ECU Silver Mining Inc. Obtains Final Order for Arrangement With Golden Minerals Company

TORONTO, ONTARIO -- (Marketwire) -- 08/31/11 -- ECU Silver Mining Inc. (TSX: ECU) ('ECU') is pleased to announce that the Superior Court of Quebec has issued a final order (the 'Final Order') pursuant to the Business Corporations Act (Quebec) approving its plan of arrangement (the 'Arrangement') with Golden Minerals Company (NYSE Amex: AUMN)(TSX: AUM) ('Golden Minerals'). Receipt of the Final Order follows the special meeting of ECU securityholders held on August 30, 2011, at which ECU's securityholders approved the Arrangement. Subject to the other conditions to the closing of the transaction being satisfied or waived, ECU and Golden Minerals anticipate that the Arrangement will be completed on or about Friday, September 2, 2011.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the United States Securities Act of 1933 and Section 21E of the United States Securities Exchange Act of 1934 and applicable Canadian securities laws, including statements regarding the timing of completion of the Arrangement. ECU has provided these anticipated times in reliance on certain assumptions that it believes are reasonable at this time, including assumptions as to the satisfaction of and time necessary to satisfy the conditions to the closing of the Arrangement. These times may change for a number of reasons, including the need for additional time to satisfy the conditions to the completion of the Arrangement. In addition, the Arrangement is subject to a number of conditions that are typical for transactions of this nature. Failure to satisfy any of these conditions may result in the termination of the definitive agreement to combine Golden Minerals and ECU, and the Arrangement may not be completed.

The forward-looking statements and information contained in this press release are made as of the date hereof and ECU undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless expressly required by applicable securities laws.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this press release.

Contacts:

ECU Silver Mining Inc.

Michel Roy

Chairman and CEO

1 (416) 366-2428


ECU Silver Mining Inc.

Stephen Altmann

Director and President

1 (416) 366-2428
www.ecu.ca