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Update on Creswick Gold Project, Victoria, Australia

--(BUSINESS WIRE)--  LONDON

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

UPDATE ON CRESWICK GOLD PROJECT,VICTORIA, AUSTRALIA

(LON: ECR), the precious metals exploration and development company, is pleased to announce the results of further analysis of samples from reverse circulation (RC) drilling completed earlier this year at the Creswick gold project in .ECR Minerals plcVictoria, Australia

The Creswick project is 100% held by ECR’s wholly owned Australian subsidiary (“MGA”).Mercator Gold Australia Pty Ltd

HIGHLIGHTS

, Chief Executive Officer of , commented:Craig BrownECR Minerals plc

“These results confirm the presence of nuggety gold mineralisation in the (DMS) at Creswick, some of which is very high grade.Dimocks Main Shale

MGA’s tenement position at Creswick covers approximately 7 kilometres of the DMS trend, and our drilling earlier this year only tested approximately 300 metres of this.

We therefore believe there is significant potential upside in the project, and we are now considering how best to build on the results obtained from Creswick to date to create value for ECR shareholders.

Creswick is one of five projects owned by ECR within the goldfields and forms part of what is rapidly becoming a highly significant and strategic portfolio in the region.”Victoria

FURTHER INFORMATION

The initial results of RC drilling at Creswick by MGA were announced on , and there was evidence that the results were subject to a nugget effect.8 May 2019

In order to assess the significance of this effect, MGA’s consultants devised a testing program using gravity and electrostatic concentration (GEC) on full bags of RC drill cuttings, which would constitute the whole sample recovered from each metre of drilling (less sub-samples obtained at the time of drilling via a splitter mounted on the drill rig).

In nuggety gold systems, increasing sample size increases the chance of nuggets being captured in the sample, and thus being appreciated as part of the gold endowment of the system.

Typically, only a small sub-sample of the drill cuttings generated by each metre of RC drilling is analysed (assayed) for gold. In the case of MGA’s 2019 RC drilling at Creswick, two sub-samples of approximately 2 kilograms were obtained from the rig-mounted splitter, out of up to approximately 30 kilograms of cuttings per metre. The first sub-sample was sent for assay by the Leachwell method at , an independent laboratory in , and the results were announced on .Gekko SystemsVictoria8 May 2019

Using the GEC method on the full bags, MGA was able to subject larger, more representative sample sizes to analysis. More details regarding the GEC testing process are given in ECR’s announcement dated , which can be viewed at the following link:27 August 2019

https://polaris.brighterir.com/public/ecr_minerals_plc/news/rns/story/xq2j1qx

In parallel, 74 duplicate sub-samples obtained at the time of drilling via the rig-mounted splitter have been analysed by the Leachwell method at . This has been done to enable comparison with the assay results (obtained by the same method) for the first set of sub-samples, which will assist in classifying the nugget effect as extreme, major or minor.Gekko Systems

RESULTS OF ANALYSIS

A total of 129 ‘full-bag’ samples were analysed using the GEC process.

Table 1: Assay results for all intervals with at least one result >0.1 g/t gold

x = below detection ANC = analysis not conducted

COMPETENT PERSON STATEMENT

The information in this announcement that relates to exploration results is based on information compiled by Dr of provides geological services to , including the services of , who has a PhD in geology, is a Member and RPGeo of the and is a Member of the . has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. consents to the inclusion in the announcement of the material based on his information in the form and context in which it appears.Rodney BoucherDr BoucherDr BoucherDr BoucherLinex Pty Ltd.Linex Pty LtdMercator Gold Australia Pty LtdAustralian Institute of GeoscientistsAustralasian Institute of Mining and Metallurgy

MARKET ABUSE REGULATIONS (EU) No. 596/2014

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (MAR). Upon the publication of this announcement via (RIS), this inside information is now considered to be in the public domain.Regulatory Information Service

FOR FURTHER INFORMATION, PLEASE CONTACT:

ECR is a mineral exploration and development company. ECR’s wholly owned Australian subsidiary has 100% ownership of the Avoca, Bailieston, Creswick, Moormbool and Timor gold exploration licences in central and the Windidda gold project in the Yilgarn region, .ABOUTECR MINERALS PLC
Mercator Gold Australia Pty LtdVictoria, AustraliaWestern Australia

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 . An NI43-101 technical report was completed in respect of the Danglay project in and is available for download from ECR’s website.the PhilippinesDecember 2015

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

ECR Minerals plc

Source:ECR Minerals plc

  • Final results have been received from 129 ‘full bag’ tests and assay of 74 duplicate sub-samples collected when drilling. The highest grade duplicate result of 80.97 g/t gold came from a 1 metre interval that originally assayed 44.63 g/t (announced on ). The ‘full bag’ test of the remainder of the material gave a result close to the average of the two sub-samples at 63.03 g/t (announced ).8 May 201927 August 2019
  • Grade variability due to the nugget effect has been demonstrated, but some consistency between results has been seen, and indicates the effect may be less severe than initially thought.
  • The data generated has been provided to Dr , a noted expert on nuggety gold systems, for geostatistical analysis to quantify the nugget effect and evaluate the representativeness of the larger samples. The findings of this work will guide ECR’s next steps at Creswick.Simon Dominy
  • On the basis of work undertaken to date ECR considers Creswick a highly important strategic project as part of MGA’s goldfields portfolio of five projects.Victoria
  • In the case of 102 samples, no gold had been detected in the first sub-sample analysed by the Leachwell method. In 6 of these samples, the GEC process detected gold (up to 0.55 g/t).
  • In the case of 9 samples, the GEC process returned a higher gold grade than analysis of the first sub-sample.
  • In the case of a further 9 samples, the GEC process returned a lower gold grade than analysis of the first sub-sample.
  • In the case of a further 9 samples in which gold had been detected in analysis of the first sub-sample (up to 0.11 g/t), no gold was detected by the GEC process.

Hole

From (m)

To (m)

First

sub-sample (g/t gold)

Second

sub-sample

(g/t gold)

GEC test

(g/t gold)

CSR006

15

16

44.63

80.97

63.03

CSR012

52

53

2.49

2.35

2.28

CSR006

14

15

0.12

0.11

0.11

CSR006

22

23

0.39

0.68

1.38

CSR010

85

86

0.27

0.78

1.32

CSR011

8

9

0.27

0.18

0.59

CSR010

84

85

x

x

0.02

CSR001

16

17

0.29

2.97

0.51

CSR011

6

7

0.63

0.32

0.02

CSR006

17

18

0.15

0.42

0.18

CSR007

39

40

0.22

0.52

0.01

CSR012

53

54

0.28

0.07

0.24

CSR006

18

19

0.06

x

0.30

CSR006

20

21

x

0.10

0.12

CSR001

18

19

0.11

x

0.01

CSR001

19

20

0.07

x

x

CSR001

11

12

0.06

x

x

CSR004

36

37

0.00

ANC

0.55

CSR007

52

53

0.00

ANC

0.34

CSR001

15

16

0.25

ANC

0.01

CSR010

81

82

0.00

ANC

0.23

CSR011

19

20

0.14

ANC

0.18

CSR006

16

17

0.11

ANC

0.17

CSR006

47

48

0.00

ANC

0.13

CSR007

38

39

0.11

ANC

0.00

CSR004

22

23

0.11

ANC

0.09

 ECR Minerals plc

Tel: +44 (0)20 7929 1010

, Non-Executive ChairmanDavid Tang

, Director & CEOCraig Brown

Email:

[email protected]

Website:www.ecrminerals.com

WH Ireland Ltd

Tel: +44 (0)161 832 2174

Nominated Adviser

/Katy MitchellJames Sinclair-Ford

SI Capital Ltd

Tel: +44 (0)1483 413500

Broker

 

Nick Emerson

 

 

 

Quick facts: ECR Minerals PLC

Price: 0.7051

Market: AIM
Market Cap: £4.14 m
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