Ecometals Limited Announces Further Agreement with BalanTrove Management LLC

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


Ecometals Limited (the "Company") (TSX VENTURE:EC)(BERLIN:GDQ)(FRANKFURT:GDQ) is
pleased to announce that it has entered into an agreement with BalanTrove
Management LLC ("BalanTrove"), whereby BalanTrove has agreed to assist the
Company in evaluating, structuring and negotiating a potential acquisition of a
producing gold mine in South America (the "Transaction"). 


Under the terms of the agreement with BalanTrove (the "BalanTrove Agreement"),
BalanTrove will advise, structure and negotiate the Transaction, on the
Company's behalf, with the aim of finalizing the Transaction in the best
interests of the Company. The Transaction is yet to be finalized and therefore
the identities of the counter parties cannot be publicly revealed at this stage.
There is equally no guarantee that a final agreement will be entered into with
such parties. The BalanTrove Agreement will terminate on March 1, 2013 but may
be extended by agreement between the parties.


The terms of the BalanTrove Agreement envisage a work fee and a transaction
success fee, both to be paid in in the form of common shares of the Company (the
"Shares"). The work fee comprises the issuance of an aggregate number of Shares
having a total value of C$50,000 over the mandate period. The success fee
comprises the issuance of an aggregate number of Shares having a total value of
C$200,000. The number of Shares to be issued will be 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 (for the work
fee) and the execution of definitive written agreements for the Transaction (for
the success fee).


The BalanTrove Agreement and the issuance of the Shares under the BalanTrove
Agreement are subject to the approval of the TSX Venture Exchange. All Shares
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
Shares.


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.


About BalanTrove

BalanTrove Management LLC is a New York based advisory firm focused on corporate
finance, strategic and legal issues facing small to medium size organizations.


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 includes
statements with respect to the potential issuance of securities pursuant to the
BalanTrove Agreement and statements relating to the anticipated completion of
the Transaction. 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 Transaction
with an applicable party, 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
William Lamarque
Chief Executive Officer
[e-mail]


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


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


Information Regarding BalanTrove Management, LLC
Enquiries: [e-mail]
www.balantrove.com