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ECR Minerals #ECR – CEO Nick Tulloch talks to Andrew Scott

ECR Minerals #ECR – CEO Nick Tulloch talks to Andrew Scott
✅ Kuboid Hill results
✅ Davey Road results
✅ Funded for work programmes in Victoria & Queensland
✅ Tambo next up
✅ Blue Mountain
✅ Tax losses & cash management

Sharepickers – Alan Green talks about three high risk stocks / high reward stocks with Justin Waite?

Sharepickers – Alan Green talks about three high risk stocks / high reward stocks with Justin Waite. We discuss Spurs v Forest, markets, Harland & Wolff #HARL, new Cathal Friel backed IPO European Green Transition #EGT & ECR Minerals #ECR.

ECR Minerals #ECR COO Mike Whitlow talks to Stockbox

ECR Minerals Begin to Demonstrate the Scale of the Gold Mineralisation at Creswick. COO Mike Whitlow talks to Stockbox.

➡️ The COO emphasizes the importance of demonstrating extensive mineralization over narrow, high-grade shoots as revealed by recent drilling results, marking a significant breakthrough for ECR Minerals in the Creswick area.

➡️Discussion revolves around the potential for small-scale commercial operations based on obtained results, with plans to prove this potential through bulk sampling of anomalous and broad mineralization zones.

➡️Mike stresses the importance of delivering tangible results rather than speculative promises, highlighting the company’s commitment to working hard, ramping up activities, and enhancing shareholder value through strategic planning and asset management.

ECR Minerals #ECR – Creswick drilling results illustrate potentially extensive presence of larger ore bodies

ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to provide additional results from its drilling programme at the Kuboid Hill site in its Creswick tenement.  Significantly, this drilling campaign has demonstrated quartz/gold mineralisation continuity in the Creswick area with results having the hallmarks of a potential future small scale operation.

HIGHLIGHTS

  • Two high grade results of 8.87g/t Au and 8.06g/t Au over 1 metre.
  • Far more significant is the extensive broad mineralisation demonstrated in several holes where contiguous gold is present at 3.05g/t Au over 3 metres, 2.25g/t Au over 4 metres and 1g/t Au over 5 metres.
  • This compares very favourably with historical mining operations elsewhere in Victoria with broad mineralisation where those grades averaged around 0.7 g/t Au.
  • Aggregated 51 metres of mineralized quartz.
  • The drilling returned significant intercepts with evidence of anomalous gold within 14 of the 15 holes drilled.
  • Bulk sample testing at Creswick has indicated in the past both greater prevalence and higher grades of gold and this is being carried out now on the results for Kuboid Hill.

A total of 1,025 metres of reverse circulation drilling was completed at Kuboid Hill on 16 February 2024 (“Kuboid Hill Programme”). This was the second part of an extended reverse circulation drilling programme, following on from an original drilling programme of 522 metres completed at Davey Road where ECR reported a best overall grade gold of 41.03g/t Au (for full details of the results see announcement dated 12 February 2024). The Kuboid Hill Programme was designed to follow up on the Company’s anomalous gold soil sampling campaign that was completed in 2022 which indicated the potential for a broader system which can now be seen in the today’s results. The drilling also tested best practices for first pass drilling evaluation at Creswick where operators have had historical challenges of reporting a representative broad mineralisation gold grade due to the coarse and random nature of gold that is very often present in Central Victoria.

ECR has now received laboratory results for 15 out of the 17 holes drilled at Kuboid Hill, comprising leaching and fire assay. As with the Davey Road analysis, due to the nature of the course gold expected in this region, ECR then utilises dry-blowing and pan concentration on the ‘leftovers’ from the preliminary drilling results to reduce the gold bias and potentially coalesce the overall Au g/t result. These bulk samples results will follow in due course with the results from the final two holes also anticipated very soon. I.

The best individual grades so far are from two holes: 1m @ 8.87g/t Au (hole KHRC001) and 1m @ 8.06g/t Au (hole KHRC016).

Details of current drilling and significant intercepts > 1g/t

HOLEID From (m) To (m) Interval (m) Sample ID Au g/t
KHRC001 9 10 1 CRC1538 8.87
KHRC016 50 51 1 CRC1146 8.06
KHRC012 30 31 1 CRC718 3.11
KHRC010 24 25 1 CRC547 2.23
KHRC009 23 24 1 CRC608 2.18
KHRC007 20 21 1 CRC1183 1.96
KHRC010 23 24 1 CRC546 1.95
KHRC011 27 28 1 CRC789 1.28
KHRC014 42 43 1 CRC853 1.25

However, what is far more significant is the extensive broad mineralisation demonstrated in several holes where contiguous gold is present at 3.05g/t Au over 3 metres, 2.25g/t Au over 4 metres and 1g/t Au over 5 metres. The drilling recorded intercepts greater than 0.5 g/t Au average over a total of 51 metres with the broadest identified mineralised zone being over 15 metres (KHRC010). All intercepts align along strike and dip to the same mineralised zone under Kuboid Hill. Previous drilling campaigns within the Creswick project have only identified narrow veins (often less than 1 metre) and high-grade gold mineralisation styles.

Identified Broad Mineralised Zones with intercepts

HOLEID From (m) To (m) Interval (m) SampleID Au g/t Drilled intercept composite grade
KHRC001 9 10 1 CRC1538 8.87 4m @ 2.41 g/t Au
KHRC001 10 11 1 CRC1539 0.03
KHRC001 11 12 1 CRC1540 0.26
KHRC001 12 13 1 CRC1541 0.46
KHRC006 7 8 1 CRC1218 0.96 4m @ 0.52 g/t Au
KHRC006 8 9 1 CRC1219 0.03
KHRC006 9 10 1 CRC1220 0.63
KHRC006 10 11 1 CRC1221 0.45
KHRC007 19 20 1 CRC1182 0.77 6m @ 0.57 g/t Au
KHRC007 20 21 1 CRC1183 1.96
KHRC007 21 22 1 CRC1184 0.12
KHRC007 22 23 1 CRC1185 0.05
KHRC007 23 24 1 CRC1186 0.32
KHRC007 24 25 1 CRC1187 0.2
KHRC009 17 18 1 CRC601 0.45 8m @ 0.52 g/t Au
KHRC009 18 19 1 CRC602 0.12
KHRC009 19 20 1 CRC604 0.03
KHRC009 20 21 1 CRC605 0.14
KHRC009 21 22 1 CRC606 0.58
KHRC009 22 23 1 CRC607 0.03
KHRC009 23 24 1 CRC608 2.18
KHRC009 24 25 1 CRC609 0.59
KHRC010 20 21 1 CRC543 0.51 15m @ 0.51 g/t Au
KHRC010 21 22 1 CRC544 0.2
KHRC010 22 23 1 CRC545 0.03
KHRC010 23 24 1 CRC546 1.95
KHRC010 24 25 1 CRC547 2.23
KHRC010 25 26 1 CRC548 0.22
KHRC010 26 27 1 CRC549 0.14
KHRC010 27 28 1 CRC550 0.03
KHRC010 28 29 1 CRC551 0.35
KHRC010 29 30 1 CRC552 0.32
KHRC010 30 31 1 CRC553 0.03
KHRC010 31 32 1 CRC554 0.41
KHRC010 32 33 1 CRC555 0.79
KHRC010 33 34 1 CRC556 0.03
KHRC010 34 35 1 CRC557 0.43
KHRC012 27 28 1 CRC715 0.76 5m @ 1.00 g/t Au
KHRC012 28 29 1 CRC716 0.26
KHRC012 29 30 1 CRC717 0.21
KHRC012 30 31 1 CRC718 3.11
KHRC012 31 32 1 CRC719 0.67
KHRC014 42 43 1 CRC853 1.25 3m @ 0.53 g/t Au
KHRC014 43 44 1 CRC854 0.13
KHRC014 44 45 1 CRC855 0.2
KHRC016 46 47 1 CRC1142 0.27 6m @ 1.55 g/t Au
KHRC016 47 48 1 CRC1143 0.03
KHRC016 48 49 1 CRC1144 0.38
KHRC016 49 50 1 CRC1145 0.42
KHRC016 50 51 1 CRC1146 8.06
KHRC016 51 52 1 CRC1147 0.16

Whilst this is still early stage, this drilling campaign at Kuboid Hill is the first time that ECR has demonstrated that broad-scale quartz/gold mineralisation exists in the Creswick area. Also significantly broad mineralisation is also present at shallow vertical depths. This compares very well with historical small-scale commercial mining operations elsewhere in Victoria with similar broad mineralisation where those grades averaged around 0.7 g/t Au (examples being the Bailieston open pit and the Nagambie open pit). Furthermore these previous mines were established when the gold price was much lower than it is today.

Drilling at Kuboid Hill was some 8km west of previous exploration undertaken at Davey Road which is associated with, or close to, the Dimocks Main Shale corridor (“DMS”). Kuboid Hill falls within another parallel mineralised system approximately 8km west of the DMS and shows early signs of the potential to generate a low-grade, bulk tonnage proposition. This is the first type of modern exploration applied within this part of Creswick.

ECR’s next steps are to dry-blow bulk sampling of anomalous and broad mineralisation zones as described above. This follow-on step at Davey Road produced some enhancement of the results there.  These preliminary results from Kuboid Hill took some time to assemble given the extent of mineralisation zones but the Company anticipates the results of the final two drill holes and the bulk sampling will be completed more quickly.  A further announcement will be made in due course.

Mike Whitlow Chief Operating Officer said: “These results point to, what the directors believe is, a significant breakthrough at Creswick where the geological features demonstrate a distinct difference from the challenges historically faced in the region which we have previously understood to be predominated by the sporadic or random nature of coarse nuggety gold.  With this new analysis what we now understand is that Kuboid Hill has a potentially extensive presence of larger ore bodies from much broader quartz/gold mineralised zones. 

“Our Creswick tenement covers a total of 192 square kilometres and investors will be aware that ECR has undertaken a considerable amount of work on our prospects there.  We still have more to do but, importantly, what we can now see is the commercial potential in the aggregated 51 metres of mineralized quartz.  Investors may recall a video released in January of this year featuring our Chairman, Nick Tulloch, and Chief Geologist, Adam Jones, standing in front of the former open pit gold mine just to the north of our Baileston tenement.  To set today’s results in context, that Baileston mine produced approximately 20,000 oz at an average grade of around 0.7g Au/t, and whilst ECR’s Creswick tenement is still early stage, and there can be no guarantee it will produce gold, we consider this indicative of the potential in this area.

“We look forward to reporting our bulk samples shortly and, further to the placing we announced on 14 March 2024, we will shortly finalise and announce our 2024 work programme in Victoria and Queensland.”

REVIEW OF ANNOUNCEMENT BY QUALIFIED PERSON

This announcement has been reviewed by Adam Jones, Chief Geologist at ECR Minerals plc. Adam Jones is a professional geologist and is a Member of the Australian Institute of Geoscientists (MAIG). He is a qualified person as that term is defined by the AIM Note for Mining, Oil and Gas Companies.

FOR FURTHER INFORMATION, PLEASE CONTACT:

 

ECR Minerals plc Tel: +44 (0) 20 7929 1010
Nick Tulloch, Chairman

Andrew Scott, Director

Email:

info@ecrminerals.com

Website: www.ecrminerals.com
WH Ireland Ltd   Tel: +44 (0) 207 220 1666
Nominated Adviser

Katy Mitchell / Andrew de Andrade

Axis Capital Markets Limited Tel: +44 (0) 203 026 0320
Broker
Ben Tadd/Lewis Jones
 
SI Capital Ltd Tel: +44 (0) 1483 413500
Broker
Nick Emerson
Novum Securities Limited  Tel: +44 (0) 20 7399 9425
Broker

Jon Belliss

Brand Communications Tel: +44 (0) 7976 431608
Public & Investor Relations
Alan Green

ECR Minerals #ECR – Annual Report & Audited Financial Accounts for Year Ending 30 September 2023

ECR Minerals plc is pleased to announce its audited financial statements for the twelve months ended 30 September 2023 (“FY 2023”).

Copies of the Annual Report and Accounts for FY2023 with the notice of annual general meeting have been posted to shareholders and are available on the Company’s recently updated website at https://www.ecrminerals.com.

The Company intends to hold its annual general meeting at 11 am on Tuesday April 23rd 2024 at Hurlingham Studios, Ranelagh Gardens, London SW6 3PA.

Below is an extract from comments made by Chairman Nick Tulloch in the Annual Report for the year ending 30 September 2023:

“Despite the challenges thrown at ECR during 2023, we have significantly advanced the value of our assets across the group and, hopefully, as shareholders will observe, our pace of activity has accelerated into 2024. We have made a conscious effort to re-energise our investment case and activity levels are high – and reflected in increasing trading volumes on the stock exchange – so we believe that we have much to look forward to in the coming year. 

It is important to me, and my fellow directors, that our Board is now fully aligned with shareholders through our salary sacrifice and I very much look forward to participating with you all as we aim to deliver transformative value to our shareholders in the coming year.

Finally, my thanks to our shareholders for supporting us. I hope we can offer you further cause for optimism as we seek to streamline operations and costs, while adding value to ECR’s key assets going forward. I look forward to reporting back to you with further progress.”

Nick Tulloch

Chairman

Financial Summary for Year Ending 30 September 2023

For the year to 30 September 2023, the Group recorded a total comprehensive loss attributable to shareholders of the Company of £2,132,769, compared with £2,272,658 for the year to 30 September 2022. The largest contributor to the total comprehensive loss was the administrative expenses.

The Group’s net assets as at 30 September 2023 were £5,012,403 in comparison with £5,849,084 at 30 September 2022.

See below for detailed financial statements

Market Abuse Regulations (EU) No. 596/2014

This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended (“MAR”). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

FOR FURTHER INFORMATION, PLEASE CONTACT:

 

ECR Minerals plc Tel: +44 (0) 20 7929 1010
Nick Tulloch, Chairman

Andrew Scott, Director

Email:

info@ecrminerals.com

Website: www.ecrminerals.com
WH Ireland Ltd   Tel: +44 (0) 207 220 1666
Nominated Adviser

Katy Mitchell / Andrew de Andrade

Axis Capital Markets Limited Tel: +44 (0) 203 026 0320
Broker
Ben Tadd/Lewis Jones
 
SI Capital Ltd Tel: +44 (0) 1483 413500
Broker
Nick Emerson
Novum Securities Limited  Tel: +44 (0) 20 7399 9425
Broker

Jon Belliss

Brand Communications Tel: +44 (0) 7976 431608
Public & Investor Relations
Alan Green

 

ABOUT ECR MINERALS PLC

ECR Minerals is a mineral exploration and development company. ECR’s wholly owned Australian subsidiary Mercator Gold Australia Pty Ltd (“MGA”) has 100% ownership of the Bailieston and Creswick gold projects in central Victoria, Australia, has six licence applications outstanding which includes one licence application lodged in eastern Victoria (Tambo gold project).

ECR also owns 100% of an Australian subsidiary LUX Exploration Pty Ltd (“LUX”) which has three approved exploration permits covering 946 km2 over a relatively unexplored area in Lolworth Range, Queensland, Australia. The Company has also submitted a license application at Kondaparinga which is approximately 120km2 in area and located within the Hodgkinson Gold Province, 80km NW of Mareeba, North Queensland.

Following the sale of the Avoca, Moormbool and Timor gold projects in Victoria, Australia to Fosterville South Exploration Ltd (TSX-V: FSX) and the subsequent spin-out of the Avoca and Timor projects to Leviathan Gold Ltd (TSX-V: LVX), MGA has the right to receive up to A$2 million in payments subject to future resource estimation or production from projects sold to Fosterville South Exploration Limited.  MGA also has approximately A$75 million of unutilised tax losses incurred during previous operations.

ECR holds a 90% interest in the Danglay gold project in the Philippines and a royalty on the SLM gold project in La Rioja Province, Argentina which could potentially receive up to US$2.7 million in aggregate across all licences.

 

Link here to view the full annual report and financial statements

ECR Minerals #ECR – Mike Whitlow and Andrew Scott discuss the £585,000 capital raise

ECR Minerals COO Mike Whitlow discusses the recent fundraise with Andrew Scott. Mike explains the mechanism behind the raise, how two key investors supported and how the money, offered at 0.3p, is a key step towards building a company with a £20-£30m market cap. Mike discusses how the cash will be deployed going forward, and the activities planned on the back of the raise.

ECR Minerals #ECR – Placing to raise £585,000 and Appointment of Joint Broker

ECR Minerals plc (LON:ECR), the exploration and development company focused on gold in Australia, is pleased to announce that it has successfully raised, subject only to Admission, £585,000 before expenses through the placing of 195,000,000 new ordinary shares (“Placing Shares”) at a price of 0.30 pence per Placing Share (the “Placing Price”) (the “Placing“)

The Placing Price represents a discount of approximately 30 per cent. to the closing middle market price of 0.43 pence per Ordinary Share on 13 March 2024, being the latest practicable business day prior to the publication of this Announcement.

The net proceeds from the Placing will be used to advance ECR’s projects in Victoria and Queenland during 2024, specifically:

  • Stream sampling at Baileston, Victoria
  • Reverse Circulation drilling at Tambo, Victoria, where the Company has previously recorded 22g/t rock chips with Silver and Bismuth credits
  • Trenching at Flaggy Creek and Reedy Creek in Lolworth, Queensland – trench across various outcrops followed up with Reverse Circulation drilling
  • Reconnaissance for Niobium REE and Gold in streams over eastern tenements in Lolworth, Queensland where geological mapping suggests the presence of pegmatite intrusion that covers approximately 45km2

Mike Whitlow, Chief Operating Officer said: “This fundraising is a significant achievement for ECR, coming at a more than 70% premium to our raise last September.  We are now fully funded for our 2024 exploration programme.  With our ongoing payments for the rig sale covering our G&A expenses, and our continued policy of settling supplier fees through the issue of shares, where possible, we have a strong balance sheet and believe we are well positioned to take advantage of any future opportunities that may arise.”

Appointment of joint broker and Issue of Equity

ECR is also pleased to announce the appointment of Axis Capital Markets Limited (“Axis Capital”) as joint broker to the Company with immediate effect.  Axis Capital facilitated the Placing for the Company. The Company has agreed to issue and allot 4,000,000 new ordinary shares in lieu of £12,000 of fees due to Axis Capital as joint broker in order to assist the Company in conserving its cash resources (the “Axis Shares”). These shares have been issued at the placing price of 0.30 pence.

In addition, the Company has also elected (as it is entitled to pursuant to the terms of the agreement) to issue and allot 8,333,333 new ordinary shares in lieu of £25,000 of fees owed by the Company to a third party supplier, also in order to assist the Company in conserving its cash resources (the “Supplier Shares”). These shares have also been issued at the placing price of 0.30 pence.

Admission and Disclosure and Transparency Rules

Application will be made for the Placing Shares, the Axis Shares and the Supplier Shares (a total of 207,333,333 Ordinary Shares) to be admitted to trading on AIM (“Admission”) and it is expected that Admission will become effective on or around 8 April 2024. The Placing Shares, Axis Shares and Supplier Shares will rank pari passu with the existing ordinary shares in the Company.

Upon Admission, ECR’s issued ordinary share capital will comprise 1,826,420,093 ordinary shares of 0.001p. This number will represent the total voting rights in the Company, and, following admission may be used by shareholders as the denominator for the calculation by which they can determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority’s Disclosure and Transparency Rules.

FOR FURTHER INFORMATION, PLEASE CONTACT: 

ECR Minerals plc Tel: +44 (0) 20 7929 1010
Nick Tulloch, Chairman

Andrew Scott, Director

Email:

info@ecrminerals.com

Website: www.ecrminerals.com
WH Ireland Ltd   Tel: +44 (0) 207 220 1666
Nominated Adviser

Katy Mitchell / Andrew de Andrade

Axis Capital Markets Limited Tel: +44 (0) 203 026 0320
Broker
Ben Tadd/Lewis Jones
 
SI Capital Ltd Tel: +44 (0) 1483 413500
Broker
Nick Emerson
Novum Securities Limited  Tel: +44 (0) 20 7399 9425
Broker

Jon Belliss

Brand Communications Tel: +44 (0) 7976 431608
Public & Investor Relations
Alan Green

ABOUT ECR MINERALS PLC

ECR Minerals is a mineral exploration and development company. ECR’s wholly owned Australian subsidiary Mercator Gold Australia Pty Ltd (“MGA”) has 100% ownership of the Bailieston and Creswick gold projects in central Victoria, Australia, has six licence applications outstanding which includes one licence application lodged in eastern Victoria (Tambo gold project).

ECR also owns 100% of an Australian subsidiary LUX Exploration Pty Ltd (“LUX”) which has three approved exploration permits covering 946 km2 over a relatively unexplored area in Lolworth Range, Queensland, Australia. The Company has also submitted a license application at Kondaparinga which is approximately 120km2 in area and located within the Hodgkinson Gold Province, 80km NW of Mareeba, North Queensland.

Following the sale of the Avoca, Moormbool and Timor gold projects in Victoria, Australia to Fosterville South Exploration Ltd (TSX-V: FSX) and the subsequent spin-out of the Avoca and Timor projects to Leviathan Gold Ltd (TSX-V: LVX), MGA has the right to receive up to A$2 million in payments subject to future resource estimation or production from projects sold to Fosterville South Exploration Limited.  MGA also has approximately A$75 million of unutilised tax losses incurred during previous operations.

ECR holds a 90% interest in the Danglay gold project in the Philippines and a royalty on the SLM gold project in La Rioja Province, Argentina which could potentially receive up to US$2.7 million in aggregate across all licences.

ECR Minerals #ECR – Issue of Equity and Total Voting Rights. PDMR Dealing

ECR Minerals plc (LON:ECR), the exploration and development company focused on gold in Australia, is pleased to confirm that the new ordinary shares awarded to Nick Tulloch, managing director, and Mike Whitlow, chief operating officer pursuant to their remuneration arrangements announced on 19 September 2023 have been issued and allotted.  Accordingly, each of Nick Tulloch and Mike Whitlow have received 9,698,275 new ordinary shares, in lieu of £22,500 of their remuneration for the period 15 December 2023 to 14 March 2024, at a price of 0.232p per share.

The total ordinary shares in ECR Minerals currently held by Nick and Mike, as PDMRs of the Company, are as follows:

Name Shares in the Company Issued today Total Shares in the Company now held Percentage of the Company’s issued equity held
Nick Tulloch 9,698,275 22,555,417 1.39%
Mike Whitlow 9,698,275 22,555,417 1.39%
Total 19,396,550

Additional Issue of Equity

At the same time, the Company has agreed to issue and allot 2,307,692 new ordinary shares in lieu of £6,000 of fees owed by the Company in order to assist the Company in conserving its cash resources. These shares have been issued at a price of 0.26p, which was the volume weighted average price for ECR Mineral’s ordinary shares over the 14 trading days prior to the date of the invoice.

Admission and Disclosure and Transparency Rules

Application has been made for 21,704,242 new ordinary shares to be admitted to trading on AIM (“Admission”) and it is expected that Admission will become effective on or around 15 March 2024. The new ordinary shares will rank pari passu with the existing ordinary shares. Upon Admission, ECR’s issued ordinary share capital will comprise 1,619,086,760 ordinary shares of 0.001p. This number will represent the total voting rights in the Company, and, following admission may be used by shareholders as the denominator for the calculation by which they can determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority’s Disclosure and Transparency Rules.

FOR FURTHER INFORMATION, PLEASE CONTACT: 

ECR Minerals plc Tel: +44 (0) 20 7929 1010
Nick Tulloch, Chairman

Andrew Scott, Director

Email:

info@ecrminerals.com

Website: www.ecrminerals.com
WH Ireland Ltd   Tel: +44 (0) 207 220 1666
Nominated Adviser

Katy Mitchell / Andrew de Andrade

SI Capital Ltd Tel: +44 (0) 1483 413500
Broker
Nick Emerson
Novum Securities Limited  Tel: +44 (0) 20 7399 9425
Broker

Jon Belliss

Brand Communications Tel: +44 (0) 7976 431608
Public & Investor Relations
Alan Green

ABOUT ECR MINERALS PLC

ECR Minerals is a mineral exploration and development company. ECR’s wholly owned Australian subsidiary Mercator Gold Australia Pty Ltd (“MGA”) has 100% ownership of the Bailieston and Creswick gold projects in central Victoria, Australia, has six licence applications outstanding which includes one licence application lodged in eastern Victoria (Tambo gold project).

ECR also owns 100% of an Australian subsidiary LUX Exploration Pty Ltd (“LUX”) which has three approved exploration permits covering 946 km2 over a relatively unexplored area in Lolworth Range, Queensland, Australia. The Company has also submitted a license application at Kondaparinga which is approximately 120km2 in area and located within the Hodgkinson Gold Province, 80km NW of Mareeba, North Queensland.

Following the sale of the Avoca, Moormbool and Timor gold projects in Victoria, Australia to Fosterville South Exploration Ltd (TSX-V: FSX) and the subsequent spin-out of the Avoca and Timor projects to Leviathan Gold Ltd (TSX-V: LVX), MGA has the right to receive up to A$2 million in payments subject to future resource estimation or production from projects sold to Fosterville South Exploration Limited.  MGA also has approximately A$75 million of unutilised tax losses incurred during previous operations.

ECR holds a 90% interest in the Danglay gold project in the Philippines and a royalty on the SLM gold project in La Rioja Province, Argentina which could potentially receive up to US$2.7 million in aggregate across all licences

Alan Green covers Cobra Resources #COBR, Metals One #MET1 & ECR Minerals #ECR on this week’s Stockbox Research Talks

Alan Green covers Cobra Resources #COBR, Metals One #MET1 & ECR Minerals #ECR on this week’s Stockbox Research Talks

ECR Minerals #ECR – Board Changes

ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, announces that David Tang has stepped down as Chairman of the Company and Nick Tulloch has been appointed Chairman in his place, in addition to his role as Executive Director of the Company. David Tang will remain on the board as a non-executive director.

David Tang, Non-Executive Director, said: “I suggested to the board that the time was right for me to hand over the chairmanship of our Company and, with the endorsement of the other non-executive directors, I have asked Nick to take on the role.  We have spoken a lot about the change in pace and change in approach since Nick and Mike joined ECR last September and I am sure it is apparent to investors that it is Nick and Mike leading the strategic direction of the Company and liaising with our counterparties.  I am delighted that Nick has accepted this role at ECR.”

Nick Tulloch, Chairman, said: “My thanks to David who has led ECR through a very challenging period with great diligence and commitment.  I was honoured that he asked me to take over as Chairman.  We have been implementing a number of changes to ECR in recent months and there is still a great deal to accomplish.  As we move into this next phase, I am pleased that we will continue to benefit from David’s wise counsel and detailed knowledge of our operations.”

The Directors recognise that Nick Tulloch’s appointment as Chairman alongside his ongoing responsibilities as an executive director is not in line with the QCA Corporate Governance Code but consider that given the current size and stage of development of ECR, and Nick’s experience, it is in the best interests of all stakeholders for him to take up this position. The Directors further note that a considerable amount of the operational responsibilities of the Company are carried out by Mike Whitlow, COO.  At the same time, Trevor Davenport has been appointed Senior Independent Director of the Company.

FOR FURTHER INFORMATION, PLEASE CONTACT:

ECR Minerals plc   Tel: +44 (0) 20 7929 1010  
Nick Tulloch, Chairman

Andrew Scott, Director

     
       
Email:

info@ecrminerals.com

     
Website: www.ecrminerals.com      
       
WH Ireland Ltd   Tel: +44 (0) 207 220 1666  
Nominated Adviser

Katy Mitchell / Andrew de Andrade

     
       
SI Capital Ltd   Tel: +44 (0) 1483 413500  
Broker      
Nick Emerson      
       
Novum Securities Limited    Tel: +44 (0) 20 7399 9425  
Broker

Jon Belliss

     
       
Brand Communications   Tel: +44 (0) 7976 431608  
Public & Investor Relations      
Alan Green      

ABOUT ECR MINERALS PLC

ECR Minerals is a mineral exploration and development company. ECR’s wholly owned Australian subsidiary Mercator Gold Australia Pty Ltd (“MGA”) has 100% ownership of the Bailieston and Creswick gold projects in central Victoria, Australia, has eight active exploration tenements and two in application (Ballarat and Tambo).

ECR also owns 100% of an Australian subsidiary LUX Exploration Pty Ltd (“LUX”), which has three approved exploration permits covering 946 km2 over a relatively unexplored area in Lolworth Range, Queensland, Australia. The Company has also submitted a license application at Kondaparinga which is approximately 120km2 in area and located within the Hodgkinson Gold Province, 80km NW of Mareeba, North Queensland.

Following the sale of the Avoca, Moormbool and Timor gold projects in Victoria, Australia to Fosterville South Exploration Ltd (TSX-V: FSX) and the subsequent spin-out of the Avoca and Timor projects to Leviathan Gold Ltd (TSX-V: LVX), Mercator Gold Australia Pty Limited has the right to receive up to A$2 million in payments subject to future resource estimation or production from projects sold to Fosterville South Exploration Limited.

ECR holds a 90% interest in the Danglay gold project; an advanced exploration project located in a prolific gold and copper mining district in the north of the Philippines, which has a 43-101 compliant resource. ECR also holds a royalty on the SLM gold project in La Rioja Province, Argentina and can potentially receive up to US$2.7 million in aggregate across all licences.

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