ECR Minerals plc UK Regulatory Announcement: New Australian Gold Exploration Licence Issued

LONDON–()–

AIM: ECR
US OTC: MTGDY

ECR MINERALS plc
(“ECR Minerals”, “ECR” or the “Company”)

NEW AUSTRALIAN GOLD EXPLORATION LICENCE ISSUED

LONDON: 18 July 2017 – The directors of ECR Minerals plc are
pleased to announce that the Company’s wholly owned Australian
subsidiary Mercator Gold Australia Pty Ltd (“MGA”) has been issued a new
gold exploration licence (EL006280) in Victoria, Australia. This licence
is to be known as the Moormbool project, and lies within the highly
prospective Costerfield Domain. The licence is centred approximately
10km northeast of the high-grade Costerfield gold-antimony mine operated
by Mandalay Resources.

About the Moormbool project (EL006280)

The Moormbool licence covers approximately 59 square kilometres and
covers an area linking the Redcastle and Graytown goldfields east of a
large regional fault. Due to pervasive alluvial cover, the licence area
is largely unexplored.

In close proximity to this regional structure and included within the
licence is a magnetic anomaly interpreted to be a small intrusive plug
or cupola. The Company interprets that if this is an intrusion, it may
be genetically linked to the source of the gold mineralisation and a
good target for exploration.

EL006280 was registered on 11 July 2017 and is valid for a term of five
years from that date, subject to the conditions of the licence. The
principal conditions include a requirement for minimum exploration
expenditures totalling AUD 136,950 over the five years. Only low impact
exploration may be undertaken in the licence area until a work plan
submitted by MGA has been approved by the Victorian authorities. MGA
does not expect to submit a work plan until targets for…

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