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: 27 June 2012 - ECR Minerals plc is pleased to draw attention to the news release made today by THEMAC Resources Group Ltd (“THEMAC”) in relation to THEMAC’s 100% owned Copper Flat copper-molybdenum-gold-silver project in New Mexico, USA.

ECR owns approximately 19% of THEMAC’s issued share capital and has a fully diluted interest in THEMAC of approximately 21%. THEMAC is listed on the TSX Venture Exchange with the code MAC.

Highlights

  • Assay results for the first seven holes of the 25 hole 2012 Copper Flat drilling programme released
  • Best intersection 0.72% copper and 0.13 oz silver per ton over first 305 ft of hole CF12-07 and footprint of deposit expanded to the southwest by hole CF12-01
  • Copper Flat prefeasibility study (PFS) to be published during July and latest drilling results being incorporated into PFS reserve estimate
  • Mine permitting process well advanced and environmental impact statement (EIS) targeted for completion in third quarter of 2013

The highlights above have been derived from the release made by THEMAC and should be read and interpreted in conjunction with it. The full release can be viewed on THEMAC’s website (www.themacresourcesgroup.com).

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

“THEMAC has reported substantial progress at Copper Flat on a number of fronts and the drilling results announced today are likely to have a positive impact on the project’s resource base. It is particularly encouraging to note the extension of the deposit to the southwest and the higher than usual copper and silver grades encountered. We eagerly await the publication of the Copper Flat prefeasibility study next month.”

ECR’s Interest in THEMAC

ECR holds 14.35 million common shares and 14.35 million common share purchase warrants of THEMAC. All the warrants held by ECR are exercisable at C$0.28 per share; 3.85 million warrants are valid until 3 May 2013 and the remaining 10.5 million warrants are valid until 4 March 2016.

About ECR Minerals plc

ECR is a mineral development company with 100% ownership of the Sierra de las Minas gold project in La Rioja Province, Argentina; a 21% fully diluted stake in THEMAC Resources Group Ltd (TSX-V: MAC), which is focused on the development of the Copper Flat copper-molybdenum-gold-silver porphyry deposit in New Mexico, USA to production; and stakes in West Wits Mining Ltd (ASX: WWI) and Paniai Gold Ltd (unquoted), both of which have interests in the Derewo River alluvial gold mining and exploration project in Papua, Indonesia.

 

For further information please contact:

ECR Minerals plc
Patrick Harford, Managing Director Tel: +44 (0)20 7929 1010
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