REG - ECR Minerals PLC - Further re the sale of Non-Core Assets

WH IrelandAnnouncement

15/01/2024 14:00

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RNS Number : 7305Z  ECR Minerals PLC  15 January 2024

ECR MINERALS plc

("ECR Minerals" or the "Company")

Further to the Sale of Non-Core Assets

ECR Minerals plc (LON:ECR), the exploration and development company focused
on gold in Australia, is pleased to confirm that further to its announcement
of December 18 2023 re the sale of non-core assets (see RNS here
(https://polaris.brighterir.com/public/ecr_minerals_plc/news/rns/story/rgg0o7r)
), ECR's Australian subsidiary Mercator Gold Australia Pty Limited
("Mercator") has today received the first payment of A$53,000 (excluding GST)
relating to the hire purchase sale agreement with a mining operations company
for its Coretech Drilling Rig.

The total sale consideration for the Coretech Drilling Rig is A$350,000. A
further A$33,000 is due every month for nine months until title in the asset
transfers. The full payment obligations under the agreement are guaranteed by
a related company to the purchaser.

Additional Disposals

ECR continues to push ahead with plans to sell its remaining non-core assets
including 20 acres of land at Springmount in Victoria. Further updates will be
provided as appropriate.

The monies raised from these sales will be utilised to progress work on the
Company's portfolio.

FOR FURTHER INFORMATION, PLEASE CONTACT:

 ECR Minerals plc                                                                                                                                                                                                                                           Tel: +44 (0) 20 7929 1010
 David Tang, Non-Executive Chairman

 Nick Tulloch, Managing Director

 Andrew Scott, Director
 Email:

 info@ecrminerals.com (mailto:info@ecrminerals.com)
 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)

 WH Ireland Ltd                                                                                                                                                                                                                                             Tel: +44 (0) 207 220 1666
 Nominated Adviser

 Katy Mitchell / Andrew de Andrade

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

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 Broker

 Jon Belliss

 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. 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 six licence applications outstanding which includes one licence
application lodged in eastern Victoria (Tambo gold project).

 

ECR also owns 100% of an Australian subsidiary LUX Exploration Pty Ltd ("LUX")
which has three approved exploration permits covering 946 km2 over a
relatively unexplored area in Lolworth Range, Queensland, Australia. The
Company has also submitted a license application at Kondaparinga which is
approximately 120km2 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 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 90% 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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