ECR Minerals #ECR – Soil Geochemistry Results from License EL006184

ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to announce updated results from soil sampling and other on-going exploration activities within licence EL006184 at Creswick, Victoria, Australia.

ECR Minerals plc has 100% ownership of the Creswick Project which includes exploration tenements EL006907, EL006713 and EL006184. All licences reside north to north-east of the City of Ballarat, Victoria, Australia. The Company is exploring a number of parallel-gold mineralisation trends that are believed to extend 10km NE from the Nerrina Goldfields at Ballarat.

ECR CEO Andrew Haythorpe commented: “The ECR board is now of the opinion that the geochem results from the Davey Road prospect provides ample evidence that Creswick is host to an extended gold system, and that our decision to plan a drilling campaign and complete permit applications is fully justified. This view is further supported by the samples and anecdotal evidence of drill specks in road gutters from the Blue Gum South prospect in our ‘on the ground’ follow up to the 2021 diamond drill campaign.”

As we start to ramp up our activities ahead of the 2023 drilling campaign, I very much look forward to reporting back to you with our full Creswick drill plan, and on our activities across our other assets”

HIGHLIGHTS

• Final results from soil sampling at the newly identified Creswick Davey Road ‘CDY’ prospect have just been received.
• Results up to 1.59 ppm Au obtained at the Blue Gum South ‘BGS’ prospect.

Figures related to this announcement can be viewed here;

Figure 1: Location map

https://www.ecrminerals.com/images/2023/fig1_Overview_Map_230120.png

Figure 2: Update gold anomaly map for Davey Road Prospect (CDY)

https://www.ecrminerals.com/images/2023/fig2_Davey_Rd_update_230120.png

Figure 3: Gold anomalies identified at Blue Gum South (BGS)

https://www.ecrminerals.com/images/2023/fig3_BGS_230120.png

UPDATED SOIL RESULTS AT DAVEY ROAD

Further results have been received from soil sampling at the recently announced Davey Road Prospect ‘CDY’ (see RNS from December 22 2022 here). Plotting of all the results strongly suggests  that gold mineralisation originates from the North end of a line of historical gold workings, with another strong gold anomaly also present at the southern end of the historic workings. The Board believes these two anomalies represent the outcrop of two possible gold shoots.

GOLD ANOMALISM AT BLUE GUM SOUTH PROSPECT

Soil sampling has also been completed over a small grid area 200 metres to the north of some of the best drill intercepts from 2021’s diamond drilling (see Figure 3 above), where hole CSD003 returned 0.95m @ 9.93 g/t Au from 84.2m and 0.95m @ 23.58 g/t Au from 89.05m down hole. This grid lies within the Dimocks Main Shale trend., and the Company has named this prospect Blue Gum South ‘BGS’ after the access tracks to the area. Gold ‘specks’ can also be obtained from the road gutters within the grid. A small anomalous area of gold has been identified on the east side of the grid area with a maximum result of 1.59 ppm Au. Abundant quartz veining is visible across the hillside immediately above the anomalous area. Rock chips of the exposed part of the vein within the track have shown no gold result to date.

CDY (Creswick Davey Road Prospect), BGS (Blue Gum South Prospect)

*Co-ordinates in GDA94 Zone 54

**A complete set of results are set out in the Appendix at the end of this announcement.

NEXT STEPS

The soil exploration methodology utilised on EL006184 has proved effective in identifying blind outcrops of gold mineralisation. The anomalies identified to date will provide the foundations for a drilling program this year. Permits are being currently drafted for submission to the regional government.

Additionally, the field team have been actively sampling and mapping insitu quartz veins from exposed features accessible within historic adits, pits and trenches within EL006184 and the newly granted tenement EL006713 adjoining to the south. Added to this, the Company is also targeting other potential prospects along the strike of the Dimocks Main Shale trend. The aim of this work is to evaluate veining widths where possible and to provide some guidance in regard to possible gold grades from historical workings. This work will also form a key part of the drill programme planning process. Further details of the planning process will be released in due course. .

REVIEW OF ANNOUNCEMENT BY QUALIFIED PERSON

This announcement has been reviewed by Adam Jones, Technical Director of Exploration at ECR Minerals plc. Adam Jones is a professional geologist and is a Member of the Australian Institute of Geoscientists (MAIG). He is a qualified person as that term is defined by the AIM Note for Mining, Oil and Gas Companies.

FOR FURTHER INFORMATION, PLEASE CONTACT:

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). MGA is currently drilling at the Bailieston Blue Moon Project (EL5433) and undertaking geochemical exploration on the Creswick (EL6148) project and has an experienced exploration team with significant local knowledge in the Victoria Goldfields and wider region.

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 Queensland, Australia.

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 70% 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.

**APPENDIX 1: All reportable soil sampling results, CDY and BGS sampling grids