Mr. Heye Daun reports

ECUADOR GOLD STOCK OPTIONS

Ecuador Gold and Copper Corp. currently has a total of 13,233,819 stock options (5.2 per cent of the issued and outstanding common shares of the company) that are issued and outstanding, as previously disclosed by the company. These stock options were granted to employees, directors, officers and consultants of the company, which includes 2.3 million stock options granted on Aug. 17, 2012, at an exercise price of 15 cents per common share expiring on Aug. 17, 2017, and 6.34 million granted on Sept. 26, 2013, at an exercise price of 10 cents per common share expiring on Sept. 26, 2018, that remain outstanding in accordance with the company's stock option plan subject to the policies of the TSX Venture Exchange. The stock options represent a useful and valuable means of recognizing and incentivizing the contributions of the company's employees, directors, officers and consultants.