HALIFAX, March 9 /CNW/ - Etruscan Resources Inc. (EET.TSX) reported today that its Youga Gold Mine located in Burkina Faso, West Africa poured 15,180 ounces of gold during the first quarter of 2009. Mill throughput for the period was 209,000 tonnes at an average grade of 2.61 per tonne. During the first quarter, Etruscan sold 16,160 ounces of gold realizing gross revenues of US$ 11.7 million.

Throughput for the quarter was lower than projected due to reduced availability of the on site power generators which has been rectified by SDMO, the supplier of the generators. Power at the mine site is presently provided by six diesel generators providing eight mega watts of power, however the primary source of power is to be delivered via the nearby Ghanaian national power grid. The grid power line from Ghana is scheduled to provide power to the site in the second quarter 2009. This will greatly mitigate risk with respect to power supply to the project and the diesel generators will act as a backup power supply as was originally intended. Head grades during the quarter were also negatively impacted as a result of lower than forecast drill rig availability for blasting. The drill and blast contractor now has all its drill rigs operating at a level which will allow forecast ore grade material to be delivered to the plant.

Production for 2009 is forecast between 80,000 and 90,000 ounces.

Etruscan also announced today that is has agreed to issue 750,000 warrants to each of RMB Australia Holdings Ltd. and Macquarie Bank Limited as consideration for the banks agreeing to certain amendments to the terms of the US$35million Youga senior debt facility including a delay in the timing for deposit of funds to a reserve account required to be established pursuant to the terms of the facility agreement. The warrants are exercisable for a period of three years at a price of $0.51 per share. RMB Resources Limited held one million warrants exercisable at a price of $3.50 per share which expired unexercised on March 1, 2009.

Robert Harris, P.Eng., Vice President of Operations of Etruscan, is the Qualified Person overseeing production and development in West Africa and South Africa and has reviewed and approved this press release. The quarterly figures in this press release are preliminary and are subject to final adjustment.

About Etruscan Resources Inc.

Etruscan Resources Inc. is a gold focused Canadian junior mining company with dominant land positions in district scale gold belts covering more than 13,000 square kilometers in West Africa. Its principal mine development projects include the Youga Gold Project in Burkina Faso (latest press release dated December 1, 2008), the Agbaou Gold Project in Cote d'Ivoire (latest press release dated February 21, 2008), and the Finkolo Gold Project in Mali (latest press release dated July 2, 2008).