Keep heading up the hill on your bike into the valley, you'll see a little waterfall in it up ahead. The road turns to cobblestones for a while as it goes into the valley and then cuts back to your left to start the climb. The climb took us close to 2 hours; it's pretty steep with no breaks. When you get near the top, where it starts to flatten out, look for any of a couple new trails off to your left, that continue up towards the top. One of them is just in front of a very muddy section and a gate; that's the second one. Keep heading to the top of the hill, where you'll hit a road that heads right up the antenas past a cute little church (very picturesque, well worth photographing, it's totally desolate up there other than that), or left down into a shallow valley. If you go right, you can get to the antenas (be careful at the little hut on the left; there were several dogs there, and our way back a 5 year old holding an huge, ancient shotgun...). If you go right into the valley, there's a long straight downhill, then the road can either go left to the second set of antenas, or down to the right towards San Juan de Chillogallo, another access route to this area (watch this space for a trail description of that way in). Return the way you came; the downhill is awesome, very fast, lots of twists and technical sections.
From town, head south along Avenida Occidental, through the south end of town. At a roundabout where you can head left to get to the Panamericana, keep heading south, towards La Ecuatoriana. Just before you get to La Ecuatoriana, there is a road going right off the main highway with speedbumps immediately before and after it. Head right on this road. Near the top, it turns to gravel, and at one point there's a Y. The main branch of the Y goes left, on a very wide gravel road (that will someday be paved, as they're developing this area). Keep going up the hill until the road gets narrow and hard to drive up in a normal vehicle; park here.