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 November 2012 - ECR Minerals plc notes statements made by Meridien Capital Ltd (“Meridien”) in Australia with regard to Gold Crest Holdings Ltd (“Gold Crest”) along with subsequent bulletin board speculation and enquiries by ECR shareholders. The Company has a 70% shareholding in Gold Crest and Meridien has a 10% shareholding. The sole activity of Gold Crest is to hold a 100% beneficial interest in the ACS Asia metal products manufacturing business in Thailand.

The Company confirms that it is in negotiations with regard to the sale of its shareholding in Gold Crest, however there can be no assurance that these negotiations will be successfully concluded. The negotiations have been entered into in accordance with ECR’s previously notified strategy, one element of which is to reduce the complexity of the Company’s operations by disposing of non-core interests.

Pursuant to Rule 15 of the AIM Rules for Companies, a sale by ECR of its Gold Crest shareholding would require the consent of the Company’s shareholders being given in general meeting. In the event that terms of sale are contractually agreed (subject to shareholder approval) a further announcement will be made and a circular will be published containing details of the proposed sale along with any other necessary information and convening the general meeting.

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