Company Information for Etruscan Resources Inc

TSX-EET

www.etruscan.com

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Company Statement

Etruscan Resources Inc. is a diversified Canadian mining company that has been exploring for gold and diamonds in Africa for over 12 years. Today, Etruscan holds one of the largest strategic land positions in West Africa covering over 10,000 km² in the prolific gold belts of Mali, Niger, Burkina Faso, Côte d'Ivoire and Ghana. The Company is also active in diamond exploration and development in South Africa. Etruscan's interests include operations that produce gold and diamonds together with advanced stage projects and earlier stage regional exploration opportunities.

The Company is based in Nova Scotia, Canada and its common shares trade on the Toronto Stock Exchange (TSX) under the symbol EET.

Etruscan Near Term Growth

growing gold production profile from three advanced stage gold projects
targeting gold production of 140,000 oz per annum by 2008
gold production fiscal 2005: 36,908 oz @US$247
diamond resources expanding in proven alluvial diamond district

Current Operations

Etruscan is uniquely positioned for growth in Africa having operated on that continent for over 12 years. Etruscan has a growing gold production profile from three properties (Samira, Youga and Agbaou) in three different countries (Niger, Burkina Faso and Côte d'Ivoire). This production is only the beginning of the Etruscan story. Etruscan holds strategic land packages in West Africa on a number of known gold belts covering over 10,000 km2 in five countries with a further 7,000 km2 of permits under application. This package represents one of the largest land packages held by any company operating in West Africa with only a small fraction of the holdings presently being developed. In June 2006, Etruscan announced that it had made a significant new gold discovery on its Diba property located 15 kilometers south of the Sadiola gold mine in Mali, West Africa. Gold mineralization was confirmed in saprolite by auger drilling over an area measuring 2.5 kilometers in length and 300-500 meters in width. Etruscan also has a growing diamond production profile in a proven diamond district in South Africa.

BURKINA FASO/GHANA
Etruscan has acquired strategic land positions in three important greenstone belts in Burkina Faso: the Youga Gold Belt, the Banfora Gold Belt, and the Houndé Gold Belt. This strategic land package covers over 2,900 km2. Etruscan's landholdings in Ghana are located on the Bole-Bolgatanga Gold Belt and represent the southwest extension of the 80 kilometer Youga Gold Belt located in Burkina Faso. These landholdings consolidate Etruscan's land position over the Youga/Bole-Bolgatanga Gold Belts where Etruscan now controls in excess of 1,848 km2.

Youga Gold Mine
Construction of Etruscan's Youga Gold Mine has progressed significantly and is scheduled to be completed in second quarter of 2007. Youga presently has a mineable gold reserve of 6.6 million tonnes at an average grade of 2.7 grams per tonne containing 580,000 ounces gold. The initial open pit mining operation will be comprised of five pits with the ore being processed over an initial 6.6 year mine life through a conventional gravity-CIL (carbon-in-leach) plant with a design capacity of one million tonnes per annum. The total project funding requirements based on the updated Youga Gold Deposit Feasibility Study (October, 2006), including financing costs, are estimated at US$53 million and will be funded through a combination of debt and equity financing.
The Youga Gold Deposit feasibility study completed January, 2005 by RSG Global (Pty) Ltd. and MDM Ferroman (Pty) Ltd. as updated October, 2006, concludes that Youga will produce an average of 86,000 ounces of gold per year at a cash operating cost of US$301 per ounce over a 6.6 year mine life from five deposits.

COTE D'IVOIRE

Agbaou Gold Project
Etruscan's Agbaou Gold Project covers 939 km2, giving Etruscan control of the 40 kilometer strike length of the Agbaou Gold Belt in Côte d'Ivoire. Agbaou is an advanced stage gold deposit and one of the largest undeveloped gold resources in Côte d'Ivoire.

MALI

Mali West
Etruscan's landholdings in Mali West cover over 1,300 square kilometers. In 2004 and 2005 Etruscan focused its efforts on regional exploration efforts over these properties, advancing a number of drill targets to drill-status based on favourable soil sampling and shallow auger drilling.

Diba
In June 2006, Etruscan announced a new gold discovery at Diba located 15 kilometers south of the Sadiola Gold Mine in Mali West.

The Diba gold discovery covers an area measuring 2.5 kilometers in length and 300-500 meters in width. Etruscan commenced a diamond drill program on the Diba property in October, 2006. A reverse circulation ("RC") drill rig is also being utilized at Diba. The RC rig will focus on testing the bulk of the anomaly to the northwest which extends for 2.5 kilometers and has only been auger drilled.

Mali South

Finkolo
Etruscan's most advanced project in Mali is on the Finkolo exploration permit located in Mali South approximately 200 kilometers southeast of Bamako. The Finkolo permit covers 160 square kilometers along the Syama gold belt and is contiguous with the Syama holdings of Resolute Mining Ltd. which hosts the 6.4 million ounce Syama gold deposit. Resolute is managing and funding the exploration program at Finkolo pursuant to an option and joint venture agreement.

Other Permits
Etruscan's land holdings in Mali South outside of Finkolo cover over 1,300 square kilometers. These areas are considered early stage exploration opportunities.

NIGER

Samira Hill Gold Mine
The Samira Hill Gold Mine is the first commercial open pit gold mine in Niger and began operation in September 2004. The pre-production mineable reserves from the Samira Hill and Libiri pits are estimated to total 10.08 million tonnes grading 2.2 grams of gold per tonne from which 618,000 ounces will be recovered over a 6.3 year mine life.

The current mining operation is only processing the near-surface oxide and transition ores from the Samira and Libiri deposits and does not account for the possibility of mining the deeper sulphide ores or additional ores from satellite deposits along the 50 kilometer strike length of the Samira Gold Belt.

The Samira Hill and Libiri deposits are just two of a number of significant gold deposits along the 50 kilometer Samira Gold Belt extending into neighbouring Burkina Faso. By constructing a central processing facility at Samira, Etruscan expects to extend the 6.3 year mine life with the development of existing satellite deposits and the discovery of new deposits within easy trucking distance of the existing mill.

SOUTH AFRICA

Over the last four years Etruscan, through its 51% owned subsidiary, Etruscan Diamonds (Pty) Limited, has been acquiring strategic properties in the Ventersdorp Alluvial Diamond District located approximately 150 kilometers west of Johannesburg, South Africa.

Ventersdorp Alluvial Diamond District
The Ventersdorp Alluvial Diamond District is located approximately 150 kilometers west of Johannesburg and covers over 5,000 square kilometers. The area has not been commercially exploited on a large scale. From 1926 to 1984 over 667,000 carats were produced from the District. Over the past four years, Etruscan Diamonds has been acquiring strategic properties throughout the Ventersdorp district and presently holds two mining permits and ten prospecting permits covering approximately 257 km2 with an additional five prospecting permits under application. Etruscan Diamonds has two mines in the Ventersdorp District, the Klipgat Diamond Mine and Tirisano Diamond Mine. These mines represent the first phase of development of the properties held by Etruscan Diamonds and will provide the key technical parameters for determining the location and size of other operations on other properties in the Ventersdorp District.

Klipgat Diamond Mine
The Klipgat Diamond Mine is located approximately 100 kilometers west of Johannesburg. The Klipgat Diamond Mine is being developed by Etruscan Diamonds in partnership with the Bakwena Ba Mare A Phogole Community, the local Black Economic Empowerment (BEE) community, which holds a 26% interest in the Klipgat Diamond Mine with the remainder being owned by Etruscan Diamonds.

The Klipgat Diamond Mine operated under a prospecting permit from February 2002 to April 2004, when an application was made for a mining permit under the new mining legislation of South Africa. Operations at the Klipgat Diamond Mine recommenced in June 2005 upon Etruscan Diamonds receiving a mining permit under the new mining legislation. Etruscan Diamonds manages the Klipgat Diamond Mine which is operated by contract operator, Gothoma Diggings CC.

Tirisano Diamond Mine
The Tirisano Diamond Mine is located approximately 150 kilometers west of Johannesburg. The Tirisano project is being developed by Etruscan Diamonds in partnership with Mvelaphanda Exploration (Pty) Limited (Mvelaphanda Exploration). Mvelaphanda Exploration is jointly owned by Trans Hex Group Limited and Mvelaphanda Resources Limited, a broadly based black empowerment corporation focused on the South African mineral sector. Mvelaphanda Exploration controls a 50% interest in the Tirisano Diamond Mine with the remainder being owned by Etruscan Diamonds.

The mines is currently on care and maintenance until the foreign exchange rate (U.S. dollar/Rand) and diamond values per carat improve. Dewatering of the pits is continuing during this period to enable the operation to restart quickly when favourable market conditions prevail.

Blue Gum Diamond Deposit
Etruscan Diamonds is presently bulk sampling three locations on the Blue Gum property which is adjacent to the property on which the Tirisano Diamond Mine is located. Contract miners have been retained to carry out the mining and diamond recovery from selected bulk sampling sites on the Blue Gum property. The objective of the program is to determine the diamond grade of the different gravel packages and the resulting value profile of the diamondiferous payable gravels. A drilling program will assist in identifying the bulk sampling locations as well as determining the extent of the gravel volumes.

The Blue Gum deposit is being developed in partnership with the Mogopa Community, the local Black Economic Empowerment (BEE) community, which holds a 26% interest in the deposit.

Geographical Spread

Board of Directors and Key Management

Gerald McConnell, Q.C.

President & Chief Executive Officer

Gerald McConnell has over 20 years experience in the mining sector and in 1984 founded TSX listed, NovaGold Resources Inc. and served as its President and Chief Executive Officer until 1998. Subsequently, he became President & CEO of Etruscan. Under his leadership, Etruscan has gained the respect of its competitors in Africa for both the technical successes in exploration discoveries and mine development in West and South Africa.. Mr. McConnell is a graduate of Dalhousie University Law School and he received his Queen’s Counsel designation in 1986.

Glenn Holmes, CA

Chief Financial Officer and Treasurer

Glenn Holmes holds a Bachelor of Commerce (Honours) from Saint Mary’s University and received his chartered accountant designation in 1988. He is a member of the Canadian Institute of Chartered Accountants and the Institute of Chartered Accountants of Nova Scotia and joined NovaGold in 1987 and Etruscan Resources in 1990.

Donald Burton BSc, MSc

Vice President Exploration & Chief Operating Officer

Don Burton holds a BSc (Honours) in Earth Sciences from the University of Waterloo (1978) and a MSc. in Geology from the University of New Brunswick (1984) and is a Fellow of the Geological Association of Canada. Mr. Burton joined Etruscan in 1990 and was responsible for setting up the Company’s operations in West Africa.

Robert Harris, P. Eng.

Vice President, Operations

Robert Harris holds a BSc (Honours) and a Master’s degree in chemical engineering from the University of New Brunswick and a Diploma in Marketing and International Business from Saint Mary’s University. Mr. Harris is responsible for the management of the company’s development and production projects.

Werner Claessens

Director of Exploration for West Africa

Werner Claessens holds a License in geological and mineralogical sciences catholic university of Leuvern, Belgium and joined Etruscan in 1997. He has over 21 years of experience in West African gold exploration with involvement in three West African deposits - Sadiola Hill and Morila in Mali and Samira Hill in Niger.

Janice Stairs, LLB, MBA

Vice President, General Counsel and Secretary

Ms. Stairs holds a law degree from Dalhousie University in Halifax, Nova Scotia and a Masters in Business Administration from Queen’s University in Kingston, Ontario. Prior to joining Etruscan, Ms. Stairs practiced law specializing in corporate finance, securities and resource-related issues for private and public companies.

Company Address

Etruscan Resources Inc.
P.O. box 2020
48 Gerrish Street
Windsor, Nova, BON 2T0


Telephone:	902 798 9701
Facsimile:	902 798 9702
Email:	info[at]etruscan.com
Website:	http://www.etruscan.com

Capital

Issued and outstanding; 106,496,315
Warrants; 5,243,463
Options; 5,891,000
Fully Diluted; 117,630,778

Year End

November 30

Major Shareholders

Royce Funds

Strategic Capital

Sprott Asset Mgt.

Most Recent Statement

06/08/08 - Etruscan Closes CDN$12.5 Million Public Offering
22/07/08 - Etruscan Announces Pricing for Proposed Public Offering
11/07/08 - Etruscan reports second quarter 2008 results
19/06/08 - Etruscan Drilling Multiple Targets in Namibia
17/06/08 - Etruscan's Youga Gold Mine Expects To Achieve Commercial Production End Of June
13/06/08 - Production surpasses US$3.3 Million at Etruscan's Blue Gum Diamond Project

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