REG-ECR Minerals plc Funds From Sale of Bailieston Property Now Received

ECR MineralsAnnouncement

09/05/2023 07:15

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Funds From Sale of Bailieston Property Now Received

 

ECR MINERALS plc

(“ECR Minerals”, “ECR” or the “Company”)

Funds From Sale of Bailieston Property Now Received

ECR Minerals plc (LON: ECR), the gold exploration and development company
focused on Australia, is pleased to announce that further to the announcement
of 17 February 2023, the sale of the Company’s ‘Bailieston’ property
located at 127 Nagambie-Rushworth Road within the Company’s 100% owned
Bailieston license area has now completed, and the Company has now received
the settlement balance of A$603,000 (a balance of A$67,000 was received in
February 2023).

Highlights:


 * Cash sale price of A$670,000 (approximately £360k) agreed for the
Nagambie-Rushworth Road property.

 * Final balance of A$603,000 now in the Company bank account and will be used to
further explore the Company’s Queensland tenements specifically the Lolworth
Project (Gold, Lithium/Tantalum/Niobium) and Hurricane (Gold/Antimony).

 * ECR is now fully funded for all scheduled exploration activities in 2023.

 * Transaction marks the second disposal from selected non-core assets as
outlined in the announcement of July 6(th) 2022.

CEO Andrew Haythorpe commented: “I am pleased to announce the completion of
the second in a series of planned disposals of non-core assets as outlined in
our strategic plan last July. The funds from the Bailieston property sale will
bolster our cash position and ensure we are fully funded to complete our
scheduled activities at the Lolworth and Hurricane projects in Queensland this
year.”

“Discussions over further asset disposals are continuing and I look forward
to providing further updates in due course.”

FOR FURTHER INFORMATION, PLEASE CONTACT:
 ECR Minerals plc                                                                                                                                                                                                                                            Tel: +44 (0) 20 7929 1010         
 David Tang, Non-Executive Chairman                                                                                                                                                                                                                                                            
 
                                                                                                                                                                                                                                                                                             
 
Andrew Haythorpe, CEO                                                                                                                                                                                                                                                                        
                                                                                                                                                                                                                                                                                               
 Email:                                                                                                                                                                                                                                                                                        
 
                                                                                                                                                                                                                                                                                             
 
info@ecrminerals.com (mailto:info@ecrminerals.com)                                                                                                                                                                                                                                           
 Website: www.ecrminerals.com                                                                                                                                                                                                                                                                  
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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 six licence applications outstanding which includes
one licence application lodged in eastern Victoria. (Tambo gold project). MGA
is currently drilling at the Bailieston Blue Moon Project (EL5433) and
undertaking geochemical exploration on the Creswick (EL6148) project and has
an experienced exploration team with significant local knowledge in the
Victoria Goldfields and wider region.

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 Queensland, Australia.

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.



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ECR Minerals plc


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