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: 28 December 2012 - ECR Minerals plc announces the issue and allotment of 27,017,899 ordinary shares of 0.1p (“Ordinary Shares”) at 0.2961p per share in connection with an advance of GBP80,000 (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.

Pursuant to this announcement application has been made for a total of 27,017,899 new Ordinary Shares to be admitted to trading on AIM. Dealings are expected to commence on 3 January 2012. Following the issue and allotment of the new Ordinary Shares the Company will have a total of 1,013,723,433 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, among other interests, 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 project in New Mexico, USA; and a stake in Paniai Gold Ltd (unquoted), which has exposure to the Derewo River alluvial gold mining and exploration project in Papua, Indonesia.

 

For further information please contact:

ECR Minerals plc
Keith Irons, Non-Executive Chairman Tel: +44 (0)20 7929 1010
Stephen Clayson, Director & Chief Operating 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/Paul Shackleton Tel: +44 (0)20 7776 6550