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
(“ECR Minerals”, “ECR” or the “Company”)

 

AIM: ECR
US OTC: MTGDY

London: 30 March 2012 - On 27 March 2012 ECR Minerals plc announced that Patrick Harford had tendered his resignation as Managing Director of ECR and that his resignation had been accepted by the board of the Company (the “Board”). Mr Harford had stated that his resignation was for personal reasons.

The Board of ECR is pleased to announce that, following the resolution of these personal matters, Mr Harford has agreed to re-join the Board of ECR as an executive director with immediate effect.

On 27 March 2012 the Company also announced details of a substantial cost reduction programme. In order to further reduce costs Michael Silver has tendered, and the Board has accepted, his resignation as a director of the Company effective 30 April 2012.

Until Mr Silver’s resignation becomes effective, and subject to re-election at the Company’s AGM on 31 March 2012, his role will be that of a non-executive director of the Company and, subject to re-election at the AGM, Patrick Harford will take on the duties of Chairman of the Board.

The Board would like to thank Mr Silver for his assistance in the development of the Company since 2008. Mr Silver has advised that he will be available to consult to the Company as required following 30 April 2012.

Save for above and below and pursuant to Rule 17, Schedule Two (g) of the AIM Rules, the following information is disclosed in respect of Patrick Harford (age 60).

 

Current appointments:

Ademro Pty Ltd
Mercator Gold Australia Pty Ltd
Gold Crest Holdings Ltd
New Mexico Copper Corporation
Copper Flat Corporation
Warm Springs Renewable Energy Corporation

 

Past appointments:

Northern Territory Gold Mining NL
Nexon Limited
Bonheur 27 General Trading Pty Ltd
Lexshell 649 Investments (Pty) Ltd
Central China Goldfields plc

 

Kakadu Resources Ltd and Complete Form Pty Ltd, companies in which Mr Harford held directorship positions, were placed into administration in 1985 and 1987 respectively.

Mr Harford is currently interested in 2,000,000 ordinary 0.1p shares of the Company representing approximately 0.28% of the Company’s issued share capital.

 

For further information please contact:

ECR Minerals plc
Patrick Harford, Executive Chairman
Stephen Clayson, Director & Chief Financial Officer
Luca Tenuta, Non-Executive Director
Michael Silver, Non-Executive Director Tel: +44 (0) 20 7929 1010
Email:This email address is being protected from spambots. You need JavaScript enabled to view it.
Daniel Stewart & Company plc
Paul Shackleton/Tessa Smith/David Hart Tel: +44 (0) 20 7776 6550
Old Park Lane Capital plc
Michael Parnes Tel: +44 (0) 20 7493 8188
Blythe Weigh Communications
Matthew Neal/Tim Blythe/Paul Weigh Tel: +44 (0)20 7138 3204
Barry Kaplan Associates
Larry Kaplan Tel: +1 732 747 0702