EGX : Ecuador Gold Announces Proposed Shares-For-Debt

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1901 - 5000 Yonge Street Toronto, Ontario M2N 7E9 Telephone: [phone]-­‐3402 Fax: [phone]-­‐3801

NEWS RELEASE

ECUADOR GOLD ANNOUNCES PROPOSED SHARES-­‐FOR-­‐DEBT

September 29, 2015 - Toronto, Ontario: Ecuador Gold & Copper Corp. (TSX-­‐V: EGX) (the 'Company') wishes to announce that it has made arrangements to settle an aggregate of up to C$45,660.42 in outstanding debt (the 'Debt') owed to creditors in connection with camp management and labour services provided to the Company. The Company is proposing to settle the Debt by issuing an aggregate of up to 913,208 common shares (the 'Debt Shares') of the Company at a deemed price of C$0.05 per Debt Share. All Debt Shares issued to settle the Debt will be subject to a four month hold period and the issuance of the Debt Shares will be subject to approval of the TSX Venture Exchange.

About Ecuador Gold and Copper Corp.

Ecuador Gold and Copper Corp. is a Canadian exploration and mining company focused on its gold and copper mineral properties located in the Province of Zamora-­‐Chinchipe in southern Ecuador. The Company has completed a Preliminary Economic Assessment of its Santa Barbara Gold and Copper Project dated May 29, 2015, and 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 please contact: Heye Daun

President & CEO

Telephone: [phone] (Vancouver Office) Email: [e-mail]

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.