EGR EGR Exploration Ltd

EcuaGold Resources Ltd. ("the Company" or "EcuaGold") (TSX VENTURE:EGR) is
pleased to announce that the Company has adopted a revised exploration strategy
to expand its exploration activities outside Ecuador. Since February 2008,
EcuaGold's geologists have made several trips to both Colombia and Peru,
visiting several projects of potential interest and making valuable contacts.
These visits have provided the Company with valuable first-hand knowledge of
geological areas of interest that best fit EcuaGold's future growth strategy.
Senior management has also met with government mining officials in both
countries to introduce the Company and its plans for future growth. EcuaGold was
well received by these officials who promoted a very positive attitude towards
foreign mining investment in their countries. Major law firms engaged by
EcuaGold in Bogota and Lima are in the process of incorporating a wholly owned
subsidiary of EcuaGold in each country. The subsidiaries are expected to become
legally operational in May 2008. As of March 31, 2008, EcuaGold's fiscal
year-end, there was approximately $2.5 million in the treasury, an amount
adequate to finance the Company's diversification plans for the remainder of
2008.


EcuaGold is also pleased to announce that it has entered into a geological
consulting agreement with Dr. Richard A. Jemielita, an independent consulting
geologist with over 25 years of international mining experience. While providing
overall consulting services to the Company, Dr. Jemielita will initially focus
on Peru, where he has over 16 years of experience in consulting for major mining
companies, including Newmont, Barrick and Rio Tinto. Dr. Jemielita has a BSc
Honours Geology and a PhD Geology from the University of Aberdeen, Scotland, UK.
He is also a Qualified Person in compliance with National Instrument 43-101.


On April 18, 2008, Ecuador's Constitutional Assembly approved a new mining
mandate which, among other things, invokes a 180-day suspension of activities on
virtually all mining concessions; limits to three the number of concessions that
a mining company may hold; and revokes all mining concession applications in
process. EcuaGold has made a preliminary review of the mandate, but must seek
further clarification from government officials regarding several unclear
articles in the mandate before it can fully assess the impact it will have on
the Company's concession holdings and operations in Ecuador. If limited to three
concessions, EcuaGold will, at minimal cost, protect its three core properties
with approved Environmental Impact Studies - the Curiplaya, Molleturo and San
Bartolome Projects.


About EcuaGold Resources:

EcuaGold Resources Ltd. is engaged in the acquisition, exploration and potential
development of primarily precious metals properties. To date, EcuaGold's
exploration activities have been focused solely in Ecuador, where the Company'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 prepared for each project in connection with EcuaGold's TSX Venture
Exchange listing. A third core property is the San Bartolome Project, a
high-grade polymetallic vein system (Ag, Pb, Zn) and Ecuador's largest historic
silver producer. In addition to maintaining its interests in its core Ecuadorian
projects, EcuaGold is expanding its exploration activities into Colombia and
Peru.


On Behalf of the Board of Directors of ECUAGOLD RESOURCES LTD.

Anthony F. Ciali, President, CEO and Director

The statements contained in this news release that are not purely historical are
forward-looking statements. Forward-looking statements may relate to the success
of any of the company's strategic initiatives, the company's expectations,
beliefs, growth and future prospects, and the company's position in the market
and future opportunities therein. Forward-looking statements may also include,
without limitation, any express or implied statement relating to future events,
industry performance, general business and economic conditions or circumstances,
regulatory and legal requirements, and other matters, many of which are beyond
the control of the company. Forward-looking statements involve risks and
uncertainties, which could cause actual results to differ materially from those
projected. All forward-looking statements included in this news release are
based upon information available to the company as of the date hereof and the
company does not undertake any obligations to update forward-looking statements
should circumstances or management's beliefs or opinions change.

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