REG - ECR Minerals PLC - Board Change

ECR MineralsAnnouncement

23/01/2024 07:15

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240123:nRSW5924Aa&default-theme=true

RNS Number : 5924A  ECR Minerals PLC  23 January 2024

ECR MINERALS plc

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

Board Change

ECR Minerals plc (LON: ECR), the exploration and development company focused
on gold in Australia, announces that, given the Company's recent acceleration
in exploration activity and following an in-country visit by Managing
Director Nick Tulloch, Technical Director Adam Jones has stepped down from the
board of directors with immediate effect. Adam will nonetheless continue in
his role with ECR as chief geologist and technical director of exploration,
and by stepping down from the board he will be able to focus more of his time
on the Company's commercial operations.

ECR Managing Director Nick Tulloch commented: "It has hopefully been apparent
to shareholders that the pace of our operations has accelerated in recent
months and, with that, comes the need to position our capabilities to take
full advantage of opportunities that may be presented to us. It is important
to note that this board change is no reflection on Adam - in fact the
conversation was instigated by him.  Having just returned from Victoria, I
can say with full confidence that we have an outstanding team of which Adam is
a core part.  We also have an extensive portfolio of assets which will
require increasing attention as we seek to develop them into commercial
prospects. By relinquishing his board duties, Adam will now have more time to
focus on his skillset of identifying and progressing prospects in Australia.

"What was clear from my recent visit, and meetings I attended whilst there, is
that the opportunities in both Victoria and elsewhere in Australia for ECR are
potentially very significant.  We need - and we have - a dedicated and
experienced team on the ground who can concentrate on bringing these
opportunities to fruition.  Asking that team to fulfil other duties,
particularly those covered by existing board members, is a duplication of
resources."

ECR Chief Geologist and Technical Director of Exploration Adam Jones
commented: "ECR has been re-energised since the appointment of Nick and Mike,
and thanks to their arrival we now have a well-balanced board of directors
with strong and complimentary skillsets.  It had always been my intention to
focus on our opportunities in the ground and I am pleased to be able to now
give both our existing, and potentially new, prospects my full attention as we
continue to develop the company."

 

FOR FURTHER INFORMATION, PLEASE CONTACT:

 

 ECR Minerals plc                                                                                                                                                                                                                                           Tel: +44 (0) 20 7929 1010
 David Tang, Non-Executive Chairman

 Nick Tulloch, Managing Director

 Andrew Scott, Director

 Email:

 info@ecrminerals.com (mailto:info@ecrminerals.com)
 Website: www.ecrminerals.com
 (http://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.ecrminerals.com%2F&esheet=51817334&newsitemid=20180605005810&lan=en-US&anchor=www.ecrminerals.com&index=1&md5=820ad49dc1fc2c84a0538453c017bc1b)

 WH Ireland Ltd                                                                                                                                                                                                                                             Tel: +44 (0) 207 220 1666
 Nominated Adviser

 Katy Mitchell / Andrew de Andrade

 SI Capital Ltd                                                                                                                                                                                                                                             Tel: +44 (0) 1483 413500
 Broker
 Nick Emerson

 Novum Securities Limited                                                                                                                                                                                                                                   Tel: +44 (0) 20 7399 9425
 Broker

 Jon Belliss

 Brand Communications                                                                                                                                                                                                                                       Tel: +44 (0) 7976 431608
 Public & Investor Relations
 Alan Green

 

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 active exploration tenements and two in application
(Ballarat and Tambo).

 

ECR also owns 100% of an Australian subsidiary LUX Exploration Pty Ltd
("LUX"), which has three approved exploration permits covering 946 km(2) over
a relatively unexplored area in Lolworth Range, Queensland, Australia. The
Company has also submitted a license application at Kondaparinga which is
approximately 120km(2) in area and located within the Hodgkinson Gold
Province, 80km NW of Mareeba, North Queensland.

 

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 holds a 90% 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.

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  BOAPPUPUGUPCUMW