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.

ECR Minerals plc is pleased to announce that Stephen Clayson has been appointed an Executive Director of the Company and that Luca Tenuta has been appointed a Non-Executive Director. ECR also announces that Michael Elias has resigned as a Non-Executive Director of the Company. These changes are effective 1 April 2011.

Stephen James Clayson (British, aged 25)
Executive Director and Chief Financial Officer

Stephen Clayson has been Chief Financial Officer of ECR since September 2010, and was extensively involved in the Company’s affairs for some two years prior to his appointment as Chief Financial Officer. He has acquired substantial experience in the mineral exploration and development sector and in the operations of listed companies since 2006.

Mr Clayson is beneficially interested in 2,246,059 ordinary shares of the Company; in 400,000 warrants issued pursuant to the Company’s announcement of 12 May 2010, each of which is exercisable to acquire one ordinary share of the Company at a price of 1p per share; and in 3,900,000 options issued as announced on 6 January 2010 under ECR’s unapproved share option plan, each of which is exercisable to acquire one ordinary share of the Company at a price of 2.5p per share.

Luca Tenuta (Italian, aged 34)
Non-Executive Director

Luca Tenuta has over 10 years of experience in financial and corporate matters. He started his career as a credit and risk analyst for Banca Intesa London (today San Paolo IMI) and Credit Suisse First Boston. During his time in banking he was responsible for European aerospace and defence, engineering and energy companies and structured debt/equity transactions for non-investment grade counterparties. He subsequently gained experience in the natural resources sector as CEO of Uranio AG and of Worldwide Natural Resources plc. He is currently Chairman of Ecovista plc, a company listed on PLUS, and is active in the international property sector.

Luca holds an MA in Economics and Finance from Universita’ La Sapienza in Rome. He is also an FSA approved person with the designation CF30.

Stephen Clayson - Current Directorships

Clayson Capital Partners Ltd
Cordillera Tiger Gold Resources Inc.

Luca Tenuta - Current Directorships

White Star Energy plc
Ten Brothers Ltd
Purely Financial Group Ltd
Ecovista plc
39 Sutherland Avenue Management Company Ltd
Allura Ltd

Luca Tenuta - Other Directorships Held in Previous Five Years

Worldwide Natural Resources plc
Payeasy Solutions UK Ltd
Coal Fines Resources SA Ltd
Coal Fines Technology Limited
Vistula Communications Services Inc.
Creative Entertainment Group plc
White Star Energy (UK) Ltd
Templeco 649 Ltd
Oriental City Development Ltd
Angelrealm Ltd
Metrolinx Ltd
Euro Capital Projects Ltd

Patrick Harford, Managing Director of ECR Minerals plc, comments:

"On behalf of everyone at ECR, I would like to thank Mick Elias for the highly professional service he has given to the Company since 2004, through some difficult times. He has our very best wishes for the future.

I am pleased to welcome Luca Tenuta as a Non-Executive Director of the Company and Stephen Clayson, who has been Chief Financial Officer of the Company since September 2010, as an Executive Director. I have no doubt that both will play an important role in the growth and development of ECR in the future.”

About ECR Minerals

ECR is a mineral development company with interests in the USA, Argentina, Indonesia, Thailand and Australia.

 

For further information please contact:

ECR Minerals plc
Michael Silver, Chairman Tel: +44 (0) 20 7929 1010
Patrick Harford, Managing Director
Stephen Clayson, Chief Financial Officer
Email:This email address is being protected from spambots. You need JavaScript enabled to view it.
Daniel Stewart & Company plc
Oliver Rigby/Tessa Smith Tel: +44 (0) 20 7776 6550
Old Park Lane Capital plc
Forbes Cutler Tel: +44 (0) 20 7518 2603
Director of Corporate Broking
Blythe Weigh Communications
Ana Ribeiro Tel: +44 (0)20 7138 3204
Barry Kaplan Associates
Larry Kaplan Tel: +1 732 747 0702