Ecuador Gold Announces Closing of Non-Brokered Private Placement of US$250,000 (C$329,125)

Vancouver, British Columbia--(Newsfile Corp. - October 6, 2016) - Ecuador Gold & Copper Corp. (TSXV: EGX) (the "Company") is pleased to announce it has closed a non-brokered private placement ("Private Placement"), which was announced on September 26, 2016. The Private Placement raised gross proceeds of US$250,000 (C$329,125) through the issuance of 548,541 common shares at a price of C$0.60 per share to an investor in the Company. The Company intends to use the proceeds of the private placement for working capital. The common shares issued under the private placement will be subject to a four-month hold period from the closing date of the private placement.

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.

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