-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 Ut8qOV1pmAiamOFWLo6O4FbKpSByV4W31NmM3CXEBF01cfgI/Bt+CAxXvpT/KL6z
 EqODhnYH/nPzJ5TN1fiZsA==

<SEC-DOCUMENT>0001179110-08-010107.txt : 20080519
<SEC-HEADER>0001179110-08-010107.hdr.sgml : 20080519
<ACCEPTANCE-DATETIME>20080519170230
ACCESSION NUMBER:		0001179110-08-010107
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20080512
FILED AS OF DATE:		20080519
DATE AS OF CHANGE:		20080519

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			EL CAPITAN PRECIOUS METALS INC
		CENTRAL INDEX KEY:			0001135202
		STANDARD INDUSTRIAL CLASSIFICATION:	METAL MINING [1000]
		IRS NUMBER:				880482413
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			0930

	BUSINESS ADDRESS:	
		STREET 1:		10876 E. TIERRA DRIVE
		CITY:			SCOTTSDALE
		STATE:			AZ
		ZIP:			85259
		BUSINESS PHONE:		480-948-0724

	MAIL ADDRESS:	
		STREET 1:		10876 E. TIERRA DRIVE
		CITY:			SCOTTSDALE
		STATE:			AZ
		ZIP:			85259

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DML SERVICES INC
		DATE OF NAME CHANGE:	20010216

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			WILSON R WILLIAM
		CENTRAL INDEX KEY:			0001319552

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-56262
		FILM NUMBER:		08845934

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		480-467-0388

	MAIL ADDRESS:	
		STREET 1:		8300 NORTH HAYDEN ROAD, SUITE 207
		CITY:			SCOTTSDALE
		STATE:			AZ
		ZIP:			85258
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>FORM 4 -
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2008-05-12</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001135202</issuerCik>
        <issuerName>EL CAPITAN PRECIOUS METALS INC</issuerName>
        <issuerTradingSymbol>ECPN</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001319552</rptOwnerCik>
            <rptOwnerName>WILSON R WILLIAM</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1325 AIRMOTIVE WAY, SUITE 276</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>RENO</rptOwnerCity>
            <rptOwnerState>NV</rptOwnerState>
            <rptOwnerZipCode>89502</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Chief Financial Officer</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2008-05-12</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>15000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0.22</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>191348</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2008-05-14</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>3000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0.22</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>188348</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Stock Options</value>
                <footnoteId id="F6"/>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>.56</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F2"/>
            </exerciseDate>
            <expirationDate>
                <value>2015-07-21</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>100000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>100000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Stock Options</value>
                <footnoteId id="F6"/>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0.50</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F3"/>
            </exerciseDate>
            <expirationDate>
                <value>2017-05-07</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>1000000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1000000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Stock Options</value>
                <footnoteId id="F6"/>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0.41</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F4"/>
            </exerciseDate>
            <expirationDate>
                <value>2010-06-11</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>50000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>50000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Stock Options</value>
                <footnoteId id="F6"/>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0.19</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F5"/>
            </exerciseDate>
            <expirationDate>
                <value>2018-03-31</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>28000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>28000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Shares sold pursuant to a 10b5-1 trading plan adopted on February 29, 2008; filer was notified of sales on 5/19/08.</footnote>
        <footnote id="F2">50,000 shares vest on each of 1/1/06 and 1/1/07.</footnote>
        <footnote id="F3">The option vests in five 200,000 share increments upon the earlier of certain company milestones or such time that the average closing stock price of the Company's common stock over 30 consecrutive trading days is at or above (i) $0.75 per share; (ii) $1.00 per share; (iii) $1.25 per share; (iv) $1.50 per share; and (v) $1.75 per share, respectively.</footnote>
        <footnote id="F4">25,000 shares vest on each of 1/1/2008 and 1/1/2009, subject to acceleration under certain circumstances.</footnote>
        <footnote id="F5">The option vests upon the earlier of certain company milestones and such time that the average closing stock price of the Company's common stock over 10 consecutive trading days is at or above $0.50 per share;</footnote>
        <footnote id="F6">Pursuant to Rule 16b-3 (right to buy).</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ R. William Wilson</signatureName>
        <signatureDate>2008-05-19</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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