Ecuador Gold Announces Closing of Second Tranche of Unit Offering

Toronto, Ontario--(Newsfile Corp. - December 22, 2014) - Ecuador Gold & Copper Corp. (TSXV: EGX) (the "Company"), is pleased to announce that it has closed the second tranche of the Unit Offering that when combined with the first tranche, raised total aggregate proceeds of $200,000, pursuant to the terms of the Unit Offering as described in the Company's news release dated December 15, 2014. The Company raised $160,000 in the fully subscribed first tranche, prompting an increase in the aggregate offering amount providing a further $40,000 in proceeds for in the second tranche through the sale and issuance of 800,000 Units at a price of $0.05 per Unit. All securities issued under the Unit Offering will be subject to a statutory four-month hold period from the date of issuance.

The Unit Offering is subject to the policies and approval of the TSX Venture Exchange and is conducted largely in reliance of the new private placement exemption for existing shareholders of the Company (the "Existing Shareholder Exemption"). The Existing Shareholder Exemption allows the Company to issue Units to existing shareholders other than residents of Ontario, Newfoundland and the United States who subscribe under the Unit Offering for not more than $15,000 per investor. Certain subscribers from Ontario, the United States and other jurisdictions are able to participate in the Unit Offering as "accredited investors" in those jurisdictions. The Company is pleased to have used this new Existing Shareholder Exemption as an opportunity to reach out to its existing investors to provide them with this opportunity and raise proceeds without incurring any finder's fees or commissions.

About Ecuador Gold and Copper Corp.

Ecuador Gold and Copper Corp. is a Canadian exploration and mining company focused on the Condor Gold Project located in the Province of Zamora-Chinchipe in southern Ecuador. The Company is currently listed on the TSX Venture Exchange under the symbol "EGX". For additional information, please visit us at www.ecuadorgoldandcopper.com.

For further information about the Unit Offering and the Company, please contact:

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