TIDMECR

13 September 2021

ECR MINERALS plc

("ECR Minerals", "ECR" or the "Company")

Property purchase within in the Bailieston License Area

ECR Minerals plc (LON: ECR), the gold exploration and development company focused on Australia, is pleased to announce that its 100% owned Australian subsidiary, Mercator Gold Holdings Pty Ltd ("MGH"), has purchased a property at 127 Nagambie-Rushworth Road, subject only to payment of the completion monies. The property is located within the Company's 100% owned Bailieston license area ("Bailieston").

It is anticipated that monies will be paid, and completion will occur, on or around 8 October 2021 and further updates will be provided at that time.

Highlights:

   -- The property is adjacent to the Company's Cherry Tree Project, located 
      within the Bailieston license area in Victoria, Australia. 
 
   -- Bailieston neighbours Kirkland Lake Gold's multi-million-ounce 
      Fosterville gold mine. Newmont Mining have also submitted an application 
      for an exploration license immediately to the north of the Black Cat 
      property within the Bailieston license area. 
 
   -- The property consists of 297 acres of land (no buildings at this time), 
      within the 24 square kilometre Bailieston license area, with ample 
      exploration opportunity and the future potential for the construction of 
      a mine decline, processing plant and tailings dam. 
 
   -- The purchase price of the property is A$750,000, which will be settled in 
      two tranches consisting of a A$75,000 deposit, which has already been 
      paid, and the remaining balance which is to be paid 30 days from the date 
      of sale. The purchase will be funded by the Company's existing cash 
      resources. As at the close of business on 9 September 2021 the Group had 
      GBP3,874.779.94 (USD equivalent $5,362,695.44) in the bank after paying 
      the A$75,000 deposit.

Craig Brown, Chief Executive Officer commented: "Following the recent highly encouraging early results from the maiden drilling programmes at the Bailieston HR3 and HR4 (Cherry Tree Project), on behalf of the board, I am delighted to announce the purchase of a considerable land package located in close proximity to Cherry Tree. Based on the gold mineralisation, geological findings and data acquired from the Bailieston drilling campaigns to date, our board have taken the decision to proceed with ECR's second land package acquisition.

"The size and scale of this land package ensures that, equipped with our own drilling rigs we can now ramp up our drilling and exploration activities across the territory, and when appropriate can develop our own mine decline, processing plant and tailings dam."

"This is an exciting period of evolution for ECR as a company as we grow our presence across the Victoria Goldfields. I look forward to reporting the next developments."

The property was purchased from a private individual.

MARKET ABUSE REGULATIONS (EU) No. 596/2014

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (MAR). Upon the publication of this announcement via Regulatory Information Service (RIS), this inside information is now considered to be in the public domain.

FOR FURTHER INFORMATION, PLEASE CONTACT:

 
ECR Minerals plc                      Tel: +44 (0) 20 7929 1010 
David Tang, Non-Executive Chairman 
Craig Brown, Director & CEO 
Email: 
 info@ecrminerals.com 
Website: www.ecrminerals.com 
 
WH Ireland Ltd                        Tel: +44 (0) 161 832 2174 
Nominated Adviser 
 
SI Capital Ltd                        Tel: +44 (0) 1483 413500 
Broker 
Nick Emerson 
 
Novum Securities Limited              Tel: +44 (0) 20 7399 9425 
Broker 
 Jon Belliss 
 
Blytheweigh                           Tel: +44 (0) 207 138 3204 
Public Relations 
Tim Blythe

ABOUT ECR MINERALS PLC

ABOUT ECR MINERALS PLC

ECR Minerals is a mineral exploration and development company. ECR's wholly owned Australian subsidiary Mercator Gold Australia Pty Ltd ("MGA") has 100% ownership of the Bailieston and Creswick gold projects in central Victoria, Australia, has eight licence applications outstanding including two licence applications lodged in eastern Victoria. (Tambo gold project). MGA is currently drilling at both the Bailieston and Creswick projects and has an experienced exploration team with significant local knowledge in the Victoria Goldfields and wider region.

https://mercatorgold.com.au/

ECR also owns 100% of an Australian subsidiary LUX Exploration Pty Ltd ("LUX") which has three licence applications covering 900 km2 covering a relatively unexplored area in Queensland, Australia.

https://luxexploration.com/

Following the sale of the Avoca, Moormbool and Timor gold projects in Victoria, Australia to Fosterville South Exploration Ltd (TSX-V: FSX) and the subsequent spin-out of the Avoca and Timor projects to Leviathan Gold Ltd (TSX-V: LVX), Mercator Gold Australia Pty Limited has the right to receive up to A$2 million in payments subject to future resource estimation or production from projects sold to Fosterville South Exploration Limited.

ECR has earned a 25% interest in the Danglay gold project; an advanced exploration project located in a prolific gold and copper mining district in the north of the Philippines, which has a 43-101 compliant resource. ECR also holds a royalty on the SLM gold project in La Rioja Province, Argentina and can potentially receive up to US$2.7 million in aggregate across all licences.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210912005074/en/

 
    CONTACT:

ECR Minerals plc

 
    SOURCE: ECR Minerals plc 
Copyright Business Wire 2021

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September 13, 2021 02:29 ET (06:29 GMT)

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