional deep seated massive sulphide replacement (Mantos-type) deposits. These Mantos-type sulphide deposits represent major sources of precious and base metals in a high-grade, high tonnage ratio.

The above mentioned key points concerning the M-S Veins are summarized as follows:

1. The M-S Veins were intercepted at double the depth of the current N.I. 43-101 mineral resource estimate in this region.
   
   As reported previously (see press release dated July 2, 2008), drill hole SJ-18-21 intercepted the "M-S Veins" at a depth of 900 metres (2,950 feet) below level 18. This is double the depth limit, from level 18, of the current N.I. 43-101 resource estimate for this region, which encompasses the Santa Juana veins system. In the last N.I. 43-101 resource estimate, the Inferred Resources for that section of the Santa Juana veins complex were calculated from a depth of 150 metres (490 feet) to a maximum depth of 450 metres (1,480 feet) below level 18 representing a total height of approximately 300 metres (980 feet). Drill hole SJ-18-21 cut the M-S Veins 900 metres (2,950 feet) below level 18 or another 450 metres (1,480 feet) below the current mineral resource limit. As such, the M-S veins demonstrate the continuity of the mineralized system from the current mine levels all the way down to nearly one kilometre below level 18. We intend to integrate an inferred resource block that will now extend for a vertical distance of 800 metres (2,620 feet), versus the previous 300 metres (980 feet), into the next N.I. 43-101 resource update. The current N.I. 43-101 for Santa Juana alone, defines a Measured and Indicated resource of 31.5 million ounces of silver equivalent (versus a total for all Velardeña Properties of 37.6 million ounces) and an Inferred Resource of 70.5 million ounces of silver equivalent (versus a total for all Velardeña Properties of 179 million ounces).
2. The grades in the M-S Veins are substantially higher than the Santa Juana N.I. 43-101 Inferred Resource grades.
   
   The grades of the intercepts for the M-S Veins are very high, especially in base metals, compared to the average grade for the Inferred Resource at Santa Juana as defined basically between level 18 and 450 metres (1,480 feet) below. A new Inferred Resource calculated between level 18 and 900 metres (2,950 feet) may positively impact the average grade of the updated Inferred Resource category.
3. Drilling has entered a zone where a multiple number of massive sulphide lenses may be found.
   
   The M-S Veins are within the marble/skarn alteration zone. The marble/skarn unit is typically associated with a zone of alteration occurring at the contact between the intrusive body and the limestone host rock. The most favourable portion of the alteration zone is the contact between the intrusive and the marble/skarn where thick lenses of massive sulphides typically form.
4. The extent of the alteration zone is unknown as drilling has not yet reached the intrusive.
   
   The Santa Juana veins system is bound by two prominent veins in the upper levels, the Santa Juana Vein to the north-east and the more prominent A4 Vein to the south-west. At the upper levels of the Santa Juana mine, the A4 vein is located at the contact between the skarn and the intrusive. Consequently, the first M-S Vein may represent the downward extension of the Santa Juana vein and thus represent the first major vein, at depth, of the package of veins that comprise the Santa Juana veins system. At depth, the drill reached its maximum drilling depth and stopped within the marble/skarn alteration zone before hitting the intrusive. As such, there is a reasonable expectation that another massive sulphide vein, corresponding to the depth extension of the A4 vein, will be located to the south-west at the intrusive contact.

Michel Roy, CEO and Chairman, stated that "These massive sulphides have all the characteristics of Mantos-type bodies but with higher metal content than what has been encountered in the camp previously. In this, these intercepts are clearly related to the Santa Juana vein system which is also higher in gold than any other system in the area."

Stephen Altmann, President, added that "For the past 10 years, Michel and his team have persevered in proving the geological model that outlines a near-by source of mineralization. Today, the discovery of massive sulphide mineralization has demonstrated the ability and conviction of ECU's exploration team."

Both of the highligted intercepts have ore values much higher than the Andean average over impressive widths. When all is done, I think ECU will have 3 times the metal that Andean's main property has.

Table 1: Massive Sulphide Veins from Hole SJ-18-21
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Sample    From       To   Length     Au    Ag     Pb     Zn    Cu
#           (m)      (m)      (m)   g/t   g/t      %      %     %
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51117   827.51   829.01     1.50   0.85   367  11.80  15.80  0.61
51118   829.01   830.51     1.50   0.80   380  10.75  18.22  0.38
51119   830.51   832.01     1.50   1.05   303   8.14  12.04  0.24
51120   832.01   833.51     1.50   4.35   261   6.75  14.84  0.32
51121   833.51   835.01     1.50   5.90    83   1.41   9.95  0.11
51122   835.01   836.51     1.50  10.55    59   0.95   2.96  0.08
51123   836.51   838.01     1.50   2.10   395  12.43  13.80  0.52
51127   838.01   839.55     1.54   3.70   506  10.66   9.02  0.61
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TOTAL   827.51   839.55    12.04   3.66   295   7.87  12.07  0.36

51113   855.40   857.15     1.75   7.90   550  11.25  27.68  1.21