ECU Silver Discovers Another New Vein on Velardena Property

Anonymous Accumulation on ECU

House Positions for C:ECU from 20101220 to 20101220

House	Bought	$Val	Ave	Sold	$Val	Ave	Net	$Net
1 Anonymous	335,800	420,135	1.251	86,500	107,568	1.244	249,300	-312,567
7 TD Sec	170,970	213,398	1.248	89,710	113,204	1.262	81,260	-100,194
99 Jitney	113,800	145,511	1.279	49,100	61,331	1.249	64,700	-84,180
85 Scotia	47,800	59,497	1.245	11,400	14,196	1.245	36,400	-45,301
80 National Bank	20,000	24,950	1.248	7,800	9,672	1.24	12,200	-15,278
19 Desjardins	13,634	16,973	1.245	2,713	3,408	1.256	10,921	-13,565
33 Canaccord	24,000	29,800	1.242	15,000	18,600	1.24	9,000	-11,200
48 Laurentian	5,000	6,200	1.24	0			5,000	-6,200
124 Questrade	4,000	4,990	1.248	200	256	1.28	3,800	-4,734
14 ITG	3,200	4,000	1.25	50	63	1.26	3,150	-3,937
79 CIBC	179,410	225,795	1.259	178,800	222,238	1.243	610	-3,557
52 NCP	20,000	24,600	1.23	20,000	24,800	1.24	0	200
101 Newedge	1,200	1,524	1.27	6,900	8,631	1.251	-5,700	7,107
15 UBS	1,500	1,860	1.24	14,400	18,007	1.25	-12,900	16,147
46 Macquarie	1,000	1,250	1.25	17,000	20,910	1.23	-16,000	19,660
5 Penson	0			50,000	61,500	1.23	-50,000	61,500
62 Haywood	0			53,900	68,992	1.28	-53,900	68,992
13 Instinet	0			63,500	80,730	1.271	-63,500	80,730
2 RBC	179,633	227,834	1.268	248,374	314,665	1.267	-68,741	86,831
9 BMO Nesbitt	9,800	12,084	1.233	215,400	271,630	1.261	-205,600	259,546
TOTAL	1,130,747	1,420,401	1.256	1,130,747	1,420,401	1.256	0	0

ECU Silver Discovers Another New Vein on Velardena Property

10:58 EST Monday, December 20, 2010

TORONTO, ONTARIO--(Marketwire - Dec. 20, 2010) - ECU Silver Mining Inc. (TSX:ECU) is pleased to announce that it has discovered another new vein, the G1-lower vein, in the upper levels of the Santa Juana mine located in the main Velardeña Property. Assays included a section that graded 11.39 grams per tonne (g/t) gold (Au), 861 g/t silver (Ag), 3.64% lead (Pb) and 3.50% zinc (Zn) over 0.80 meters (2.6 feet).

Michel Roy, CEO and Chairman of ECU stated, "The most interesting aspect of this new discovery is that it confirms the potential for the North-West extensions of the known veins as well as opens the possibility of discovering additional veins in that area. The discovery also adds over 100 meters (328 feet) to the known extension of the Santa Juana veins system, which was calculated at 500 meters (1,640 feet) beforehand."

The G1-lower vein was recently opened on level 17, over a strike length of 123 meters (404 feet) grading 5.73 g/t Au, 130 g/t Ag, 1.94% Pb and 1.37% Zn over an average width of 0.45 meters (1.5 feet), including a section that graded 11.39 g/t Au, 861 g/t Ag, 3.64% Pb and 3.50% Zn over 0.80 meters (2.6 feet). The G1-lower vein was discovered while the Company was investigating the North-West extensions of a system of parallel veins, the CC, C0, C1, G1 and B's veins. The G1-lower vein is parallel to the other veins and is between the CC and G1 veins. It is an entirely new vein, not included in the Company's N.I. 43-101 mineral resource report.

Stephen Altmann, President of ECU added, "The underground development on the adjacent Velardeña and Chicago properties continues to pleasantly surprise us. At Velardeña, we continue to see evidence of richer and thicker veins as well as new extensions of known vein systems. At Chicago, the newly discovered veins support the potential for a system of veins comparable to the extensive veining on the Velardeña Property."

Additional Information

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 Torreón, Coahuila, Mexico. 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 Velardeña District Properties in Durango, Mexico. The Company holds a NI 43-101 compliant mineral resource of 40 million silver equivalent (0.6 million gold equivalent) ounces in the measured and indicated category and 391 million silver equivalent (6.0 million gold 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 Velardeña.