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Ecometals Limited: Condor Gold Project Receipt

TORONTO, ONTARIO--(Marketwire - May 31, 2011) - Ecometals Limited (TSX VENTURE:EC)(BERLIN:GDQ)(FRANKFURT:GDQ) -

Further to its press release of December 31st, 2010, Ecometals Limited (the "Company") is pleased to announce the receipt from Ecuador Capital Corporation of the second payment tranche of $2,500,000 with respect to the sale of its Condor Gold project. The final payment tranche of $2,500,000 is due on or before November 30, 2011.

About Ecometals

Ecometals Limited is a Canadian TSX Venture Exchange listed mineral exploration and development company focused on mineral resources in Latin America. Apart from its gold exploration in Ecuador, Ecometals also has significant manganese, iron and gold projects in Brazil at grass roots and development planning stages.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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