REG-ECR Minerals plc Portfolio Update

ECR MineralsAnnouncement

02/12/2021 07:00

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Portfolio Update

 

ECR MINERALS plc

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

ECR Minerals formalises 25% shareholding in Cordillera Tiger Gold Resources,
owner of Exploration License EP-006 at the Danglay Gold Project, N Philippines

ECR Minerals plc (LON: ECR), the gold exploration and development company
focused on Australia, is pleased to announce that its 25% shareholding in
Philippines based company Cordillera Tiger Gold Resources, Inc. (“Cordillera
Tiger”, “Cordillera”) has been formalised and the Company is now in
receipt of the share certificate.

In July 2021, Cordillera Tiger successfully renewed Exploration License EP-006
at the Danglay gold project, which is located in a prolific gold and copper
mining district in the north of the Philippines.

Most recently, through Cordillera Tiger, ECR has been engaged in a Community
Development Programme in the Danglay area. Cordillera has provided foodpack
assistance, helping to get rice, canned meat & fish delivered to families
affected by COVID19 in the Danglay region.

As reported in the Annual Report on March 23(rd) 2021, ECR is entitled to a
25% interest in the Danglay gold project in the Philippines, which is held by
Philippines corporation Cordillera Tiger Gold Resources, Inc. under an
Exploration Permit. The issuance of a 25% shareholding in Cordillera Tiger to
the Company has been delayed since 2016, largely due to a court case filed by
an individual who is a minority shareholder and former director of Cordillera
Tiger. This matter was successfully resolved, and ECR’s shareholding has now
been formalised.

The ECR Board believes the political climate for the minerals industry in the
Philippines is improving and considers that the Danglay gold project has
potential for further exploration to build upon the existing inferred mineral
resource estimate of 63,500 ounces of gold at 1.55 g/t gold. This resource was
reported by ECR in 2015 to the Canadian NI43-101 standard, based on
exploration carried out at Danglay by ECR during 2014 and 2015. In addition to
the resource, an NI43-101 target for further exploration (conceptual potential
quantity and grade of mineralisation expressed as ranges) of 95,000 to 170,000
ounces of gold at 5 to 7.5 g/t was reported.

ECR Chairman David Tang commented: “I am pleased to report that after a
lengthy delay, our 25% shareholding in Cordillera Tiger has now been
formalised and we are now in possession of the documentation and share
certificate. Shareholders will of course know that ECR’s priority and focus
is on developing its Australian assets, but with our commitment to helping the
Danglay community and our £1.2 million investment in the Danglay gold project
to date, we believe the resolution of this longstanding issue and the
improving political climate adds material value to the ECR asset portfolio.”

MARKET ABUSE REGULATION (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) as in force in the United Kingdom pursuant to the
European Union (Withdrawal) Act 2018. 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                                                                                                                                                                                                                                                                              
                                                                                                                                                                                                                                                                                                                 
 Email:                                                                                                                                                                                                                                                                                                          
 
                                                                                                                                                                                                                                                                                                               
 info@ecrminerals.com (mailto:info@ecrminerals.com)                                                                                                                                                                                                                                                              
 Website: www.ecrminerals.com                                                                                                                                                                                                                                                                                    
 (https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.ecrminerals.com%2F&esheet=52543699&newsitemid=20211201006206&lan=en-US&anchor=www.ecrminerals.com&index=1&md5=5e7d0216e4cddf5c79c67b67bf532b3c)                                                                                           
                                                                                                                                                                                                                                                                                                                 
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 Nominated Adviser                                                                                                                                                                                                                                                                                               
                                                                                                                                                                                                                                                                                                                 
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 Nick Emerson                                                                                                                                                                                                                                                                                                    
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 Jon Belliss                                                                                                                                                                                                                                                                                                             
                                                                                                                                                                                                                                                                                                                         
 Blytheweigh                                                                                                                                                                                                                                             Tel: +44 (0) 207 138 3204                                       
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 Tim Blythe                                                                                                                                                                                                                                                                                                              
 
                                                                                                                                                                                                                                                                                                                       
                                                                                                                                                                                                                                                                                                                         


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/
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fmercatorgold.com.au%2F&esheet=52543699&newsitemid=20211201006206&lan=en-US&anchor=https%3A%2F%2Fmercatorgold.com.au%2F&index=2&md5=116ad15c4f194a7f1515730fa538f748)

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 Queesnland, Australia.

https://luxexploration.com/
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fluxexploration.com%2F&esheet=52543699&newsitemid=20211201006206&lan=en-US&anchor=https%3A%2F%2Fluxexploration.com%2F&index=3&md5=0dee94b9eb7bcdcd864714435b7166d7)

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 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.



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ECR Minerals plc


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