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Ecometals Limited: Sale of Condor Gold Project Update

TORONTO, ONTARIO--(Marketwire - Nov. 30, 2011) - Ecometals Limited (TSX VENTURE:EC)(BERLIN:GDQ)(FRANKFURT:GDQ) (the "Company") announces an update to its press release of November 14th, 2011, in which the Company stated that according to revised payment terms agreed, as summarised in that press release, the next interim payment of US$1,250,000 was to be made by Ecuador Capital Corporation ("ECC") to the Company on or before November 30, 2011.

ECC has advised the Company that there has been a delay in making this payment and has requested that the Company extend the deadline for that payment to December 15th, 2011. The Company and ECC have agreed to such extension on payment of a fee of US$25,000.

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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