Gold & Niobium Rock Chip Results from the Lolworth Project

LONDON, August 15, 2023--(BUSINESS WIRE)--

ECR MINERALS plc

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

Gold and Niobium Rock Chip Results from the Lolworth Project, Queensland

ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to announce the results from the first batch of rock chips at the Lolworth Project, Queensland.

ECR Minerals plc has 100% ownership of three exploration tenements (EPM27901, EPM27902 and EPM27903), which covers the Lolworth Range, located 120km west of the famous gold district of Charters Towers. Previous exploration campaigns from 2021 have identified the presence of Gold (Au), Niobium-Tantalum (Nb-Ta) and REE mineralisation within the licenced area. The project is being explored under ECR’s Australian wholly owned subsidiary Lux Exploration Pty Ltd ("LUX").

HIGHLIGHTS

Gold results from outcrop in the Reedy Creek area of 22 g/t Au and 0.54 g/t Au.

Niobium results up to 96.7 ppm from Pegmatite outcrops in the headwaters of Oaky Creek.

CEO Andrew Haythorpe commented: "Further great work from Adam Jones and the field team in collating and defining the key areas of interest at our Lolworth project. Exploring and mapping a large area of virgin territory requires an organised and disciplined approach, but it is rapidly becoming evident that thanks to the diligence of our field team, we are zeroing in on areas with high potential at Oaky Creek and Reedy Creek."

I look forward to reporting further news in the coming weeks."

(Figure One) Map of the anomalous Niobium areas identified from soil sampling and rock chips to date in the headwaters of Oaky Creek:

Figure One: https://www.ecrminerals.com/images/2023/Fig1_Nb_Chips_230815.png

NIOBIUM ROCK CHIP RESULTS

A total of 74 rock chips were taken from outcropping pegmatites that abound within a highly anomalous niobium stream catchment area forming part of the upper end of Oaky Creek. Previous results from this stream for Niobium and Tantalum indicated the mineralisation source was likely to exist within the amphitheatre of this ridgeline (see Figure One above), and this was supported by pXRF analysis of soil samples taken and analysed with our hand held pXRF device (see announcement dated July 22 2023 here). The best Niobium samples were located on the western edge of the drainage area (see Figure One), and it was noted that these pegmatites had been silicified and albatised. Results up to 96.7 ppm Nb were recorded, along with results across a further twelve samples all greater than 50 ppm Nb. Our team continue to systematically work across a large area, collecting further rock chip samples, and the Board believes that the combination of previous soil sample results and follow-up rock chip samples could ultimately lead our team to a potential source of mineralisation.

REEDY CREEK AREA

Reedy Creek has been a focus for gold mineralisation for the ECR field team. An initial selection of 28 rock chip samples were taken from the hill slopes within the catchment area where visible coarse gold had been noted in the pan concentrate samples and where gold nuggets were located on the slopes above the best pan concentrate results. Only two rock chip samples to date have shown gold mineralisation, with a best result of 22 g/t Au obtained from a large quartz outcrop on one of the hillsides. A rock chip sample returning 0.54 g/t Au was obtained from a narrow quartz sub-crop residing on a spur ridge situated between two gold bearing creek drainages. The Board have concluded that the Reedy Creek area is host to gold mineralisation only.

FOLLOW UP ACTIVITIES

The field team has now moved further to the south of the project area to follow up gold bearing drainages. Prior to this move, a further batch of stream samples were submitted from streams on the western and southern side of Reedy Creek, some of which showed visible gold. The Board believes this could lead to another potential anomalous gold bearing area.

A programme of further defined soil sampling has been undertaken across the best results previously identified from the preliminary soil grid. These will be also analysed for Niobium by pXRF this month. The Board believes that these results will guide to better outcrops, that can in turn be followed up with rock chip sampling to confirm the presence of Niobium. The timing of this work is governed by cattle mustering activities in the area, but nonetheless it is expected that the work will be completed within the next few weeks.

Exploration is also continuing to the south of Reedy Creek on an adjoining cattle grazing property. The creeks observed within the area are geologically similar to Reedy Creek where coarse gold is present. The field team will map the area and take rock chips from the creek headwaters during the month, with results expected approximately 15 days from the samples arriving at the laboratory.

Separately, a large rock chip programme is scheduled to commence shortly at the Hurricane Project, located 400km north of the Lolworth Project.

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:

ECR Minerals plc

Tel: +44 (0) 20 7929 1010

David Tang, Non-Executive Chairman

Andrew Haythorpe, CEO

Email:

[email protected]

Website: www.ecrminerals.com

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

Novum Securities Limited

Tel: +44 (0) 20 7399 9425

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). 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 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.

APPENDIX ONE

TABLE ONE: All Gold and Niobium results from rock chips, Lolworth Project, QLD.

(Locations reported as GDA94 Zone 55).

1ppm = 1 g/t.

Analysis not undertaken for samples noted (n/a)

SampleID

Easting

Northing

Au ppm

Nb ppm

Prospect

LWC042

313494

7756228

0.01

27.5

Oaky Creek

LWC043

313502

7756240

0.01

17.3

Oaky Creek

LWC044

313499

7756246

0.01

19.75

Oaky Creek

LWC045

313527

7756275

0.01

19.35

Oaky Creek

LWC046

313486

7756222

0.01

28.1

Oaky Creek

LWC047

313483

7756249

0.01

17.25

Oaky Creek

LWC048

313460

7756240

0.01

Oaky Creek

LWC049

313442

7756225

0.01

60.3

Oaky Creek

LWC050

313421

7756226

0.01

48.4

Oaky Creek

LWC051

313696

7756260

0.01

18.4

Oaky Creek

LWC052

313684

7756253

0.01

22.5

Oaky Creek

LWC053

313679

7756246

0.01

33.7

Oaky Creek

LWC054

313716

7756272

0.01

Oaky Creek

LWC055

313708

7756260

0.01

47.9

Oaky Creek

LWC056

313779

7756324

0.01

Oaky Creek

LWC057

313798

7756332

0.01

21.6

Oaky Creek

LWC058

313786

7756326

0.01

12.15

Oaky Creek

LWC059

313791

7756330

0.01

21.5

Oaky Creek

LWC060

313781

7756381

0.01

18.7

Oaky Creek

LWC061

313747

7756393

0.01

47.3

Oaky Creek

LWC062

313728

7756366

0.01

39.1

Oaky Creek

LWC063

313731

7756367

0.01

48.8

Oaky Creek

LWC064

313597

7756418

0.01

48.3

Oaky Creek

LWC065

313585

7756484

0.01

16.6

Oaky Creek

LWC066

313589

7756487

0.01

26.1

Oaky Creek

LWC067

313593

7756487

0.01

20.9

Oaky Creek

LWC068

313609

7756499

0.01

66.8

Oaky Creek

LWC069

313592

7756496

0.01

29.9

Oaky Creek

LWC070

313575

7756496

0.01

9.49

Oaky Creek

LWC071

313577

7756506

0.01

69.9

Oaky Creek

LWC072

313568

7756503

0.01

52.4

Oaky Creek

LWC073

313562

7756501

0.01

53.5

Oaky Creek

LWC074

313544

7756505

0.01

89.9

Oaky Creek

LWC075

313527

7756510

0.01

38.4

Oaky Creek

LWC076

313494

7756524

0.01

26.5

Oaky Creek

LWC077

313477

7756523

0.01

30.4

Oaky Creek

LWC078

313346

7756354

0.01

Oaky Creek

LWC079

313337

7756337

0.01

35.2

Oaky Creek

LWC080

313326

7756341

0.01

50.5

Oaky Creek

LWC081

313342

7756316

0.01

Oaky Creek

LWC082

313329

7756400

0.01

Oaky Creek

LWC083

313322

7756402

0.01

Oaky Creek

LWC084

313328

7756381

0.01

54.9

Oaky Creek

LWC085

313346

7756406

0.01

54.9

Oaky Creek

LWC086

313292

7756509

0.01

24.4

Oaky Creek

LWC087

313320

7756543

0.01

24.1

Oaky Creek

LWC088

313344

7756629

0.01

21.2

Oaky Creek

LWC089

313348

7756718

0.01

21.5

Oaky Creek

LWC090

313415

7756749

0.01

25.2

Oaky Creek

LWC091

313457

7756716

0.01

35.9

Oaky Creek

LWC092

313245

7756755

0.01

55.8

Oaky Creek

LWC093

312788

7756921

0.01

38.1

Oaky Creek

LWC094

312982

7756984

0.01

48.2

Oaky Creek

LWC095

313321

7756855

0.01

n/a

Oaky Creek

LWC096

313319

7756855

0.01

n/a

Oaky Creek

LWC097

313334

7756840

0.01

n/a

Oaky Creek

LWC098

313337

7756838

0.01

n/a

Oaky Creek

LWC099

313344

7756830

0.01

n/a

Oaky Creek

LWC100

313325

7756851

0.01

n/a

Oaky Creek

LWC101

313280

7756885

0.01

n/a

Oaky Creek

LWC102

313277

7756885

0.01

n/a

Oaky Creek

LWC103

313275

7756887

0.01

n/a

Oaky Creek

LWC104

313690

7757013

0.01

11.7

Oaky Creek

LWC105

313813

7756797

0.01

96.7

Oaky Creek

LWC106

314005

7756979

0.01

n/a

Oaky Creek

LWC107

314006

7756983

0.01

n/a

Oaky Creek

LWC108

313992

7757001

0.01

n/a

Oaky Creek

LWC109

313987

7757009

0.01

n/a

Oaky Creek

LWC110

313978

7757036

0.01

n/a

Oaky Creek

LWC111

312980

7755519

0.01

n/a

LWC112

312926

7755451

0.01

n/a

LWC113

312921

7755432

0.01

n/a

LWC114

312914

7755419

0.15

n/a

LWC115

312915

7755425

0.04

n/a

LWC116

309981

7751194

0.01

n/a

Reedy Creek

LWC117

309625

7750905

0.01

n/a

Reedy Creek

LWC118

309572

7750895

0.01

n/a

Reedy Creek

LWC119

309462

7751029

0.01

n/a

Reedy Creek

LWC120

309566

7751038

0.01

n/a

Reedy Creek

LWC121

309563

7751039

0.01

n/a

Reedy Creek

LWC122

309560

7751034

0.01

n/a

Reedy Creek

LWC123

308911

7751039

0.01

n/a

Reedy Creek

LWC124

309346

7750941

0.06

n/a

Reedy Creek

LWC125

309346

7750941

0.04

n/a

Reedy Creek

LWC126

309346

7750941

n/a

Reedy Creek

LWC127

309345

7750936

0.02

n/a

Reedy Creek

LWC128

309341

7750932

0.13

n/a

Reedy Creek

LWC129

309314

7750910

0.01

n/a

Reedy Creek

LWC130

309308

7750910

0.01

n/a

Reedy Creek

LWC131

309234

7750811

0.01

n/a

Reedy Creek

LWC132

309371

7750807

0.01

n/a

Reedy Creek

LWC133

309330

7750867

0.01

n/a

Reedy Creek

LWC134

309360

7750937

0.02

n/a

Reedy Creek

LWC135

309413

7751029

0.01

n/a

Reedy Creek

LWC136

309408

7751026

0.54

n/a

Reedy Creek

LWC137

309425

7750721

0.02

n/a

Reedy Creek

LWC138

309439

7750768

0.01

n/a

Reedy Creek

LWC139

309441

7750766

0.01

n/a

Reedy Creek

LWC140

309444

7750763

0.01

n/a

Reedy Creek

LWC141

309444

7750807

0.01

n/a

Reedy Creek

LWC142

309442

7750808

0.01

n/a

Reedy Creek

LWC143

309443

7750807

0.01

n/a

Reedy Creek

LWC144

313202

7757630

0.01

21.6

Oaky Creek Nb-Ta

LWCA38

313651

7756090

0.01

13.2

Oaky Creek

LWCA39

313639

7756200

0.01

27.8

Oaky Creek

LWCA40

313488

7756224

0.01

23.1

Oaky Creek

LWCA41

313477

7756220

0.01

27.4

Oaky Creek

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ECR Minerals plc

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