REG-ECR Minerals plc Update on Due Diligence <Origin Href="QuoteRef">ECRE.L</Origin>

ECR MineralsAnnouncement

05/03/2015 07:34

http://pdf.reuters.com/htmlnews/8knews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20150305:nBw046607a 
 
LONDON--(Business Wire)--


ECR MINERALS plc

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

AIM: ECR 

US OTC: MTGDY 

UPDATE ON DUE DILIGENCE

LONDON: 5 MARCH 2015 - ECR Minerals plc advises that further to its
announcements dated 18 December 2014 and 20 February 2015, the Company`s due
diligence in respect of Mae Fah Mining Co., Ltd ("Mae Fah") and the Phang Nga
lithium-tantalum-tin project in Thailand has been completed, and ECR has decided
not to proceed with the transaction. 

Stephen Clayson, Chief Executive Officer of ECR, commented:

"While there were interesting aspects to the Phang Nga project, in the final
determination our due diligence standards were not met. ECR continues to review
a small number of other potential new projects, but would only proceed with an
opportunity which the directors believe is of sufficient merit to materially
strengthen ECR as an investment proposition. 

Separately, we are continuing to advance the Itogon and SLM gold projects in the
Philippines and Argentina, respectively. We look forward to announcing results
from our announced exploration programmes, which include diamond drilling at the
Itogon project, in due course." 

ABOUT ECR

ECR is a mineral exploration and development company with, among other
interests, the right to earn a 50% interest in the Itogon gold project in the
Philippines. Itogon is an advanced exploration project located in a gold and
copper mining district in the north of the Philippines. 

ECR has a 100% interest in the SLM gold project in La Rioja Province, Argentina,
the exploration strategy for which is to delineate multiple medium to high
grade, low tonnage deposits suitable for advancement to production on a
relatively low capital, near term basis. 

ECR continues to review potential new investments on a highly selective basis,
with a concentration on precious, base and strategic metals projects in Asia and
South America. 

FOR FURTHER INFORMATION PLEASE CONTACT:

ECR Minerals plc Tel: +44 (0)20 7929 1010 

Paul Johnson, Non-Executive Chairman 

Stephen Clayson, Director & CEO 

Richard (Dick) Watts, Technical Director 

Email: info@ecrminerals.com

Website: www.ecrminerals.com

Cairn Financial Advisers LLP Tel: +44 (0)207 148 7900 

Nominated Adviser 

Jo Turner/Emma Earl 

Daniel Stewart & Company plc Tel: +44 (0)20 7776 6550 

Broker 

Colin Rowbury 

FORWARD LOOKING STATEMENTS

This announcement may include forward looking statements. Such statements may be
subject to a number of known and unknown risks, uncertainties and other factors
that could cause actual results or events to differ materially from current
expectations. There can be no assurance that such statements will prove to be
accurate and therefore actual results and future events could differ materially
from those anticipated in such statements. Accordingly, readers should not place
undue reliance on forward looking statements. Any forward looking statements
contained herein speak only as of the date hereof (unless stated otherwise) and,
except as may be required by applicable laws or regulations (including the AIM
Rules for Companies), the Company disclaims any obligation to update or modify
such forward looking statements as a result of new information, future events or
for any other reason. 
 
ECR Minerals plc 

Copyright Business Wire 2015