Ecometals Limited Announces Disposal of Non-Core Iron Exploration Assets in Brazil and Extension of Advisor Mandate With Bala...

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Ecometals Limited (the "Company") (TSX VENTURE:EC)(BERLIN:GDQ)(FRANKFURT:GDQ) is
pleased to announce that its wholly owned Bermudan subsidiary, Noble Mining Ltd.
("Noble") has entered into an agreement with a group of investors for the sale
of Noble's entire holding of shares in its wholly owned Bermudan subsidiary
Ironman Ltd ("Ironman"). Ironman is the 99% shareholder of Ecometals Ferro do
Amapa Ltda ("EFAL"), a Brazilian company which holds iron exploration rights in
Amapa, Brazil (the "Amapa Iron Project"). 


The purchase price for the sale by Noble is made up of (i) the assumption of
approximately US$130,000 of debt currently existing at Ironman and EFAL; (ii)
US$200,000 paid in cash at closing; (iii) a further US$200,000 in cash paid
before December 31, 2013 provided the purchasers decide to continue with the
Amapa Iron Project beyond July 31, 2013 and; (iv) once the Amapa Iron Project
commences production, an amount in cash every 3 (three) months calculated on the
basis of US$2 (Two United States Dollars) per metric ton of contained iron (the
"Additional Payment") subject to the Additional Payment being limited to a
maximum amount of US$1,000,000 (One Million United States Dollars). 


In addition to the above sale, and further to the Company's announcement on
January 10, 2013 regarding the Company's agreement with BalanTrove Management
LLC ("BalanTrove"), whereby BalanTrove had agreed to assist the Company in
evaluating, structuring and negotiating a potential acquisition of a producing
gold mine in South America (the "Transaction"), the Company has agreed to extend
this agreement for a further three month period with a monthly work fee payable
in in the form of common shares of the Company (the "Shares") to BalanTrove. The
work fee comprises of the issuance of an aggregate number of Shares having a
total value of C$20,000 per month with the number of Shares to be issued based
on the volume weighted average trading price of the shares for the thirty-day
period immediately before the applicable date of issuance of the Shares but
subject to a minimum issue price of C$0.05 per Share. 


The issuance of the securities under the above agreement is subject to the
approval of the TSX Venture Exchange. All securities issued pursuant to the
above agreement will be subject to a four-month statutory hold period beginning
on the applicable date of issuance of the securities.


The CEO of the Company, Mr. William Lamarque commented: "As with the vast
majority of junior exploration companies these past few months have been
difficult for the Company so we are very pleased to be able to report the sale
of our iron assets in Brazil as well as good progress in our continued
discussions with interested parties for the disposal of our manganese assets in
northern Brazil. Although nothing is certain, we look forward to disposing of
these non-core assets in Brazil and hope to announce progress on this in the not
too distant future. Casting our eyes further ahead, we continue to work
diligently on other potential projects with the intention of fulfilling our
stated goal of growing into a profitable mid-tier gold producer focused in
geologically prominent South American jurisdictions. We hope to provide further
positive news on both of these objectives in the near future." 


About Ecometals

Ecometals Limited is a Canadian-listed mineral exploration and development
company focused on mineral resources in Latin America. Apart from its interests
in manganese, Ecometals also has gold exploration activities in Ecuador. 


This news release contains forward-looking information and forward-looking
statements (collectively, "forward-looking information") under applicable
securities laws, concerning the Company's business, operations, condition and
prospects, as well as management's objectives, strategies, beliefs and
intentions. Forward-looking information is frequently identified by such words
as "may", "will", "plan", "expect", "estimate", "anticipate", "believe",
"intend" and similar words referring to future events and results, including
with respect to the completion of the Ironman sale process, the issuance of
securities pursuant to the advisory agreement, the anticipated benefits of
engaging BalanTrove, the Company's financial and operational condition following
completion of BalanTrove's engagement, the Company's objective of growing into a
profitable mid-tier gold producer, and the Company's ability to dispose of some
or all of its Brazilian manganese assets. This forward-looking information is
subject to known and unknown risks, uncertainties and other factors that may
cause actual results to differ materially from those expressed or implied by the
forward-looking information. Factors that may cause actual results to vary
materially include, but are not limited to, the failure to close the Ironman
sale, the failure to obtain approval from the TSX Venture Exchange to the
issuance of the Shares, changes in general economic conditions or conditions in
the financial markets, and unanticipated operational or technical difficulties.
Such forward-looking information is based on a number of assumptions, including
but not limited to, there being no significant decline in existing general
business and economic conditions; political stability in the South American
countries where the Company conducts business. Should one or more risks and
uncertainties materialize or should any assumptions prove incorrect, then actual
results could vary materially from those expressed or implied in the
forward-looking information and accordingly, readers are cautioned not to place
undue reliance on this forward-looking information. The Company does not assume
the obligation to revise or update this forward-looking information after the
date of this news release or to revise such information to reflect the
occurrence of future unanticipated events, except as may be required under
applicable securities laws.


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


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


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