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: 11 February 2013 - ECR Minerals plc is pleased to announce that the sale of the Company’s 70% shareholding in Gold Crest Holdings Ltd (“Gold Crest”) to Mr Steve Iliev has now completed. Gold Crest is a holding company for the ACS Asia manufacturing business in Thailand.

Stephen Clayson, Chief Executive Officer of ECR, commented:

“As described in the circular to ECR shareholders posted 27 December 2012, completion of the Gold Crest sale is an important step in the Company’s strategy of refocusing its efforts and resources on its core activities in the mineral sector.

The sale has brought in USD 75,000 cash and reduced the amount of the Company’s outstanding convertible loan notes by GBP 325,000. ECR also expects the repayment in quarterly instalments over the next 12 months of USD 150,000 owed to it by ACS Asia. Just as importantly, Gold Crest and ACS Asia are no longer a drain on ECR’s management and financial resources.

As well as seeking a joint venture partner or purchaser for the Sierra de las Minas gold project in La Rioja Province, Argentina, the Company presently has a number of potential new mineral projects under review, and we hope to crystallise one of these opportunities in the near future.”

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    
Paul Johnson, Non-Executive Chairman Tel: +44 (0)20 7929 1010
Stephen Clayson, Director & Chief Executive 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    
David Hart/Antony Legge Tel: +44 (0)20 7776 6550