REG-ECR Minerals plc UPDATE ON EXPLORATION <Origin Href="QuoteRef">ECRE.L</Origin>

ECR MineralsAnnouncement

01/05/2015 08:00

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LONDON--(Business Wire)--


ECR MINERALS plc

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

AIM: ECR 

US OTC: MTGDY 

UPDATE ON EXPLORATION

LONDON: 1 MAY 2015 - ECR Minerals plc is pleased to provide the following update
on activities at the Itogon gold project in the Philippines and the SLM gold
project in Argentina. 

ITOGON GOLD PROJECT, PHILIPPINES

Further to the Company`s news release dated 17 April 2015, the diamond drilling
programme which commenced at Itogon in January 2015 has now been completed. As
previously stated, the results of the drilling will be announced when assay
results for all six holes in the programme have been received and processed.
This is expected to be during May 2015. 

A programme of trenching has been designed for the main prospect area at Itogon
and is planned to commence during May 2015. The trenches are planned to be up to
5m deep and are intended to expose certain of the larger mapped quartz vein
structures and other interpreted mineralised zones, including supergene zones,
in the main prospect area. Each trench will be mapped and sampled in order to
obtain additional information regarding the geology and gold grades in the zones
exposed. 

If successful, the trenching is expected to enable a near surface inferred
resource to be estimated for the main prospect area, on the basis of the results
of drilling completed to date in combination with the results of the trenching.
Estimation of resources in the measured and indicated categories, which
represent higher levels of confidence, would require additional drilling.
Trenching may be carried out in two phases so as to allow the effectiveness of
the technique to be evaluated, with the second phase and any resource estimation
being subject to this evaluation. 

Also planned to commence during May 2015 is a detailed topographical survey of
the main prospect area at Itogon using an unmanned aerial vehicle (UAV). The
resulting data is expected to be used in resource estimation. 

SLM GOLD PROJECT, ARGENTINA

Further to the Company`s announcements dated 27 February 2015 and 17 April 2015,
field observations at the Maestro Agüero and JV prospects by the geologist
overseeing the bulk sampling programme at Maestro Agüero in March 2015 are
considered sufficiently encouraging by the directors of ECR to justify moving
ahead with a programme of further geological mapping at the JV prospect. This is
planned to commence during May 2015. 

Exploration to date by ECR`s Argentine subsidiary Ochre Mining SA, along with
historical data reported by previous explorers, indicates that JV is the largest
of the three key prospects within the SLM project area in terms of the extent of
mesothermal veins. The planned mapping programme is intended to identify
priority vein zones for bulk sampling. 

The JV prospect is located approximately six kilometres south of the Maestro
Agüero prospect, and, as at Maestro Agüero, bulk sampling would be employed to
obtain a large sample size. Given the presence of nuggety gold and coarse flecks
of secondary gold, a large sample size is necessary to ensure statistically
representative results. 

Stephen Clayson, Chief Executive Officer of ECR, commented:

"Ahead of drilling results from the Itogon project and bulk sampling results
from the Maestro Agüero prospect at SLM, both of which are expected during May
2015, the directors of ECR consider there to be sufficient potential indicated
by the data collected to date and field observations to justify pressing ahead
with additional work programmes to enhance our understanding of both projects. 

The estimation of an inferred resource at Itogon, subject to our planned
trenching programme being successful, is expected to be a valuable first
quantification of the project`s potential. 

At SLM, we hope to reach a decision during the course of 2015 as to whether
small scale gold production is likely to be viable. Current exploration has been
planned with that goal in mind." 

This announcement has been reviewed by Richard Watts B.Eng. Mining, Fellow of
the South African Institute of Mining & Metallurgy, a director of the Company
with more than 40 years of experience in the mining industry. 

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                                                     
 Emma Earl/Jo Turner                                                   
                                                                       
 Daniel Stewart & Company plc                Tel: +44 (0)20 7776 6550  
 Broker                                                                
 Martin Lampshire                                                      
 
 
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