ECR Minerals plc (the “Company”) is a mineral exploration and development company incorporated in England & Wales. ECR’s wholly owned Australian subsidiary Mercator Gold Australia Pty Ltd has 100% ownership of the Avoca, Bailieston, Moormbool and Timor gold exploration licences in Central Victoria, Australia.

Exploration for gold in Victoria is ECR’s current focus. A map of the Victorian licences can be viewed here. For the latest updates, please see our regulatory announcements.

ECR has earned a 25% interest in the Danglay epithermal gold project, an advanced exploration project located in a prolific gold and copper mining district in the north of the Philippines. An NI43-101 technical report was completed in respect of the Danglay project in December 2015.

ECR’s wholly owned Argentine subsidiary Ochre Mining has 100% ownership of the SLM gold project in La Rioja, Argentina. Exploration at SLM has focused on identifying small tonnage mesothermal gold deposits which may be suitable for relatively near-term production.

ECR shares are listed on the AIM market of the London Stock Exchange with the symbol ECR.

ECR Minerals plc announces that on 28 November 2011 it received confirmation that Fair Choice Ltd, a company controlled by Michael Silver, Executive Chairman of ECR, has purchased from a third party convertible loan notes of the Company totalling £125,000 in principal amount. The transaction was effective as of 22 November 2011. The convertible loan notes bear interest at 10% per annum and are convertible at any time into new ordinary shares of the Company of 0.1 pence each (“Ordinary Shares”) based on a price of 1.1 pence per Ordinary Share. If not converted, the loan notes are to be redeemed on 17 October 2013.

 

In addition to the convertible loan notes that are the subject of this disclosure, Michael Silver is beneficially interested in 17,716,406 ordinary shares of the Company, representing approximately 2.94 per cent of the Company’s total issued share capital.

 

For further information please contact:

ECR Minerals plc
Michael Silver, Chairman Tel: +44 (0) 20 7929 1010
Patrick Harford, Managing Director
Stephen Clayson, Director
Luca Tenuta, Non-Executive Director
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Daniel Stewart & Company plc
Oliver Rigby/Tessa Smith Tel: +44 (0) 20 7776 6550
Old Park Lane Capital plc
Michael Parnes Tel: +44 (0) 20 7493 8188
Blythe Weigh Communications
Ana Ribeiro Tel: +44 (0)20 7138 3204
Barry Kaplan Associates
Larry Kaplan Tel: +1 732 747 0702