REG-ECR Minerals plc Property purchase within in the Bailieston License Area

ECR MineralsAnnouncement

13/09/2021 07:30

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Property purchase within in the Bailieston License Area

 

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 £3,874.779.94 (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 (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=52490535&newsitemid=20210912005074&lan=en-US&anchor=www.ecrminerals.com&index=1&md5=9616758c839960176d3c181346b842af)                                                                  
                                                                                                                                                                                                                                                                                        
 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/
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fmercatorgold.com.au%2F&esheet=52490535&newsitemid=20210912005074&lan=en-US&anchor=https%3A%2F%2Fmercatorgold.com.au%2F&index=2&md5=b3f9ee6a4f034e4f61b54e7f55659ff0)

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/
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fluxexploration.com%2F&esheet=52490535&newsitemid=20210912005074&lan=en-US&anchor=https%3A%2F%2Fluxexploration.com%2F&index=3&md5=311258da848b1491d18b96071fc3acc2)

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.



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ECR Minerals plc


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