Ecuador Gold Announces Interim Order and Annual General and Special Meeting

VANCOUVER, September 15, 2016 - Ecuador Gold and Copper Corp. (TSXV: EGX) (the "Company"), announces that on application by the Company, the Supreme Court of British Columbia has made an interim order that provides for, among other things, the calling and holding of the annual general and special meeting (the "Meeting") of the Company's shareholders and holders of stock options that carry the right to purchase common shares of the Company pursuant to the Company's stock option plan. The Meeting will be held on Friday, October 14, 2016 at Suite 700, 595 Burrard Street, Vancouver, British Columbia at 10:00 a.m. (Vancouver time).

At the Meeting, the Company's shareholders and stock option holders will be asked to, among other things, consider and to pass a special resolution approving the acquisition by Odin Mining & Exploration Ltd. ("Odin") of all of the Company's outstanding common shares and stock options, by way of a statutory plan of arrangement (the "Arrangement") under the British Columbia Business Corporations Act. In accordance with the amended and restated arrangement agreement dated September 9, 2016 and the plan of arrangement, at the effective time of the Arrangement, the Company's shareholders will receive common shares of Odin and the Company's stock option holders will receive stock options of Odin, all as more fully described in the joint news releases of the Company and Odin dated August 3, 2016, August 4, 2016 and September 12, 2016. Information about the Arrangement, related transactions, and Odin will be described in the Company's notice of the Meeting and management proxy circular (the "Circular") dated September 14, 2016. The Company expects to mail the proxy materials for the Meeting to the Company's shareholders, stock option holders and holders of outstanding common share purchase warrants on or about Wednesday, September 21, 2016. The record date for voting by the shareholders and option holders is September 6, 2016.

The Arrangement special resolution must be approved by (i) at least 66 ⅔% of the votes cast by the Company's shareholders; and (ii) at least 66 ⅔% of the votes cast by shareholders and option holders voting together as a single class either in person or by proxy at the Meeting.

The Company's board of directors has unanimously determined that the terms of the Arrangement are fair and reasonable to the Company, its shareholders, option holders and holders of warrants, and unanimously recommends that the shareholders and option holders vote in favour of the Arrangement by special resolution at the upcoming Meeting. The Company's board of directors obtained a fairness opinion prepared by M Partners Inc., which will be attached to the Circular as a schedule. The board also considered a number of other factors in making its determination, which are more fully described in the Circular.

For more information about the Arrangement, please see the Company's Circular, the Fairness Opinion attached to the Circular, and other proxy materials, which will be available for review on SEDAR on or about September 21, 2016.


About Ecuador Gold and Copper Corp.

Ecuador Gold and Copper Corp. is a Canadian exploration and mining company focused on its gold and copper mineral properties located in the Province of Zamora-Chinchipe in southern Ecuador. The Company has completed a Preliminary Economic Assessment of its Santa Barbara Gold and Copper Project dated May 29, 2015, and is currently listed on the TSX Venture Exchange under the symbol "EGX." For additional information, please visit us at www.ecuadorgoldandcopper.com.



For further information please contact:

Heye Daun
President, Chief Executive Officer and Director
Telephone: +1-604-687 2038 (Vancouver Office)
Email: hdaun@ecuadorgoldandcopper.com



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