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TORONTO, ONTARIO � August 17, 2011 -- ECU Silver Mining Inc.
(�ECU�) (TSX:ECU) 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.�*
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.�*
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.
* Permission to quote from the ISS and GL reports was neither
sought nor obtained.
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.
The Toronto Stock Exchange has not reviewed and does not
accept responsibility for the adequacy or accuracy of the content of
this press release.
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