Ecuador: rehabilitating a land with a chequered mining history

GLOBAL RESOURCESINVESTMENT CONFERENCE

STATIONERS’ HALL, CITY OF LONDON ● TUESDAY-WEDNESDAY, 27-28 SEP 2011

www.ObjectiveCapitalConferences.com

Ecuador: rehabilitating a land with a chequered mining history Steve White – Ecuador Gold

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GLOBAL RESOURCESINVESTMENT CONFERENCE 2011

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3

ADVANCED GOLD PROJECT IN ECUADOR

Corporate PresentationSeptember 2011

4www.ecuadorgoldinc.com

Disclaimer

Forward Looking InformationThis presentation includes statements that are forward-looking. All statements in the presentation (other than statements of historical fact) that address future operations or plans of Ecuador Gold Inc. (“ECC”) or their affiliates, proposed acquisitions, development and commissioning of mines, long term corporate goals, estimated development costs or operating costs, marketing plans or anticipated customers, mine reserves or resources, expansion of production, demand for product, and the future of the mining industry in general and the mining industry in Ecuador in particular are forward-looking statements. Such forward-looking information involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from the results, performance or achievements implied by the forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, market prices for gold, general economic, market and business conditions, risks and uncertainties related to ECC’s abilities to complete their acquisition of gold properties in Ecuador, to successfully explore and develop the property, to obtain all necessary permits for exploration and development as and when required, to obtain listings for securities of ECC on a Canadian stock exchange upon completion of the acquisition of the property by ECC, estimation of resources and reserves, delays in exploration or development, accidents, equipment breakdowns, title matters, labour disputes or other unanticipated difficulties with or interruptions in exploration or development, gold price fluctuations, failure to obtain adequate financing when needed, exchange rate fluctuations, and risks and uncertainties associated with doing business in Ecuador.

Although ECC has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that statements containing forward looking information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on statements containing forward looking information.

There may be information in this presentation that is information about prospective results of operations, financial position or cash flows (a “financial outlook”). This financial outlook is provided only to assist in an evaluation of the prospective business outlined in this presentation, but are not to be relied upon as accurate representations of future results and may not be appropriate for any other purpose. Furthermore, because this financial outlook is based upon estimates and hypothetical assumptions about circumstances and events that have not yet taken place and are subject to variation, there are no representations or warranties associated therewith, and there can be no assurance that the outlook will be attained. Readers are cautioned that no forward looking statement or financial outlook is a guarantee of future performance. ECC assumes no obligation to update these forward-looking statements or financial outlook except as may be required by law.

Not an Offering of SecuritiesThis presentation is for information purposes only and does not constitute an offer to sell or a solicitation to buy the securities of ECC or any other securities.

Cautionary Note to U.S. Investors Concerning Estimates of Measured and Indicated ResourcesThis presentation uses the terms “Measured” and “Indicated” Resources. U.S. investors are advised that while such terms are recognized and required by Canadian regulations, the U.S. Securities and Exchange Commission does not recognize them. U.S. investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves.


Corporate Highlights

Proven Resources

Proximity adjacent to a Major

Experienced Management Reinterpretation of the Geological Model

Aggressive Drill Program

Timing - Ecuador now ‘Open for Business’

Fully Funded - Listing Imminent


Ecuador

Ecuador: Improving Mining Regime

• Well understood favorable mining geology

• Geological studies performed by the British, Swedish and Ecuadorian Geological Surveys

• Mining code established and mining tenement registry (catastral) is posted on the internet

• Mining contracts being negotiated with Kinross, China Railway and International Minerals

• Kinross has committed to investing $1.1 billion to the development of its Fruta del Norte Project

• All business in Ecuador is transacted in US$


Location



Condor Gold Project

• 90% interest in the Condor Gold Project

• Current 43-101 - 2.8 million oz gold

• Additional 43-101 – 14.92 million oz silver

• New geological interpretation of property/package

• Aggressive 40,000+ meter exploration & drilling campaign starting in Q4 2011

• Proximity- adjacent to 13.7 million

oz Fruta del Norte Project (Kinross) and 4.5 million oz Mirador Project (China Railway)

• Continued Ecuador country de-risking- Mining law in place- Mining contracts in process with majors


Management

John ReynoldsChairman & Director

• Member of Parliament, Canada; Minister of the Environment, BC; and Official Opposition House Leader

• Senior Strategic Advisor to Lang Michener law firm in Vancouver• Member of the Queen's Privy Council for Canada

Glenn LaingPresident, CEO and Director

• Over 30 years experience in the mining and financial industries including over 25 years in the position of President / Managing Director of mining and exploration companies

• Raised in excess of $1 billion for mining and exploration projects

James HuttonDirector

• Over 25 years of business, mineral exploration, project management and development experience. Ran $1 billion plus CMP Resources Fund

• Chairman Terra Group

Andrew PullarDirector

• Fund Manager – The Sentient Group• Mining Engineer – over ten years experience in mineral exploration,

development and funds management (Baker Steel)

Carson PhillipsDirector

• Director of Plains Creek Phosphate• Formally with the International Chamber of Commerce, Paris, France


Acquisition

• Ecuador Capital acquired a 90% interest in the Condor Gold Project through assignment of Alca’s agreement with Ecometals by:

- Making all payments to Ecometals ($7 million)

- Spending $8 million on exploration

- Issuing 15 million shares to Alca

• Alca had the right to purchase a 90% interest in the Condor Gold Project from Ecometals for $7 million:

- $2 million due December 31 2010 (Paid)

- $2.5 million due May 31, 2011 (Paid)

- $2.5 million due on Nov 30,2011

• DINE will continue to hold a 10% interest in the project

• FJTX Concession – acquired from EcoMetals – paid $500,000 (31st May)

Ecuador Capital Corp

Agreement to acquire all of Alca

Gold’s 90% Interest

Alca Gold Corp

Agreement to acquire Ecometals

90% Interest

Condormining Corp

Acquisition Structure


Location

Mirador Project:

• China Railway & Tongling acquired Corriente Resources in 2010 for $679 million

• Resources estimate of 4.5 MMoz Au and 11.5 MMt Cu

Fruta del Norte Project:

• Kinross acquired Aurelian Resources in 2008 for $1.3 billion

• Resources estimate 13.7 MMoz Au

• In 2011, Kinross announced $1.1 billion for the Fruta Del Norte gold project to produce 400,000 oz per year

Project Location


Condor Gold Project Resources

Chinapintza Vein System:

• 95,000 oz Au @ 11.2 g/t and 596,000 oz Ag @ 70.2 g/t M+I resources

• 459,617 oz Au @ 5.9 g/t and 3.5 MMoz Ag @ 44.4 g/t inferred resources

Condor Gold:

• Includes San Jose, Enma and Soledad

• 1.4 MMoz Au @ 1.0 g/t and 10.9 MMoz Ag @ 8.8 g/t M+I resources

Santa Barbara Au-Cu Porphyry:

• 819,844 oz Au @ 1.0 g/t inferred resources

Total Resources:

• 1.5 MMoz Au M+I and 1.3 MMoz Au inferred

• 11.5 MMoz Ag M+I and 3.5 MMoz Ag inferred

43-101 Compliant Resource


Geology

• Located approximately 40 km (straight-line) east of the town of Zamora in the Pachiicutza Mining District

• Four types of mineral systems exist

• Low sulphidation epithermal gold in diatremes

• Vocaniclastics & breccia pipes

• Polymetallic (Au, Ag, Pb, Zn) mesothermal veins & structurally controlled high grade epithermal gold

• Gold, copper/gold & copper/molybdenum porphyry systems

• The Northern Sector comprises low sulfidation mineralization which is hosted by a series of breccia pipes, porphyry potential, as well as by the numerous narrow fault-veins of the Chinapintza Vein System

• The Southern Sector is host to both classic Cu-Au Porphyry mineralization and structurally controlled higher grade Au

• El Hito is a large classic Cu-Mo Porphyry

Chinapintza

Los Cuyes

San Jose

El Hito

Santa Barbara


Two Porphyry Models

TYPE AGold – Copper Base Metal Model

+/- Ag, Mo, Zn

TYPE BGold Rich Model

Au, Cu, Mo, Zn, Bi, Te, As


Northern Section Regional Geology


Northern Section Geology

Condor Gold: New District Geologic & Porphyry Models

Geophysics Anomalies, Geology & PDH


Northern Section - IP

IP Interpretation with Porphyry Types


Northern Section Geology

Geology & Porphyry Type X-Sections


IP Geophysics with Porphyry Types

Northern Section Geology & Geophysics Sections


Resistivity Geophysics with Porphyry Types

Northern Section Geology & Geophysics Sections


Northern Section Proposed 2011 Drilling

Northern Section Magnetics


• Gold-silver-lead-zinc in vein system split between Chinapintza and Jerusalem Project (Dynasty Metals)

- Combined 1.9 MMoz Au resource

- Jerusalem M+I resource of 585,100 oz Au at an average grade of 12.4 g/t and an inferred resource of 710,130 oz Au at an average grade of 11.5 g/t

- Proposed acquisition or JV with Dynasty to facilitate consolidated exploration, resource development and feasibility

• Further Exploration could significantly increase resources & economics

DynastyJerusalem

Project

ChinapintzaDistrict

Northern Section – Chinapintza Vein System


Northern Section – Los Cuyes Deposit


High Grade Zinc-Pyrite Veined Breccia

Underground Working in High Grade Vein Los Cuyes Deposit

Northern Section – Soledad Deposit


Drill hole DEN-04a 74 to 76m depth assayed 250g Au over 2m

Various Types of Mineralized BrecciasLocal Mine Extracting High Grade Vein

Northern Section – Enma Deposit


Chinapintza

Los Cuyes

San Jose

El Hito

Santa Barbara

El Hito – Santa Barbara Sector

• Porphyry Cu-Mo mineralization

• Further exploration intends to focus on the porphyry potential

Santa Barbara – Santa Barbara Sector

• Structurally controlled Cu-Au mineralization

• Further exploration will be conducted in upcoming exploration campaign

Southern Section – El Hito & Santa Barbara


IP/Chargeability with Previous & Proposed Drilling

Southern Section – Santa Barbara


Quartz stockwork zone in a porphyry intrusion at the SW part of El Hito. The outcrop is about 75 m wide. The area is still untested by drilling.

DH02: 171.2 m, Moly – cpy in grandiorite porphyry

DH03: 19.2 m, malachite in coarse grained diorite porphyry

Southern Section – El Hito


Capital Structure

Shares

Founders & Management 10,000,000

Seed Financing (Round 1) - $3,000,000 Shares @ CDN$0.15 per share

20,000,000


8,333,333


6,666,667

IPO Financing (Round 4) - $17,000,000 Shares @ CDN$0.50 per shareALCA – Share OwnershipEnterprise Capital Corp

34,000,000

15,000,0002,750,000

Capital Structure Upon TSX Venture Listing 96,750,000

*Pro forma Structure on completion of TSX Venture listing



Proven Resources

Proximity adjacent to a Major

Experienced Management Reinterpretation of the Geological Model

Aggressive Drill Program

Timing - Ecuador now ‘Open for Business’

Fully Funded - Listing Imminent


Contact:Steve White

Suite 1910-1055 West Hastings StreetVancouver, BC V6E 2E9

Tel: 604-657-5871

UK – 07757 457 364

Email: [email protected]

Contact


Appendices


Notes:

• Per Al Maynard and Associates Pty Ltd. (14th April, 2011) – 43-101 Technical Report

• 0.25 g/t or 0.5 Au cut-off grade

• Totals are rounded

NI 43-101 Resources

Ecuador: rehabilitating a land with a chequered mining history

Business

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