Ecometals Limited Announces Execution of Settlement Agreement with Asia Minerals Limited

Ecometals Limited (the "Company") (TSX VENTURE:EC)(BERLIN:GDQ)(FRANKFURT:GDQ)
announced in its press release dated January 11th, 2012 that Asia Minerals
Limited ("Asia Minerals") had requested repayment of the upfront payment of
US$2,000,000 which it had paid to the Company pursuant to a Sale Agreement (the
"Agreement") dated March 31, 2011, as amended, between Asia Minerals, as buyer,
Noble Mining Ltd., as seller, ("Noble Mining"), and the Company, as guarantor,
regarding the proposed sale by the Company to Asia Minerals of its indirect
interest in its Serra do Navio stockpiled manganese mineralized material in the
northern Brazil state of Amapa. See also press releases dated April 4, 2011,
April 18, 2011, September 19, 2011, October 17, 2011, December 2, 2011 and
December 16, 2011.


The Company is pleased to announce that it has executed a settlement agreement
with Asia Minerals whereby, in exchange for a full and final settlement, without
any admission whatsoever as to liability, of all claims between the parties,
Ecometals will not repay the US$2,000,000 but will instead transfer a 10%
shareholding in the Company's Brazilian subsidiary Ecometals Manganese do Amapa
Ltda, which owns the manganese mineralized material to AML. The resolution of
this issue will assist the Company in its discussions with other interested
parties in the disposal process for the Company's manganese assets in northern
Brazil.


The CEO of the Company, Mr William Lamarque, commented: "We are pleased to have
put this issue behind us which avoids costly and time consuming legal disputes
and is a major step forward in allowing us to focus on our stated goal of
monetizing legacy assets in favour of our future as a gold company. Many
shareholders will recognize the significance of this settlement agreement as a
reflection of Ecometals' recent Brazilian court victory, where our ownership
position in the Serra do Navio manganese project was vindicated, and an apparent
criminal conspiracy against Ecometals was uncovered. We would also like to thank
our recently appointed corporate advisors, BalanTrove Management, LLC, for
assisting in resolving this difficult matter."


About Ecometals

Ecometals Limited is a Canadian-listed mineral exploration and development
company focused on mineral resources in Latin America. Apart from the Manganese
Project, Ecometals also has gold exploration activities in Ecuador and Brazil
and significant iron projects in Brazil at grass roots and development planning
stages.


This news release contains forward-looking information which is not comprised of
historical facts. Forward-looking information involves risks, uncertainties and
other factors that could cause actual events, results, performance, prospects
and opportunities to differ materially from those expressed or implied by such
forward-looking information. Although the Company believes that the assumptions
and factors used in preparing the forward-looking information in this news
release are reasonable, undue reliance should not be placed on such information,
which only applies as of the date of this news release, and no assurance can be
given that such events will occur in the disclosed time frames or at all. The
Company disclaims any intention or obligation to update or revise any
forward-looking information, whether as a result of new information, future
events or otherwise, other than as required by law.