EcuaGold Resources Ltd. ("the Company" or "EcuaGold") (TSX VENTURE:EGR) is
pleased to announce that its wholly owned Colombian subsidiary, ColombiaGold
Resources S.A. ("CGR") has opened an office in Medellin, Colombia, which will be
the headquarters for EcuaGold's activities in Colombia. EcuaGold is also pleased
to announce that CGR has hired two Colombian geologists who will be based in the
Medellin office and will continue to be managed and assisted by the Company's
Quito-based senior exploration group.


Sr. Rafael Rodriquez Alvarez has been employed as Senior Geologist and CGR's
principal contact in Colombia. Sr. Rodriquez has over 25 years experience in the
mining industry, having worked in Cuba, Portugal, Peru, Argentina and, most
recently, in Colombia. He was Director of Exploration in the mid-1990s for
Procoloro Resources Inc., a junior Canadian mining company, which acquired
interests in several mineral properties in the Segovia - Remedios Region
("Region") in the Department of Antioquia ("Antioquia"), Colombia. This Region
has accounted for a significant percentage of Colombia's historic gold
production, and is one of CGR's key targeted areas in Colombia. Sr. Rodriquez
supervised both underground and surface exploration programs in the Region,
including 20,000 metres of core drilling. Sr. Rodriquez is a part-time assistant
professor of geology at the National University of Colombia, Medellin, and has
consulted for a number of foreign mining companies throughout Colombia and in
other Latin American countries. He has a B.Sc. Geology from Havana University
and a M.Sc. Geology from the National University of Colombia, Medellin.


Sr. Daniel Canastho Echavarria, who has been employed as Geologist, has over 19
years of technical and administrative experience in the mining industry,
principally gained in Colombia but also in Ecuador and Venezuela. One of his
recent consulting assignments was working for the Government of Antioquia
supervising the inspection and updating of files on over 100 small mines in
Antioquia. Sr. Canastho has a B.Sc. Geology from the National University of
Colombia, Medellin.


CGR has been very active in Colombia over the past four months, principally in
Antioquia. CGR has signed several confidentiality and exclusivity agreements
with various concession owners, mainly within the Segovia Batholith trend, and
is presently in advanced-stage negotiations to acquire several precious metals
projects in Antioquia, although final agreements have not yet been concluded.


About EcuaGold Resources:

EcuaGold Resources Ltd. is engaged in the acquisition, exploration and potential
development of primarily precious metals properties in Colombia, Peru and
Ecuador. The focus of the Company's exploration activities is presently in
Colombia and Peru. EcuaGold controls, through wholly owned subsidiaries, a 100
percent interest in 13 granted concessions, comprising eight distinct projects,
in Ecuador, covering more than 34,000 hectares. 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 Aurelian Resources' Condor
Project, IAMGOLD's Quimsacocha Project, International Minerals' Rio Blanco and
Gaby Projects and Dynasty Metals & Mining's Copper-Gold Belt, Zaruma and
Jerusalem Projects.


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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