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: 15 May 2012 - ECR Minerals plc announces that it has issued and allotted a total of 13,500,168 ordinary shares of 0.1p (“Ordinary Shares”) to YA Global SPV Ltd (“YA Global”) at 0.667p per share in connection with an advance of £90,000 (the “Advance”) under the Company’s Standby Equity Distribution Agreement (SEDA) with YA Global.

The proceeds of the Advance will be used to provide working capital for the Company’s gold exploration activities in Argentina and for general corporate purposes.

Pursuant to this announcement application will be made for a total of 13,500,168 Ordinary Shares to be admitted to trading on AIM. Dealings are expected to commence on 21 May 2012. Following admission the Company will have a total of 727,409,600 Ordinary Shares in issue. The new Ordinary Shares will rank pari passu in all respects with the Ordinary Shares of the Company currently traded on AIM.

 

For further information please contact:

ECR Minerals plc
Patrick Harford, Executive Chairman
Stephen Clayson, Director & Chief Financial Officer
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