Ecuador Gold Announces Mailing of C$160,000 Unit Offering Information to Existing Shareholders

Toronto, Ontario--(Newsfile Corp. - November 24, 2014) - Ecuador Gold & Copper Corp. (TSXV: EGX) (the "Company"), is pleased to announce that further to its News Release on November 14, 2014, it has mailed to the existing shareholders of the Company information concerning its proposed C$160,000 private placement of units ("Units") of the Company at a price of C$0.05 per Unit (the "Unit Offering"). Each Unit will be comprised of one common share and one-half common share purchase warrant (each whole warrant a "Warrant") of the Company. Each Warrant entitles the investor to acquire one additional common share of the Company at an exercise price of C$0.10 per share for 24 months following the date of issuance. The Unit Offering is subject to approval of the TSX Venture Exchange.

The sale of Units under the Unit Offering will be conducted in reliance upon certain prospectus exemptions, including the exemption allowing issuers to raise capital by distributing securities to existing shareholders (the "Existing Shareholder Exemption"). In accordance with the Existing Shareholder Exemption, the Company confirms there is no material fact or material change related to the Company which has not been generally disclosed.

The opportunity to purchase Units under the Unit Offering is in reliance on the Existing Shareholder Exemption that is available to all shareholders as at the date hereof who hold common shares of the Company to a maximum subscription of C$15,000 per shareholder. The information sheet mailed to existing shareholders provides additional details about the Unit Offering and is attached hereto as Schedule "A". For further information about the Unit Offering and the Company, please contact:

Cautionary Note

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. securities laws.

SCHEDULE "A"

INFORMATION RE: CDN$160,000 UNIT OFFERING TO EXISTING SHAREHOLDERS
(This is for information purposes only and does not constitute an offering of securities.)

Details of Offering: On November 14, 2014, Ecuador Gold and Copper Corp. (the "Company") announced that it intended to raise gross proceeds of up to C$160,000 through a private placement offering to existing shareholders of units ("Units") of the Company at a price of C$0.05/Unit (the "Unit Offering"), which is in addition to a further US$1,070,000 (originally announced as US$840,000) being raised through a separate debenture offering (the "Debenture Offering") to certain major shareholders of the Company.

The Units: Each Unit is comprised of one common share and one-half common share purchase warrant, and each whole warrant (a "Warrant") entitled the holder to acquire one additional common share of the Company at an exercise price of C$0.10 per share for 24 months following the date of issuance.

Offering Amount and Price: Up to C$160,000 at C$0.05/Unit.

Selling Jurisdictions: The Units may be sold to existing shareholders in British Columbia, Alberta, Ontario, and certain "offshore" jurisdictions outside Canada and outside the United States and such other jurisdictions as the Company may determine, in accordance with available exemptions from applicable securities law restrictions, as described below.

Existing Shareholder and Other Exemptions: The opportunity to purchase Units under the Unit Offering is in reliance on the exemptions from applicable securities law restrictions, including:

The Units and underlying securities will be subject to a hold period of four months plus one day, which period will start on the date of the issuance of the Units.

Closing Date: The Company intends to close the Unit Offering in one or more closings on or before December 12, 2014.

Use of Proceeds: The Company will use the net proceeds from the Unit Offering for exploration and development of the Company's Condor Gold Project and as additional working capital. Approximately US$826,200 of proceeds raised under the Debenture Offering is allocated for use in Ecuador for the Company's Condor Gold Project and in country working capital, US$230,000 is allocated for the Company's preliminary economic assessment, and US$13,800 is allocated for use in connection with the costs of the offering.