Ecometals Suspends Operations in Ecuador
08 May 2008 - 7:15AM
Marketwired
TORONTO, ONTARIO (FRANKFURT: GDQ) (BERLIN: GDQ) today announced
the company has suspended operations in Ecuador in conformity with
the Mining Mandate recently enacted by the Ecuadorian
government.
"We have ceased all exploration activities," said Fran Scola,
Chief Executive Officer of Ecometals. "However, a small core group
of people is still in place, which permits us to quickly resume
work in the future."
The Mining Mandate was adopted by the Constitutional Assembly of
Ecuador on April 18, 2008. The decree suspended mining and
exploration operations for a period of six months as a new mining
law is drafted.
"Ecometals remains committed to long-term mining exploration in
Ecuador and we look forward to continuing operations when the
revised legislative structure is in place," said Mr. Scola.
About Ecometals
Ecometals Limited is a Canadian-listed mineral exploration and
development company focused on mineral resources in Latin America.
Ecometals also holds 44.4% of Atomaer Holdings Pty Ltd., a private
Australian holding company.
Cautionary Statement Regarding Forward-Looking Statements
Statements contained in this release that do not express
historical facts are forward-looking statements. Such
forward-looking statements involve risk and uncertainties that
could cause actual results to differ materially from those
expressed in them. These include risks relating to changes in
economic or environmental conditions and the company's ability to
execute its business model and strategic plans. The company relies
on litigation protection for forward-looking statements.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Contacts: Ecometals Limited - Investors Mark Kesselman Chief
Financial Officer Email: info@ecometalslimited.com Website:
www.ecometalslimited.com Senior Consultant - Media Colin Languedoc
Barnes McInerney Inc. (416) 367-5000 (416) 367-5390 (FAX) Email:
clanguedoc@barnesmcinerney.com
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