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Message: Amends the Price of Previously Granted Stock Options

Amends the Price of Previously Granted Stock Options

posted on Feb 07, 2009 06:03AM
February 6, 2009
Ecometals Amends the Price of Previously Granted Stock Options
TORONTO, ONTARIO--(Marketwire - Feb. 6, 2009) - Ecometals Limited (TSX VENTURE:EC) (the "Company") announces that previously granted stock options to acquire an aggregate of 5,869,000 common shares have been amended, subject to the approval of the TSX Venture Exchange, to reduce the exercise price of such options to $0.10 per common share. All other terms of such previously granted stock options remain unchanged. Stock options granted to insiders of the Company accounted for 5,385,000 of the common shares under option. Disinterested shareholder approval was obtained on December 3, 2008 for the amendment of the stock options previously granted to insiders of the Company, as described in the Management Information Circular of the Company dated October 30, 2008, which can be reviewed at www.SEDAR.com.

The terms of such previously granted options are as follows:

----------------------------------------------------------------------
No. of      Original    Amended
Optioned    Exercise   Exercise      Original Date
Shares         Price      Price      of Grant           Expiry Date
----------------------------------------------------------------------
214,000         0.20       0.10      March 3, 2006      March 3, 2009
----------------------------------------------------------------------
60,000          0.20       0.10      March 3, 2006      March 3, 2009
----------------------------------------------------------------------
30,000          0.22       0.10      April 12, 2006     April 12, 2009
----------------------------------------------------------------------
64,000          0.65       0.10      Sept. 14, 2006     Sept. 14, 2009
----------------------------------------------------------------------
60,000          0.65       0.10      Sept. 14, 2006     Sept. 14, 2009
----------------------------------------------------------------------
14,000          0.65       0.10      Sept. 14, 2006     Sept. 14, 2009
----------------------------------------------------------------------
12,000          0.65       0.10      Sept. 14, 2006     Sept. 14, 2009
----------------------------------------------------------------------
10,000          0.65       0.10      Sept. 14, 2006     Sept. 14, 2009
----------------------------------------------------------------------
10,000          0.65       0.10      Sept. 14, 2006     Sept. 14, 2009
----------------------------------------------------------------------
10,000          0.65       0.10      Sept. 14, 2006     Sept. 14, 2009
----------------------------------------------------------------------
178,000         0.70       0.10      Nov. 21, 2006      Nov. 21, 2009
----------------------------------------------------------------------
22,000          0.70       0.10      Dec. 5, 2006       Dec. 5, 2009
----------------------------------------------------------------------
300,000         0.65       0.10      March 12, 2007     March 12, 2010
----------------------------------------------------------------------
80,000          0.65       0.10      March 12, 2007     March 12, 2010
----------------------------------------------------------------------
140,000         0.65       0.10      May 25, 2007       May 25, 2010
----------------------------------------------------------------------
300,000         0.50       0.10      July 28, 2007      July 28, 2010
----------------------------------------------------------------------
180,000         0.50       0.10      July 28, 2007      July 28, 2010
----------------------------------------------------------------------
60,000          0.50       0.10      July 28, 2007      July 28, 2010
----------------------------------------------------------------------
15,000          0.50       0.10      July 28, 2007      July 28, 2010
----------------------------------------------------------------------
250,000         0.50       0.10      Aug. 16, 2007      Aug. 16, 2010
----------------------------------------------------------------------
20,000          0.50       0.10      Aug. 16, 2007      Aug. 16, 2010
----------------------------------------------------------------------
100,000         0.50       0.10      Oct. 5, 2007       Oct. 5, 2010
----------------------------------------------------------------------
200,000         0.50       0.10      Oct. 5, 2007       Oct. 5, 2010
----------------------------------------------------------------------
60,000          0.50       0.10      Oct. 5, 2007       Oct. 5, 2010
----------------------------------------------------------------------
250,000         0.50       0.10      Feb. 20, 2008      Feb. 20, 2013
----------------------------------------------------------------------
1,000,000       0.50       0.10      Feb. 20, 2008      Feb. 20, 2013
----------------------------------------------------------------------
600,000         0.50       0.10      Feb. 20, 2008      Feb. 20, 2013
----------------------------------------------------------------------
200,000         0.50       0.10      Feb. 20, 2008      Feb. 20, 2013
----------------------------------------------------------------------
200,000         0.50       0.10      Feb. 20, 2008      Feb. 20, 2013
----------------------------------------------------------------------
100,000         0.50       0.10      Feb. 20, 2008      Feb. 20, 2013
----------------------------------------------------------------------
100,000         0.50       0.10      Feb. 20, 2008      Feb. 20, 2013
----------------------------------------------------------------------
100,000         0.50       0.10      Feb. 20, 2008      Feb. 20, 2013
----------------------------------------------------------------------
60,000          0.50       0.10      Feb. 20, 2008      Feb. 20, 2013
----------------------------------------------------------------------
150,000         0.50       0.10      Feb. 20, 2008      Feb. 20, 2013
----------------------------------------------------------------------
120,000         0.50       0.10      April 1, 2008      April 1, 2011
----------------------------------------------------------------------
600,000         0.50       0.10      April 20, 2008     April 20, 2011
----------------------------------------------------------------------
About Ecometals

Ecometals Limited is a Canadian-listed mineral exploration and development company focused on mineral resources in Latin America. Ecometals also holds 44.4% of Atomaer Holdings Pty Ltd., a private Australian holding company.
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