Ecometals Limited Announces Further Agreement with BalanTrove Management LLC

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Ecometals Limited (the "Company") (TSX VENTURE:EC)(BERLIN:GDQ)(FRANKFURT:GDQ) is
pleased to announce that it has entered into a further agreement with BalanTrove
Management LLC ("BalanTrove"), a New York based advisory firm focused on
corporate finance, strategic and legal issues facing small to medium size
organizations (the "BalanTrove Agreement").


Under the terms of the BalanTrove Agreement, BalanTrove will advise, structure
and negotiate, on the Company's behalf, a potential agreement/s for the Company
to provide project management services to the Brazilian gold mining assets of an
unrelated company (the "Project Management Transaction"). Such project
management services currently envisage Ecometals utilising its personnel, local
Brazilian relationships and technical skills in order to manage the bringing
into production, and subsequent operation of, a gold producing asset in Brazil.
Talks involving such an agreement with counter parties are at an early, informal
stage and therefore the identities of such counter parties cannot be publicly
revealed at this stage. There is equally no guarantee that a final agreement
will be entered with such parties.


Any remuneration paid to BalanTrove under the BalanTrove Agreement will only be
payable in the event that definitive documentation is entered into by the
Company for a Project Management Transaction. The terms of the BalanTrove
Agreement envisage BalanTrove being paid in the form of common shares of the
Company (the "Shares") having a total aggregate value of C$130,000. The number
of shares to be issued will be based on the volume weighted average trading
price of the Shares for the five-day period immediately before the date that the
Company enters into definitive documentation for the Project Management
Transaction. The BalanTrove Agreement will commence immediately and terminate on
December 31, 2012.


The BalanTrove Agreement and the issuance of the securities under the BalanTrove
Agreement are subject to the approval of the TSX Venture Exchange. All
securities issued pursuant to the BalanTrove 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: "The Company is acutely
aware of the need to pursue revenue generating activities in order to enable it
to move forward with developing its current assets, most notably the Rio Zarza
gold project in Ecuador. We are currently evaluating opportunities in this
regard and look forward to announcing the results of this 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 and
Brazil and significant iron projects in Brazil at grass roots and development
planning stages.


This news release contains forward-looking information and forward-looking
statements (collectively, "forward-looking information") under applicable
securities laws. 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, and in this
news release includes statements with respect to the potential issuance of
securities pursuant to the BalanTrove Agreement, the anticipated completion of
the Project Management Transaction and the Company's development plans. 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 conclude an agreement for a Project Management Transaction with an applicable
party, the inability to conclude revenue generating transactions in general,
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 and continued 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.