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 JULY 2005 - Following on from the appointment of Dr Susan Vearncombe as a Director of the Company, the Company has agreed to issue Dr Susan Vearncombe with 750,000 new share options. The share options are exercisable at any time within the next 10 years at an exercise price of 10p per Ordinary Share.

Following the issue of these new share options, the interests of Dr Susan Vearncombe in the Ordinary Share capital of the Company are as follows:

Number of share issued subscribe Ordinary Shares Ordinary Shares as a Percentage of issued Ordinary Share capital Number of Warrants to subscribe for new Ordinary Shares Number of options to for new Shares
1,700,000* 1.95 per cent 400,000* 1,500,000

 

The total number of Ordinary Shares, Warrants and share options to subscribe for new Ordinary Shares held by Dr Susan Vearncombe is 3,600,000 which represents 4.13% of the Company's issued share capital.

* Dr. Susan Vearncombe's interest in Ordinary Shares includes Dr. Julian Vearncombe's interest in 200,000 Ordinary Shares and 400,000 warrants which are held in the Vearncombe Superannuation Fund.

 

For further information please contact:

Mercator Gold plc    
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.    
   
   
   
Beaumont Cornish Limited    
Roland Cornish Tel: + 44 (0) 20 7628 3396

 

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