Ecometals Ltd. announced that it has issued a promissory note to an arm's length individual to evidence a loan to the company in the aggregate amount of $242,000. The Loan is repayable on the earlier of (i) May 31, 2012, and (ii) the date on which Ecuador Capital Corporation deposits the sum of $1,450,000 into escrow representing the final installment of the purchase price to be paid by ECC to the company with respect to the purchase by ECC from the company of the Condor Gold Project. The proceeds from the Loan are being used for working capital purposes.