Ecometals Announces Closing of Private Placement Financing

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICE OR FOR DISSEMINATION IN THE UNITED
STATES


Ecometals Limited (TSX VENTURE:EC)(FRANKFURT:GDQ)(BERLIN:GDQ) (the "Company") is
pleased to announce that it closed a private placement (the "Offering") of
4,216,900 units of securities of the Company (each a "Unit") at a price of $0.05
per Unit (the "Issue Price") for gross proceeds of $210,845. Each Unit comprises
one common share of the Company ("Common Share") and one Common Share purchase
warrant (a "Warrant"), with each Warrant entitling the holder thereof to acquire
one Common Share at a price of $0.10 per share at any time until November 20,
2014. 


The gross proceeds from the sale of the Units are to be used for working capital
purposes. 


In connection with the Offering, the Company agreed to pay a finder's fee to
persons permitted by applicable securities laws to act as finders (each a
"Finder"), equal to, in the aggregate, 8% of the gross proceeds raised from
subscribers introduced to the Company by such Finders payable either in (i)
cash, (ii) Units issued at the Issue Price or (iii) a combination of thereof, in
each case at the option of the Company. As such, the Company paid a cash fee of
$15,200 to a Finder.


All securities issued yesterday are subject to a four (4) month hold period
expiring on March 21, 2013.


In view of the disruption to the placing process caused by the recent storm in
the United States, the Company is today intending to open a new private
placement to raise up to $500,000 on the same terms in respect of both Units and
Warrants as the placement which closed yesterday, subject to approval by the
TSXV.


This news release shall not constitute an offer to sell or the solicitation of
an offer to buy any securities, nor shall there be any sale of securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any such
jurisdiction. 


About Ecometals

Ecometals Limited is a Canadian TSX Venture Exchange listed mineral exploration
and development company focused on the 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 exploration and development
planning stages.


Forward-Looking Information:

This press release contains certain "forward-looking information". All
statements, other than statements of historical fact, that address activities,
events or developments that the Company believes, expects or anticipates will or
may occur in the future (including, without limitation, statements relating to
the proposed placement) constitute forward-looking information. This
forward-looking information reflects the current expectations or beliefs of the
Company based on information currently available to the Company as well as
certain assumptions including, without limitation, assumptions as to the ability
of the Company to raise funds in general. Forward-looking information is subject
to a number of significant risks and uncertainties and other factors that may
cause the actual results of the Company to differ materially from those
discussed in the forward-looking information, and even if such actual results
are realized or substantially realized, there can be no assurance that they will
have the expected consequences to, or effects on the Company. Factors that could
cause actual results or events to differ materially from current expectations
include, but are not limited to, detrimental market conditions for equity
securities and a lack of investor interest. 


Any forward-looking information speaks only as of the date on which it is made
and, except as may be required by applicable securities laws, the Company
disclaims any intent or obligation to update any forward-looking information,
whether as a result of new information, future events or results or otherwise.
Although the Company believes that the assumptions inherent in the
forward-looking information are reasonable, forward-looking information is not a
guarantee of future performance and accordingly undue reliance should not be put
on such information due to the inherent uncertainty therein.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Ecometals Limited
William Lamarque
Chief Executive Officer
[e-mail]


Ecometals Limited
Andrew Robertson
Chief Financial Officer
+ 44 207 340 8521
[e-mail]


Ecometals Limited
[e-mail]
www.ecometalslimited.com