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ECR Minerals #ECR – Institutional investor increases participation with additional £0.25m investment
ECR Minerals plc (LON: ECR), the gold exploration and development company focused on Australia, announces that further to its announcement on 10 August 2026 regarding ECR’s placing to raise £636,250 (the “Fundraising”), the Company has received further interest from an institutional investor to participate in the Fundraising on the same terms.
As such, the Company is pleased to announce that it has conditionally raised a further £250,000, through the issue of an additional 142,857,142 new ordinary shares of 0.001 pence each (the “Additional Placing Shares”). The Additional Placing Shares will, when issued and fully paid, rank pari passu in all respects with the existing ordinary shares of 0.001 pence each in issue (“Ordinary Shares”) and therefore will rank equally for all dividends or other distributions declared, made or paid after the issue of the Additional Placing Shares.
The net proceeds raised from the issue of the Additional Placing Shares will be used for the same purposes as the net proceeds raised from the Fundraising as set out in the Company’s announcement of 10 August 2026.
Accordingly, a total of 506,428,572 new Ordinary Shares will now be issued pursuant to the Fundraising, raising total gross proceeds of £886,250.00.
Investor warrants and broker warrants
An additional 142,857,142 warrants have been issued to the subscriber, exercisable on the same terms as the warrants issued pursuant to the Fundraising. In aggregate 506,428,572 warrants have been issued pursuant to the Fundraising.
In connection with the Additional Placing Shares, the Company has also issued 2,857,142 Broker Warrants (as defined in the announcement on 10 August 2026). In aggregate 10,128,570 Broker Warrants have been issued pursuant to the Fundraising.
Admission and Total Voting Rights
An application has been made to London Stock Exchange plc (“London Stock Exchange”) for the 506,428,572 new Ordinary Shares to be admitted to trading on AIM, a market operated by the London Stock Exchange (“Admission”) and it is currently anticipated that Admission will become effective, and that dealings in the new Ordinary Shares will commence on AIM, at 8.00 a.m. on or around 14 August 2026. Completion of the Fundraising is conditional on Admission.
Upon Admission, the Company’s issued ordinary share capital will consist of 4,107,918,966 Ordinary Shares with one voting right each. The Company does not hold any Ordinary Shares in treasury. Therefore, from Admission the total number of Ordinary Shares and voting rights in the Company will be 4,107,918,966. With effect from Admission, this figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA’s Disclosure Guidance and Transparency Rules.
Nick Tulloch, ECR’s Chairman, commented: “We are delighted to have received this additional support from an institutional investor, increasing the size of the Fundraising to £886,250. We believe this further investment reflects growing confidence in both the progress that we are making at the Maddens Gold Project and our strategy of building a diversified Australian gold company centred on near-term production.
“Our strengthened balance sheet allows us to further accelerate underground development at Maddens, advance trial mining at Brothers and continue exploring what we believe is a highly prospective and underexplored goldfield. With production expected to commence later this year and a strong pipeline of operational milestones ahead, we are entering a particularly exciting period for ECR and we look forward to keeping shareholders updated as we continue to deliver on our strategy.”
FOR FURTHER INFORMATION, PLEASE CONTACT:
| ECR Minerals plc | Tel: +44 (0) 20 8080 8176 | ||
| Nick Tulloch, Chairman
Andrew Scott, Director |
info@ecrminerals.com | ||
| Website: www.ecrminerals.com | |||
| Allenby Capital Limited | Tel: +44 (0) 20 3328 5656 | ||
| Nominated Adviser and Joint Broker
Alex Brearley / Vivek Bhardwaj / Nick Naylor (Corporate Finance) Kelly Gardiner (Sales and Corporate Broking)
|
info@allenbycapital.com
|
||
| OAK Securities
Joint Broker Jerry Keen / Robert Bell
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Tel: +44 (0) 20 3973 3678 | ||
| Axis Capital Markets Limited | Tel: +44 (0) 20 3026 0320 | ||
| Joint Broker | |||
| Lewis Jones | |||
| SI Capital Ltd | Tel: +44 (0) 1483 413500 | ||
| Joint Broker | |||
| Nick Emerson / Keith Swann
|
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| Brand Communications | Tel: +44 (0) 7976 431608 | ||
| Public & Investor Relations | |||
| Alan Green | |||
ECR Minerals #ECR – Placing to raise c. £0.6 million to accelerate Maddens Gold Project towards production
Visible gold, underground development and trial mining programme underpins next phase of operations
ECR Minerals plc (LON: ECR), the gold exploration and development company focused on Australia, announces that it has conditionally raised £636,250 (before expenses) by way of a placing with existing shareholders and other investors (the “Fundraising”) of a total of 363,571,430 new ordinary shares of 0.001 pence each in the Company (“Ordinary Shares”) at a price of 0.175 pence per new Ordinary Share (the “Issue Price”).
The Directors intend that the majority of the net proceeds of the Fundraising will be used to advance ECR’s Maddens gold project in Northern Queensland (the “Maddens Gold Project”). ECR has a 50% interest in the Maddens Gold Project. As previously announced by ECR, the Company has advanced several operational and technical workstreams for the development of the Maddens Gold Project, which the Board considers to be ECR’s highest-priority gold production opportunity. These activities span underground mine development (the “Maddens Underground Mine”), geological evaluation, processing plant enhancements and preparations for trial alluvial mining, reflecting ECR’s strategy of establishing multiple gold production opportunities from a single operating hub.
Specifically the net proceeds of the Fundraising will be applied to:
- ongoing development of the Maddens Underground Mine, where an additional mineralised quartz vein containing visible gold has been identified;
- supporting production of gold extracted from the Maddens Underground Mine, with ore already being stockpiled on the run-of-mine (“ROM”) pad ahead of future processing;
- trial alluvial mining within the Brothers Mining Lease area, an area which has already shown encouraging prospecting results, following the redeployment of equipment from Raglan; and
- further exploration work over the Maddens Gold Project, following the recently completed Light Detection and Ranging (“LiDAR”) survey, with preliminary interpretation indicating potential extensions of the Maddens mineralised system towards the historic Sisters Mine.
The Directors also intend to apply a portion of the net proceeds of the Fundraising towards ECR’s general corporate and working capital requirements. Following completion of the Fundraising, the Board believes the Company will be well funded to execute its planned operational programmes for this year, including advancing the Maddens Gold Project towards production during 2026, while retaining flexibility to pursue additional opportunities as they arise.
Over the medium term, the Directors believe that if there is successful gold production from the Maddens Gold Project, this has the potential to fund a significant proportion of the Company’s corporate overheads while supporting further exploration and development across ECR’s wider Australian portfolio.
The Fundraising follows a series of recent operational milestones at the Maddens Gold Project, including continued underground mine development, identification of a second mineralised quartz vein containing visible gold, stockpiling of ore ahead of processing and completion of a LiDAR survey that has highlighted further exploration potential across the project area. The Board believes these developments provide a strong platform as the Company advances towards production at the Maddens Underground Mine.
Details of the Fundraising
The Company has conditionally raised £636,250 (before expenses) through the Fundraising through the issue of 363,571,430 new Ordinary Shares at the Issue Price. The new Ordinary Shares will be issued on a non-pre-emptive basis pursuant to the authorities granted to the Board at the Company’s annual general meeting held on 27 March 2026.
The new Ordinary Shares, when issued and fully paid, will rank pari passu in all respects with the existing Ordinary Shares in issue and therefore will rank equally for all dividends or other distributions declared, made or paid after the issue of the new Ordinary Shares.
The Issue Price represents a discount of 12.5 per cent. to the closing middle market price of 0.20 pence per Ordinary Share on 7 August 2026, being the latest business day prior to the announcement of the Fundraising.
SI Capital Limited (“SI Capital”) acted as the Company’s broker in connection with the Fundraising.
Investor warrants and broker warrants
For every new Ordinary Share issued pursuant to the Fundraising, subscribers will receive one warrant allowing the holder to subscribe for an additional new Ordinary Share in the Company at an exercise price of 0.30 pence per Ordinary Share, exercisable within three years of Admission. In aggregate 363,571,430 warrants have been issued pursuant to the Fundraising. The warrants will not be tradeable, nor transferable or CREST-enabled.
In connection with the Fundraising, the Company will issue, on completion of the Fundraising, 7,271,428 warrants to SI Capital (the “Broker Warrants”). Each Broker Warrant entitles SI Capital to acquire one new Ordinary Share exercisable at the Issue Price. The Broker Warrants are exercisable at any time until the third year anniversary of Admission. The Broker Warrants will not be tradeable, nor transferable or CREST-enabled.
Admission and Total Voting Rights
An application will be made to London Stock Exchange plc (“London Stock Exchange”) for the 363,571,430 new Ordinary Shares to be admitted to trading on AIM, a market operated by the London Stock Exchange (“Admission”) and it is currently anticipated that Admission will become effective, and that dealings in the new Ordinary Shares will commence on AIM, at 8.00 a.m. on or around 14 August 2026. Completion of the Fundraising is conditional on Admission.
Upon Admission, the Company’s issued ordinary share capital will consist of 3,965,061,824 Ordinary Shares with one voting right each. The Company does not hold any Ordinary Shares in treasury. Therefore, from Admission the total number of Ordinary Shares and voting rights in the Company will be 3,965,061,824. With effect from Admission, this figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA’s Disclosure Guidance and Transparency Rules.
Nick Tulloch, ECR’s Chairman, commented: “Since ECR’s acquisition of Paleogold in May this year, it has become increasingly apparent that the Maddens Gold Project represents the most exciting prospect in ECR’s portfolio. With visible gold now apparent in the Maddens Underground Mine, we are expecting production to commence later this year. With the Maddens Underground Mine having historically produced at grades of up to 25g/tonne, there is every reason to be optimistic about how this could be transformational for ECR.
“The Board is always sensitive to shareholder dilution but the potential opportunities at the Maddens Gold Project are too significant to not advance. The additional capital at our disposal will support both production plans at the Maddens Underground Mine and trial alluvial mining at the Brothers Mining Lease area, as well as continuing our exploration of the wider area. To date there has been no systematic exploration across the tenement, and as such, we consider that there is significant upside potential across the Maddens Gold Project beyond the production opportunities already identified.”
FOR FURTHER INFORMATION, PLEASE CONTACT:
| ECR Minerals plc | Tel: +44 (0) 20 8080 8176 | ||
| Nick Tulloch, Chairman
Andrew Scott, Director |
info@ecrminerals.com | ||
| Website: www.ecrminerals.com | |||
| Allenby Capital Limited | Tel: +44 (0) 20 3328 5656 | ||
| Nominated Adviser and Joint Broker
Alex Brearley / Vivek Bhardwaj / Nick Naylor (Corporate Finance) Kelly Gardiner (Sales and Corporate Broking)
|
info@allenbycapital.com
|
||
| OAK Securities
Joint Broker Jerry Keen / Robert Bell
|
Tel: +44 (0) 20 3973 3678 | ||
| Axis Capital Markets Limited | Tel: +44 (0) 20 3026 0320 | ||
| Joint Broker | |||
| Lewis Jones | |||
| SI Capital Ltd | Tel: +44 (0) 1483 413500 | ||
| Joint Broker | |||
| Nick Emerson / Keith Swann
|
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| Brand Communications | Tel: +44 (0) 7976 431608 | ||
| Public & Investor Relations | |||
| Alan Green | |||
ECR Minerals #ECR advances development of Maddens and Brothers towards gold production
ECR Minerals plc (AIM: ECR), the Australian gold exploration and development company, is pleased to provide an operational update on development and upcoming production-related activities across the Maddens and Brothers mining operations within the Maddens Gold Project at the Maddens Flat Group of Mines in Queensland. ECR has a 50% interest in the Maddens Gold Project.
The Company has advanced several operational and technical workstreams for the development of the Maddens Gold Project, which the Board considers to be one of ECR’s highest-priority gold production opportunities. These activities span underground mine development, geological evaluation, processing plant enhancements and preparations for trial alluvial mining, reflecting ECR’s strategy of establishing multiple gold production opportunities from a single operating hub.
Highlights
· Underground development at the Maddens Underground Mine has identified an additional mineralised quartz vein containing visible gold, with ore now being stockpiled on the Run-of-Mine (“ROM”) pad ahead of future processing.
· Development of the Maddens Underground Mine continues to advance, with the next phase of the development of the decline (the downwards tunnel to access the ore body) expected to commence shortly.
· Installation of a Knelson gravity concentrator expected in the coming weeks, supporting enhanced gravity gold recovery as the Maddens Gold Project progresses towards production.
· Operational personnel and equipment continue to be mobilised to the Brothers Mining Lease area following the strategic redeployment from Raglan, with encouraging prospecting results supporting the planned trial alluvial mining programme.
· Recently completed LiDAR (Light Detection and Ranging) survey enhances geological understanding of the Maddens Gold Project, with preliminary interpretation indicating potential extensions of the Maddens mineralised system towards the historic Sisters Mine.
· Multiple operational, geological and processing workstreams advancing in parallel as ECR progresses the leading areas within the Maddens Gold Project towards gold production.
Advancing the Maddens Gold Project
When ECR completed the acquisition of the Paleogold assets earlier this year, the Board identified the Maddens Gold Project as one of the Company’s highest-priority development opportunities.
The Maddens Gold Project comprises the historic Maddens Flat Group of Mines, including the Maddens and Brothers mining operations, which form part of a group of seven mining leases, including processing infrastructure and significant exploration upside across the wider project areas. The Board believes that the combination of established infrastructure, multiple historic mining centres and nearer-term production opportunities provides ECR with a strong platform from which to develop a long-term gold production business in North Queensland.
Following the strategic decision announced in July 2026 to redeploy operational personnel and equipment from Raglan to Brothers, the Company has focused its efforts on advancing both the Maddens underground mine and the proposed Brothers alluvial operation, through a coordinated programme of mine development, geological evaluation, processing plant preparation and operational mobilisation.
ECR is advancing multiple workstreams simultaneously, ensuring underground mine development at the Maddens Underground Mine, processing plant readiness and trial mining preparations continue in parallel as the Company moves towards gold production.
Underground Development at Maddens
Underground development continues to progress at the Maddens Underground Mine, with preparations well advanced for the commencement of the next phase of the development of the decline (the downwards tunnel to access the ore body), which is expected to begin shortly.
As development has progressed, the Company’s technical team has intersected a separate mineralised quartz vein containing visible gold. Initial geological interpretation indicates that the structure may represent a distinct mineralised vein separate from the main Maddens Reef and will form part of the Company’s ongoing geological evaluation programme.
Importantly, underground development is now generating ore, with material currently being stockpiled on the Company’s ROM pad ahead of processing.
The Board believes that this represents an important milestone in the Company’s progression from mine development towards gold production, while simultaneously providing additional geological information that continues to improve understanding of the broader mineralised system underlying the Maddens Gold Project.
Geological Evaluation Strengthens Confidence
Alongside underground development, ECR has continued to enhance its understanding of the broader Maddens Gold Project through the application of modern geological techniques.
The recently completed LiDAR (Light Detection and Ranging) survey has now been received by the Company’s technical team and is being incorporated into ongoing geological interpretation and mine planning. Preliminary assessment has identified features considered prospective for potential extensions of the Maddens Underground Mine’s mineralised system towards the historic Sisters Mine.
These observations will be evaluated alongside geological information being generated through underground development and structural mapping, providing an increasingly detailed understanding of the Maddens Gold Project’s overall mineralised architecture.
The Board believes that the combination of modern geological interpretation and historical mining data continues to strengthen confidence in the broader prospectivity of the Maddens Gold Project and supports the Company’s long-term development strategy.
Brothers Development Programme
Preparations continue to advance trial alluvial operations at the Brothers Mining Lease following the strategic decision announced in July 2026 to redeploy operational personnel and processing equipment from Raglan.
The Board believes that parts of the Brothers Mining Lease area represent an attractive near-term alluvial gold production opportunity that complements the underground development programme at the Maddens Underground Mine and will form an integral part of the development potential at the wider Maddens Gold Project.
Operational personnel continue to be mobilised to site while preparations for trial alluvial mining progress. At the same time, ongoing prospecting has continued to produce encouraging results around the Brothers Mining Lease area, reinforcing management’s confidence in both the alluvial opportunity and the potential for additional hard-rock mineralisation associated with the historic workings.
The Company believes that the parallel advancement of the Maddens Underground Mine and the opportunities at the Brothers Mining Lease area provides the potential to establish complementary underground and alluvial production streams supported by common infrastructure and operational expertise.
Processing Plant Preparation
Alongside mine development activities, ECR continues preparations to enhance processing capability at the Maddens Gold Project.
A Knelson gravity concentrator is expected to arrive on site in the coming weeks and will be installed by the Company’s technical team to improve gravity gold recovery from future processing campaigns. The processing plant upgrade complements the Company’s operational progress at the Maddens Underground Mine, where ore generated during development is now being stockpiled on the ROM pad ahead of processing.
By progressing mine development and processing plant readiness simultaneously, the Company continues to advance the key parts of the Maddens Gold Project towards operational readiness.
Operational Priorities
During the third quarter of 2026, ECR expects to continue progressing a number of important operational milestones across the Maddens Gold Project, including:
· Commencement of the next phase of decline development at Maddens.
· Installation and commissioning of the Knelson gravity concentrator.
· Commencement of processing of ore generated during underground development.
· Continued geological assessment of the newly identified mineralised quartz vein.
· Ongoing interpretation of the LiDAR survey and assessment of potential extensions to the Maddens mineralised system.
· Continued operational mobilisation and commencement of trial alluvial mining activities at Brothers.
Mike Parker, Non-Executive Director, commented: “One of the most exciting aspects of our recent work is seeing the geological model continue to evolve as underground development progresses. Every metre of development not only moves us closer to production but may also provide valuable geological information that improves our understanding of the overall Maddens Gold Project.
“The identification of a separate mineralised quartz vein during development, together with the early interpretation of our recently completed LiDAR survey, suggests that there is still considerable potential to expand our understanding of the mineralised system beyond the historically mined areas. While further work is required, these are exactly the types of observations we had hoped to see as we systematically develop the project.
“Perhaps, most importantly, our focus is now firmly on execution. Underground development is generating ore for future processing, preparations for the next phase of decline development are well advanced and upgrades to the processing plant continue. Collectively, these activities represent important steps towards bringing the Maddens Gold Project into production.”
Nick Tulloch, ECR Chairman, added: “When we completed the Paleogold acquisition, we made it clear that the Maddens Gold Project would become one of ECR’s highest strategic priorities. Today’s update demonstrates our focus on delivering on that commitment.
“Over recent months we have deliberately redirected people, equipment and technical expertise towards Maddens and Brothers because we believe these assets represent some of the most compelling nearer-term development opportunities within our portfolio. Importantly, investors can now see multiple workstreams progressing simultaneously – from underground mine development and geological evaluation through to processing plant upgrades and preparations for trial alluvial mining.
“This is exactly how we intend to build ECR. Through disciplined execution, sensible capital allocation and a clear focus on projects that we believe are ultimately capable of delivering meaningful shareholder value. There remains much work ahead, but the progress being made across the Maddens Gold Project gives the Board increasing confidence in its potential to become a significant cornerstone asset within ECR’s Australian gold portfolio.”
Review of Announcement by Qualified Person
This announcement has been reviewed by Michael Parker, Non-Executive Director of ECR Minerals Plc. Michael Parker has a BSc. in Mining Geology and is a professional geologist and is a Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM). 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:
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ECR Minerals Plc |
Tel: +44 (0) 20 8080 8176 |
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Nick Tulloch, Chairman Andrew Scott, Director |
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Website: www.ecrminerals.com |
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Allenby Capital Limited |
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Tel: +44 (0) 20 3328 5656 |
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Nominated Adviser and Joint Broker Alex Brearley / Nick Naylor / Vivek Bhardwaj (Corporate Finance) Kelly Gardiner (Sales and Corporate Broking)
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OAK Securities Joint Broker Jerry Keen / Robert Bell
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Tel: +44 (0) 20 3973 3678 |
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Axis Capital Markets Limited |
Tel: +44 (0) 20 3026 0320 |
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Joint Broker |
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Lewis Jones |
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SI Capital Ltd |
Tel: +44 (0) 1483 413500 |
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Joint Broker |
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Nick Emerson
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Brand Communications |
Tel: +44 (0) 7976 431608 |
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Public & Investor Relations |
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Alan Green |
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ABOUT ECR MINERALS PLC
ECR Minerals is a mineral exploration and development company operating through four wholly owned Australian subsidiaries ECR Minerals (Australia) Pty Ltd (“ECR Australia”), ECR Minerals (Queensland) Pty Ltd (“ECR Queensland”), ECR Minerals (Raglan) Pty Ltd (“ECR Raglan”) and ECR Minerals (Paleogold) Ltd (“ECR Paleogold”).
ECR Paleogold has a 50% interest in the Maddens Gold Project in Northern Queensland, which includes the Underground Mine where work is underway for production this year. It also has a 20% interest in the Salt Bush shallow open cut mining project in South Australia where preparations are underway for production which is expected to commence around mid-2027. ECR Paleogold also owns 80% of the Tuckanarra exploration project in Western Australia.
ECR Australia owns the Bailieston and Creswick gold projects in central Victoria, Australia as well as the Tambo gold project in eastern Victoria.
ECR Raglan has a mining lease at the Raglan alluvial gold project in central Queensland, Australia and ECR Queensland has two approved exploration permits over the nearby Blue Mountain alluvial gold project. The Raglan project is in an initial production phase and ECR is currently working to bring the Blue Mountain alluvial gold project into production. ECR Queensland also has three approved exploration permits covering 946 km2 over a relatively unexplored area in Lolworth Range in northern Queensland. Furthermore, it has also submitted a licence application at Kondaparinga which is approximately 120 km2 in area and located within the Hodgkinson Gold Province, 80 km 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), ECR Australia has the right to receive up to A$2 million in payments subject to future resource estimation or production from these projects.
ECR Australia also has approximately A$77 million of unutilised tax losses incurred during previous operations.
ECR Minerals #ECR – ECR to advance Tuckanarra exploration through major reconnaissance programme. Large-scale campaign expected to accelerate target generation, with first phase at no additional direct cost to ECR
ECR Minerals plc (AIM: ECR), the Australian-focused gold exploration and development company, is pleased to announce the commencement of a major multi-phase reconnaissance mapping and target-generation programme across its 80%-owned Tuckanarra Gold Project in Western Australia (the “Tuckanarra Project”).
Located adjacent to Odyssey Gold Ltd’s reported 407,000-ounce JORC gold resource, the Board considers that Tuckanarra represents one of the Company’s most prospective exploration assets, with potential for both primary gold mineralisation and paleochannel-hosted gold discoveries.
The programme will be undertaken in collaboration with the Australian Prospectors and Leaseholders Association (“APLA”), with members conducting systematic reconnaissance across the project. The programme is expected to generate extensive geological observations and exploration data, with the first phase being undertaken at no additional direct cost to the Company.
Highlights
- One of the largest reconnaissance mapping and target-generation programmes ever undertaken at the Tuckanarra Project.
- Initial two-week field programme commencing later this month, involving approximately eight experienced exploration field personnel, following up on earlier work that has already identified multiple priority target areas, including one location where more than 100 small gold nuggets have been previously recovered in close proximity to a historic mine shaft.
- A significantly expanded second phase is planned for March 2027, with up to 80 experienced field personnel expected to undertake a systematic two-week reconnaissance programme across the Project.
- Programme expected to accelerate target generation and geological understanding across this highly prospective goldfield.
- Complements ECR’s ongoing geological mapping and Deep Ground Penetrating Radar (“DGPR”) exploration programme at the Tuckanarra Project.
- First phase of initiative to be undertaken at no additional direct cost to ECR.
This initiative represents one of the largest reconnaissance mapping and target-generation programmes ever undertaken across the Tuckanarra Project area. By leveraging the experience and field expertise of members of the Australian Prospectors and Leaseholders Association, ECR expects to rapidly accelerate its geological understanding and identify new exploration targets across this highly prospective yet underexplored goldfield, with the first phase of the programme being undertaken at no additional direct cost to the Company.
Programme overview
The reconnaissance operation will commence with an initial field campaign during August 2026, followed by a significantly expanded second phase programme scheduled for March 2027.
The March 2027 programme is expected to involve up to 80 experienced field personnel undertaking systematic reconnaissance across the Tuckanarra Project over a two-week period.
The programme has been designed to maximise geological coverage across the Tuckanarra Project and is expected to include:
- Systematic geological mapping;
- Identification and recording of historical mine workings and mineralised outcrop;
- GPS recording of significant geological features;
- Reconnaissance sampling where appropriate;
- Detector reconnaissance in prospective areas; and
- Identification and prioritisation of new exploration targets for follow-up by ECR’s technical team.
The Company expects for the programme to generate a substantial volume of geological observations across the Tuckanarra Project, providing valuable data to refine geological models, improve understanding of mineralised trends and prioritise future exploration activities.
Building on an established exploration strategy
The reconnaissance programme forms part of ECR’s broader exploration strategy for Tuckanarra and complements the Company’s previously announced exploration plans, including geological mapping, detector reconnaissance and Deep Ground Penetrating Radar investigations, targeting both primary gold mineralisation and buried paleochannel systems.
The Tuckanarra Project occupies a highly prospective position adjacent to Odyssey Gold Ltd’s reported 407,000-ounce JORC gold resource, with interpreted extensions of the same favourable geological sequence extending onto ECR’s tenure. Previous work has also identified significant potential for
The Company believes the addition of this large-scale reconnaissance programme will significantly enhance its understanding of the Tuckanarra Project while accelerating the identification of priority targets for future geophysical surveys, trenching and drill testing.
Next Steps
The initial reconnaissance programme is expected to commence during August 2026, with a larger field campaign planned for March 2027.
Following completion of each programme, geological observations and field data will be integrated with ECR’s existing exploration datasets, including DGPR results, to refine exploration models and prioritise follow-up work.
The Company believes that the programme represents a highly capital-efficient means of accelerating exploration across one of the most prospective assets within its Australian gold portfolio.
Nick Tulloch, Chairman of ECR Minerals, commented: “We consider the Tuckanarra Project to be one of the most exciting exploration assets within our expanded Australian gold portfolio. Located adjacent to a third-party substantial JORC gold resource and covering a highly prospective but comparatively underexplored geological setting, we believe the project has significant discovery potential.
“This initiative represents one of the largest reconnaissance mapping and target-generation programmes ever undertaken across the project. By working alongside members of the Australian Prospectors and Leaseholders Association, we expect to rapidly expand our geological understanding and identify new exploration opportunities across the licence area.
“Importantly, the first stage of this programme will be undertaken at no additional direct cost to ECR, allowing us to preserve the funds we raised last year for higher-value follow-up activities such as geophysics, trenching and drilling. It represents an innovative and highly capital-efficient approach to advancing one of the Company’s most prospective exploration assets.”
Review of Announcement by Qualified Person
This announcement has been reviewed by Michael Parker, Non-Executive Director of ECR Minerals Plc. Michael Parker has a BSc. in Mining Geology and is a professional geologist and is a Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM). 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 8080 8176 | ||
| Nick Tulloch, Chairman
Andrew Scott, Director |
info@ecrminerals.com | ||
| Website: www.ecrminerals.com | |||
| Allenby Capital Limited | Tel: +44 (0) 20 3328 5656 | ||
| Nominated Adviser and Joint Broker
Alex Brearley / Nick Naylor / Vivek Bhardwaj (Corporate Finance) Kelly Gardiner (Sales and Corporate Broking)
|
info@allenbycapital.com
|
||
| OAK Securities
Joint Broker Jerry Keen / Robert Bell
|
Tel: +44 (0) 20 3973 3678 | ||
| Axis Capital Markets Limited | Tel: +44 (0) 20 3026 0320 | ||
| Joint Broker | |||
| Lewis Jones | |||
| SI Capital Ltd | Tel: +44 (0) 1483 413500 | ||
| Joint Broker | |||
| Nick Emerson
|
|||
| 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 operating through four wholly owned Australian subsidiaries ECR Minerals (Australia) Pty Ltd (“ECR Australia”), ECR Minerals (Queensland) Pty Ltd (“ECR Queensland”), ECR Minerals (Raglan) Pty Ltd (“ECR Raglan”) and ECR Minerals (Paleogold) Ltd (“Paleogold”).
Paleogold has a 50% interest in the Maddens hard rock mining project in Northern Queensland where work is underway for production this year at the Maddens underground mine. There is a further trial alluvial mining programme at the Brothers mine. It also has a 20% interest in the Salt Bush shallow open cut mining project in South Australia where preparations are underway for production which is expected to commence around mid-2027. Paleogold also owns 80% of the Tuckanarra exploration project in Western Australia.
ECR Australia owns the Bailieston and Creswick gold projects in central Victoria, Australia as well as the Tambo gold project in eastern Victoria.
ECR Raglan has a mining lease at the Raglan alluvial gold project in central Queensland, Australia and ECR Queensland has two approved exploration permits over the nearby Blue Mountain alluvial gold project. ECR is currently working to bring both projects into production. ECR Queensland also has three approved exploration permits covering 946 km2 over a relatively unexplored area in Lolworth Range in northern Queensland. Furthermore, it has also submitted a licence 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), ECR Australia has the right to receive up to A$2 million in payments subject to future resource estimation or production from these projects.
ECR Australia also has approximately A$77 million of unutilised tax losses incurred during previous operations.
ECR Minerals #ECR – Acceleration of Maddens development through trial alluvial operations at the Brothers mining lease
ECR Minerals plc (AIM: ECR), the gold exploration and development company focused on Australia, is pleased to provide further details on its Queensland mining activities following on from a portfolio review undertaken as part of the Company’s ongoing transition towards becoming a diversified Australian gold producer.
The Board has approved the reallocation of operational personnel and a mobile wash plant from Raglan to what the Board considers to be the Company’s highest-priority development opportunity, the Maddens Gold Project in North Queensland, where trial alluvial mining activities are expected to commence shortly on the Brothers mining lease.
The Board believes this represents the most effective allocation of the Company’s financial and operational resources and is consistent with ECR’s stated strategy of building a diversified Australian gold company capable of generating both nearer-term revenues and long-term shareholder value.
Highlights
· Surface prospecting at Brothers has indicated a potentially high-grade alluvial mining opportunity within the existing mining lease.
· ECR team estimates that there may be around 100,000 cubic metres of minable material in place.
· Operational personnel and equipment to be redeployed from Raglan to commence trial alluvial mining at the Maddens’ Brothers mining lease.
· Existing mining leases, established underground development and multiple historic mining areas position Maddens as one of ECR’s highest-priority development assets.
· Increased technical and operational focus to be directed towards Maddens, Salt Bush and the Company’s expanded Queensland exploration portfolio.
· Mining operations at Raglan will transition to geological evaluation and mine-planning, pending the outcome of the test work at the Brothers mine.
· Raglan remains an important component of ECR’s Australian gold portfolio, pending restart of production operations.
· Recent exploration success at Lolworth continues to reinforce its potential as a district-scale gold system, including the recently announced 200-metre drill-ready gold corridor at Butterfly Creek.
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Surface gold recoveries in gullies draining from structures crossing the Brothers Mining Lease
Strategic development of project portfolio
Over the past twelve months, ECR has deliberately repositioned itself from a traditional exploration company into a diversified Australian gold company with multiple production and exploration opportunities across four Australian states. That strategy has significantly expanded both the scale of the Company’s portfolio and the number of projects potentially capable of contributing to future shareholder value.
As the portfolio has evolved, the Board has undertaken regular reviews to ensure that the Company’s capital, personnel and operational expertise remain focused on those assets capable of delivering the strongest long-term returns.
The review concluded that the Company’s highest-priority opportunities now lie within its expanded hard rock portfolio, led by Maddens in northern Queensland, supported by the future development potential at Salt Bush and Lolworth, which the Board considers has district-scale exploration potential.
Maddens is considered to provide exposure to a high-grade gold mining opportunity with existing mining leases, established underground workings and multiple additional mining opportunities across the broader project area. More recently, the on site team have developed an alluvial prospect within the Brothers mining lease. Surface samples have been very encouraging and the team estimates that there may be around 100,000 cubic metres of minable material.
Initial trial alluvial mining is expected to commence at the Brothers mining lease within the Maddens project area using the recently mobilised ECR test processing plant. Results from this programme will establish an operational baseline and assist the Company in determining future development plans, including the potential deployment of larger-scale processing equipment.
Recent underground surveying and LiDAR work has also significantly improved the Company’s geological understanding of the Maddens project and is expected to assist in prioritising future mining and exploration activities across the wider licence area.
Overview of the Brothers mine
Geological mapping indicates that the Brothers mining area lies within a structurally complex and strongly sheared mineralised zone. Historic underground development identified a steeply dipping mineralised shoot, while recent surface prospecting has recovered water-worn nuggety gold from gullies north and south of the historic workings. The Board believes these observations warrant immediate trial alluvial mining and further investigation of both the alluvial material and its potential hard-rock source.
The Brothers mine
Raglan
The initial operational phase at Raglan has provided the Company with valuable mining and processing experience, together with a significantly improved understanding of the project’s geological characteristics.
As work has progressed, management has identified opportunities for further geological interpretation, mine planning and technical evaluation to better define the most prospective mining areas before additional operational resources are committed.
Accordingly, operational personnel and a mobile wash plant will now be redeployed from Raglan to support trial mining activities at Maddens whilst technical analysis continues at Raglan. Active mining at Raglan will temporarily cease and the project will transition into a geological evaluation and mine-planning phase, while operational personnel and mobile processing equipment are redeployed to undertake trial alluvial mining at Brothers. Subject to the success of the Brothers trial alluvial mine, further Raglan equipment (including the 60 tonne/hour wash plant) could potentially be deployed at Maddens, as ECR seeks the highest return on capital.
The Board believes that this strategy represents the most prudent allocation of the Company’s available capital and operational capacity at the present time.
Raglan remains an important component of ECR’s Australian gold portfolio, and the Company intends to continue advancing its understanding of the project as part of its broader production pipeline. As part of the final Raglan clean up operations, the Company will gather all concentrated sands from the wash plant for processing, potentially in the mill at Maddens. Recovered gold from this concentrate will be added to gold nuggets and fines already recovered from Raglan and the aggregate quantity will be delivered to the offtaker for sale.
Queensland Growth Strategy
Alongside trial production-focused activities, ECR continues to advance its wider Queensland exploration strategy.
The Company recently announced the identification of a new 200-metre drill-ready gold corridor at the Butterfly Creek Prospect within its 946 km² Lolworth Project, where laboratory assays returned peak soil values of 3.51 g/t gold. Together with previous discoveries at Uncle Terry and Gorge Creek West, these results continue to reinforce management’s view that Lolworth has the potential to evolve into a significant district-scale gold system.
The Company also continues to make progress at Blue Mountain, with the mining lease application lodged, maintaining its objective of developing a diversified Australian gold portfolio comprising both near-term production assets and longer-term discovery opportunities.
Next steps
· Mobilisation and commissioning of the mobile wash plant and personnel to the Brothers mining lease.
· Initial trial alluvial mining and bulk processing.
· Reporting of recovered grades, throughput and recovery performance.
· Assessment of whether larger-scale processing equipment should be deployed to the Brothers mine area.
· Continued underground development planning at Maddens.
· LiDAR interpretation and exploration strategies to maximise potential at Maddens.
· Geological evaluation and mine planning at Raglan.
· Further updates on the Blue Mountain mining lease and Lolworth work programme.
Nick Tulloch, Chairman, commented: “Over the past year we have deliberately repositioned ECR from a traditional explorer into a diversified Australian gold company with a growing portfolio of potential production and exploration opportunities.
“As that portfolio has expanded, it has become increasingly important that we allocate our people, capital and equipment towards those projects capable of delivering the greatest long-term value for shareholders.
“Raglan has taken longer than anticipated to demonstrate consistent recoveries. The decision to redeploy resources is therefore a disciplined allocation of capital and resources. However, it is important to emphasise that this is not the end of the Raglan project and we will continue the geological evaluation and mine planning required to determine Raglan’s next operational phase, while directing our operating capability towards an alluvial opportunity at the Brothers mine area that warrants immediate trial work.”
“We believe that this strategic realignment reflects disciplined capital allocation and represents the next stage in ECR’s evolution into becoming a diversified Australian gold producer.”
Technical Director, Mike Parker, added: “One of the things that immediately attracted us to Maddens was that it is fundamentally different from many development-stage gold projects. It already benefits from an existing mining lease, established underground development and multiple historical mining areas, allowing us to move into production test work in the shorter-term.
“Importantly, Maddens is much more than a single mining opportunity. Alongside the Maddens mine itself, the wider project includes the Brothers, Sisters and You Can Tell Us mining areas, each offering additional development potential as our understanding of the project continues to grow. Brothers in particular is showing significant promise as an alluvial opportunity and, based on surface recoveries, it is important that we take the time to investigate what we believe could be a significant addition to the wider Maddens development plan.
“The technical work completed over recent months, including underground surveys and the LiDAR programme, has significantly improved our understanding of the structural geology across the project. Combined with the upcoming trial alluvial mining programme, we believe that Maddens has the potential to become one of the defining assets within ECR’s Australian gold portfolio.”
Review of Announcement by Qualified Person
This announcement has been reviewed by Michael Parker, Non-Executive Director of ECR Minerals Plc. Michael Parker has a BSc. In Mining Geology and is a professional geologist and is a Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM). 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:
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ECR Minerals Plc |
Tel: +44 (0) 20 8080 8176 |
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Nick Tulloch, Chairman Andrew Scott, Director |
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Website: www.ecrminerals.com |
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Allenby Capital Limited |
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Tel: +44 (0) 20 3328 5656 |
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Nominated Adviser and Joint Broker Alex Brearley / Nick Naylor / Vivek Bhardwaj (Corporate Finance) Kelly Gardiner (Sales and Corporate Broking)
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OAK Securities Joint Broker Jerry Keen / Robert Bell
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Tel: +44 (0) 20 3973 3678 |
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Axis Capital Markets Limited |
Tel: +44 (0) 20 3026 0320 |
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Joint Broker |
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Lewis Jones |
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SI Capital Ltd |
Tel: +44 (0) 1483 413500 |
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Joint Broker |
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Nick Emerson
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Brand Communications |
Tel: +44 (0) 7976 431608 |
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Public & Investor Relations |
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Alan Green |
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ECR Minerals #ECR – New drill target identified at Lolworth. Laboratory Gold Assays reveal new 200-Metre drill-ready gold corridor at Butterfly Creek
ECR Minerals plc (AIM: ECR), the gold exploration and development company focused on Australia, is pleased to announce that laboratory gold assay results from the Butterfly Creek Prospect have identified a compelling new drill-ready gold target within its 100% owned Lolworth Project in North Queensland.
Highlights
- New drill-ready gold target identified at the Butterfly Creek Prospect within ECR’s 100%- owned Lolworth Project
- Laboratory gold assays delineate a well-defined 200-metre north-northeast trending gold corridor
- Peak soil assay of 3,510 ppb Au
- Sixteen soil samples returned greater than 100 ppb Au, outlining a well-defined mineralised
system - Gold anomaly branches into a second northeast-trending structure associated with quartz
outcrop - Results define a compelling follow-up drill target at Butterfly Creek
The first complete laboratory dataset from Butterfly Creek has delineated a well-defined north- northeast trending gold corridor extending over approximately 200 metres, with a peak soil assay of 3,510 ppb Au.
The gold anomaly was not detected during earlier portable X-Ray Fluorescence (“pXRF”) analysis, demonstrating the necessity of laboratory gold analysis as an additional exploration technique to identify gold mineralisation that may not be recognised through conventional pathfinder analysis techniques alone.
The Board considers that these results further demonstrate the extent of exploration opportunities within ECR’s Queensland gold portfolio, complementing the Company’s production-focused activities at Raglan, Maddens and Blue Mountain.
Background
The Lolworth Project covers approximately 946 km2 within the highly prospective Hodgkinson Gold Province of North Queensland and is ECR’s largest exploration asset.
In December 2025, the Company announced encouraging maiden drilling results from the Uncle Terry and Gorge Creek West Prospects, confirming a gold-silver system and demonstrating the significant exploration potential across the project.
Those discoveries originated from a systematic soil sampling programme undertaken between 2023 and 2024. Initial interpretation relied primarily on portable X-Ray Fluorescence (“pXRF”) analysis to identify pathfinder elements such as lead, arsenic and silver that could indicate nearby gold mineralisation.
Whilst this approach successfully identified the mineralisation subsequently drilled at Uncle Terry and Gorge Creek West, pXRF technology cannot directly detect low concentrations of gold.
To further evaluate the wider exploration potential of Lolworth, ECR submitted approximately 1,500 soil samples for laboratory fire assay and Inductively Coupled Plasma (ICP) analysis at Onsite Laboratory Services (“OSLS”) in Bendigo, Victoria. The samples covered both the Butterfly Creek and Uncle Terry Prospects.
The Butterfly Creek results announced today represent the first complete laboratory dataset received from this programme.
Figure 1: Location of the Butterfly Creek Prospect within ECR’s 100% owned Lolworth Project
Butterfly Creek Results
A total of 500 soil samples were collected across Butterfly Creek on a systematic 25 metre by 25 metre grid, with selected areas around quartz outcrop infilled to 15 metre spacing.
Laboratory analysis has defined a coherent gold anomaly striking north-northeast over approximately 200 metres, which the Board considers represents a compelling new drill target.
The anomaly comprises sixteen soil samples returning greater than 100 ppb Au, including a peak soil assay of 3,510 ppb Au (3.51 ppm). Further details of the best gold-in-soil results from the Butterfly Creek Prospect can be found in Table 1 below.
Figure 2. Gold soil geochemistry at Butterfly Creek showing the north-northeast trending gold corridor defined by laboratory fire assay results
The gold anomaly forms a well-defined north-northeast trending corridor before branching into a second northeast-trending structure associated with a broad quartz outcrop, suggesting strong structural control on mineralisation.
Importantly, the anomalous gold values extend beyond the mapped quartz exposures, indicating the mineralised system has the potential to continue beneath shallow cover.
Unlike the Company’s previous discoveries at Uncle Terry and Gorge Creek West, the Butterfly Creek gold system displays little correlation with conventional pathfinder elements such as lead or silver. Consequently, the target was not recognised during earlier pXRF surveys and only became apparent following laboratory fire assay.
The Board believes that these results demonstrate that laboratory gold assays provide an important complementary exploration technique capable of identifying mineralised systems that may not be recognised through conventional pXRF pathfinder analysis alone.
Historical metal detector activity along the ridge has also recovered several rich gold-bearing quartz specimens directly above the newly defined gold corridor, providing additional confidence that the surface geochemistry should reflect an underlying bedrock gold system.
The Company has commenced planning follow-up exploration, including detailed geological mapping and an initial drill programme in due course to test the newly identified target.
Figure 3. High-grade gold-bearing quartz specimen recovered by historical prospecting along the Butterfly Creek ridge, coincident with the newly defined gold corridor
Adam Jones, ECR Chief Geologist, commented: “These are some of the most exciting soil results we’ve generated at Lolworth to date. Rather than isolated gold values, we’ve identified a well-defined mineralised corridor extending for around 200 metres, with gold values reaching 3.51 grams per tonne in soil samples.
“Perhaps just as importantly, this target was not identified using conventional pXRF pathfinder analysis. It only became apparent once the samples were analysed by laboratory fire assay. That validates the exploration model we wanted to test and demonstrates the value of laboratory gold analysis in identifying mineralisation that may otherwise remain undetected.
“Combined with our encouraging maiden drilling results at Uncle Terry and Gorge Creek West announced last year, these latest assays continue to reinforce our view that Lolworth is evolving into a district-scale gold system containing multiple independent exploration targets.”
ECR Chairman, Nick Tulloch, added: “Today’s announcement represents another important step forward for our Lolworth Project. We now have multiple prospects delivering encouraging exploration results, reinforcing our confidence in the scale and potential of this highly prospective Queensland gold project.
“As ECR continues to advance its strategy of becoming a diversified Australian gold company, Maddens, Raglan and Blue Mountain are focused on nearer-term production-related activities while Lolworth represents a significant longer-term discovery opportunity. Results such as these continue to reinforce our confidence in the quality and scale of our Australian gold portfolio.”
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.
Table 1: Best gold-in-soil results ≥ 100 ppb Au, Butterfly Creek Prospect
FOR FURTHER INFORMATION, PLEASE CONTACT:
| ECR Minerals Plc | Tel: +44 (0) 20 8080 8176 | ||
| Nick Tulloch, Chairman
Andrew Scott, Director |
info@ecrminerals.com | ||
| Website: www.ecrminerals.com | |||
| Allenby Capital Limited | Tel: +44 (0) 20 3328 5656 | ||
| Nominated Adviser and Joint Broker
Alex Brearley / Nick Naylor / Vivek Bhardwaj (Corporate Finance) Kelly Gardiner (Sales and Corporate Broking)
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info@allenbycapital.com
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| OAK Securities
Joint Broker Jerry Keen / Robert Bell
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Tel: +44 (0) 20 3973 3678 | ||
| Axis Capital Markets Limited | Tel: +44 (0) 20 3026 0320 | ||
| Joint Broker | |||
| Lewis Jones | |||
| SI Capital Ltd | Tel: +44 (0) 1483 413500 | ||
| Joint Broker | |||
| Nick Emerson
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| Brand Communications | Tel: +44 (0) 7976 431608 | ||
| Public & Investor Relations | |||
| Alan Green | |||
Mendell Helium #MDH – Operational Update
Mendell Helium, the helium production company with operations in Kansas, is pleased to provide an update on the Company’s operations in Fort Dodge, Kansas.
Highlights
· Rost 2-26 perforated at target production zones and being sized for pumping unit
· Brobee disposal well upgrades substantially complete
· Disposal well for Schneweis Ventures 13A completed and the Schneweis Ventures 13A well itself is being prepared for preliminary production
· Acquisition of 9 square miles of 3D seismic data to support selection of locations for new production wells
· Shortlist of drilling contractors developed in preparation for up to four new wells
· Drilling to be funded by the placing carried out in April 2026
Rost 2-26 and Brobee
Perforating of Rost 2-26 has been completed, targeting the production zones that were identified during drilling with a mass spectrometer. Gassy water at the surface has also provided encouraging evidence of the well’s potential. Swabbing of the well has provided data on likely water removal volumes and this data is being used to size the electric submersible pump (“ESP”) that will be deployed in the well.
At the neighbouring Rost 1-26 well, Mendell Helium utilised an ESP supplied by Summit ESP, a division of Halliburton, and the expectation is that Summit ESP will supply the ESP and related controls for Rost 2-26. A preliminary design has been prepared and a further meeting between the parties will take place this week to finalise the arrangements.
Upgrading the nearby Brobee salt water disposal well (“Brobee”) to access the deeper Arbuckle formation is substantially complete with the well now at the target depth and taking water on a vacuum. The Company has received a permit for Brobee that doubles its water disposal capacity to 10,000 barrels per day, making it sufficient for both Rost wells and potentially other production wells in due course.
Recompletion of Schneweis Ventures 13A
The new disposal well to support the recompletion of the Schneweis Ventures 13A well (“Schneweis”) has been completed and Ritchie Exploration, Inc. (“Ritchie”), Mendell Helium’s joint venture partner, is currently awaiting approval from the State of Kansas following which operations can commence.
Schneweis has been an operating well in the past and Ritchie and Mendell Helium agreed to utilise the pumping unit currently on-site in the initial de-watering phase. The advantage of this is that it enables de-watering to start much faster (as soon as state approval has been received) and those preliminary operations will provide valuable data in determining the size of a new pumping unit.
Plans for new production wells in Fort Dodge
Alongside existing projects, Mendell Helium has also been developing plans for up to a further four new production wells to be drilled. As previously announced, the Company has leased four tracts of land north of the Rost wells – the locations are known as Bleumer, Enlow, Durler and Leffert. This land, together with other identified zones, is forming the basis of the Company’s analysis and management expect to finalise the locations of the new wells in the coming weeks.
In anticipation of this drilling programme, Mendell Helium has commenced discussions with prospective drilling contractors. The Company expects to select a preferred partner shortly and, as announced on 30 April 2026, the objective is to secure savings by allocating the full 4-well programme to one contractor. The target is to commence operations on the new wells by 31 October 2026.
Mendell Helium is also pleased to confirm that it has acquired over 9 square miles of 3D seismic data covering the target zones in Fort Dodge. This 3D seismic data was acquired at a cost that is considerably less than the Company would have incurred, and on a much faster timeline, had it shot the seismic itself. The Company’s geologist team will use the interpretations from this data to corroborate the forthcoming drilling programme.
Nick Tulloch, Chief Executive Officer of Mendell Helium, said: “Since our admission to AIM earlier this month, we have wasted no time in expanding our business. Operations at Rost 2-26 and Schneweis are progressing well and we anticipate both wells will shortly provide production data. The Brobee disposal well has been extended and we are confident that its capacity is more than sufficient to accommodate both Rost wells and, in time, additional production wells.
“Our plans for further new wells at Fort Dodge have gathered pace too. With seismic data for the region now acquired and prospective drilling contractors identified, we are well placed to significantly scale up our operations in the second half of this year. With successful operations and a fully funded business plan, we expect to provide further updates to shareholders in the near term.”
This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.
ENDS
Engage with the Mendell Helium management team directly by asking questions, watching video summaries and seeing what other shareholders have to say. Navigate to our Interactive Investor website here: https://mendellhelium.com/link/PKa6Ve
Enquiries:
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Investor questions on this announcement We encourage all investors to share questions on this announcement via our investor website
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Mendell Helium plc Nick Tulloch, CEO
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Via our website investors@mendellhelium.com |
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Cairn Financial Advisers LLP (Nominated Adviser) Ludovico Lazzaretti / Liam Murray
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Tel: +44 (0) 20 7213 0880 |
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SI Capital Limited (Broker) Nick Emerson
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Tel: +44 (0) 1483 413500 |
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Fortified Securities Guy Wheatley
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Tel: +44 (0) 203 4117773
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Tel: +44 (0) 20 3973 3678 |
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AlbR Capital Limited Gavin Burnell / Colin Rowbury / Jon Belliss
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Tel: +44 (0) 207 4690930
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Brand Communications (Public & Investor Relations) Alan Green |
Tel: +44 (0) 7976 431608
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Overview of Mendell Helium
Mendell Helium is a helium producer in Kansas, USA where it operates through its wholly owned subsidiary M3 Helium.
M3 Helium’s flagship well, Rost 1-26, is in Fort Dodge, just to the east of Dodge City, Kansas. It has been tested as containing 5.1% helium composition and a drill stem test yielded a maximum flow rate of approximately 2,900 Mcf per day. Water removed from Rost 1-26 is delivered to Brobee, a nearby disposal well that has been permitted at 10,000 barrels of water per day at 1,200 psi. Production at Rost 1-26 commenced in early November 2025 and the most recently recorded flow rate in December 2025 was 250 Mcf per day equating to approximately $1.4 million of helium per year (at $300/Mcf helium).
M3 Helium has subsequently drilled a second well, Rost 2-26, which is currently being completed. It also owns additional leases in the Fort Dodge area capable of supporting up to eight new production wells. It has also agreed a joint venture with Ritchie Exploration, Inc. to recomplete the Schneweis Ventures 13A, a well with a drill stem test of over 10,000 Mcf per day and a historic flow rate of 300 Mcf per day.
At the Rost wells in Fort Dodge, M3 Helium treats the raw gas on site to concentrate the helium and has leased two tube trailers which it uses for deliveries to its offtaker.
M3 Helium also has interests in five producing wells (Peyton, Smith, Nilson, Bearman and Dimmitt) within the Hugoton gas field in South-Western Kansas, one of the largest natural gas fields in North America. Significantly these wells are in the proximity of a gathering network and the Jayhawk gas processing plant meaning that producing wells are all tied into the infrastructure.
Forward Looking Statements
These forward-looking statements are not historical facts but rather are based on the Company’s current expectations, estimates, and projections about its industry; its beliefs; and assumptions. Words such as ‘anticipates,’ ‘expects,’ ‘intends,’ ‘plans,’ ‘believes,’ ‘seeks,’ ‘estimates,’ and similar expressions are intended to identify forward-looking statements. These statements are not a guarantee of future performance and are subject to known and unknown risks, uncertainties, and other factors, some of which are beyond the Company’s control, are difficult to predict, and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. The Company cautions security holders and prospective security holders not to place undue reliance on these forward-looking statements, which reflect the view of the Company only as of the date of this announcement. The forward-looking statements made in this announcement relate only to events as of the date on which the statements are made. The Company will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances, or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority.
Mendell Helium #MDH – Admission to Trading on AIM and First Day of Dealings
Mendell Helium, the helium production company with operations in Kansas, is pleased to announce that the admission of its ordinary shares of 1 pence each (“Ordinary Shares”) to trading on the AIM Market (“AIM”), a market operated by the London Stock Exchange, will take place today (“Admission”).
Dealings in the Ordinary Shares on AIM will commence at 8:00 a.m. today under the TIDM “MDH” and the ISIN GB00BLD3FF28.
Additionally, the Company’s Ordinary Shares will be withdrawn from trading on the Access Segment of the Aquis Stock Exchange Growth Market with effect from 8.00 a.m. 30 June 2026, in accordance with AQSE Rule 5.3.
Mendell Helium is a helium producer in Kansas, USA where it operates in Fort Dodge, just to the east of Dodge City, and in the Hugoton gas field in South-Western Kansas, one of the largest natural gas fields in North America. It is Fort Dodge where the Company focuses its activities and where it plans up to four further wells. With a 5.1% helium composition, the Company’s flagship well, Rost 1-26, has a recorded flow rate of 250 Mcf per day. This has become the blueprint for future expansion in the Fort Dodge region. The Company’s Admission Document and information required pursuant to AIM Rule 26 is available on the Company’s website at https://mendellhelium.com.
Part 1 of the Admission Document is set out in the Appendix below.
Nick Tulloch, CEO of Mendell Helium, said:
“We are delighted to begin trading on AIM today. As we advance our significant development programme in Fort Dodge, Kansas, this marks the right moment to join a globally recognised growth market that aligns with our long-term ambitions.
“We are supported by an exceptionally committed and talented team, and while there is considerable work ahead as we execute our plans, the foundations for growth are firmly in place. The success of the Rost 1-26 well has validated our strategy, and our extensive land position provides a strong platform from which to expand our operations.
“I would like to thank our shareholders and advisers for their continued support and confidence in Mendell Helium. As we enter this exciting new phase of growth, we look forward to keeping the market updated as our programme of new wells progresses over the coming months.”
This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.
ENDS
Engage with the Mendell Helium management team directly by asking questions, watching video summaries and seeing what other shareholders have to say. Navigate to our Interactive Investor website here: https://mendellhelium.com/link/PKa6Ve
Enquiries:
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Investor questions on this announcement We encourage all investors to share questions on this announcement via our investor website
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Mendell Helium plc Nick Tulloch, CEO
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Via our website investors@mendellhelium.com |
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Cairn Financial Advisers LLP (AQSE Corporate Adviser) Ludovico Lazzaretti / Liam Murray
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Tel: +44 (0) 20 7213 0880 |
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SI Capital Limited (Broker) Nick Emerson
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Tel: +44 (0) 1483 413500 |
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Fortified Securities Guy Wheatley
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Tel: +44 (0) 203 4117773
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Tel: +44 (0) 20 3973 3678 |
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AlbR Capital Limited Gavin Burnell / Colin Rowbury / Jon Belliss
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Tel: +44 (0) 207 4690930
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Brand Communications (Public & Investor Relations) Alan Green |
Tel: +44 (0) 7976 431608 |
ECR Minerals #ECR – Raglan Operations Update
Independent Review Supports Pathway Towards Increased Recovery Potential Lidar Survey Completed and Queensland Technical Team Expansion Underway
ECR Minerals plc (AIM: ECR), the gold exploration and development company focused on Australia, is pleased to provide an operational update on activities at its Raglan Gold Project in Queensland, Australia. The Company has completed several initiatives in recent weeks which gives it confidence that more consistent gold production and recovery outcomes can be achieved from the project.
Highlights
- Drone Lidar survey completed across the Raglan Project area, with data analysis and interpretation now underway to support mine planning, identify additional palaeochannel targets and seeking to enhance future production activities
- Independent alluvial gold specialist with more than 30 years’ industry experience engaged to review mining and processing operations at Raglan
- Plant optimisation programme now in place to enhance gold recovery and operational efficiency
- Recruitment process underway for a consulting geologist to support exploration, development and production activities across ECR’s wider Queensland gold portfolio
- Further operational updates expected as optimisation activities progress
Lidar Survey Completed
The Company is pleased to confirm that a drone Lidar (Light Detection and Ranging) survey was completed by Victorian Geology and Survey Solutions across the Raglan Project area during May 2026. Processing and interpretation of the survey data is currently underway.
The Board believes that the survey has the potential to significantly improve ECR’s understanding of historical drainage systems, palaeochannels and mining targets across the project area. The interpreted data is expected to assist future mine planning, identify additional mining opportunities and support production scheduling activities.
Mining operations to date have already identified areas with potentially higher gold grades, specifically gullies into the main stream which can act as traps for alluvial gold. The survey therefore forms an important component of the Company’s ongoing efforts to optimise mining operations and maximise the broader potential of the Raglan Project.
Operations Update
Since acquiring the Raglan Project, the Company has focused on operating the processing plant and mobile mining fleet, establishing mining operations and developing a detailed understanding of the alluvial system. Alluvial mining is fundamentally about processing large volumes of material where small alterations to technique can have a significant effect on results.
As part of this process, ECR recently engaged an independent alluvial gold specialist with more than 30 years of operational experience in the alluvial mining sector in Australia to undertake a comprehensive review of both Raglan’s processing plant and mining methodology.
The review identified several adjustments to optimise gold recovery across the processing circuit. These included improvements to gravity recovery systems, water management, jig performance and overall plant calibration. Based on initial analysis, the Board believes that this optimisation programme can increase the recovery potential at the Raglan Project.
Mining Development
The independent review also included a detailed assessment of mining operations and interpretation of the alluvial system. Priority target areas have been identified within ECR’s existing phase 1 mining plan and activities are now being directed towards these zones which, based on ground analysis, are believed to represent favourable sections of the historical river channel system. In time, the findings from the Lidar data will also be integrated, with a view to further enhancing the operation’s efficiency.
Queensland Growth Strategy
As part of its broader Queensland growth strategy, ECR has commenced the process of appointing a consulting geologist to support its development, exploration and production activities across its Queensland gold portfolio. This is particularly in the context of ECR completing its acquisition of Paleogold Limited and associated transactions, as announced on 18 May 2026.
The successful candidate will work alongside the Company’s current operational team and will provide geological oversight across multiple projects, including Raglan, Blue Mountain, Lolworth, Maddens and other new potential development opportunities for the Company’s portfolio.
The role is expected to support mine planning, production optimisation, exploration targeting and development activities as ECR continues to expand its Queensland operations.
The Company believes that the addition of specialist geological expertise, together with its recent operational improvements and the completion of the Lidar survey, will further strengthen its ability to advance multiple Queensland assets simultaneously.
ECR Chairman Nick Tulloch commented: “We recognise that shareholders have been waiting for an update on Raglan. We bought the project as a turnkey operation and it has delivered on that – plant and equipment with a like-for-like replacement value in excess of the acquisition price and a mining lease that is showing very promising opportunities.
“Put simply, alluvial gold production is about mining in the right locations, processing the right material and ensuring the plant settings are optimised for that material. Fairly small changes can produce significant results. There has inevitably been some operational learning on site over these early months, but Raglan is now beginning to demonstrate the characteristics we expected when we acquired the project.
“The independent review has proven extremely valuable and has provided a significantly improved understanding of both the processing plant and mining operations. Importantly, we now have a plan in place to maximise gold recovery across the plant and a clearer pathway towards establishing consistent gold production.
“Completion of the Lidar survey will complement existing geological analysis as we continue to both refine our phase 1 mining plan and identify new areas.
“Raglan is a key component of ECR’s strategy to build a meaningful Queensland gold business. It was never expected to be our biggest project, but it is our first operational project, giving us initial gold production as we expand into bigger operations in Queensland and elsewhere in Australia.
“The work undertaken over recent weeks has given us considerably greater confidence in the broader mining opportunity at Raglan. While optimisation work remains ongoing, we believe that the project is moving into a stronger operational position and we look forward to updating shareholders as these improvements support more consistent gold production and recovery outcomes.”
Review of Announcement by Qualified Person
This announcement has been reviewed by Michael Parker, Non-Executive Director of ECR Minerals Plc. Michael Parker has a BSc. In Mining Geology and is a professional geologist and is a Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM). 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 8080 8176 | ||
| Nick Tulloch, Chairman
Andrew Scott, Director |
info@ecrminerals.com | ||
| Website: www.ecrminerals.com | |||
| Allenby Capital Limited | Tel: +44 (0) 20 3328 5656 | ||
| Nominated Adviser and Joint Broker
Alex Brearley / Nick Naylor / Vivek Bhardwaj (Corporate Finance) Kelly Gardiner (Sales and Corporate Broking)
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info@allenbycapital.com
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| OAK Securities
Joint Broker Jerry Keen / Robert Bell
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Tel: +44 (0) 20 3973 3678 | ||
| Axis Capital Markets Limited | Tel: +44 (0) 20 3026 0320 | ||
| Joint Broker | |||
| Lewis Jones | |||
| SI Capital Ltd | Tel: +44 (0) 1483 413500 | ||
| Joint Broker | |||
| Nick Emerson
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| Brand Communications | Tel: +44 (0) 7976 431608 | ||
| Public & Investor Relations | |||
| Alan Green | |||
Mendell Helium #MDH – Issue of Equity, Total Voting Rights & Director Dealing
Mendell Helium, the helium production company with operations in Kansas, announces the following issues of equity to a Director and members of its staff in accordance with share-based remuneration arrangements agreed with them and an additional issue of equity to professional advisers.
Nick Tulloch, Chief Executive Officer, will receive 750,000 new ordinary shares of 1 pence each (“Ordinary Shares”), as payment in lieu of £22,500 of accrued remuneration for the period from 1 January 2026 to 31 March 2026. Pursuant to the arrangements announced on 23 June 2025, the new Ordinary Shares will be issued at a price of 3.0 pence per share, being a price equal to the issue price of the Company’s subscription announced on 20 January 2026.
Following this issuance, the total number of Ordinary Shares that will be held following Admission by Nick Tulloch, a director of the Company, is as follows:
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Name |
New Ordinary Shares to be issued |
Total Ordinary Shares held in the Company following Admission |
Percentage of the Company’s enlarged issued ordinary share capital following Admission |
|
Nick Tulloch |
750,000 |
6,323,9831 |
1.85% |
1Including shares held by his spouse and Fetlar Capital, a company controlled by Nick Tulloch and his spouse.
Mendell Helium has also issued 500,000 new Ordinary Shares to each of two US based members of the M3 Helium Corp. (“M3 Helium”) team (“Consultant Shares”). These individuals previously supported M3 Helium as consultants and, ahead of the completion of the Company’s acquisiton of M3 Helium, joined the team thereby strengthening M3 Helium’s capabilities to advance its projects. In both cases, the issue of the Consultant Shares is in lieu of services provided as well as securing their commitment and incentivising their performance. These Consultant Shares will be issued at a price of 4.0 pence per share, being a price equal to the issue price of the Company’s placing announced on 30 April 2026.
Additional Issue of Equity
The Company has agreed to issue and allot 200,000 new Ordinary Shares at a price of 3.0 pence per share as payment in lieu of approximately £6,000 of accrued quarterly fees owed by the Company to a professional adviser. In addition, the Company has agreed to issue 625,000 new Ordinary Shares to a professional adviser as part of its remuneration in connection with the Company’s AIM admission workstreams. These new Ordinary Shares will be issued at a price of 4.0 pence per share, being a price equal to the issue price of the Company’s placing announced on 30 April 2026.
Admission
Application will be made for the 2,575,000 new Ordinary Shares to be admitted to trading on the Aquis Stock Exchange AQSE Growth Market (“Admission”). Admission is expected to occur at 8:00 am on or around 2 June 2026. The new Ordinary Shares will rank pari passu with the existing ordinary shares.
Total Voting Rights
Following Admission, the Company’s enlarged share capital will comprise 340,761,938 Ordinary Shares of 1 pence each. Therefore, the total number of voting rights in the Company will be 340,761,938. This figure may be used by shareholders as the denominator for calculations by which they will determine if they are required to notify their interest in the Company, or a change to their interest in the Company, under the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules.
This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.
ENDS
Engage with the Mendell Helium management team directly by asking questions, watching video summaries and seeing what other shareholders have to say. Navigate to our Interactive Investor website here: https://mendellhelium.com/link/PKa6Ve
Enquiries:
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Investor questions on this announcement We encourage all investors to share questions on this announcement via our investor website
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Mendell Helium plc Nick Tulloch, CEO
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Via our website investors@mendellhelium.com |
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Cairn Financial Advisers LLP (AQSE Corporate Adviser) Ludovico Lazzaretti / Liam Murray
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Tel: +44 (0) 20 7213 0880 |
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SI Capital Limited (Broker) Nick Emerson
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Tel: +44 (0) 1483 413500 |
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Fortified Securities Guy Wheatley
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Tel: +44 (0) 203 4117773
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Tel: +44 (0) 20 3973 3678 |
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AlbR Capital Limited Gavin Burnell / Colin Rowbury / Jon Belliss
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Tel: +44 (0) 207 4690930
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Brand Communications (Public & Investor Relations) Alan Green |
Tel: +44 (0) 7976 431608 |