<<<AUMN breaks below $10... what a metals meltdown>>>

Tell me about it! <ng>

Today's selloff in AUMN equates to a .12 break in the ECU portion.

Completely nuts, imo, but I don't get the sense the fools are through selling....

One would think AUMN would have put out a post 'arrangement' PR updating matters at Velardena by now, but noooooOOOOOOOOoooooo!

AUMN breaks below $10... what a metals meltdown.

Golden Minerals Sept. 15th audio/slideshow presentation at the Precious Metals Summit in Vail Valley, Colo



Golden Minerals Company (AUMN; AUM.TO)
Jeffrey Clevenger
Chairman, President & CEO

http://www.gowebcasting.com/events/precious-metals-summit-conferences-llc/2011/09/15/golden-minerals-company/play/stream/2990

Cananccord Update of Golden Minerals (AMEX:AUMN; TSX:AUM)

Golden Minerals Company | Nicholas Campbell, 1.604.643.7027

AUM : TSX : C$13.72 | C$428.1M | Speculative Buy , Target C$30.00

Merger with ECU complete; maintain SPECULATIVE BUY with a target price of C$30.00, down from C$36.50

Investment recommendation

We maintain our SPECULATIVE BUY recommendation with a target price of C$30.00, down from C$36.50.

Investment highlights

With the closing of the merger with ECU Silver, the development of the Velardeña project in Mexico is to be prioritized. A preliminary economic assessment (PEA) is expected to be completed in 2012 with the objective of developing a 2,000 tpd underground mining operation capable of producing 5 million ounces of silver-equivalent per year.

The drilling and drifting work at the El Quevar project has demonstrated the potential to develop the mine with bulk tonnage mining, potentially using open pit mining on the eastern and central portions of the Yaxtché deposit and bulk underground mining in the western portion of the Yaxtché deposit. A PEA on the El Quevar project is expected in 2012.

Valuation

With Velardeña in the pipeline, Golden Minerals has one of the most aggressive silver growth profiles in the junior silver space. We estimate that AUM could produce 8.5 million ounces of silver-equivalent by 2015. With two projects to finance and develop, we have increased our discount rate to 10% from 7.5% previously. We continue to value the shares of Golden Minerals based on a 0.80x multiple to our peak silver estimate of NAVPS (10%, US$45/oz Ag) of C$37.74, down from C$45.66 previously.

http://agoracom.com/ir/GoldenMinerals/forums/discussion/topics/498384-cananccord-update-of-golden-minerals/messages/1589991#message

Golden Minerals and ECU Silver Announce Closing of Business Combination

Friday September 2, 2011, 5:40 pm

GOLDEN, CO and TORONTO--(Marketwire -09/02/11)- Golden Minerals Company (AMEX: AUMN - News) (TSX: AUM.TO - News) ("Golden Minerals") and ECU Silver Mining Inc. ("ECU") are pleased to announce the closing of their previously disclosed business combination by way of a court-approved plan of arrangement under the Business Corporations Act (Québec) (the "Arrangement").

Following the issuance on August 31, 2011 of a final order of the Superior Court of Québec approving the Arrangement, Golden Minerals and ECU today filed Articles of Arrangement to give effect to the Arrangement.

At closing, each ECU common share was exchanged for the right to receive 0.05 of a share of Golden Minerals common stock and $0.000394 in cash, and ECU became a wholly-owned subsidiary of Golden Minerals. In addition, new Golden Minerals options to purchase Golden Minerals common stock will be exchanged for all outstanding ECU options to purchase ECU common shares, and new Golden Minerals warrants to purchase Golden Minerals common stock will be exchanged for all outstanding ECU warrants to purchase ECU common shares. Former holders of ECU common shares and warrants can obtain replacement shares of Golden Minerals common stock and cash, or replacement Golden Minerals warrants, as applicable, by submitting the applicable letters of transmittal and the appropriate documents prescribed thereby to the depositary for the Arrangement, Computershare Investor Services Inc. The forms of the letters of transmittal are available under ECU's profile on the SEDAR website (www.sedar.com). Former holders of ECU options will receive replacement options directly from Golden Minerals.

The Golden Minerals common stock issued to former ECU shareholders in connection with the Arrangement is expected to begin trading on the NYSE Amex and the Toronto Stock Exchange ("TSX") on or about Tuesday, September 6, 2011. The Golden Minerals replacement warrants expiring on February 20, 2014 issued in connection with the Arrangement to former holders of ECU Warrants expiring on February 20, 2014 are expected to begin trading on the TSX on or about Wednesday, September 7, 2011. ECU's common shares and warrants will be delisted from the TSX.

Michael Mason, formerly on the Board of Directors of ECU Silver, has joined the board of Golden Minerals in connection with the Arrangement. Mr. Mason, who has more than 35 years experience in the minerals industry, is currently a director and President of MBMI Resources Inc., a nickel development company, and a director of Euromax Resources Ltd and Geovic Ltd. Steve Altmann, the former President of ECU who was expected to serve as President of Golden Minerals, has declined that position for personal reasons. Mr. Altmann has agreed to serve as a consultant to Golden Minerals for the remainder of 2011 in connection with transition and investor relations matters.

The Combined Company

The combination of Golden Minerals and ECU creates a company with a solid project pipeline, including the production and ramp-up stage Velardeña District project in Mexico, the evaluation stage El Quevar project in Argentina, the advanced exploration stage Zacatecas project in Mexico, two drill testing projects, one each in Peru and Argentina, and more than 40 reconnaissance/target delineation projects in Latin America.

The Velardeña District is comprised of two operating mines, with a 500 tonne per day oxide plant and a 300 tonne per day sulfide plant. An NI 43-101 Technical Report by Micon International for the Velardeña District dated January 20, 2009, demonstrated a measured and indicated resource of 3.9 million tonnes containing approximately 16 million ounces of silver, 26 million pounds of lead and 37 million pounds of zinc, and an inferred resource of an additional 26.5 million tonnes, containing approximately 135 million ounces of silver, 2 million ounces of gold, and 1 billion pounds each of lead and zinc. Golden Minerals expects to complete a new resource estimate for the Velardeña District in the fourth quarter of 2011.

Golden Minerals expects production at Velardeña to decline during the fourth quarter of 2011 while it completes additional mine development work designed to decrease dilution and improve the ore grade being sent to the mill. Golden Minerals anticipates that production will begin to increase in the first part of 2012, with Velardeña expected to begin generating positive cash flow during the third quarter of 2012, based on current metals prices. Golden Minerals is forecasting production for the fourth quarter of 2011 and 2012, as shown in the following table:

                Q2 2011     Q4 2011   Q1 2012   Q2 2012   Q3 2012   Q4 2012 
               (ECU Actual) 
     Production 
       (payable 
        metals) 
      Gold (oz)       1,653     1,000     1,600     2,500     3,800     4,300 
    Silver (oz)      86,591    41,700    72,500   119,500   184,700   214,300 
     Lead (lbs)     106,909    22,800    38,200    59,200    87,300   100,500 
     Zinc (lbs)     172,848    51,000    85,100   131,400   193,400   222,500

ECU Silver Mining Inc. Obtains Final Order for Arrangement With Golden Minerals Company

Wednesday August 31, 2011, 4:00 pm EDT

TORONTO, ONTARIO--(Marketwire - Aug. 31, 2011) - ECU Silver Mining Inc. (TSX:ECU; OTC:ECUXF - News; "ECU") is pleased to announce that the Superior Court of Quebec has issued a final order (the "Final Order") pursuant to the Business Corporations Act (Quebec) approving its plan of arrangement (the "Arrangement") with Golden Minerals Company (NYSE Amex:AUMN)(TSX:AUM - News; "Golden Minerals"). Receipt of the Final Order follows the special meeting of ECU securityholders held on August 30, 2011, at which ECU's securityholders approved the Arrangement. Subject to the other conditions to the closing of the transaction being satisfied or waived, ECU and Golden Minerals anticipate that the Arrangement will be completed on or about Friday, September 2, 2011.

Website: http://http://www.ecu.ca/

Contact:

Michel Roy
ECU Silver Mining Inc.
Chairman and CEO
Torreon, Mexico
011 52 871 747 5750

Stephen Altmann
ECU Silver Mining Inc.
President
Toronto, Canada
(416) 366-2428

http://finance.yahoo.com/news/ECU-Silver-Mining-Inc-Obtains-ccn-401497953.html?x=0&.v=1

Golden Minerals and ECU Silver Mining Inc. Announce Results of Special Meetings of Securityholders

Tuesday August 30, 2011, 2:23 pm EDT

GOLDEN, CO and TORONTO, ON--(Marketwire - August 30, 2011) - Golden Minerals Company (NYSE Amex: AUMN) (Toronto:AUM.TO) ("Golden Minerals") and ECU Silver Mining Inc. (Toronto:ECU.TO; OTC:ECUXF) ("ECU") are pleased to announce that their previously disclosed business combination by way of court-approved Plan of Arrangement (the "Arrangement") has been approved by the stockholders of Golden Minerals and the securityholders of ECU.

Golden Minerals held a special meeting of its stockholders earlier today in Golden, Colorado, USA. At that meeting, Golden Minerals' stockholders approved the issuance of shares of Golden Minerals common stock in connection with the Arrangement, with 98.68% of the votes cast by the Golden Minerals' stockholders voting in favor. Golden Minerals' stockholders also approved an amendment to Golden Minerals' certificate of incorporation to increase the number of authorized shares of Golden Minerals common stock from 50,000,000 to 100,000,000.

ECU held a special meeting of its securityholders earlier today in Montreal, Quebec, Canada. At the ECU meeting, ECU's securityholders also approved the Arrangement, with 98.41% of the votes cast by ECU's securityholders, voting together as a single class, voting in favor of the Arrangement. In addition, the shareholders of ECU voting as a separate class, as well as the minority shareholders of ECU, approved the Arrangement by majorities of 98.08% and 98.03%, respectively.

A hearing is scheduled with the Superior Court of Quebec on the morning of August 31, 2011 in order to consider an application for a final order approving the Arrangement. Provided that the Arrangement is approved by the Superior Court of Quebec and the other closing conditions are satisfied or waived, Golden Minerals and ECU anticipate that the Arrangement will be completed on or about Friday, September 2, 2011. The Golden Minerals common stock to be issued to ECU's securityholders in connection with the Arrangement is expected to begin trading on the NYSE Amex and the TSX on or about Tuesday, September 6, 2011. The Golden Minerals warrants to be issued to holders of ECU Warrants expiring on February 20, 2014 in connection with the Arrangement are expected to begin trading on the TSX on or about Wednesday, September 7, 2011.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the United States Securities Act of 1933 and Section 21E of the United States Securities Exchange Act of 1934 and applicable Canadian securities laws, including statements regarding the timing of completion of the Arrangement and the trading of Golden Minerals common stock and warrants to be issued upon consummation of the Arrangement. Golden Minerals and ECU have provided these anticipated times in reliance on certain assumptions that they believe are reasonable at this time, including assumptions as to the timing of receipt of the necessary regulatory and court approvals, and the satisfaction of and time necessary to satisfy the conditions to the closing of the Arrangement. These dates may change for a number of reasons, including inability to secure necessary regulatory or court approvals in the time assumed or the need for additional time to satisfy the conditions to the completion of the Arrangement. In addition, the Arrangement is subject to a number of conditions that are typical for transactions of this nature. Failure to satisfy any of these conditions may result in the termination of the definitive agreement to combine Golden Minerals and ECU, and the Arrangement may not be completed.

Additional information on these and other factors that could affect Golden Minerals' and ECU's, or the combined company's, operations or financial results are included in reports on file with applicable securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com), the EDGAR website (www.sec.gov), Golden Minerals' website (www.goldenminerals.com), or ECU's website (www.ecu.ca).

The forward-looking statements and information contained in this press release are made as of the date hereof and Golden Minerals and ECU undertake no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless expressly required by applicable securities laws.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this press release.


Contacts

Jeffrey G. Clevenger
Golden Minerals
Chairman, President and CEO
Jerry W. Danni
Executive Vice President
Tel: +1 (303) 839 5060

Website: http://www.goldenminerals.com


Michel Roy
ECU
Chairman and CEO
Stephen Altmann
Director and President
Tel: +1 (416) 366-2428

Website: http://www.ecu.ca

http://ca.finance.yahoo.com/news/Golden-Minerals-ECU-Silver-marketwire-499575553.html?x=0&.v=1

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Research Report on Post-Merger AUMN (was ECU)

Research Report on Post-Merger AUMN (ECU)

<<<My opinion is that we are now at a wonderful buy point... way below the MA200 daily and MA40 weekly averages... the good news for this company continues to roll in.>>>

Additionally, the combined shareholder voting that is now in progress should ratify ECU's planned 'marraige' with AUMN and in doing so, signal another major reason for a sharp turnaround in their PPS.....

The newly combined company will have an O/S of 31.2 million shares (34 million FD) which will compare very favorably, imo, with ECU's present 0/S that is approaching 400 million shares.

#msg-64581191

My opinion is that we are now at a wonderful buy point... way below the MA200 daily and MA40 weekly averages... the good news for this company continues to roll in.

ECU Silver Receives Assays for the Deep Drilling in Santa Juana Mine

Tuesday August 23, 2011, 10:40 am

TORONTO, ONTARIO--(Marketwire - Aug. 23, 2011) - ECU Silver Mining Inc. (TSX:ECU; OTC:ECUXF - News) is pleased to announce that it has received the assays for the announced intercept in hole SJ-18-21B. The calcite-rich section averaged 2.09 g/t gold, 122.4 g/t silver, 0.35% lead, 0.63% copper and 0.35% zinc over a core length of 16.55 meters (54.3 feet) corresponding to a 6.02 meters (19.8 feet) true width. This was followed by a massive sulfides section grading 0.17 g/t gold, 51.1 g/t silver, 0.16% lead, 0.55% copper and 6.78% zinc over a core length of 2.25 meters (7.4 feet) corresponding to a 0.82 meters (2.7 feet) true width. The following table contains all the assays for the mineralized zone which extended from 1016.15 to 1035.45 meters in the hole.

---------------------------------------------------------------------------- 
                    TABLE OF ASSAYS FOR A4 VEIN - SJ-18-21B 
 ---------------------------------------------------------------------------- 
 Sample #               From              To    Core Length m    True Width m 
 ---------------------------------------------------------------------------- 
 82274               1016,65         1016,80             0,15            0,05 
 ---------------------------------------------------------------------------- 
 82275               1016,80         1017,20             0,40            0,15 
 ---------------------------------------------------------------------------- 
 82276               1017,20         1018,20             1,00            0,36 
 ---------------------------------------------------------------------------- 
 84216               1018,20         1018,60             0,40            0,15 
 ---------------------------------------------------------------------------- 
 82277               1018,60         1018,95             0,35            0,13 
 ---------------------------------------------------------------------------- 
 84217               1018,95         1020,10             1,15            0,42 
 ---------------------------------------------------------------------------- 
 82278               1020,10         1020,80             0,70            0,25 
 ---------------------------------------------------------------------------- 
 84218               1020,80         1021,75             0,95            0,35 
 ---------------------------------------------------------------------------- 
 84219               1021,75         1022,45             0,70            0,25 
 ---------------------------------------------------------------------------- 
 82279               1022,45         1023,15             0,70            0,25 
 ---------------------------------------------------------------------------- 
 82281               1023,15         1023,45             0,30            0,11 
 ---------------------------------------------------------------------------- 
 82282               1023,45         1023,95             0,50            0,18 
 ---------------------------------------------------------------------------- 
 82283               1023,95         1024,85             0,90            0,33 
 ---------------------------------------------------------------------------- 
 82284               1024,85         1025,30             0,45            0,16 
 ---------------------------------------------------------------------------- 
 82285               1025,30         1025,90             0,60            0,22 
 ---------------------------------------------------------------------------- 
 82286               1025,90         1026,55             0,65            0,24 
 ---------------------------------------------------------------------------- 
 82287               1026,55         1026,85             0,30            0,11 
 ---------------------------------------------------------------------------- 
 82288               1026,85         1027,20             0,35            0,13 
 ---------------------------------------------------------------------------- 
 82289               1027,20         1027,55             0,35            0,13 
 ---------------------------------------------------------------------------- 
 84220               1027,55         1028,90             1,35            0,49 
 ---------------------------------------------------------------------------- 
 82290               1028,90         1029,40             0,50            0,18 
 ---------------------------------------------------------------------------- 
 82291               1029,40         1030,25             0,85            0,31 
 ---------------------------------------------------------------------------- 
 82292               1030,25         1031,15             0,90            0,33 
 ---------------------------------------------------------------------------- 
 82293               1031,15         1032,15             1,00            0,36 
 ---------------------------------------------------------------------------- 
 82294               1032,15         1033,20             1,05            0,38 
 ---------------------------------------------------------------------------- 
  
 ---------------------------------------------------------------------------- 
 25 samples          1016.65         1033.20            16.55            6.02 
 ---------------------------------------------------------------------------- 
  
 ---------------------------------------------------------------------------- 
 82295               1033,20         1033,65             0,45            0,16 
 ---------------------------------------------------------------------------- 
 84221               1033,65         1034,30             0,65            0,24 
 ---------------------------------------------------------------------------- 
 82296               1034,30         1035,25             0,95            0,35 
 ---------------------------------------------------------------------------- 
 82297               1035,25         1035,45             0,20            0,07 
 ---------------------------------------------------------------------------- 
  
 ---------------------------------------------------------------------------- 
 4 samples           1033.20         1035.45             2.25            0.82 
 ---------------------------------------------------------------------------- 
  
 ---------------------------------------------------------------------------- 
 Sample #          Au g/t       Ag g/t         Pb %         Cu %         Zn % 
 ---------------------------------------------------------------------------- 
 82274               8,85          284         0,05         0,04         0,10 
 ---------------------------------------------------------------------------- 
 82275               1,80           90         0,13         0,94         0,08 
 ---------------------------------------------------------------------------- 
 82276               3,90          131         0,03         0,02         0,02 
 ---------------------------------------------------------------------------- 
 84216               0,35           19         0,01         0,01         0,01 
 ---------------------------------------------------------------------------- 
 82277               3,65          122         0,03         0,09         0,02 
 ---------------------------------------------------------------------------- 
 84217               0,10            4         0,01         0,02         0,01 
 ---------------------------------------------------------------------------- 
 82278               0,85           43         0,09         0,06         0,07 
 ---------------------------------------------------------------------------- 
 84218               0.30            8         0,03         0,01         0,08 
 ---------------------------------------------------------------------------- 
 84219               0.70           49         0,13         0,03         0,16 
 ---------------------------------------------------------------------------- 
 82279               5,07          197         0,49         0,36         0,05 
 ---------------------------------------------------------------------------- 
 82281               1,95           90         0,26         0,10         0,16 
 ---------------------------------------------------------------------------- 
 82282               2,27           46         0,24         0,22         0,10 
 ---------------------------------------------------------------------------- 
 82283               2,60          325         1,27         1,05         0,11 
 ---------------------------------------------------------------------------- 
 82284               4,60          108         0,28         0,11         0,29 
 ---------------------------------------------------------------------------- 
 82285               1,33          209         0,65         0,85         0,07 
 ---------------------------------------------------------------------------- 
 82286               0,20           37         0,27         0,08         0,10 
 ---------------------------------------------------------------------------- 
 82287               1,87          182         0,76         0,61         0,11 
 ---------------------------------------------------------------------------- 
 82288               1,53          154         0,67         0,35         0,14 
 ---------------------------------------------------------------------------- 
 82289               1,10            7         0,12         0,13         0,15 
 ---------------------------------------------------------------------------- 
 84220               1.15          125         0,53         0,13         0,97 
 ---------------------------------------------------------------------------- 
 82290               0,20           21         0,28         0,06         0,18 
 ---------------------------------------------------------------------------- 
 82291               3,93          210         0,71         2,06         1,97 
 ---------------------------------------------------------------------------- 
 82292               4,07          207         0,41         1,98         1,65 
 ---------------------------------------------------------------------------- 
 82293               6,07          123         0,32         2,06         0,12 
 ---------------------------------------------------------------------------- 
 82294               1,20          222         0,46         1,77         0,19 
 ---------------------------------------------------------------------------- 
  
 ---------------------------------------------------------------------------- 
 25 samples          2.09        122.4         0.35         0.63         0.35 
 ---------------------------------------------------------------------------- 
  
 ---------------------------------------------------------------------------- 
 82295               0,20          139         0,56         1,11        20,26 
 ---------------------------------------------------------------------------- 
 84221               0.20           14         0,03         0,12         0,65 
 ---------------------------------------------------------------------------- 
 82296               0,25           39         0,09         0,46         0,70 
 ---------------------------------------------------------------------------- 
 82297               0,30           31         0,08         1,12        25,20 
 ---------------------------------------------------------------------------- 
  
 ---------------------------------------------------------------------------- 
 4 samples           0.17         51.1         0.16         0.55         6.78 
 ----------------------------------------------------------------------------

ECU Silver Finds New Mineralization in Upper Levels of the Santa Juana Mine

Friday August 19, 2011, 10:13 am

TORONTO, ONTARIO--(Marketwire - Aug. 19, 2011) - ECU Silver Mining Inc. (TSX:ECU; OTC:ECUXF - News) is pleased to announce that through its ongoing underground development, it has uncovered the upward continuity of several mineralized veins known as the "A" veins package. These veins were mined individually on level 17 and are currently being mined on the lower levels 18 and 19. In the upper levels, from level 14 to 17, the veins were mined intermittently. The total height of the active mining area where these veins are located, between levels 12 and 19, is 260 meters (853 feet). The upward continuity of the "A" veins package, from level 12 to surface is 300 meters (984 feet).

In the block formed by the "A" veins package, there is a 100 meter (328 feet) long section where the veins are closer to one another and bulk mining can be considered. In the mining levels between levels 12 and 19, the section of veins has an average width of 35 meters (115 feet) representing a total volume of more than 3,000,000 tonnes of mineralized material within the 260 meters (853 feet).

The information on the upward extension of the "A" veins package was recently discovered when the system was encountered while driving a new ramp starting on level 12. A cross-cut was driven from that ramp to test the "A" veins package and the average following assay results were obtained: 1.18 g/t gold, 307 g/t silver, 0.33% lead, 0.36% zinc and 0.31% copper over a total drift length of 24 meters (79 feet).

Michel Roy, CEO and Chairman of ECU stated, "The upward continuation of the "A" veins package, with interesting precious metals grades, is encouraging as it constitutes a readily accessible source of feed for our flotation mill and any future expansion of our milling capacity."

The Company is also continuing the deep drill hole below the Santa Juana mine and has now entered the target zone below the massive sulphide originally intercepted in drill hole SJ-18-21. The drill has intersected 200 meters (656 feet) below the planned projection of the massive sulphide zone encountered above. Mineralization was cut over a core length of more than 20 meters (66 feet). Visually, it is a mixture of calcite, quartz and sulfides. This appears to be a repetition of the variation in the mineralization of the A4 vein intercepts, 1,200 meters (3,937 feet) above, which is to be the upward continuity of this deep zone. In the upper mined levels of the A4 vein, the mineralization vary from massive sulfides, containing high levels of lead and zinc with variable precious metals, to a mixture of calcite and sulfides with much lower lead and zinc but better average grades of precious metals and copper. Assays are pending.

Michel Roy, CEO and Chairman of ECU stated, "There is a strong similarity of the mineralization in this first daughter hole compared to the mineralized material mined 1,200 meters (3,937 feet) above. More daughter holes are planned as soon as this one is completed."

On June 24th, the Company announced that it had entered into an agreement to merge with Golden Minerals Company ("Golden Minerals") to create an exciting new junior precious metals mining company. The details of the proposed merger have been documented in detail and have been sent out to the respective shareholders of each company. Securityholder votes will be registered at a special meeting of shareholders for both companies to occur on August 30, 2011.

Cautionary Statements

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

About ECU Silver

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 Company 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. The Company 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 Velardena.
Website: http://http://www.ecu.ca/

Contact:

Michel Roy
ECU Silver Mining Inc.
Chairman and CEO
Torreon, Mexico
011 52 871 747 5750

Stephen Altmann
ECU Silver Mining Inc.
President
Toronto, Canada
(416) 366-2428

Mark Butler
ECU Silver Mining Inc.
Investor Relations
Toronto, Canada
(905) 602-4248

http://finance.yahoo.com/news/ECU-Silver-Finds-New-ccn-1441156396.html?x=0&.v=1

ECU Silver Announces That Leading Corporate Governance Analysis and Proxy Voting Firms Recommend That Securityholders Vote FOR the Merger With Golden Minerals Company

Wednesday August 17, 2011, 12:01 pm

TORONTO, ONTARIO--(Marketwire - Aug. 17, 2011) - ECU Silver Mining Inc. ("ECU") (TSX:ECU; OTC:ECUXF - News) is pleased to announce that Institutional Shareholder Services ("ISS") and Glass Lewis & Co., LLC ("GL") have recommended that Securityholders of ECU vote FOR the plan of arrangement (the "Arrangement"), which would result in the business combination of ECU and Golden Minerals Company ("Golden"), at the upcoming Special Meeting of Securityholders to be held on August 30, 2011.

ISS and GL are leading independent international corporate governance analysis and proxy voting firms. Their recommendations assist shareholders to make decisions regarding proxy voting. In their analysis GL said:

"The combination has clear strategic merits, as ECU and Golden have similar geographic footprints and a mutual interest in further development of high-quality silver assets."(i)

ISS noted that:

"The strategic rationale appears reasonable as size, scale and financial strength will be enhanced. The transaction is the culmination of an extensive strategic review in which other alternatives were considered."(i)

Michel Roy, Chairman and Chief Executive Officer of ECU said, "We are pleased that both ISS and GL support the board's view that the combined company will have the advantage of greater scale and financial strength to advance the expansion and development of current mining properties. We believe that Securityholders will benefit from the proven track records of success of the combined management teams and look forward to the enhancement and expansion of the portfolio of assets of the combined company."

Securityholders are reminded to vote their proxy FOR the Arrangement before the proxy deadline of Friday, August 26, 2011 at 5:00 P.M (Eastern Time).

For further information or assistance in connection with the Arrangement, including assistance in voting your securities or to request additional copies of the Meeting Materials, Securityholders should contact Kingsdale Shareholder Services Inc. at 1-877-659-1819 or email to contactus@kingsdaleshareholder.com.

(i) Permission to quote from the ISS and GL reports was neither sought nor obtained.

About ECU Silver

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 Company 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. The Company 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 Velardena.
Website: http://http://www.ecu.ca/

Contact:

Michel Roy
ECU Silver Mining Inc.
Chairman and CEO
Torreon, Mexico
011 52 871 747 5750

Stephen Altmann
ECU Silver Mining Inc.
President
Toronto, Canada
(416) 366-2428

Mark Butler
ECU Silver Mining Inc.
Investor Relations
Toronto, Canada
(905) 602-4248

http://finance.yahoo.com/news/ECU-Silver-Announces-That-ccn-668776519.html?x=0&.v=1

ECU Silver Releases Second Quarter Results for 2011

Tuesday August 16, 2011, 9:34 am

TORONTO, ONTARIO--(Marketwire - Aug. 16, 2011) - ECU Silver Mining Inc. (TSX:ECU; OTC:ECUXF - News) reports that it has recently released its consolidated financial statements for the second quarter ended June 30, 2011 (Q2 2011) and the related management's discussion and analysis of financial position and results of operations (MD&A).

The Company generated net revenues from the sale of dore bars and concentrates for a total of $4,125,261 versus $5,966,092 over the first quarter ended March 31, 2011 (Q1 2011). The decrease in revenue is a result of a cessation in payments for deliveries of the gold/pyrite stockpile and a shortage of cyanide supply due to a plant shutdown of a major industrial supplier in the United States. The shortage in cyanide supply required that the Oxide Plant operate at a reduced rate. Cyanide supply levels resumed to normal levels in late July. Revenues were also impacted by a buildup of concentrate and dore product on hand.

The revenues were applied against cash development costs of $5,691,393 versus $4,383,608 in Q1 2011. The cash development costs were higher than Q1 2010 due to an increase in exploration activities pertaining primarily to drilling programs on the Velardena Property and the San Diego Property. Development costs were also higher due to increased ramp development to enable increased mine output.

Cash balance as at June 30, 2011 was $655,565, down from $1,219,934 as at March 31, 2011 due in part to repayment of certain debt obligations.

In Q2 2011 the operations generated silver (Ag) totaling 96,593 ounces and gold (Au) totaling 1,633 ounces versus 85,600 Ag ounces and 1,893 Au ounces in Q1 2011. In addition, the mines generated 116,586 pounds of lead (Pb) and 212,083 pounds of zinc (Zn) versus 161,977 Pb pounds and 172,736 Zn pounds in Q1 2011.

Shipments for Q1 2011 consisted of 62,906 Ag ounces, 1,192 Au ounces, 0 Pb pounds, and 98,398 Zn pounds versus 80,118 Ag ounces, 2,553 Au ounces, 108,215 Pb pounds, and 164,965 Zn pounds in Q1 2011.

During Q2 2011, the Company reported a loss of $4,385,910, or $0.014 per share, versus $2,081,960, or $0.007 per share, in Q1 2011.

Copies of the financial statements and related MD&A can be found on SEDAR at http://www.SEDAR.com

About ECU Silver

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 Company 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. The Company 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 Velardena.
Website: http://http://www.ecu.ca/

Contact:

Michel Roy
ECU Silver Mining Inc.
Chairman and CEO
Torreon, Mexico
011 52 871 747 5750

Stephen Altmann
ECU Silver Mining Inc.
President
Toronto, Canada
(416) 366-2428

Mark Butler
ECU Silver Mining Inc.
Investor Relations
Toronto, Canada
(905) 602-4248

http://finance.yahoo.com/news/ECU-Silver-Releases-Second-ccn-757304654.html?x=0&.v=1

There is a LOT of reading for boardmembers and shareholders at the ECU portal of SEDAR.

http://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00002745

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~





"If the US Government was a family, they would be making $58,000 a year, they spend $75,000 a year, and are $327,000 in credit card debt. They are currently proposing BIG spending cuts to reduce their spending to $72,000 a year. These are the actual proportions of the federal budget and debt, reduced to a level that we can understand."

-Dave Ramsey

ECU Silver Mining Inc. Announces Filing of Information Circular

Friday August 5, 2011, 12:57 pm EDT

TORONTO, ONTARIO--(Marketwire - Aug. 5, 2011) - ECU Silver Mining Inc. ("ECU") (TSX:ECU; OTC:ECUXF - News) is pleased to announce that it has filed its management information circular (the "Information Circular") dated July 29, 2011 for the upcoming special meeting (the "Meeting") at which ECU's securityholders (the "Securityholders") will be asked to consider and vote upon the previously announced plan of arrangement (the "Arrangement") which would result in the business combination of ECU and Golden Minerals Company ("Golden").

The Meeting is scheduled to be held at 11:00 a.m. (Eastern time) on August 30, 2011 at the Crescent Room of Hotel Le Crystal, 1100 rue de la Montagne, Montreal, Quebec H3G 0A1. Further details are set forth in the notice of meeting that is included with the Information Circular. The record date for determining the Securityholders entitled to receive notice of and vote at the Meeting is the close of business on July 26, 2011.

Golden will also be holding its special meeting of stockholders to approve the issuance of shares contemplated by the Arrangement on August 30, 2011. Golden stockholder approval is a condition to the consummation of the Arrangement.

The Information Circular contains details concerning the Arrangement, the requirements for the Arrangement to become effective and the procedure for exchanging securities of ECU, voting at the Meeting and other related matters, together with detailed information concerning ECU and Golden and their respective businesses and affairs. Securityholders are urged to carefully review the Information Circular and accompanying materials (collectively, the "Meeting Materials") as they contain important information regarding the Arrangement and its consequences to Securityholders.

If the Arrangement is approved by the Securityholders at the Meeting on August 30, 2011, ECU intends to apply to the Superior Court of Quebec for a final order approving the Arrangement at a hearing scheduled for August 31, 2011. If the final order is granted and all other conditions precedent are satisfied or waived at such time, ECU expects that the Arrangement will be completed and become binding upon ECU, Golden and all Securityholders on September 2, 2011.

ECU has commenced mailing the Meeting Materials to the Securityholders. Copies of the Meeting Materials are also available electronically on the SEDAR website ( http://www.sedar.com ) and ECU's website ( http://www.ecu.ca ).

For further information or assistance in connection with the Arrangement, including assistance in voting your securities or to request additional copies of the Meeting Materials, Securityholders should contact Kingsdale Shareholder Services Inc. at 1-877-659-1819.

Contact:

Michel Roy
ECU Silver Mining Inc.
Chairman and CEO
Torreon, Mexico
011 52 871 747 5750

Stephen Altmann
ECU Silver Mining Inc.
President
Toronto, Canada
(416) 366-2428

Mark Butler
ECU Silver Mining Inc.
Investor Relations
Toronto, Canada
(905) 602-4248

http://finance.yahoo.com/news/ECU-Silver-Mining-Inc-ccn-1341546283.html?x=0&.v=1

An interesting post by Coach247 @ Agoracom's ECU Silver Board

in response to Re: Cartel lid stretched over the metals today by MajorD

posted by coach247 on Jul 22, 11 11:53AM

Hi MajorD!

I agree with you that the strength of the rebound is the real story this week, not the recurring smackdowns that hammer the sector on the whim of criminals. No way the cartel is going to let gold or silver close above significant price levels this week, but the usual comex nonsense will be over with in a couple of sessions and then its game on.

For those that have concern about the performance of ECU I think it will come down to the drill results for the short term direction of the stock. My personal belief is that someone who may be short millions of shares would probably have a contact in place with the drilling contractor, and will get a phone call the minute any core is pulled that has visible alteration. The day we get massive volume and a price rise is the first sign that we are back on the discovery track for the company. Until then the mission appears to be about slamming a lid on the stock to demoralize retail investors as much as possible and make it easier to cover. So many people are willing to just hand over their ECU shares so cheaply it must be like taking candy from a baby to short this company. That is too bad but it is what it is.

The clock is ticking down for the merer vote. When that is approved I think the shorts MUST cover and any phantom shares outstanding will have to be delivered. When the tide goes out and ECU is taken off the board, I do not think brokerage houses will be willing to look the other way and admit they knew all along they had client accounts fully paid for ECU transactions that were never delivered. So regardless of whether we hit big drill results, in about 6 weeks the shorts are forced to act and the buying will probably carry ECU well above a buck prior to the closing of the merger. All of this other nonsense, low volume selling, weak sector action, and poor sentiment, will all be a dot on the horizon once the deal goes down.

Here is a hint: the wrts are trading higher today on above average volume. Remember a few weeks ago I was buying those wrts and some people were too busy complaining and getting their shorts in a knot about the short term price action. Retail players are usually crying and selling when they should be buying. Ask yourselves why someone would be bidding up to buy wrts now instead of the cheap shares? You think it may have something to do with the long-dated expiry and the leverage on them? You think maybe smart money is convinced the new company will trade much, much higher down the road?

Have a great weekend all...

mike

http://agoracom.com/ir/ECU/forums/discussion/topics/492688-cartel-lid-stretched-over-the-metals-today/messages/1575814#message

Will Sprott's Next Physical Silver Trust Follow-On Break the Bank? Or the One After That?

Posted by Jesse
at 12:32 PM 21 July 2011

Surmise on my part, based on the facts at hand, but Mr. Sprott seems to have an interesting problem with his Physical Silver Trust. And that problem is indicative of a physical bullion market that is riddled with leverage and irredeemable paper, reminiscent of the Collateralized Debt Obligation and Credit Default Swaps markets, before their virtual default and meltdown.

Cash levels in his fund are rather low, down to about 2 million US dollars or so, which is not much cash on hand for a decent sized fund with a market cap of slightly over one billion US dollars. As a note, I have to extrapolate the cash on hand since PSLV does not release this figure, but they do put out the figures surrounding it. It could be as high as 4 million, which is still rather slim, and a testimony perhaps to their belief in the silver bull and low operating expenses.

But the question remains, with a premium to NAV of over 19%, and with strong demand in silver and their units, how do they respond to this need for additional cash reserves and units?

The answer of course is a follow-on, a secondary offering, acquiring more silver and adding more units, and selling them into the public demand.

Now that they have digested their follow on gold offering of several hundreds of millions of dollars, perhaps they can turn to the silver market again.

But here is the catch. Funds like Sprott don't do paper, to the extent that a listed company's equity might do. They just print more shares.

Even supposed bullion offerings like SLV and GLD do paper chases almost every week. They do swaps for for virtual metal, for example, throwing IOUs on the pile that may or may not be good in a demand crunch for bullion, because they are tracking ETFs, and not closed end funds. They have to manage inventory to the fluctuations in almost real time.

What you see with PSLV and PHYS, and funds like them, is presumably what you get, and in these days of what appears to be a shell game in the silver market, that type of product commands a substantial premium if one has some chance of taking possession in something approaching a reasonable manner.

And in this market structure, no responsible fund manager would agree to do a follow on unless they were able to secure potential bullion inventory in advance at something approaching the market price, which today is around 39.60 per ounce, and have a reasonable plan to take delivery in the foreseeable future. I hear that their last purchase took THREE MONTHS for delivery. Three months or more is a significant period of time in today's volatile global markets. Three months puts us in the historically stormy seas of October, well beyond the known horizon these days.

The current deliverable inventory at the Comex, the single largest depository of tradeable, traceable silver in North American, stands around 27 million ounces, with total value of just over one billion dollars. Not much in today's world of billions flying about, even through individual accounts.

Can Mr. Sprott obtain about 1/5 of the 'visible float' in silver bullion without buying against himself in the market, that is, raising the prices he pays by the demand he himself presents, chasing his tail in the market as it were?

He might turn to the LBMA, the storied London Metals Exchange which is the locus of bullion trade. But with their secretive inventories that change hands in daily multiples of themselves, and purported 100:1 paper leverage, the problem remains the same. When you pull actual bullion out of that system, you start raising leverage, and risk, geometrically.

Alas, the central banks do not have stores of silver which they can strategically sell into the market to satisfy demand and help their cronies in the bullion banks as they do with gold.

Doing a deal to satisfy demand in size is going to become increasingly difficult in such an imbalanced, poorly regulated market. A default tends to occurs at the core of the market, even while supply is available on the retail level, 'at the margins.' Until it is not.

In other words, you will probably be able to buy a few coins locally the day before the wholesalers default on their obligations, there is a run on supply, and nothing is available as deliverable inventory is quickly pulled off the market, except at the most usurious prices. And of course the governments intervene to save, and probably somewhat selectively, the naked shorts from ruin.

Ah, the problems of the successful entrepreneur in times of collapsing paper and its associated delusions.

3.bp.blogspot.com/-thjUiWVxUuE/TihRiJUxKQI/AAAAAAAARTs/tQE3x3tJm_I/s1600/nav.PNG

http://jessescrossroadscafe.blogspot.com/2011/07/will-sprotts-next-physical-silver-trust.html

ECU Silver Finds New High Grade Mineralization in Upper Levels of the San Juanes Mine

Wednesday July 20, 2011, 9:31 am

TORONTO, ONTARIO--(Marketwire - July 20, 2011) - ECU Silver Mining Inc. (TSX:ECU, OTC:ECUXF - News) is pleased to announce that it has uncovered additional high grade mineralization in the upper levels of the San Juanes mine which is located in the main Velardena Property. This new mineralization was encountered in a drift driven along the vein, 57 meters (187 feet) deeper than the initial access adit. So far, assays for the vein have been received for the first 30 meters (98 feet) with an average of 13.74 grams per tonne (g/t) gold (Au), 2,345 g/t silver (Ag), 3.42% lead (Pb), 0.82% Zinc (Zn) and 1.24% Copper (Cu) over a width of 1.29 meters (4.23 feet). More assays are expected on the continuation of the vein shortly as the drift has been pushed further and the vein sampled.

ECU believes that the increase in grades encountered in the current workings is primarily due to the increase in width of the vein from 10 to 20 cm to real widths varying between 1.0 and 1.9 meter, resulting from the vein entering a different host rock, in particular the softer limestone of the Aurora Formation. ECU has experienced grade increases when encountering the Aurora Formation limestone elsewhere in the mine, and plans to focus a portion of its exploration efforts in other sections of the mine where this formation is encountered. The following table sets forth the drill results:

Sample           Width        Gold      Silver      Lead      Zinc    Copper 
                    (m)    (Au g/t)    (Ag g/t)    (Pb %)    (Zn %)    (Cu %) 
 ---------------------------------------------------------------------------- 
 83040              1.3        9.15        1201       4.1       1.0       0.9 
 83038              1.4        0.29         402       0.2       0.8       1.8 
 83037              1.5        5.54         493       0.6       1.0       2.5 
 83009              1.9       21.91        5039       3.3       0.6       0.7 
 83025              1.1       14.87         676       0.9       0.6       0.5 
 83028              1.1       27.02        3858       4.6       0.9       1.2 
 83031              1.0       16.01        3007       7.5       0.8       0.9 
 83034              1.0       17.23        3724       8.9       0.9       1.2 
 ---------------------------------------------------------------------------- 
 Total             1.29       13.74       2,345      3.42      0.82      1.24

Sprott's John Embry - Mining Shares Will Be Like Internet Stocks in the ’90’s

July 13, 2011

With gold hitting new all-time highs and silver up over $2 at one point and mining shares taking off to the upside, today King World News interviewed John Embry, Chief Investment Strategist at $9 billion strong Sprott Asset Management. When asked where he sees things right now Embry stated,

“What’s been fascinating, and what was unappreciated by me in the early stages, was the enormous number of derivatives that have been created in the financial system. Because of the derivatives they’ve been able to keep this thing going for infinitely longer than any rational mind would have thought possible.”

Embry continues:

“You’ve been able to create leverage to the extent that you’ve never seen before and this is why I think the bubbles were able to get stretched out and last as long as they did. Because the balloon was blown up so much, I just think the aftermath in its finale is going to be extraordinarily unpleasant.”

When asked about the action in gold Embry responded,

“I have been waiting for this move and it was interesting that it (gold) broke out a couple of days ago with real vengeance in the Euro. I suspected that the next shoe to drop with be in North America and now we’ve got new highs today in US dollars, which should get even bigger headlines. Gold is starting to make new highs against all currencies, and this is what we envisioned in an environment in which the fiat currency system is breaking down.”

When asked if London Whistleblower Maguire’s interview was contributing to this rally Embry said,

“I believe it is. He made very strong points. One of his key points was regarding the whole pricing mechanism in the gold market, and that is when the physical market takes over from the paper market in establishing the price, it will represent the end of paper manipulation....

When asked about Turk’s comment in his KWN interview that when silver closes above $38 that it would be in the mid 40’s in a heartbeat Embry remarked,

“I totally agree with James Turk. I think the thing (silver) has been abused on the downside and it’s just like a coiled spring ready to explode. I think silver will go back to those highs we saw before that May raid faster than most people can imagine.

We haven’t even really seen money start to significantly flow into hard assets, when that occurs and it will occur, it’s going to have an outsized impact on the price of these things. The gold price should be $2,000 within the next six months and I believe the gold/silver ratio will decline tremendously in that environment. I have no problem with $100 silver, none, and that might just be jacks for openers.”

When asked about the mining shares specifically Embry had this to say,

“Well they haven’t moved up a lot with gold and silver, I mean they’ve been sort of wallowing a bit. We’re not talking about a trillion dollars worth of paper (total value of all mining companies), and consequently if money decides it has to come into this space, it’s going to be like internet stocks in the ’90’s except they (mining stocks) are going to have real fundamentals.”

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/7/13_Embry_-_Mining_Shares_Will_Be_Like_Internet_Stocks_in_the_90s.html

ECU.TO... bullish price objective on the P&F chart: $2.88

......................................................

ECU Silver Mining Obtains Interim Order for Plan of Arrangement

Monday July 18, 2011, 6:43 pm EDT

TORONTO, ONITARIO--(Marketwire - July 18, 2011) - On June 24, 2011, ECU Silver Mining Inc. (TSX:ECU; OTC:ECUXF - News; "ECU") and Golden Minerals Company ("Golden") announced that they had entered into an agreement to effect a "merger of equals" transaction structured as a plan of arrangement pursuant to the Quebec Business Corporations Act (the "Plan of Arrangement"). ECU is pleased to report that the Quebec Superior Court (the "Court") has issued an interim order authorizing ECU to, among other things, call a special meeting of its securityholders (the "Special Meeting") to obtain their approval of the Plan of Arrangement.

ECU expects to hold the Special Meeting in late August or early September, 2011 in Montreal, Quebec. The record date for determining the ECU securityholders entitled to receive notice of and vote at the Special Meeting has been set as July 26, 2011. The notice of meeting, management information circular, forms of proxy and letters of transmittal with respect to the Special Meeting are expected to be mailed to ECU securityholders in early August, 2011. ECU's board of directors has unanimously recommended that ECU securityholders vote in favour of the Plan of Arrangement. The hearing for the final order of the Court approving the Plan of Arrangement is expected to be held in late August or early September, 2011, with the closing of the Plan of Arrangement expected to occur in early September, 2011.

http://finance.yahoo.com/news/ECU-Silver-Mining-Obtains-ccn-41799693.html?x=0&.v=1

ECU Silver Mining Inc. Announces Closing of Private Placement of Convertible Notes

Thursday July 14, 2011, 12:58 pm

TORONTO, ONTARIO--(Marketwire - July 14, 2011) - ECU Silver Mining Inc. (TSX:ECU; OTC:ECUXF - News; "ECU") is pleased to report that it has closed the previously announced issuance of CAD$15 million principal amount, 0.0% senior unsecured convertible notes at par (the "Convertible Notes") in a private placement (the "Private Placement") to Golden Minerals Company ("Golden"). The Private Placement was described in the June 24, 2011 joint press release in which ECU and Golden announced the signing of an arrangement agreement pursuant to which the two companies have agreed to merge by way of plan of arrangement under the Quebec Business Corporations Act (the "Arrangement").

The Convertible Notes will mature on June 30, 2012 (subject to extension as described below), and will be convertible by Golden at any time prior to 5:00 p.m. (Toronto time) on June 29, 2012 into common shares of ECU ("ECU Shares") at a conversion rate of 1,032 ECU Shares for each CAD$1,000 in principal amount converted, consistent with the exchange ratio under the Arrangement. Upon the occurrence of certain specified fundamental changes, the Convertible Notes may be redeemed or converted into ECU Shares at the option of Golden based on 102% of the outstanding principal amount of the Convertible Notes. The Convertible Notes will also be redeemable by ECU, in whole, at any time after the record date for the ECU special meeting to approve the Arrangement and prior to the maturity date. ECU may elect to extend the maturity of the Convertible Notes to December 31, 2012 upon making a cash payment to Golden equal to 4% of the face value of the then outstanding Convertible Notes, payable on the day the extension option is exercised, with interest accruing on the Convertible Notes at 10% per annum during such extension period. The proceeds of the Private Placement are held in an escrow account and may only be used by ECU for certain specified purposes. At closing, CAD$2.8 million of such proceeds were released to ECU.

About ECU:

ECU Silver Mining Inc. is focused on the exploration, development and mining of silver, gold and base metals at its Velardena District Properties in Durango, Mexico, where it holds an 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 and operates two mills with a combined capacity of 820 tonnes per day.
Website: http://http://www.ecu.ca/

Contact:

Michel Roy
ECU Silver Mining Inc.
Chairman and CEO
Torreon, Mexico
011 52 871 747 5750

Stephen Altmann
ECU Silver Mining Inc.
President
Toronto, Canada
(416) 366-2428

Mark Butler
ECU Silver Mining Inc.
Investor Relations
Toronto, Canada
(905) 602-4248

http://finance.yahoo.com/news/ECU-Silver-Mining-Inc-ccn-3293593923.html?x=0&.v=1

ECU Silver shareholders will own a piece of this when the consolidation with Golden Minerals becomes 'official'


From the Golden Minerals website:

Bolivia Paca-Pulacayo

In January 2011, we (Golden Minerals) closed a purchase and sale agreement with Apogee Minerals Limited ("Apogee") whereby we sold to Apogee all of the issued and outstanding shares of a Bolivian subsidiary which holds a 100% interest in the Paca Pulacayo property in Bolivia. Pursuant to the agreement, Apogee issued to us 5,000,000 of its common shares. Eighteen months following the closing of the transaction, Apogree will issue to us an additional 3,000,000 of its common shares and pay us a cash fee in the amount of $500,000.

In a recent PR:

Apogee Intersects 4.0 Meters Grading 350.75 g/t Silver and 8.0 Meters Grading 242.38 g/t Silver at the Pulacayo Deposit

Wednesday June 22, 2011, 8:00 am EDT

(excerpted)

Neil Ringdahl, CEO of Apogee, states, "The results from our fast-tracked drilling program continue to be most encouraging; this will undoubtedly have a positive impact on our updated resource statement which we plan to release in the fourth quarter, and also on the on the feasibility study for a multi-million ounce per year operation at Pulacayo." The feasibility study is scheduled to be completed in the first half of 2012.

More at:

http://finance.yahoo.com/news/Apogee-Intersects-40-Meters-ccn-1987448486.html?x=0&.v=1

Excerpted from today's Ed Steer's Gold and Silver Daily


Here are three paragraphs about the massive short position that exists in the SLV ETF that I snipped out of silver analyst Ted Butler's weekend commentary to his paying subscribers on Saturday...


"The latest short figure for shares in SLV was just released. As of June 15, the short position for SLV rose by 4.2 million shares (ounces), to a new record of more than 37 million shares. The SLV short position now constitutes more than 11.6% of all shares outstanding. This is truly an obscenely large short position for any stock; so large that it is inherently fraudulent and manipulative to the price of SLV from a size point alone. In turn, the price of silver itself is also manipulated given that SLV is the largest inventory of silver in the world. It also means that there are more than 37 million shares of SLV in existence that have no silver backing, as required by the prospectus. There is no question in my mind that BlackRock, the Trust’s sponsor is negligent for this continuing fraud and manipulation in SLV and will, hopefully, be brought to justice."

"So large is the short position in SLV, that it seems impossible that the largest COMEX short, JPMorgan, is not somehow involved in it (and every other manipulative dirty trick in silver). To my knowledge, there is no disclosure as to the identity of short sellers in stocks. As I previously indicated, it seems patently unfair that large long holders in stocks must publicly identify themselves over certain thresholds, but no such rule applies to shorts. My suspicion is that JPMorgan is involved in the SLV short in conjunction with its big COMEX short position. On the one hand, the concentrated COMEX short position has come down significantly; but on the other hand, the short position in SLV has grown to levels never seen. Is there a connection here? I think so. I did privately ask (at the highest levels) that the CFTC inquire into this with the SEC, but asking and getting are sometimes two different things. But given the unusual price action in silver, both at the beginning of May and late last week it would seem reasonable for the regulators to see if there is a connection between the COMEX and SLV short positions. These are very unusual circumstances."

"It is precisely these unusual silver short positions on the COMEX and in shares of SLV that contribute to silver being very special. These short positions exist for a very basic reason; there is not enough real silver available for sale at current prices. That makes it necessary for shares of SLV to be sold short, as not enough silver is available to issue new shares legitimately and in accordance with the prospectus. That makes it necessary for additional COMEX contracts to be sold by existing short holders even though they can’t economically justify their existing large short positions."

http://www.caseyresearch.com/gsd/home

From tonight's Midas report on the proposed merger

By gwr1
posted on Jun 27, 11 07:52PM

Dear Clients,

On Friday June 24, 2011, ECU Silver Mining, Inc (ECU) and Golden Minerals Company announced a definitive agreement to combine the two companies, representing a merger of equals and, "creating a new leading junior silver mining company with a portfolio of growth projects, primarily in Mexico and Argentina. The company combined will retain the Golden Minerals name and remain headquartered in Golden, Colorado."

For many months, ECU President, Steve Altmann has sought a business combination in order to strengthen the company and enhance shareholder value.

In my opinion, this is an extremely positive development and provides the following benefits to ECU and its shareholders:

1) Removes the $16 million debt from ECU’s balance sheet.

2) Golden Mineral’s $104 million cash position allows ECU the capital to further develop mines and expand production at Valardena.

3) Golden Mineral adds a highly qualified production management team to ECU’s equally-talented exploration team.

4) Since ECU shares (currently valued near $1/sh.) will be converted into Golden Mineral’s shares (currently valued near $20/sh.) on a 20:1 basis, it will remove the massive float of ECU’s 317 million shares outstanding which allowed the hedge funds to manipulate the stock via naked-short positions.

5) The combination will allow much greater access to the capital markets for future growth.

6) The merger will provide much greater institutional and analytical support.

7) The combined company will now be listed on both the NYSE AMEX and the TSX providing increased liquidity and visibility.

8) Golden Mineral’s mine portfolio contains a (potentially) world-class El Quevar Project in Argentina which provides further geographical diversification to ECU’s Mexican-based mines.

The transaction is supported by both Boards of Directors as well as major shareholders of both companies. It is expected to close in late August-early September, and proxies will be mailed to shareholders for voting in July 2011.

Wistar W. Holt
June 27, 2011

wholt@holtshapard.com

http://agoracom.com/ir/ECU/forums/discussion/topics/489768-from-tonight-s-midas-report-on-proposed-merger/messages/1567800#message

.....excerpted from the Golden Truth Blog:

June 24, 2011

Many of you have by now read about the merger deal between Golden Minerals and ECU Silver. It has the potential to yield some brilliant synergies, as Golden Minerals has two potentially prolific silver properties plus $100 million in cash and ECU needs cash in order to get the Valerdena blockbuster over the "finish line." I've met the new CEO of the combined entity, Jeff Clevenger, and he is a very accomplished mining company operator. You can read about the details of the transaction and the expected synergies at:

http://www.goldenminerals.com/present_ECU-June-2011.php

Whoever is selling shares in ECU today has no clue whatsoever how to analyze mining companies. This deal will instantly give ECU the managerial, operational and financial "bulk" to help it fully achieve the untapped value of its massive silver deposit. I also know that ECU's geologists were "blown away" by the potential of Golden Mineral's Argentina silver deposit. For the record, I added some ECU to the fund today after it sold off. The combined entity will have some large investor support, including Sprott and Sentient Group, a private equity investment group which specializes in global resources and owns 19% of Golden Minerals.

http://truthingold.blogspot.com/

<<<Thoughts?>>>

None that amount to much I must say...... <g>

#msg-64588613

Thoughts?

Golden Minerals Company and ECU Silver Mining Inc. Announce Merger of Equals Creating a New Growing Silver Mining Company

(All Figures, Except per Share Amounts, Are in $ CAN Unless Otherwise Stated or Unless Context Requires Otherwise)

Friday June 24, 2011, 10:05 am

GOLDEN, COLORADO and TORONTO--(Marketwire - 06/24/11) - Golden Minerals Company (AMEX:AUMN - News) (TSX:AUM - News) ("Golden Minerals") and ECU Silver Mining Inc. (TSX:ECU; OTC:ECUXF - News) ("ECU") are pleased to announce that they have entered into a definitive agreement to combine the two companies creating a new leading junior silver mining company with a portfolio of growth projects, primarily in Mexico and Argentina. The combined company will retain the Golden Minerals name and remain headquartered in Golden, Colorado. The combination of Golden Minerals and ECU (the "Transaction"), which represents a merger of equals, has been unanimously agreed to by the boards of directors of Golden Minerals and ECU, and both boards of directors will be recommending that their respective shareholders vote in favor of the proposed Transaction.

Under the terms of the Transaction, which will be structured as a plan of arrangement (the "Arrangement") under the Québec Business Corporations Act, each ECU share will be exchanged for 0.05 Golden Minerals shares and $0.000394 in cash. Upon completion of the Transaction, existing Golden Minerals shareholders and ECU shareholders will own approximately 49% and 51%, respectively, of the outstanding common stock of the combined company.

The Sentient Group, one of Golden Minerals' largest stockholders with approximately a 19% ownership stake, has indicated to Golden Minerals that it supports and intends to vote in favor of the proposed Transaction. Sentient has also expressed an interest in investing further capital in the combined company to retain its current proportionate ownership, although no agreement has been reached.

Highlights of the Transaction:

* Creates a new leading junior silver mining company with an attractive portfolio of assets consisting of the silver mining operations in the Velardeña mining district, Durango, Mexico; the El Quevar advanced exploration project in the Salta Province, Argentina; the advanced exploration-stage Zacatecas project in Zacatecas, Mexico; a number of drill testing projects in Peru (Cochabamba, Jehuamarca), Mexico (La Pinta), and Argentina (Atlas); and a large portfolio of approximately 40 exploration properties in the reconnaissance/target delineation stage located primarily in South America

* Creates a combined company with greater scale, financial strength and an enhanced capital markets profile
o The combined company will have sufficient cash to advance expansion plans at Velardeña and the continued development of El Quevar
o Combined basic market capitalization of over $600 million, based on current prices, with an expected increased liquidity profile on both NYSE Amex and the TSX
o Improved access to global capital markets to assist future growth efforts
o Potential expansion of broker research coverage

* Combines complementary management teams with proven track records of success to enhance and expand existing portfolio of assets
o Golden Minerals' management team, with its strong expertise and proven track record in mine building and operations, to focus on optimization and potential expansion of Velardeña mining operations
o ECU's exploration expertise to further enhance exploration efforts at El Quevar, Zacatecas and other drill testing projects across South America
o Large portfolio of projects combined with enhanced scale and broader reach to create opportunities for growth in existing and new jurisdictions

* Increased leverage to precious metals with significant base metals credits
o Combined Measured and Indicated resources of approximately 25 million ounces silver, 26 million pounds lead and 37 million pounds zinc
o Combined Inferred resources of approximately 187 million ounces silver, 2 million ounces gold, 1 billion pounds lead and 1 billion pounds zinc
o Opportunities to expand current resource base in Mexico, Argentina and Peru

Jeffrey Clevenger, President and CEO of Golden Minerals, stated "The combination of Golden Minerals and ECU presents a unique opportunity for the shareholders of both companies to participate in the creation of a new silver mining company with an attractive pipeline for further growth. It accelerates our combined corporate growth plans utilizing Golden Minerals' operating experience and ECU's strong record of exploration excellence and discovery. We will continue to grow the combined company with discipline, and use our financial strength with a view to creating future value for all of our shareholders."

Michel Roy, Chairman and CEO of ECU, stated "This combination represents a true merger of equals and provides the shareholders of both companies an opportunity to participate in a uniquely positioned silver mining company. Golden Minerals' and ECU's asset portfolios and management teams are highly complementary and provide both companies with increased opportunities to leverage the extensive, highly prospective projects in Mexico, Argentina and Peru."

Transaction Details

The proposed business combination between Golden Minerals and ECU is expected to be completed by way of a court-approved plan of arrangement and will be subject to the approval of holders of not less than 66 2/3% of votes cast by holders of ECU common shares and by holders of not less than 66 2/3% of votes cast by holders of ECU common shares and ECU's outstanding options, warrants and convertible securities voting together with ECU common shares as a single class. In addition, a majority of the common stockholders of Golden Minerals must approve the issuance of the Golden Minerals common stock to be issued in the Transaction. Full details of the Transaction will be included in the ECU management information circular and the Golden Minerals proxy statement, both of which are expected to be mailed to their respective shareholders in July 2011.

Under the terms of the business combination, shareholders of ECU will receive 0.05 common shares of Golden Minerals (the "Exchange Ratio") and $0.000394 in cash (approximately $125,000 in the aggregate) for each share of ECU held. All of ECU's unexercised options and warrants will be exchanged for Golden Minerals options and warrants, respectively, with the number and exercise prices of such options and warrants to be adjusted based on the Exchange Ratio.

Based on Golden Minerals' last closing stock price, the Exchange Ratio represents a premium of approximately 7% to the 20 (trading) day volume weighted average trading price for ECU. The Exchange Ratio represents an "at-market" transaction based on a 20 (trading) day volume weighted average trading price of each of ECU's common shares and Golden Minerals' common stock.

Upon completion of the Transaction, the combined company will have approximately 31.2 million shares outstanding (34.2 million on a fully-diluted basis) and Golden Minerals shareholders and ECU shareholders will hold, on a fully diluted basis, approximately 45% and 55% of the combined entity, respectively.

The definitive agreement includes a commitment by each of Golden Minerals and ECU to not solicit alternative transactions to the Transaction. Each company has agreed to reimburse expenses or pay a break fee to the other party of up to $10 million upon the occurrence of certain events. In addition, each company has granted the other party a right to match any competing proposal. Each of the directors and officers of ECU has indicated an intention to vote in favor of the Transaction, and each of the directors and officers of Golden Minerals has indicated an intention to vote in favor of the issuance of shares in connection with the Transaction.

Private Placement

In connection with the Transaction, ECU and Golden Minerals have entered into a definitive subscription agreement pursuant to which ECU will issue to Golden Minerals $15 million principal amount, 0.0% senior unsecured convertible notes at par (the "Notes") in a private placement (the "Private Placement"). Subject to regulatory approval, the Notes will mature on June 30, 2012 (subject to extension as described below), and will be convertible by Golden Minerals at any time prior to 5:00 p.m. (Toronto time) on June 29, 2012 into common shares of ECU at a conversion price of $0.97 per common share, consistent with the Exchange Ratio. The Notes will also be redeemable at par by ECU, in whole or in part, at any time after the record date for voting at the ECU shareholder meeting. In addition, ECU may elect to extend the maturity of the Notes for up to 6 months under certain conditions, with interest accruing at 10% per annum during such extension period. The proceeds of the Private Placement will be used for general corporate purposes and for ECU's ongoing expansion plans at Velardeña until closing of the proposed Transaction. Completion of the Private Placement is subject to the satisfaction of certain regulatory requirements.

Management Team and Board of Directors

Following completion of the Transaction, Michael T. Mason is expected to join the board of directors of the combined company, bringing the total number of directors to seven. Jeffrey Clevenger will retain his position as Chairman and CEO, and Stephen Altmann will assume the role of President. Mr. Clevenger brings extensive experience as a senior operator through his past involvement in mining operations at the senior level, including with Cyprus Amax Minerals Company, a former large integrated copper and molybdenum producer with operations in North and South America, and Phelps Dodge Corporation, a former large base metals producer with mining operations all over the world, among others. Mr. Altmann brings over fifteen years of financial and strategic advisory experience, serving as a senior corporate finance and merger and acquisition advisor for firms including RBC Dominion Securities, Credit Suisse First Boston, Scotia Capital and Desjardins Securities prior to joining ECU, as President, in 2007. Michel Roy will be staying on as a senior consultant.

Advisors and Counsel

Golden Minerals' exclusive financial advisor is BMO Capital Markets, and Golden Minerals is being advised on legal matters by Fasken Martineau DuMoulin LLP and Davis Graham & Stubbs LLP. BMO Capital Markets has provided an opinion to the Golden Minerals board of directors that, subject to the assumptions, limitations, and qualifications set out therein, the Exchange Ratio is fair, from a financial point of view, to Golden Minerals.

ECU's financial advisor is Dahlman Rose & Company, LLC, and ECU is being advised on legal matters by Blake, Cassels & Graydon LLP and Skadden, Arps, Slate, Meagher & Flom LLP. Stonecap Securities Inc. has provided an opinion to the ECU board of directors that, as at the date hereof, subject to the assumptions, limitations, and qualifications set out therein, the Transaction is fair, from a financial point of view, to ECU shareholders.

Conference Call and Webcast Information

A joint conference call hosted by Jeffrey Clevenger and Stephen Altmann will be held today at 11:00 am (ET) to discuss the Transaction. Anyone may join the call by dialing toll free (877) 278-9678 to access the call from outside Canada or the U.S. Passcode #79101843. You can listen to a recorded playback of the call by dialing (800) 642-1687 or (706) 645-9291 for calls outside Canada and the U.S. Passcode #79101843.

The Golden Minerals and ECU business combination presentation is available on the homepage of both companies' websites. The conference call will be available for replay. For further information on Golden Minerals, please visit its website at http://www.goldenminerals.com For further information on ECU, please visit its website at http://www.ecu.ca

About Golden Minerals

Golden Minerals is a Delaware corporation based in Golden, Colorado, primarily engaged in the advancement of its pipeline of exploration projects in Mexico and South America. Golden Minerals has a large portfolio of exploration projects, including its El Quevar project in the Salta Province of northwestern Argentina and advanced stage drilling projects in Mexico and Peru. Golden Minerals' experienced management team has a proven in-house ability to explore, develop and operate mining projects.

About ECU

ECU Silver Mining Inc. is focused on the exploration, development and mining of silver, gold and base metals at its Velardeña District Properties in Durango, Mexico, where it holds an 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 and operates two mills with a combined capacity of 820 tonnes per day.

Additional Information and Where to Find It

In connection with Golden Minerals' and ECU's solicitation of proxies with respect to the meeting of shareholders of each of Golden Minerals and ECU to be called with respect to the proposed Arrangement, Golden Minerals will file a proxy statement with the Securities and Exchange Commission ("SEC") and ECU will file a management information circular with Canadian securities regulatory authorities. SHAREHOLDERS ARE ADVISED TO READ THE PROXY STATEMENT OR MANAGEMENT INFORMATION CIRCULAR, AS APPLICABLE, WHEN IT IS FINALIZED AND DISTRIBUTED TO SHAREHOLDERS BECAUSE IT WILL CONTAIN IMPORTANT INFORMATION. Shareholders will be able to obtain a free copy of the Golden Minerals proxy statement (when available) and other relevant documents filed with the SEC from the SEC's website at http://www.sec.gov and a free copy of the ECU management information circular (when available) and other relevant documents filed with Canadian securities authorities, including technical reports relating to the Golden Minerals and ECU properties, at http://www.sedar.com Shareholders of Golden Minerals will also be able to obtain a free copy of the proxy statement and other relevant documents (when available) by directing a request by mail or telephone to Golden Minerals, 350 Indiana Street, Suite 800, Golden, Colorado 80401 or (303) 839-5060, or from Golden Minerals' website, http://www.goldenminerals.com Shareholders of ECU will also be able to obtain a free copy of the management information circular and other relevant documents (when available) by directing a request by mail or telephone to ECU, 1116 Granada Avenue, Rouyn-Noranda, QC, J9Y 1G9, Canada or 819-797-1210, or from ECU's website, http://www.ecu.ca

Interests of Participants in the Solicitation of Proxies

Golden Minerals and certain of its directors, executive officers and other members of its management and employees may, under the rules of the SEC, be deemed to be "participants" in the solicitation of proxies from its shareholders in connection with the proposed Transaction. Information concerning the interests of the persons who may be considered "participants" in the solicitation is set forth in Golden Mineral's proxy statements and Annual Reports on Form 10-K (including any amendments thereto), previously filed with the SEC, and in the proxy statement relating to the Arrangement when it becomes available. Copies of these documents can be obtained, without charge, at the SEC's website at http://www.sec.gov or by directing a request to Golden Minerals at the address above.

Cautionary Note to United States Investors Regarding Estimates of Measured, Indicated and Inferred Resources

The terms "mineral resource," "measured mineral resource," "indicated mineral resource" and "inferred mineral resource," as used in this press release, are Canadian mining terms and are not normally permitted to be used in reports and registration statements filed with the SEC by U.S. registered companies. The SEC permits U.S. companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. Accordingly, information contained in this press release describing the combined company's "mineral resources" is not directly comparable to information made public by U.S. companies subject to reporting requirements under U.S. securities laws (wherein "reserves," and not "resources," may be disclosed and discussed). Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves. "Inferred mineral resources" have a great amount of uncertainty as to their existence and economic feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. Investors are cautioned not to assume that all or any part of an inferred mineral resource exists or is economically minable.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this press release.

THIS NEWS RELEASE DOES NOT CONSTITUTE AN OFFER OF ANY SECURITIES FOR SALE.

http://finance.yahoo.com/news/Golden-Minerals-Company-and-iw-2448467955.html?x=0&.v=1

Golden Minerals Company and ECU Silver Mining Inc. Announce Merger of Equals Creating a New Growing Silver Mining Company
(All Figures, Except per Share Amounts, Are in $ CAN Unless Otherwise Stated or Unless Context Requires Otherwise)
Jun. 24, 2011 (Marketwire Canada) --

GOLDEN, COLORADO and TORONTO--(Marketwire - June 24, 2011) - Golden Minerals Company (NYSE Amex: AUMN) (TSX: AUM) ("Golden Minerals") and ECU Silver Mining Inc. (TSX: ECU) ("ECU") are pleased to announce that they have entered into a definitive agreement to combine the two companies creating a new leading junior silver mining company with a portfolio of growth projects, primarily in Mexico and Argentina. The combined company will retain the Golden Minerals name and remain headquartered in Golden, Colorado. The combination of Golden Minerals and ECU (the "Transaction"), which represents a merger of equals, has been unanimously agreed to by the boards of directors of Golden Minerals and ECU, and both boards of directors will be recommending that their respective shareholders vote in favor of the proposed Transaction.

Under the terms of the Transaction, which will be structured as a plan of arrangement (the "Arrangement") under the Quebec Business Corporations Act, each ECU share will be exchanged for 0.05 Golden Minerals shares and $0.000394 in cash. Upon completion of the Transaction, existing Golden Minerals shareholders and ECU shareholders will own approximately 49% and 51%, respectively, of the outstanding common stock of the combined company.

The Sentient Group, one of Golden Minerals' largest stockholders with approximately a 19% ownership stake, has indicated to Golden Minerals that it supports and intends to vote in favor of the proposed Transaction. Sentient has also expressed an interest in investing further capital in the combined company to retain its current proportionate ownership, although no agreement has been reached.

Highlights of the Transaction:

- Creates a new leading junior silver mining company with an attractive portfolio of assets consisting of the silver mining operations in the Velardena mining district, Durango, Mexico; the El Quevar advanced exploration project in the Salta Province, Argentina; the advanced exploration-stage Zacatecas project in Zacatecas, Mexico; a number of drill testing projects in Peru (Cochabamba, Jehuamarca), Mexico (La Pinta), and Argentina (Atlas); and a large portfolio of approximately 40 exploration properties in the reconnaissance/target delineation stage located primarily in South America

- Creates a combined company with greater scale, financial strength and an enhanced capital markets profile

- The combined company will have sufficient cash to advance expansion plans at Velardena and the continued development of El Quevar

- Combined basic market capitalization of over $600 million, based on current prices, with an expected increased liquidity profile on both NYSE Amex and the TSX

- Improved access to global capital markets to assist future growth efforts

- Potential expansion of broker research coverage

- Combines complementary management teams with proven track records of success to enhance and expand existing portfolio of assets

- Golden Minerals' management team, with its strong expertise and proven track record in mine building and operations, to focus on optimization and potential expansion of Velardena mining operations

- ECU's exploration expertise to further enhance exploration efforts at El Quevar, Zacatecas and other drill testing projects across South America

- Large portfolio of projects combined with enhanced scale and broader reach to create opportunities for growth in existing and new jurisdictions

- Increased leverage to precious metals with significant base metals credits

- Combined Measured and Indicated resources of approximately 25 million ounces silver, 26 million pounds lead and 37 million pounds zinc

- Combined Inferred resources of approximately 187 million ounces silver, 2 million ounces gold, 1 billion pounds lead and 1 billion pounds zinc

- Opportunities to expand current resource base in Mexico, Argentina and Peru

Jeffrey Clevenger, President and CEO of Golden Minerals, stated "The combination of Golden Minerals and ECU presents a unique opportunity for the shareholders of both companies to participate in the creation of a new silver mining company with an attractive pipeline for further growth. It accelerates our combined corporate growth plans utilizing Golden Minerals' operating experience and ECU's strong record of exploration excellence and discovery. We will continue to grow the combined company with discipline, and use our financial strength with a view to creating future value for all of our shareholders."

Michel Roy, Chairman and CEO of ECU, stated "This combination represents a true merger of equals and provides the shareholders of both companies an opportunity to participate in a uniquely positioned silver mining company. Golden Minerals' and ECU's asset portfolios and management teams are highly complementary and provide both companies with increased opportunities to leverage the extensive, highly prospective projects in Mexico, Argentina and Peru."

Transaction Details

The proposed business combination between Golden Minerals and ECU is expected to be completed by way of a court-approved plan of arrangement and will be subject to the approval of holders of not less than 66 2/3% of votes cast by holders of ECU common shares and by holders of not less than 66 2/3% of votes cast by holders of ECU common shares and ECU's outstanding options, warrants and convertible securities voting together with ECU common shares as a single class. In addition, a majority of the common stockholders of Golden Minerals must approve the issuance of the Golden Minerals common stock to be issued in the Transaction. Full details of the Transaction will be included in the ECU management information circular and the Golden Minerals proxy statement, both of which are expected to be mailed to their respective shareholders in July 2011.

Under the terms of the business combination, shareholders of ECU will receive 0.05 common shares of Golden Minerals (the "Exchange Ratio") and $0.000394 in cash (approximately $125,000 in the aggregate) for each share of ECU held. All of ECU's unexercised options and warrants will be exchanged for Golden Minerals options and warrants, respectively, with the number and exercise prices of such options and warrants to be adjusted based on the Exchange Ratio.

Based on Golden Minerals' last closing stock price, the Exchange Ratio represents a premium of approximately 7% to the 20 (trading) day volume weighted average trading price for ECU. The Exchange Ratio represents an "at-market" transaction based on a 20 (trading) day volume weighted average trading price of each of ECU's common shares and Golden Minerals' common stock.

Upon completion of the Transaction, the combined company will have approximately 31.2 million shares outstanding (34.2 million on a fully-diluted basis) and Golden Minerals shareholders and ECU shareholders will hold, on a fully diluted basis, approximately 45% and 55% of the combined entity, respectively.

The definitive agreement includes a commitment by each of Golden Minerals and ECU to not solicit alternative transactions to the Transaction. Each company has agreed to reimburse expenses or pay a break fee to the other party of up to $10 million upon the occurrence of certain events. In addition, each company has granted the other party a right to match any competing proposal. Each of the directors and officers of ECU has indicated an intention to vote in favor of the Transaction, and each of the directors and officers of Golden Minerals has indicated an intention to vote in favor of the issuance of shares in connection with the Transaction.

Private Placement

In connection with the Transaction, ECU and Golden Minerals have entered into a definitive subscription agreement pursuant to which ECU will issue to Golden Minerals $15 million principal amount, 0.0% senior unsecured convertible notes at par (the "Notes") in a private placement (the "Private Placement"). Subject to regulatory approval, the Notes will mature on June 30, 2012 (subject to extension as described below), and will be convertible by Golden Minerals at any time prior to 5:00 p.m. (Toronto time) on June 29, 2012 into common shares of ECU at a conversion price of $0.97 per common share, consistent with the Exchange Ratio. The Notes will also be redeemable at par by ECU, in whole or in part, at any time after the record date for voting at the ECU shareholder meeting. In addition, ECU may elect to extend the maturity of the Notes for up to 6 months under certain conditions, with interest accruing at 10% per annum during such extension period. The proceeds of the Private Placement will be used for general corporate purposes and for ECU's ongoing expansion plans at Velardena until closing of the proposed Transaction. Completion of the Private Placement is subject to the satisfaction of certain regulatory requirements.

Management Team and Board of Directors

Following completion of the Transaction, Michael T. Mason is expected to join the board of directors of the combined company, bringing the total number of directors to seven. Jeffrey Clevenger will retain his position as Chairman and CEO, and Stephen Altmann will assume the role of President. Mr. Clevenger brings extensive experience as a senior operator through his past involvement in mining operations at the senior level, including with Cyprus Amax Minerals Company, a former large integrated copper and molybdenum producer with operations in North and South America, and Phelps Dodge Corporation, a former large base metals producer with mining operations all over the world, among others. Mr. Altmann brings over fifteen years of financial and strategic advisory experience, serving as a senior corporate finance and merger and acquisition advisor for firms including RBC Dominion Securities, Credit Suisse First Boston, Scotia Capital and Desjardins Securities prior to joining ECU, as President, in 2007. Michel Roy will be staying on as a senior consultant.

Advisors and Counsel

Golden Minerals' exclusive financial advisor is BMO Capital Markets, and Golden Minerals is being advised on legal matters by Fasken Martineau DuMoulin LLP and Davis Graham & Stubbs LLP. BMO Capital Markets has provided an opinion to the Golden Minerals board of directors that, subject to the assumptions, limitations, and qualifications set out therein, the Exchange Ratio is fair, from a financial point of view, to Golden Minerals.

ECU's financial advisor is Dahlman Rose & Company, LLC, and ECU is being advised on legal matters by Blake, Cassels & Graydon LLP and Skadden, Arps, Slate, Meagher & Flom LLP. Stonecap Securities Inc. has provided an opinion to the ECU board of directors that, as at the date hereof, subject to the assumptions, limitations, and qualifications set out therein, the Transaction is fair, from a financial point of view, to ECU shareholders.

Conference Call and Webcast Information

A joint conference call hosted by Jeffrey Clevenger and Stephen Altmann will be held today at 11:00 am (ET) to discuss the Transaction. Anyone may join the call by dialing toll free (877) 278-9678 to access the call from outside Canada or the U.S. Passcode #79101843. You can listen to a recorded playback of the call by dialing (800) 642-1687 or (706) 645-9291 for calls outside Canada and the U.S. Passcode #79101843.

The Golden Minerals and ECU business combination presentation is available on the homepage of both companies' websites. The conference call will be available for replay. For further information on Golden Minerals, please visit its website at www.goldenminerals.com. For further information on ECU, please visit its website at www.ecu.ca.

About Golden Minerals

Golden Minerals is a Delaware corporation based in Golden, Colorado, primarily engaged in the advancement of its pipeline of exploration projects in Mexico and South America. Golden Minerals has a large portfolio of exploration projects, including its El Quevar project in the Salta Province of northwestern Argentina and advanced stage drilling projects in Mexico and Peru. Golden Minerals' experienced management team has a proven in-house ability to explore, develop and operate mining projects.

About ECU

ECU Silver Mining Inc. is focused on the exploration, development and mining of silver, gold and base metals at its Velardena District Properties in Durango, Mexico, where it holds an 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 and operates two mills with a combined capacity of 820 tonnes per day.

Cautionary Statement on Forward-looking Information

This press release contains forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 27E of the U.S. Securities Exchange Act of 1934 and applicable Canadian securities laws, including, but not limited to, forward looking statements in respect of the Transaction and the Private Placement. Such statements include, without limitation, statements regarding or inferring the future results of operations, performance and achievements of ECU, Golden Minerals or the combined company, including anticipated benefits from the Transaction, planned and potential exploration and development opportunities of the combined company, including at the Velardena and El Quevar projects. There are risks inherent in the nature of the proposed Transaction, including risk regarding the integration of the two entities, incorrect assessments of the values of the other entity, and failure to obtain the required security holder, court, regulatory and other third party approvals. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate and similar expressions, or are those which, by their nature, refer to future events. Although Golden Minerals and ECU believe that such statements are reasonable, they can give no assurance that such expectations will prove to be correct.

This press release also contains forward-looking statements and information concerning the anticipated timing and completion of the Transaction and the Private Placement. Golden Minerals and ECU have provided these anticipated times in reliance on certain assumptions that they believe are reasonable at this time, including assumptions as to the time required to prepare meeting materials for mailing, the timing of receipt of the necessary regulatory and court approvals, and the satisfaction of and time necessary to satisfy the conditions to the closing of the Transaction and the Private Placement. These dates may change for a number of reasons, including unforeseen delays in preparing meeting materials, inability to secure necessary regulatory or court approvals in the time assumed or the need for additional time to satisfy the conditions to the completion of the Transaction. In addition, the Transaction is subject to a number of conditions which are typical for transactions of this nature. Failure to satisfy any of these conditions may result in the termination of the definitive agreement to combine ECU and Golden Minerals and the Transaction may not be completed. Readers are cautioned that the foregoing list of factors is not exhaustive.

This press release includes forward-looking statements relating to the potential general financing plans of ECU, the Private Placement and the use of proceeds from the Private Placement. Although Golden Minerals and ECU believe that the expectations reflected by the forward-looking statements presented in this press release are reasonable, these forward-looking statements have been based on assumptions and factors concerning future events, including ECU's ability to obtain and maintain any necessary permits, consents, or authorizations needed to continue its expansion plans at Velardena, that may prove to be inaccurate. Those assumptions and factors are based on information currently available to ECU and Golden Minerals about ECU and the business in which it operates.

This press release also includes forward-looking statements relating to the potential for further investment by Sentient Group in the combined company. Golden Minerals and ECU caution investors that no agreement with respect to such further investment has been reached and provide no assurance that any such agreement will be reached.

Moreover, Golden Minerals and ECU caution investors that any forward-looking statements by Golden Minerals or ECU are not guarantees of future results or performance, and that actual results may differ materially from those expressed or implied in forward-looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located, significant downward variations in the market price of any minerals produced, Golden Minerals' or ECU's inability to obtain any necessary permits, consents or authorizations required for their activities, to produce minerals from their properties successfully or profitably, to continue their projected growth, or to raise the necessary capital or to be fully able to implement their business strategies. Accordingly, readers should not place undue reliance on the forward-looking statements or information contained in this press release concerning these items. Additional information on these and other factors that could affect Golden Minerals' and ECU's, or the combined company's, operations or financial results are included in reports on file with applicable securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com), the EDGAR website (www.sec.gov), Golden Minerals' website (www.goldenminerals.com) or ECU's website (www.ecu.ca).

The forward-looking statements and information contained in this press release are made as of the date hereof and Golden Minerals and ECU undertake no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless expressly required by applicable securities laws.

Additional Information and Where to Find It

In connection with Golden Minerals' and ECU's solicitation of proxies with respect to the meeting of shareholders of each of Golden Minerals and ECU to be called with respect to the proposed Arrangement, Golden Minerals will file a proxy statement with the Securities and Exchange Commission ("SEC") and ECU will file a management information circular with Canadian securities regulatory authorities. SHAREHOLDERS ARE ADVISED TO READ THE PROXY STATEMENT OR MANAGEMENT INFORMATION CIRCULAR, AS APPLICABLE, WHEN IT IS FINALIZED AND DISTRIBUTED TO SHAREHOLDERS BECAUSE IT WILL CONTAIN IMPORTANT INFORMATION. Shareholders will be able to obtain a free copy of the Golden Minerals proxy statement (when available) and other relevant documents filed with the SEC from the SEC's website at www.sec.gov and a free copy of the ECU management information circular (when available) and other relevant documents filed with Canadian securities authorities, including technical reports relating to the Golden Minerals and ECU properties, at www.sedar.com. Shareholders of Golden Minerals will also be able to obtain a free copy of the proxy statement and other relevant documents (when available) by directing a request by mail or telephone to Golden Minerals, 350 Indiana Street, Suite 800, Golden, Colorado 80401 or (303) 839-5060, or from Golden Minerals' website, www.goldenminerals.com. Shareholders of ECU will also be able to obtain a free copy of the management information circular and other relevant documents (when available) by directing a request by mail or telephone to ECU, 1116 Granada Avenue, Rouyn-Noranda, QC, J9Y 1G9, Canada or 819-797-1210, or from ECU's website, www.ecu.ca.

Interests of Participants in the Solicitation of Proxies

Golden Minerals and certain of its directors, executive officers and other members of its management and employees may, under the rules of the SEC, be deemed to be "participants" in the solicitation of proxies from its shareholders in connection with the proposed Transaction. Information concerning the interests of the persons who may be considered "participants" in the solicitation is set forth in Golden Mineral's proxy statements and Annual Reports on Form 10-K (including any amendments thereto), previously filed with the SEC, and in the proxy statement relating to the Arrangement when it becomes available. Copies of these documents can be obtained, without charge, at the SEC's website at www.sec.gov or by directing a request to Golden Minerals at the address above.

Cautionary Note to United States Investors Regarding Estimates of Measured, Indicated and Inferred Resources

The terms "mineral resource," "measured mineral resource," "indicated mineral resource" and "inferred mineral resource," as used in this press release, are Canadian mining terms and are not normally permitted to be used in reports and registration statements filed with the SEC by U.S. registered companies. The SEC permits U.S. companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. Accordingly, information contained in this press release describing the combined company's "mineral resources" is not directly comparable to information made public by U.S. companies subject to reporting requirements under U.S. securities laws (wherein "reserves," and not "resources," may be disclosed and discussed). Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves. "Inferred mineral resources" have a great amount of uncertainty as to their existence and economic feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. Investors are cautioned not to assume that all or any part of an inferred mineral resource exists or is economically minable.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this press release.

THIS NEWS RELEASE DOES NOT CONSTITUTE AN OFFER OF ANY SECURITIES FOR SALE.

Golden Minerals
Chairman, President and CEO
Jerry W. Danni, Executive Vice President

Tel: +1 (303) 839 5060
Website: www.goldenminerals.com
ECU
Chairman and CEO
Stephen Altmann

Director and President
Tel: +1 (416) 366-2428
Website: www.ecu.ca

Investment Industry Regulatory Organization of Canada - Trading Halt - ECU Silver Mining Inc. - ECU
Jun. 24, 2011 (Canada NewsWire Group) --
TORONTO, June 24, 2011 /CNW/ - The following issues have been halted by Investment Industry Regulatory Organization of Canada (IIROC):

Issuer Name: ECU Silver Mining Inc.
TSX Ticker Symbol: ECU
Time of Halt: 9:25 am ET
Reason for Halt: Pending News
IIROC Inquiries (416) 646-7299 - *Please note that IIROC is not able to provide any additional information regarding a specific trading halt. Information is limited to general enquiries only.



Source: Canada Newswire (June 24, 2011 - 9:39 AM EDT)

News by QuoteMedia

ECU Silver Discovers New High Grade Zone on Nazas Property in Durango, Mexico

Monday June 20, 2011, 9:58 am EDT

TORONTO, ONTARIO--(Marketwire - June 20, 2011) - ECU Silver Mining Inc. (TSX:ECU; OTC:ECUXF - News) is pleased to report the results from developing a new vein on the Nazas property which included assays grading up to 6.18 grams per tonne (g/t) gold (Au) and 2,755 g/t silver (Ag).

The Nazas property is under option to ECU Silver with the possibility of ECU Silver acquiring a 100% interest for payments totalling US$1,100,000 over the next two years.

While conducting bulk testing for mineralized material amenable to open pit mining, a two meter wide vein was uncovered and bulk tested separately. The structure associated with this vein has been followed along strike for over 500 meters. In the first bench, a height of nine meters of the bench was tested over 30 lateral meters with the average bulk grade of the two meter vein being 0.35 g/t Au and 68 g/t Ag over 19 samples, with the best assays being 0.84 g/t Au and 598 g/t Ag. In the second bench, three meters has been done to date, also over 30 lateral meters and assays averaged 0.72 g/t Au and 241 g/t Ag from 33 samples, with the best assay being 6.18 g/t Au and 2,755 g/t Ag.

Considering these preliminary results, the Company intends to continue opening the vein at depth and laterally as well as test other similar structures on the property.

Progress on drilling the deep seated massive sulphides has not progressed as quickly as originally planned due to mechanical problems with the drilling. These problems have been addressed and drilling has resumed.

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. Michel Roy, PGeo, a qualified person within the meaning of NI 43-101, prepared the technical information disclosed in this news release.

About ECU Silver

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 Company holds a N.I. 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. The Company 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 Velardena.
Website: http://http://www.ecu.ca/

Contact:

Michel Roy
ECU Silver Mining Inc.
Chairman and CEO
Torreon, Mexico
011 52 871 747 5750

Stephen Altmann
ECU Silver Mining Inc.
President
Toronto, Canada
(416) 366-2428

Mark Butler
ECU Silver Mining Inc.
Investor Relations
Toronto, Canada
(905) 602-4248

http://finance.yahoo.com/news/ECU-Silver-Discover-New-High-ccn-2466021472.html?x=0&.v=1

On FIRE.

ECU Silver Releases First Quarter Results for 2011

Wednesday June 15, 2011, 11:34 am

TORONTO, ONTARIO--(Marketwire - June 15, 2011) - ECU Silver Mining Inc. (TSX:ECU; OTC:ECUXF - News) reports that it has recently released its consolidated financial statements for the first quarter ended March 31, 2011 (Q1 2011) and the related management's discussion and analysis of financial position and results of operations (MD&A). The Company increased revenues by 88% and cash flows from mining operations by 149% over the same period ending March 31, 2010 (Q1 2010). The Q1 2011 financial statements were prepared in accordance with International Financial Reporting Standards (IFRS).

The Company generated net revenues from the sale of dore bars and concentrates for a total of $5,966,092, representing a 6.9% decrease over Q4 2010. The decrease in revenue is a result primarily of lower gold grades. Overall grades are expected to increase as mining moves into new development stopes which have not been impacted by historical mining of high grade material.

The revenues were applied against cash development costs of $4,383,608 bringing the net positive cash flow to $1,612,484 for Q1 2011. The cash development costs were 14.3% higher than Q1 2010 due to increased labour and materials in the mine and at the mills.

Cash balance as at March 31, 2011 was $1,219,934, an increase of 254% over the cash balance as at December 31, 2010.

In Q1 2011 the operations generated silver (Ag) totaling 85,600 ounces and gold (Au) totaling 1,893 ounces. In addition, the mines generated 161,977 pounds of lead (Pb) and 172,736 pounds of zinc (Zn). Expressed in terms of silver equivalent (AgEq) ounces, and based on average commodity prices over the period, total metal output was approximately 180,000 AgEq ounces.

Shipments for Q1 2011 consisted of: 80,118 Ag ounces, 2,553 Au ounces, 108,215 Pb pounds, and 164,965 Zn pounds. Expressed in terms of silver equivalent ounces, and based on average commodity prices over the period, the Company shipped approximately 201,000 AgEq ounces during this period.

During Q1 2011, the Company reported a loss of $2,081,960, or $0.007 per share, versus $1,915,436, or $0.006 per share, over the same period in Q1 2010.

Copies of the financial statements and related MD&A can be found on SEDAR at www.SEDAR.com.

About ECU Silver

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 Company 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. The Company 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 Velardena.

Website: http://http://www.ecu.ca/

Contact:

Michel Roy
ECU Silver Mining Inc.
Chairman and CEO
Torreon, Mexico
011 52 871 747 5750

Stephen Altmann
ECU Silver Mining Inc.
President
Toronto, Canada
(416) 366-2428

Mark Butler
ECU Silver Mining Inc.
Investor Relations
Toronto, Canada
(905) 602-4248

http://finance.yahoo.com/news/ECU-Silver-Releases-First-ccn-3635869501.html?x=0&.v=1

ECU Silver added to the GDXJ index

Hattip to GWR1 at the Agoracom ECU Silver board

It looks like ECU has been added to the Market Vectors GDXJ index effective this Friday, June 17, 2011. This may acccount for the increased share volume activity. I have reviewed the Excel file and see that ECU will be given a weighting of .55%. This is a definite positive for the company.

Market Vectors® Junior Gold Miners Index (MVGDXJ)

The quarterly review produced 23 additions (18 Canadian stocks) and 4 deletions (all Canadian) from the index. The changes of the index components will be implemented after the close of trading on Friday, June 17th, 2011 and will be effective the next trading day.


Additions Estimated Demand / Supply

FVI CT Equity FORTUNA SILVER MINES INC 4,260,779

BCM CV Equity BEAR CREEK MINING CORP 2,612,782

MAG CT Equity MAG SILVER CORP 1,532,146

OK CV Equity ORKO SILVER CORP 4,391,395

GPR CT Equity GREAT PANTHER SILVER LTD 4,467,599

ECU CT Equity ECU SILVER MINING INC 10,657,909

AUMN UA Equity GOLDEN MINERALS CO 407,051

AVR CT Equity AVION GOLD CORP 13,222,891

TXG CT Equity TOREX GOLD RESOURCES INC 11,968,748

TRR CV Equity TRELAWNEY MINING AND EXPLORATION 3,874,626

AR CT Equity ARGONAUT GOLD INC 2,960,120

ATC CV Equity ATAC RESOURCES LTD 2,528,876

SUE CT Equity SULLIDEN GOLD CORP LTD 6,732,300

ORE CT Equity OREZONE GOLD CORP 2,527,123

PZG UA Equity PARAMOUNT GOLD AND SILVER 3,146,107

EDV CT Equity ENDEAVOUR MINING CORP 4,002,054

BRD CT Equity BRIGUS GOLD CORP 5,815,474

P CT Equity PRIMERO MINING CORP 1,937,853


Deletions

ANV US Equity ALLIED NEVADA GOLD CORP 2,849,000

DGC CN Equity DETOUR GOLD CORP 2,226,000

ASR CN Equity ALACER GOLD CORP 9,581,950

EGU CN Equity EUROPEAN GOLDFIELDS LTD 4,778,200


http://agoracom.com/ir/ECU/forums/discussion/topics/488067-ecu-added-to-gdxj-index/messages/1563248#message

Testing the 6 month trend line and the 200dma on big volume....

As I have stated/asked on my other boards - I could be really wrong... but, the bottom is in... a summer of opportunity?!?!?!

Thanks... lol

<<<Any idea why the gap open?>>>


Unfortunately, nothing that I could take to the bank, but fwiw, I suspect it is someone getting a headstart on what I therefore interpret as some very good assay results on ECU's deep massive sulphide drilling program...

I wouldn't be surprised to see a PR to that affect sooner rather than later (he says hopingly!).

As far as I know, that's about all that could warrant such a bump in this junior market climate.

All imho, of course...


In edit: I see they've done over a half million shares on the Canadian side in the first eight minutes.... Average vol is about 765K per day... Hmmmmmm!

Any idea why the gap open?

ECU Silver Enters High Grade Workings of Terneras Mine

Tuesday June 7, 2011, 10:34 am

TORONTO, ONTARIO--(Marketwire - June 7, 2011) - ECU Silver Mining Inc. (TSX:ECU; OTC:ECUXF - News) is pleased to report that the Company has sampled up to 14.03 grams per tonne (g/t) gold (Au), 155 g/t silver (Ag), 1.21% lead (Pb) and 4.26% zinc (Zn) over 1.50 meters (5 feet) in the Terneras Mine. Historical workings in Terneras have demonstrated significant continuity reaching up to 1200 meters (3,940 feet).

The underground development ramp at the San Juanes mine reached old workings of the Terneras mine giving the Company access to developed levels which can be mined in the short term. The level that was reached was sampled on both side of a major fault that cuts the main Terneras vein.

On the west side of the fault, in the main body of the old mine known to extend for 1,200 meters, the vein is generally thicker with consistent high assays. The drift in this area was sampled for a length of 48 meters (157 feet) and yielded 3.25 g/t Au, 311 g/t Ag, 1.78% Pb and 2.05% Zn over a width of 0.65 meters (2 feet). The best section sampled was 14.03 g/t Au, 155 g/t Ag, 1.21% Pb and 4.26% Zn over 1.50 meters (5 feet). On the east side of the fault, the vein is thinner and assays are irregular. The average over 48 meters (157 feet) of drift is 2.82 g/t Au, 263 g/t Ag, 1.48% Pb and 1.75% Zn over 0.21 meters (0.7 feet).

A significant portion of the Terneras vein could be opened rapidly by rehabilitating the existing infrastructure. The portion of the Terneras vein developed by previous owners and mined until 1920, contained approximately 4,000,000 tonnes (over 60,000,000 ounces of silver) of mineralized material.

In an update of the deep drilling to test the deep seated massive sulphides, the new cut steepened the drill hole which would have caused the drill to cut the extension of the zone more than 150 meters deeper than the original cut. Since the objective of the initial holes is to confirm vertical and horizontal continuity close to the vein, this was deemed too deep for an initial cut. Consequently, it was decided to use the navi-drill to flatten the hole and cut the zone at a higher elevation, but still significantly deeper than the initial intercept. The drilling is currently at a depth of 870 meters (2,850 feet), 55 meters (180 feet) below the original intercepts in hole SJ-18-21 and is now being deviated into the massive sulphide zone.

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. Michel Roy, PGeo, a qualified person within the meaning of NI 43-101, prepared the technical information disclosed in this news release.

About ECU Silver

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 Company holds a N.I. 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. The Company 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 Velardena.

Website: http://http://www.ecu.ca/

Contact:

Michel Roy
ECU Silver Mining Inc.
Chairman and CEO
Torreon, Mexico
011 52 871 747 5750

Stephen Altmann
ECU Silver Mining Inc.
President
Toronto, Canada
(416) 366-2428

Mark Butler
ECU Silver Mining Inc.
Investor Relations
Toronto, Canada
(905) 602-4248

http://finance.yahoo.com/news/ECU-Silver-Enters-High-Grade-ccn-3788404993.html?x=0&.v=1

Comex Silver Deliverable Inventory Continues to Decline to a New Low 31 Million Ounces

Posted by Jesse
at 11:34 AM 30 May 2011

The long steady decline in Comex Silver inventory available for delivery continues to reach new lows, now at just over 31 million ounces.

The current front month for silver futures is now July, with an open interest of about 60,000 contracts of 5,000 ounces representing 300 million ounces in terms of open interest. The available silver is an increasingly low percentage of the futures shares traded in the front month.

This is further complicated by the volatility. On Thursday of last week 83,000 contracts changed hands.



http://jessescrossroadscafe.blogspot.com/2011/05/comex-silver-deliverable-inventory.html

ECU Silver Mining is Among the Companies in the Precious Metals & Minerals Industry With the Smallest Short Interest (ECUXF, SVM, XPL, AG, SLW)

http://www.mysmartrend.com/news-briefs/news-watch/ecu-silver-mining-among-companies-precious-metals-minerals-industry-smallest-

Written on Sun, 05/29/2011 - 11:41am By Amanda Smith
Below are the top five companies in the Precious Metals & Minerals industry ranked by the lowest short interest ratio. A low short interest ratio may indicate that there are only a few people who are bearish on the stock.

ECU Silver Mining (NASDAQ:ECUXF) has a short interest ratio of 0 based on average daily volume of 307,000 shares and 7,000 shares short. That equates to 0% of the 310.7 million shares outstanding.

John Embry - Silver Market Extraordinarily Tight, Look for $125

May 24, 2011

With gold and silver on the rebound, today King World News interviewed John Embry, Chief Investment Strategist of the now $9 billion strong Sprott Asset Management. When asked about gold breaking out in Euros and the Pound Embry stated, “I think it’s very significant. I mean the fact that they held it (gold) in Euros there for weeks, but now I think the problems in Europe, in the periphery are becoming so apparent and the anger is starting to really rise to the surface, they are basically spurring buying in these countries.”

Embry continues:

“People are feeling more comfortable protecting themselves with things like gold. I think it is significant that it (gold) has broken out here in Euros and in the English Pound and I think it will break out to new highs against the US dollar before this move is over.”

When asked about the action in silver specifically Embry remarked, “Let’s face it, silver needed a correction because it had gone up in almost a straight line and people were talking about parabolas and what have you. But the correction was amplified by the CFTC allowing or sponsoring five margin hikes in eight days. Every time the price was getting pounded they put in another margin hike, so anybody that was long and didn’t have extraordinarily deep pockets had to puke the position.

But I think the most interesting comment someone said was, ‘You know in the long-term move in silver this will look like the blip in the ’87 stock market crash.’ Then, as you know, they killed it (stocks) in ’87 and the stock market proceeded to go up 5 or 6 fold. I think silver will do exactly the same thing. It’s irritating if you’re long on margin because you are going to get kicked out of the position, but if you know the game, it was just another opportunity to get some cheap silver.”

When asked if there was still tightness in the silver market Embry replied, “As far as what we look at, my partner Eric Sprott, he thinks the market is extraordinarily tight. I think one thing people are underestimating is the investment demand. This is being triggered by the high gold price which is driving the little guy into silver for the simple reason that he can’t handle how much it costs to get an exposure in gold, so he buys silver.

So I think this will be an ongoing phenomena and when you put that together with the strong industrial demand, the two together will drive silver much higher. I think the optimists that are talking about the gold/silver ratio declining to historical lows of 10 to 15 times could well be right, and given where I think gold is going, I mean that has an enormous upside potential for silver.

...Well let’s say gold goes to $2,500 which I don’t think is an outrageous statement in the face of what is going on, and the gold silver ratio falls to 20 to 1, well that puts silver at $125...People that were top-calling in silver and gloating when it got taken to the cleaners, I don’t really think they really understand the dynamics of the market.”

When asked if he thought James Turk was correct in his KWN interview where he discussed this summer possibly being a repeat of 29 years ago when gold had a massive upside move Embry said, “Absolutely, and the fact that everybody is sort of trying to put a seasonal spin on this that gold is sort of weak...I think they could get blindsided and that James Turk could be very right on that call.”

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/5/24_Embry_-_Silver_Market_Extraordinarily_Tight%2C_Look_for_%24125.html

Richard Russell - Silver Shorts Liable to Get Trampled

May 20, 2011

With gold and silver near the $1,500 and $35 area respectively, the Godfather of newsletter writers Richard Russell had this to say,

“GOLD -- The chart below shows daily gold over the last two years. During that period gold has respected its 150-day moving average, which is the blue line that you see on the chart. Over the last two years gold has tested its 150-day MA six times, and each time gold has held above the 150-day MA -- and then rallied to new highs.”

Silver - Commitment of Traders

Dan Norcini
May 21, 2011

This week's release of the Commitment of Traders report by the CFTC contained some noteworthy developments in regards to the silver market. I discussed this with Eric King so make sure to listen in to the KWN Weekly Metals Wrap where we cover this.

If you want to have a visual to go along with that discussion, I am providing it here in the form of this chart.

First of all, the hedge fund category (Managed Money), has been steadily liquidating their long positions in silver for some time now and that continued this past week. The result is that their overall net long position is now at levels last seen in this category dating back to the late February- March 2010 time frame. At that time, the price of silver was trading between $16.50 and $17.30! Yet here we are with silver sitting closer to $35. In other words, the price of silver has doubled since then while the hedge fund position is at the same level as it was when price was half of what it is today.

What this tells us is that once silver falls back into favor with the speculative crowd, it will launch its next leg higher from a substantially higher price level. Let's assume for the moment that the interest to be on the long side reaches levels commensurate with what we have seen recently. It is easily conceivable that the price could effectively double from the point at which that next leg higher commences. I do not know from what level that will occur or the time frame, but with the large specs having been greatly cleaned out of the silver market, there will be enormous upside potential in this market when conditions are ripe.



The flip side of this and the second point worth noting is that the big commercial net short position is shrinking quite rapidly. As you can see on the chart by following the horizontal line across the chart, their net short position is now the smallest it has been since May 2009, a full two years ago! Silver was trading between $12 - $14 back then.

Also related to this is that the Swap Dealers are now net longs. They have not been on this side of the market since late November of last year.

What I am atttempting to say that this consolidation period for the metal is extremely healthy for the long term. It continues to see more and more speculative long side liquidation but that is being met by a very large amount of short covering from the biggest shorts in the silver market. The result of this has been to lock silver into a range trade which is keeping the metal from breaking down substantially further and producing the curent trading range that we see on the price charts.

We therefore would have to see a sharp pullback in commercial short covering activity for the market to collapse in price. They are steadily buying and their buying is of sufficient size that it is absorbing the hedge fund liquidation-related selling. Quite frankly, as long as the bullion banks keep buying I do not see where we will get the firepower of selling that would be necessary to cause silver to fall apart. One would almost have to see the hedge funds actively take to the short side of the market to generate enough force to press silver down through the kind of buying that the commercials are now providing.

The more the hedge fund long side exposure keeps dropping, the better as far as I am concerned provided that this trading range continues with the market holding above the recent lows in price. The ideal setup for silver would be for it to build a rock, solid base of support at a new and higher price level, let's say somewhere near and around $30 or so, from which it can then make the next leg higher in this now decade long+ bull market.

http://traderdannorcini.blogspot.com/2011/05/silver-commitment-of-traders.html

<<<This one is starting to show show strength. Nice.>>>


Yeah, I kinda figured it as soon as I sold the shares I bot @ .697 ealier today for an 4 cent pwofit....

Hopefully, those massive suphides will assay out at a number that will kick some of the recent shorts in the shorts.

TSX Exchange only

Short History

Symbol Rep't Date Volume Change %ofFloat

ECU - T 2011-05-15 3,954,860 +1,065,958 1.27

ECU - T 2011-04-30 2,888,902 +192,892 0.93

ECU - T 2011-04-15 2,696,010 -251,154 0.87

ECU - T 2011-03-31 2,947,164 -151,932 0.95

ECU - T 2011-03-15 3,099,096 -116,649 1.00

ECU - T 2011-02-28 3,215,745 +017,335 1.04

ECU - T 2011-02-15 3,198,410 -009,820 1.04

ECU - T 2011-01-31 3,208,230 -40,507

ECU - T 2011-01-15 3,248,737 -29,980

This one is starting to show show strength. Nice.

<<<Is this double bottom we see the real bottom???>>>

I don't know, FJ.... I'm more of a leg man, myself. <g>