EcuaGold Resources (EGR.V)
ecuagoldresources.com
EcuaGold Resources Ltd. (the "Company" or "EcuaGold") is engaged in the acquisition, exploration and, if warranted, development of primarily precious metals properties in Ecuador. The Company presently has an interest in 11 concessions and an option to acquire a 12th concession, comprising 8 distinct exploration projects and covering a total of 31,198.94 hectares (approximately 77,061 acres), situated primarily in southern Ecuador. EcuaGold has applications pending with the Ministry of Energy and Mines in Ecuador for the acquisition of an additional 17 concessions, associated with 2 existing projects and 1 new project, amounting to approximately 50,774 hectares (approximately 125,412 acres). In total, the concessions granted to, or applied for by, the Company amount to 81,972.84 hectares (approximately 202,473 acres).
In connection with its TSX Venture Exchange listing, EcuaGold obtained NI 43-101 Reports for the Company's two principal exploration properties in Ecuador, the Molleturo and the Curiplaya Projects. Based on these reports, both projects were classified as Tier I qualifying properties for purposes of the listing. The Molleturo Project contains high-grade polymetallic mineralization (Ag, Pb, Zn, Au) and has had historical small-scale mining activity. The Curiplaya Project is a Gold-Copper porphyry located in the Dynasty Copper-Gold Belt and has had significant historical exploration activity, including over 5,000 metres of drilling.
EcuaGold's 2007 exploration budget includes an allocation of US$1.35 million on the Molleturo Project (3,000 metres of planned drilling) and US$ 1.22 million on the Curiplaya Project (2,500 metres of planned drilling), pursuant to the respective NI 43-101 Reports on the projects.
PROJECTS MAP
The majority of EcuaGold's concessions are located in southern Ecuador, a highly prospective region that is currently host to a number of projects. These include, among others, Aurelian Resources' Condor Project, IAMGOLD's Quimsacocha Project, International Minerals' Rio Blanco and Gaby Projects and Dynasty Metals & Mining's Copper-Gold Belt, Jerusalem and Zamora Projects.
EcuaGold's principal properties are the Molleturo Project, a high-grade polymetallic vein system, and the Curiplaya Project, a gold-copper porphyry system. NI 43-101 Reports were recently prepared for each project in connection with EcuaGold's TSX Venture Exchange listing on January 12, 2007.
SHARE STRUCTURE
as of March 1, 2007
ISSUED AND OUTSTANDING SHARES 32,050,340
Stock Options
(Exercise price - $0.50) 3,100,000
Pre IPO Agent Options
(Exercise price - $0.25, expires June 12, 2008) 475,000
IPO Agent Options
(Exercise price - $0.50, expires June 12, 2008) 1,725,000
IPO Warrants (a)
(Exercise price - $0.75, expires July 12, 2008) 13,800,000
IPO Agent Warrants (a)
(Exercise price- $0.75, expires July 12, 2008) 1,725,000
FULLY DILUTED SHARES 52,875,340
(a) The Company may accelerate the expiry date of the Warrants if, after May 12, 2007, the closing price of the common shares equals or exceeds $1.25 per share for 20 consecutive trading days, in which event the Company may give notice to the Warrant holders that the expiry date of the Warrants has been shortened to the date that is 30 days after the date of such notice.
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