For Immediate Release

September 16, 2008

For Further Information Contact:

Ken Pavlich, President and C.E.O

info@ElCapitanPMi.com or (775) 201-0168

http://www.elcapitanpmi.com/ 

El Capitan Precious Metals, Inc. Provides Status Update of Gold & Minerals Merger  

Reno, Nevada - El Capitan Precious Metals, Inc. (OTC/BB:ECPN) announced that management of both ECPN and Gold and Minerals Company, Inc. (�G&M�) have agreed to restart the merger process which was put on hold ten weeks ago.  At the time, management of both firms had agreed that available funding would be preferentially directed towards key metallurgical investigations.  In light of the recent positive metallurgical news announced earlier this month, along with availability of funding provided by G&M, ECPN has directed its lawyers to resume their efforts to prepare and file appropriate merger documents.

The revised timetable projects filing of a Form S-4 registration statement with the Securities and Exchange Commission (�SEC�) by the end of October.  It could take several months for the SEC to declare the Form S-4 effective, and the closing of the merger should occur within 45 days from the effective date.  Assuming that the previous milestones are achieved, the expected merger closing date would occur in the first quarter of 2009.

Ken Pavlich, President and C.E.O. of ECPN, stated, �While this merger has taken much longer than originally anticipated, the delay has had no negative impact on ECPN shareholders.  However, in view of the continued improvements in key metallurgical information, management is convinced that having a rationalized ownership structure will facilitate anticipated future financing and / or partnership discussions.�

About El Capitan Precious Metals, Inc.El Capitan Precious Metals, Inc. is a U.S. based mineral exploration company whose primary asset is a 40% interest in the El Capitan precious metals project, located in Lincoln County, New Mexico. The Company�s stock trades on the Over-the-Counter Bulletin Board under the symbol ECPN. 

Forward-Looking StatementsStatements herein which are not historical facts, such as estimates of the volume and grade of mineral deposits, future production levels, exploration results and plans, costs, and prices are "forward-looking statements", involving a number of risks and uncertainties that could cause actual results to differ materially from those projected, anticipated, expected or implied. These risks and uncertainties include, but are not limited to, metals price and production volatility, exploration risks and results, discrepancies between different types of testing methods, some or all of which may not be industry standard, political risks, permitting risks, project development risks and ability to raise financing. To date, we have not established any precious metal reserves, and our ability to do so is dependent on the future success of our efforts to demonstrate the economic viability of all facets of our property.  For a more detailed discussion of risks and other factors that may impact these forward looking statements please refer to the Risk Factors and other discussion contained in the Company's quarterly and annual periodic reports on Forms 10-QSB and 10-KSB on file with the SEC. The Company undertakes no obligation and has no intention of updating forward-looking statements. 

For further information, please visit the company�s website at http://www.elcapitanpmi.com/ .