June 9, 1999 News Release

NEWS RELEASE ECUADORIAN MINERALS CORPORATION
June 9, 1999	Trading: TSE.EMC
ECUADORIAN TO ISSUE SHARES FOR PARTIAL PAYMENT OF DRILLING COSTS Ecuadorian Minerals Corporation (“EMC”) has reached an agreement with Connors Perforaciones S.A. ("Connors S.A."), a wholly-owned Ecuadorian subsidiary of Connors Drilling Ltd of Kamloops, British Columbia whereby EMC will issue to Connors S.A. 101,875 common shares at a price of Cdn$0.72 per share with a deemed value of US$50,000 (Cdn$73,350). The cash value of this share payment represents 25% of the estimated US$200,000 cost of the planned 2,000m diamond drilling program at EMC’s Beroen gold/silver project in Ecuador. This drilling program is scheduled to start in mid-June. Issuance of the shares is subject to regulatory approval. In addition, EMC has granted an aggregate of 550,000 Incentive Share Options pursuant to its Stock Option Plan, including 325,000 to directors and officers and 225,000 to employees and consultants. The exercise price is Cdn$0.90 per share until June 2009 and the granting of these options is subject to regulatory approval.
ON BEHALF OF THE BOARD Stephen J. Kay, President and CEO The Toronto Stock Exchange neither approves nor disapproves the information contained in this News Release. For additional information, contact Linda North at Tel: (602) 483-9932 or Fax: (602) 483-9926. Go Back to News Releases Return to Homepage
Ecuadorian Minerals Corporation is not a reporting issuer in the United States and the information provided herein is not a solicitation to sell shares. The Company, however, has maintained a Standard and Poor's Corporate Listing since July 1996.