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 October 2012 - ECR Minerals plc announces the issue and allotment of a total of 28,910,507 ordinary shares of 0.1p (“Ordinary Shares”) at 0.346p per share in connection with an advance of GBP100,000 (the “Advance”) under the Company's Standby Equity Distribution Agreement (SEDA) with YA Global Master SPV Ltd (“YA Global”).

The proceeds of the Advance will be used in partial repayment of the loan received by ECR from YA Global in August 2012 and for general working capital purposes. Further to the Company’s announcement of 25 October 2012, costs incurred by ECR in Argentina are being minimised while the results of the recent underground and surface sampling programme are analysed and options with regard to the El Abra gold prospect and other parts of the Sierra de las Minas project area are considered.

The Company continues to pursue the crystallisation of value from investment positions and the disposal of non-core assets, and hopes to be in a position to provide further updates shortly.

Pursuant to this announcement application has been made for a total of 28,910,507 new Ordinary Shares to be admitted to trading on AIM. Dealings are expected to commence on 5 November 2012. Following the issue and allotment of the new Ordinary Shares the Company will have a total of 939,003,435 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.

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 Company holds a 21% fully diluted stake in THEMAC Resources Group Ltd (“THEMAC”), which is focused on the redevelopment of the Copper Flat copper-molybdenum-gold-silver porphyry deposit in New Mexico, USA. THEMAC is listed on the TSX Venture Exchange with the symbol MAC.

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.

Website:www.ecrminerals.com







Daniel Stewart & Company plc

Paul Shackleton/David Hart Tel: +44 (0)20 7776 6550