Etruscan Resources Inc.

We believe that the market does not fully recognize Etruscan Resources Ltd's (TSX: EET) position as a major exploration company, the current fundamental value of its achievements or its growing portfolio of opportunities.See full report.

Etruscan Resources Inc. (TSX: EET) reported results from 22 drill holes at the 1.7 km Tabakoroni Zone on its Finkalo Permit in Mali South. Resolute Mining Limited holds 60% of the joint venture and is the operator at Finkalo.See full report.

Etruscan Resources Inc.
Another equally interesting and under appreciated company is Etruscan Resources Inc. (TSX: EET), headquartered in Nova Scotia and trading close to its 52-week low...See Presentation

Etruscan Resources Ltd. is scheduled to complete a Feasibility Study on its Agbaou project in Côte d’Ivoire in April of 2008, anticipating production in 2009. The combination of production from Agbaou, and cash flow from its Youga project with first gold pour scheduled for December 2007, should provide significant financial flexibility to explore its dominant land position in West Africa. See full report.

Etruscan Resources Inc. (TSX: EET) reports that construction at its Youga project in Burkina Faso is again accelerating now that the summer rains are receding. Progress is advancing, allowing the Company to schedule their first gold pour in December of 2007 with anticipation of reaching full commercial production by the end of March, 2008. Production from Etruscan’s 100% owned Youga project should provide approximately $20 million for exploration of its land position in West Africa, the largest of any mining company, without diluting shareholders See full report.

Etruscan Resources Inc. through Etruscan Diamonds has acquired the remaining 50% interest in the Tirisano Diamond Mine in South Africa. The acquisition of Tirisano increases the resource of the consolidated Blue Gum effectively doubling the previously scheduled production to 100,000 cubic meters per month. See full report.

We recently visited the Etruscan Resources Inc. (TSX: EET) corporate office in Bedford, Nova Scotia. Despite recent weakness in the price of the company’s stock price we remain confident of the positive near-, mid-, and long-term prospects of the company. We were reminded on our visit of the company’s depth in multiple dimensions of important components of fundamental value. These include the overwhelming importance of management, the significant potential for the first “second generation” gold discoveries in West Africa, and potential to advance numerous projects to either production or feasibility. In addition, the company has additional unappreciated fundamental value in its diamond assets in South Africa, as well as hints of early “blue sky” exploration in Nambia. See full report.

Etruscan Resources Inc. (TSX: EET) provided a construction update for its Youga project in Burkina Faso. Commissioning of the mine is scheduled for June of 2007. With its price protection program in place they anticipate free cash flow after debt service to the company of US$15 million for the first four years increasing to US$25 million thereafter for a period limited by expansion of resources.See full report.

Etruscan Resources Inc. (TSX: EET) is spinning off its South African diamond interests into Etruscan Diamonds Limited.They will hold a 62% interest in the new entity, scheduled for completion this March, in which they will raise C$10 million tocomplete a feasibility study and upgrade an exploration plant capable of processing 50,000 m³ per month. The spin off is intendedto consolidate ownership and establish a team with resources capable of focusing and advancing the opportunity. Thecompany intends to bring its resource to production, complete a public offering, and list on the Toronto and Johannesburg exchanges.See full report.

Etruscan Resources Inc. (TSA: EET) announced additional high grade assays from the Finkalo Gold Project in South Mali. Resolute Mining Ltd. (ASX: RSG) is the project manager, holding a 50% interest, with the ability to earn an additional 10% by spending $1 million in exploration. The next drill program is scheduled to include 61 holes (5,645 meters) of reverse circulation drilling.See full report.

Etruscan Resources Inc. (TSX: EET) announced results from rotary air blast (RAB) drilling at its Diba project in West Mali. The results confirm that gold mineralization extends across the 2.5 km strike length of the anomaly. Etruscan is now deploying an RAB drill rig to Kobokotosou, the second of four targets in West Mali. The Diba project is only one of over a dozen targets the company has identified in West Africa.See full report.

Etruscan Resources Inc. (TSX: EET) reported partial results of its 2006 drill program on its Agbaou project in Côte d’Ivoire.Drill results were in line with the results of the 2005 drill program, not with the expectation of increasing numbers of ounces, but with the purpose of upgrading historic resources to reserves. We would expect that upon completion of the drill program that the company will focus on its nearby Didoko target to increase the resources to feed a central mill facility...See full report.

We attended Etruscan Resources Inc.’s (TSX: EET) Analyst Day last week visiting two of its projects in West Aftrica. The trip included an inspection of EET’s Youga project currently under construction in Burkina Faso and exploration activities at its Diba exploration target in West Mali. We are increasing our rating to Strong Buy from Buy and are retaining our 12-month price target of C$8.00 per share and our High risk assessment. Overall, the increase in our rating is due to a higher confidence level in the company’s ability to successfully complete catalysts in the next 12 months important to our investment thesis which include:See full report.

Etruscan Resources Inc. (TSX: EET) received initial assay results on diamond drill core from its Diba property in Mali. The Diba project is 15 km south of the Sadiola Gold Mine. Drilling covered only 10%, in the southern end, of the Diba anomaly which is approximately 300 to 500 meters wide and 2 km long. EET has a 1,300 km² land package in Mali and the largest land position of any mining company in West Africa.See full report.

Etruscan Resources Inc. (TSX: EET) has a 10,000km² land package in West Africa, the largest of any mining company operating in Niger, Burkina Faso, Côte d’Ivoire, Mali, and Ghana. EET’s exploration concessions are contained within prospective greenstone belts known for hosting gold deposits. EET has a joint venture in one operating mine plus diamond concessions in South Africa. The company intends to become a dominant mid-tier mining company in West Africa. Milestones and catalysts for appreciation in the next 12-months include:See full report.