ECR is a mineral exploration and development company, incorporated in the UK.

ECR’s wholly owned Australian subsidiary Mercator Gold Australia (MGA) has agreed to acquire 100% ownership of the Avoca and Bailieston gold projects in Victoria, Australia. Mercator Gold Australia is estimated to have tax losses of approximately AUD 66M as at 30 June 2015, which may be available, subject to certain conditions (as described in ECR’s announcement dated 4 December 2014), to reduce MGA’s future taxable profits.

ECR has the right to earn a 50% interest in the Danglay epithermal gold project in the Philippines. Danglay is an advanced exploration project located in a prolific gold and copper mining district in the north of the Philippines. An NI43-101 technical report was completed in respect of the Danglay project in December 2015, and is available for download from ECR’s website.

ECR’s wholly owned subsidiary Ochre Mining has a 100% interest in the SLM gold project in La Rioja Province, Argentina. Exploration at SLM has focused on identifying small tonnage mesothermal gold deposits which may be suitable for relatively near term production.

 

ECR shares are listed on the AIM market of the London Stock Exchange with the symbol ECR.

MERCATOR GOLD plc
(“Mercator Gold”, “Mercator” or “the Company”)

AIM: MCR

US OTC: MTGDY

 

LONDON: 22 JUNE 2009

    • Substantial new copper and zinc zones have been intersected by recent drilling at Silver Swan’s Austin prospect in Western Australia.

    • The first hole in Silver Swan’s latest diamond drilling programme at the Austin prospect has intersected 61m of mineralisation at 1.9% copper and 5.4g/t silver, including high grade intervals of up to 9.2% copper.

  • Mercator holds ten million ordinary shares in Silver Swan plus four million performance shares.

 

Mercator Gold plc is pleased to draw attention to the exploration update released on 18 June 2009 by Silver Swan Group (“Silver Swan”), which is listed on the Australian Stock Exchange (“ASX”) with the ticker SWN.

The full announcement by Silver Swan can be viewed here:
http://www.silverswangroup.com.au/pdf/Announcements/2009/JUN09/090617_Another 60mCcopperIntersectionForSilverSwan.pdf

Mercator holds ten million ordinary shares in Silver Swan following the sale to Silver Swan of certain of Mercator’s non-core exploration leases near Meekatharra in Western Australia (see announcement dated 20 February 2008).

Mercator also holds four million performance shares in Silver Swan, which will convert to fully-paid ordinary shares subject to certain terms and conditions, the most notable of which is the proving up by Silver Swan of 350,000 ounces of gold or gold equivalent in the indicated resource category on the leases sold to it by Mercator.

 

For further information please contact:

Mercator Gold plc    
Michael Silver, Chairman    
Patrick Harford, Managing Director Tel: +44 (0) 20 7929 1010
Email:This email address is being protected from spambots. You need JavaScript enabled to view it.    
   
   
   
Bankside Consultants Ltd Tel: +44 (0) 20 7367 8888
Simon Rothschild    
Oliver Winters    
AIM: MCR    

 

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