REG - ECR Minerals PLC - Update on Royalty of up to A$2 Million

ECR MineralsAnnouncement

Mon 07:00

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RNS Number : 6757W  ECR Minerals PLC  16 March 2026

 

 

16 March 2026

 

ECR MINERALS PLC

 

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

 

Update on Royalty of up to A$2 Million over Victoria gold projects

 

ECR Minerals plc (AIM: ECR), the gold exploration and development company
focused on Australia, notes that Leviathan Metals Corp. has entered into an
agreement to sell its Timor Gold project in Victoria, Australia to Au Gold
Corp. (TSX: AUGC).  As part of this sale, ECR has consented to an assignment
of the royalty interest that it holds over the Timor Gold project.

 

Highlights

•     ECR retains a royalty interest of up to A$2 million over the Avoca
and Timor licences in Victoria

•     Royalty payments are linked to future resource estimates and gold
production

•     ECR's royalty interest over the Timor Gold project licence is
being assigned by Leviathan Metals Corp. to Havelock Gold, a subsidiary of Au
Gold Corp.

 

The royalty originates from ECR's 2020 sale of certain gold projects in
Victoria through which ECR's wholly owned subsidiary, ECR Minerals (Australia)
Pty Ltd, is entitled to receive the following in respect of the Avoca and
Timor projects:

 

1.    A$1 per ounce of gold or gold equivalent defined within a measured,
indicated or inferred mineral resource estimate within the licences, capped at
A$1,000,000; and

 

2.    A$1 per ounce of gold or gold equivalent produced from the licences,
capped at A$1,000,000.

 

Aside from providing consent for the assignment of the royalty, the Company is
not directly involved in the transaction. The assignment of the Timor project
royalty to Havelock Gold includes appropriate warranties and indemnities to
ensure the continued performance of the royalty arrangements previously agreed
with Leviathan Metals Corp.  ECR's Avoca project royalty interest remains
with Leviathan Metals Corp.

 

While ECR has no operational involvement in these licences, the Board believes
the royalty represents potential future upside for ECR shareholders should
exploration or development activities progress.

 

Nick Tulloch, Chairman of ECR Minerals, commented: "We consider that the Avoca
and Timor royalty represents a potentially valuable legacy asset within ECR's
portfolio which could deliver up to A$2 million to the Company.  Importantly,
this royalty sits alongside our core Australian portfolio and requires no
further capital investment from ECR, meaning any future payments would
represent a direct financial benefit to the Company.

 

"With strong gold prices and renewed exploration interest in Victoria, we look
forward to engaging with Havelock Gold to better understand their plans for
the licence and the potential to unlock this value for our shareholders."

 

FOR FURTHER INFORMATION, PLEASE CONTACT:

 

 ECR Minerals plc                                                                                                                                                                                                                                   Tel: +44 (0) 20 8080 8176
 Nick Tulloch, Chairman                                                                                                                                                                                                                             info@ecrminerals.com (mailto:info@ecrminerals.com)

 Andrew Scott, Director

 Website: www.ecrminerals.com
 (http://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.ecrminerals.com%2F&esheet=51817334&newsitemid=20180605005810&lan=en-US&anchor=www.ecrminerals.com&index=1&md5=820ad49dc1fc2c84a0538453c017bc1b)

 Allenby Capital Limited                                                                                                                                                                                                                            Tel: +44 (0) 3328 5656
 Nominated Adviser and Joint Broker                                                                                                                                                                                                                 info@allenbycapital.com (mailto:info@allenbycapital.com)

 Alex Brearley / Nick Naylor / Vivek Bhardwaj (Corporate Finance)

 Kelly Gardiner (Sales and Corporate Broking)

 OAK Securities                                                                                                                                                                                                                                     Tel: +44 (0) 203 973 3678

 Joint Broker

 Jerry Keen / Robert Bell

 Axis Capital Markets Limited                                                                                                                                                                                                                       Tel: +44 (0) 203 026 0320
 Joint Broker
 Lewis Jones

 SI Capital Ltd                                                                                                                                                                                                                                     Tel: +44 (0) 1483 413500
 Joint Broker
 Nick Emerson

 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 operating
through three wholly owned Australian subsidiaries ECR Minerals (Australia)
Pty Ltd ("ECR Australia"), ECR Minerals (Queensland) Pty Ltd ("ECR
Queensland") and ECR Minerals (Raglan) Pty Ltd ("ECR Raglan").

 

ECR Australia owns the Bailieston and Creswick gold projects in central
Victoria, Australia as well as the Tambo gold project in eastern Victoria.

 

Raglan Resources has a mining lease at the Raglan alluvial gold project in
central Queensland, Australia and ECR Queensland has two approved exploration
permits over the nearby Blue Mountain alluvial gold project.  ECR is
currently working to bring both projects into production.  ECR Queensland
also has three approved exploration permits covering 946 km(2) over a
relatively unexplored area in Lolworth Range in northern Queensland.
Furthermore, it has also submitted a licence application at Kondaparinga which
is approximately 120km(2) in area and located within the Hodgkinson Gold
Province, 80km NW of Mareeba, North Queensland.

 

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 Metals Corp
(TSX-V: LVX), ECR Australia has the right to receive up to A$2 million in
payments subject to future resource estimation or production from these
projects.

 

ECR Australia also has approximately A$76 million of unutilised tax losses
incurred during previous operations.

 

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