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: 31 August 2012 - The board of directors of ECR Minerals plc (the “Board”) has noted the recent fall in the share price of THEMAC Resources Group Ltd (“THEMAC”) on the TSX Venture Exchange (TSX-V: MAC) and recognises the concerns of ECR shareholders in light thereof.  ECR is not aware of any reason for this decline apart from the fact that there is a limited free float of THEMAC shares which are thinly traded, and sometimes prone to erratic price movements on small volumes.

ECR currently has a 21% fully diluted stake in THEMAC, which is focused on the redevelopment of the Copper Flat copper-molybdenum-gold-silver porphyry deposit in New Mexico, USA to production. THEMAC has completed an NI43-101 compliant prefeasibility study (PFS) for Copper Flat and ECR is confident in the significant potential of the project.

The Board is committed to realising the full value of the Company’s investment in THEMAC and will continue to review all the options available to achieve that aim.

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. The project area hosts numerous small, high grade gold targets that may be suitable for early advancement to production.

In addition to its stake in THEMAC, the Company has shareholdings 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