Further Stream Sampling Results Identify New Gold Anomalies at Lolworth Range Project, Queensland

Further Stream Sampling Results Identify New Gold Anomalies at Lolworth Range Project, Queensland

ECR Minerals plc

E CR MINERALS plc

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

Further Stream Sampling Results Identify New Gold Anomalies at Lolworth Range Project, Queensland

ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to announce updated gold results from the stream sampling campaign at the Lolworth Range project, North Queensland, Australia.

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. The project is being explored under ECR’s Australian wholly owned subsidiary Lux Exploration Pty Ltd (“LUX”).

HIGHLIGHTS

• Assays from the final 75 stream sediment samples now received.
• Results have outlined another 6 stream drainages that are anomalous in gold.
• Gold results up to 1395 ppm gold correlate well to visual gold seen in pan concentrates
• Results for Li-Ta-Ni-Ce are yet to be received.

ECR CEO Andrew Haythorpe commented: “I am pleased to report that once again our Lolworth assets continue to exceed expectations. As the regional streams and gullies continue to give up their secrets and yield some high gold values, there is a real sense of excitement and anticipation at the potential scale and diversity at the project. Once our field team get back on the ground and zone in on the most promising streams, we expect to be able to produce a shortlist of drill targets ready for our rig to commence work at the earliest opportunity.”

“ We already know 2023 will be a definitive year for Lolworth, and with so much more to come from the rest of ECR’s asset portfolio, I look forward to reporting further developments as they occur.”

Plan of all outlying anomalous gold areas identified from stream sampling to date at the Lolworth Project are shown in Figure 1 below:

Figure 1: https://www.ecrminerals.com/images/2023/Fig1_Lolworth_Project_230322.png

NEW GOLD RESULTS

We are pleased that the long-awaited results for the last batch of stream samples have finally arrived. The results show that 12 of the 75 completed samples contain anomalous values greater than 0.21 ppm Au with three samples in particular recording 25.9, 205 and 1395 ppm gold. Whilst this is still early stage sampling work, it should be noted that the majority of these high gold values correlate with the visual identification of gold seen in the pan stream concentrates. The Directors believe the reported high values are strongly indicative of a gold source up-stream and therefore are not representative of the in-situ gold resource within the streams themselves.

ADDITIONAL STREAM ANOMALIES

As outlined in Figure 1 above, our reported additional gold results have identified five new stream catchments that are anomalous in gold. All these new areas are situated to the west of the Reedy Creek and Gorge Creek drainages, and will be re-visited once the current tropical wet season ends.

NEXT STEPS

Since initial work began at Lolworth in September 2022, the field team have identified numerous catchments that have highlighted potential multiple gold sources across all three tenements. Adding further value to this, critical minerals such as lithium, tantalum and niobium have also been identified within streams that are draining from a prominent 10km long north-south ridge line that starts north from Gorge Creek. The results so far have exceeded the expectations of the Board, and along with the geology and field teams on the ground, there is a palpable sense of anticipation over what the project could yield in the coming months.

As we wait for the heavy tropical rains to pass, the ECR Board has planned out the next ‘boots on the ground’ phase to commence in May-June this year. The new campaign priorities will involve mapping, rock chip sampling and soil sampling over the headwaters and ridgelines of the most promising streams. Subject to these results the board will then delineate appropriate drill targets, and schedule a drilling campaign to commence late 2023 / early 2024.

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: [phone]
David Tang, Non-Executive Chairman Andrew Haythorpe, CEO
Email: [e-mail]
Website: www.ecrminerals.com
WH Ireland Ltd		Tel: [phone]
Nominated Adviser Katy Mitchell / Andrew de Andrade
SI Capital Ltd		Tel: [phone]
Broker
Nick Emerson
Novum Securities Limited		Tel: [phone]
Broker Jon Belliss
Brand Communications		Tel: [phone]
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 76 gold results listed by rank of Au ppm. Highly anomalous results in bold, Lolworth Range Project. (Locations reported as GDA94-Zone 55 grid).

SAMPLEID	EASTING	NORTHING	Au (ppm)
LWSS152	314342	7749643	1395
LWSS316	310476	7751531	205
LWSS330	297542	7752332	25.9
LWSS324	301408	7750191	3.54
LWSS355	304398	7757534	3.28
LWSS307	313709	7753194	2.45
LWSS392	303396	7763735	0.837
LWSS328	298118	7752914	0.833
LWSS400	305221	7762763	0.411
LWSS203	311113	7748916	0.292
LWSS363	310768	7757374	0.264
LWSS319	303817	7750821	0.257
LWSS331	297859	7751589	0.116
LWSS337	293239	7758862	0.089
LWSS358	306999	7756369	0.07
LWSS308	310995	7751833	0.045
LWSS333	293758	7754499	0.04
LWSS387	315175	7747119	0.04
LWSS401	305347	7762407	0.035
LWSS356	305095	7757449	0.029
LWSS309	309549	7750825	0.025
LWSS322	303733	7748970	0.015
LWSS320	303513	7749908	0.009
LWSS402	312624	7757384	0.008
LWSS313	307690	7753774	0.007
LWSS325	301118	7750266	0.006
LWSS395	303268	7763015	0.005
LWSS301	313505	7752290	0.003
LWSS327	298851	7753698	0.003
LWSS335	291417	7756638	0.003
LWSS336	293662	7758117	0.003
LWSS340	291528	7759047	0.003
LWSS201	311180	7748656	0.002
LWSS202	310602	7749015	0.002
LWSS339	291835	7759016	0.002
LWSS390	315960	7746391	0.002
LWSS305	313302	7754719	0.001
LWSS312	308468	7755458	0.001
LWSS314	310197	7753918	0.001
LWSS315	310983	7752585	0.001
LWSS317	307360	7752660	0.001
LWSS318	304761	7751530	0.001
LWSS321	304329	7749453	0.001
LWSS323	302222	7751634	0.001
LWSS326	299529	7750758	0.001
LWSS329	297786	7752803	0.001
LWSS332	297743	7751392	0.001
LWSS338	291660	7758838	0.001
LWSS341	291878	7759967	0.001
LWSS342	300649	7755309	0.001
LWSS343	300697	7756249	0.001
LWSS344	301040	7756293	0.001
LWSS345	303230	7756616	0.001
LWSS346	303005	7755876	0.001
LWSS347	302894	7755034	0.001
LWSS348	303560	7754928	0.001
LWSS349	303118	7754758	0.001
LWSS350	302526	7754269	0.001
LWSS351	302462	7753891	0.001
LWSS352	302689	7753860	0.001
LWSS353	303659	7754034	0.001
LWSS354	304643	7757176	0.001
LWSS357	306860	7757553	0.001
LWSS359	307628	7757575	0.001
LWSS360	307631	7757707	0.001
LWSS361	308082	7757860	0.001
LWSS362	310752	7758027	0.001
LWSS388	314838	7746642	0.001
LWSS389	314882	7746209	0.001
LWSS391	316127	7746489	0.001
LWSS393	302950	7763679	0.001
LWSS394	303018	7763551	0.001
LWSS396	301531	7762367	0.001
LWSS398	302744	7761951	0.001
LWSS399	302960	7761777	0.001

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