Further Gold, Lithium, Tantalum and Niobium Samples Identified at Lolworth Range Project, Queensland

Further Gold, Lithium, Tantalum and Niobium Samples Identified at Lolworth Range Project, Queensland

ECR Minerals plc

ECR MINERALS plc

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

Further Gold, Lithium, Tantalum and Niobium Samples Identified at Lolworth Range Project, Queensland

ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to announce further progress and new results for gold, Lithium, Tantalum and Niobium from the recently completed 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

• Results from 144 additional stream sediment samples have been received.
• 19 out of 144 samples show gold values greater than 1 ppm Au, with a best result of 51 ppm Au.
• 35% of the 144 samples show visible gold in heavy pan concentrates.
• Lithium, Tantalum and Niobium confirmed in streams that drain the hills over a 10km trend from Gorge Creek to Oak Creek.
• Results from 33 regional rock chips reveal anomalous silver at the Uncle Terry’s Prospect. Two rock chips from outcrop in the Flaggy Creek drainage show gold results including 4.73 g/t Au.

ECR CEO Andrew Haythorpe commented: “On behalf of the board, we are pleased to see our Lolworth asset really starting to take shape. With further examples of visible gold in 35% of samples and the presence of Lithium, Tantalum and Niobium over a 10km trend, there is a genuine sense that Lolworth could be developing into a key asset for ECR. The rock chip samples containing gold from the Uncle Terry prospect adds further credence to this view.”

“There is so much more to come from ECR’s asset portfolio in 2023, and I look forward to reporting results and campaign developments to you as they occur.

Plan of the Lolworth tenements showing all gold results to date are shown in Figure 1 below:

Figure 1: https://www.ecrminerals.com/images/2023/Fig1_230130.png

Inserts A and Insert B relating to Figure 2 below:

Figure 2-Insert A: https://www.ecrminerals.com/images/2023/Fig2-InsertA_230130.png

Figure 2-Insert B: https://www.ecrminerals.com/images/2023/Fig2-InsertB_230130.png

Plan showing the Lithium, Tantalum and Niobium stream sampling across the Lolworth tenements shown in Figure 3 below:

Figure 3: https://www.ecrminerals.com/images/2023/Fig3_230130.png

Results for reported stream samples and rock chips are listed in Appendix One at end of this announcement.

STREAM SAMPLING PROGRAMME - BACKGROUND

A total of 347 stream sediment samples were completed at the Lolworth Range project between September and December 2022, and to date, ECR has received a total of 269 of 347 samples back from the lab. All samples are derived from pan concentrated stream sediment extracted from numerous traps at pre-determined planned sites and processed at the ALS Laboratory Perth. 33 elements were analysed utilising method ME-ICP61, which invariably returns a comprehensive digest that unlocks most elements of interest.

ECR pegged the Lolworth Range after initial research revealed that historic stream sediment sampling undertaken in 1987-1988 showed visible gold. No follow up work was undertaken to search for gold, and to date no exploration work has been undertaken in the region for critical minerals such as Lithium. Given the levels of Lithium, Tantalum and Niobium that sampling has already uncovered, the Board believes there are clear opportunities for further discoveries. Currently ground work at the project is at a stand-still due to the tropical wet season.

GOLD RESULTS AND TRENDS

New results show additional gold values in stream sediments with values present up to 51 ppm Au, also supported by visible gold present in 35% of pan samples. Most of the 144 new results were follow-up samples from the initial results taken from sites within Gorge Creek, Reedy Creek, Flaggy Creek and Oak Creek drainages (see Figure 1 above).

LITHIUM AND TANTALUM-NIOBIUM TRENDS

ECR recently demonstrated the presence of Lithium, Tantalum and Niobium in the streams at Gorge Creek and the Upper Glen Creek-Oak Creek area (see RNS dated 23^rd December 2022 here). These results are further enhanced by the high levels of Lithium, Tantalum and Niobium announced today (see Figure 3 above). The results show that Lithium is contained within the Gorge Creek drainage area, while the presence of Tantalum and Niobium has been identified along a line approximately 10km in length trending north from Gorge Creek to Oak Creek. No Lithium, Tantalum or Niobium has been detected in any other drainage areas sampled to date within the EPM licences.

ROCK CHIPS AND UNCLE TERRY’S PROSPECT

The field team have been encouraged to take rock chips from any outcrops encountered within the planned stream sample sites. Two encouraging results of 4.73 g/t Au and 0.14 g/t Au were taken from an outcrop in the Flaggy Creek area. The strike area for this outcrop is estimated to cover a distance of 180m in a NE direction, added to which streams immediately along this strike trend have also reported highly anomalous gold ( See Figure 2-Insert A above).

ECR Technical Director Adam Jones visited the project in November 2022 and at a quartz outcrop known as Uncle Terry’s, he and the team extracted a total of 28 rock chips over a strike length of 150m. Results from the oxidised quartz outcrop, estimated at widths of 3m contained predominantly silver (Ag). The silver is present at the centre of the outcrop, and while no high grades were present, a best result of 7.3 g/t Ag was recorded (see Figure 2-Insert B above). Similar oxidised outcrops were observed in patches to the SW and NE of the main outcrop. No further work has been undertaken since the visit due to the wet weather.

NEXT STEPS

The Board are satisfied that these results now show the main areas of focus for Gold, Lithium, Tantalum and Niobium (Au, Li-Ta-Nb). Once the wet season passes, the field team will return and complete further stream sampling at the head waters of the most promising drainage sites. Work is expected to continue up onto the ridgelines this year where soil sampling will begin. Mapping and sampling of outcrops will also be undertaken within the gold and Li-Ta-Nb areas as outlined in Figure 1 above. The Board is hopeful that this work will identify a series of potential drill targets by the close of the 2023 field season.

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 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 ONE

TABLE ONE: All locations for Gold, Lithium, Tantalum and Niobium results (ppm) from 144 recently received stream samples, Lolworth Range Project. (Locations reported as GDA94-Zone 55 grid).

SAMPLEID	EASTING	NORTHING	Au (ppm)	Li (ppm)	Ta (ppm)	Nb (ppm)
LWSS002	312747.24	7755208.3	2.700	10	290	535
LWSS003	312937.59	7755402.2	5.560	10	100	281
LWSS005	312327.78	7755159	4.460	10	310	1100
LWSS006	312412.38	7755391.6	0.001	10	200	831
LWSS007	313973.91	7756435	0.128	10	890	2000
LWSS008	313632	7756554.8	0.062	20	850	2000
LWSS009	313998.59	7756294	2.920	10	260	828
LWSS011	312426.49	7755878.1	0.001	10	230	1000
LWSS017	314911.54	7757848.5	0.001	10	280	988
LWSS018	315362.72	7758225.6	0.002	10	100	390
LWSS024	311005.94	7755832.2	4.350	10	820	2000
LWSS025	310241.04	7755962.7	0.001	10	80	308
LWSS026	309229.4	7755758.2	0.001	10	100	532
LWSS027	309010.85	7756664.1	0.014	10	150	621
LWSS028	308531.47	7756893.2	0.001	10	50	177
LWSS029	308644.26	7757880.2	0.021	10	60	156
LWSS030	314435.68	7761708.3	1.525	10	20	114
LWSS031	313505.1	7761521.4	0.001	10	30	189
LWSS032	312930.55	7760555.6	0.001	10	40	267
LWSS033	312511.08	7760950.4	10.000	10	230	707
LWSS034	312592.15	7759988.1	0.238	10	60	162
LWSS035	312289.01	7758958.8	0.497	10	280	735
LWSS036	312623.88	7758786.1	0.001	10	410	1690
LWSS037	312955.22	7759420.6	0.014	10	180	367
LWSS038	307741.5	7762811.4	1.575	10	70	158
LWSS039	308353.07	7763269.7	0.004	10	20	90
LWSS040	307857.83	7762247.5	0.001	10	20	75
LWSS041	308305.87	7759205.6	0.001	10	50	164
LWSS042	309317.51	7759544	0.001	10	30	85
LWSS043	308351.7	7760217.2	0.003	10	10	49
LWSS044	308076.75	7760136.1	0.007	10	20	104
LWSS045	309500.82	7761775.2	0.004	10	150	190
LWSS046	308933.31	7761285.3	0.015	10	10	35
LWSS059	304287.48	7757982.4	8.790	10	10	65
LWSS060	304308.63	7758525.3	6.120	10	20	66
LWSS061	304788.01	7757555.9	0.002	10	20	91
LWSS062	303625.3	7758773.7	0.407	10	10	61
LWSS063	304208.67	7762927.8	0.002	10	20	83
LWSS064	304046.52	7763000	0.001	10	20	88
LWSS065	304156.68	7763678.6	0.007	10	10	38
LWSS066	303467.56	7762036	0.001	10	10	75
LWSS067	303730.55	7757076.5	0.001	10	30	44
LWSS068	304322.73	7756227	0.001	10	80	298
LWSS069	304957.21	7755127.3	0.001	10	20	103
LWSS070	304858.52	7754975.7	0.001	10	60	156
LWSS071	303568.4	7756858	0.001	10	170	494
LWSS072	305739.74	7759526.3	1.815	10	10	16
LWSS073	305588.17	7759420.6	0.001	10	40	136
LWSS074	305965.33	7758186.9	0.007	10	40	19
LWSS075	306233.23	7758179.8	0.001	10	10	16
LWSS076	305789.09	7757682.8	0.001	10	10	45
LWSS126	318994.25	7750560.8	0.001	10	50	180
LWSS127	319043.6	7750571.3	0.002	10	80	252
LWSS128	319117.62	7750500.8	0.001	10	20	41
LWSS129	318157.09	7749845.2	0.001	10	130	360
LWSS130	318493.72	7749524.4	0.001	10	10	9
LWSS131	317663.6	7749683.1	0.001	10	10	14
LWSS132	317727.06	7749845.2	0.001	10	60	90
LWSS133	319297.39	7748925.2	0.001	10	10	14
LWSS134	319463.06	7747472.9	0.003	10	10	22
LWSS135	319233.94	7747480	0.001	10	10	16
LWSS136	319614.64	7747892.4	0.001	20	60	181
LWSS137	319634.02	7747183.9	0.699	10	10	27
LWSS138	319811.15	7746709.8	0.001	10	10	19
LWSS139	318826.82	7747095.8	0.001	30	10	5
LWSS140	317667.12	7747846.6	0.001	40	10	7
LWSS141	317720.01	7748177.9	0.001	30	10	9
LWSS142	317113.72	7746849	0.028	20	10	5
LWSS143	318305.13	7746330.9	0.001	20	10	5
LWSS144	318636.47	7746489.5	0.001	30	10	5
LWSS145	317649.5	7747472.9	0.001	40	10	5
LWSS146	317512.04	7747321.4	0.001	20	10	5
LWSS165	310545.95	7752670.4	0.001	10	10	22
LWSS166	311293.23	7752293.2	0.001	10	10	8
LWSS167	311892.46	7751648.2	0.003	20	10	7
LWSS168	310653.46	7753033.5	0.001	10	10	40
LWSS169	311164.57	7753347.2	0.001	10	10	52
LWSS170	310910.77	7753660.9	0.001	10	10	10
LWSS171	310501.88	7753153.3	0.005	20	50	242
LWSS172	310359.12	7752184	51.000	10	10	19
LWSS173	310655.21	7751503.7	0.001	10	10	10
LWSS174	310380.27	7751849.1	0.113	10	10	9
LWSS175	310204.03	7752504.7	0.001	20	10	51
LWSS176	310482.5	7750900.9	0.021	10	10	8
LWSS177	310309.78	7750971.4	0.001	10	10	5
LWSS178	309294.61	7751782.1	0.014	10	10	46
LWSS179	309326.33	7751620	0.002	10	10	16
LWSS180	309340.43	7750982	6.060	20	10	5
LWSS181	308173.69	7751507.2	0.221	20	50	31
LWSS182	308244.19	7751894.9	0.005	20	30	105
LWSS183	307754.23	7751556.5	0.003	20	50	84
LWSS191	322499.77	7748489.9	0.001	10	110	247
LWSS192	322390.49	7748391.2	0.001	10	20	38
LWSS193	321748.96	7748278.4	0.020	10	60	145
LWSS194	322390.49	7748826.5	0.001	20	20	43
LWSS195	320867.74	7748768.3	0.001	10	10	9
LWSS196	321135.63	7749046.8	0.001	10	10	25
LWSS197	307740.13	7750231.2	0.001	30	10	12
LWSS200	307863.5	7750492	0.088	20	30	32
LWSS216	314069.55	7754181.5	0.001	10	30	172
LWSS217	315247.01	7754773.5	0.001	10	50	109
LWSS218	313907.49	7755041.4	0.001	10	10	44
LWSS219	315538.07	7753979.7	0.001	10	80	290
LWSS220	315653.83	7753606	0.002	10	20	94
LWSS221	313947.19	7756453.7	1.010	20	1200	2000
LWSS222	314370.53	7757282.2	0.001	10	280	1085
LWSS223	314028.21	7757108.6	0.001	10	410	1515
LWSS224	314919.58	7756724.9	0.001	10	30	117
LWSS225	314686.4	7756212.3	2.820	10	330	1015
LWSS226	315496.73	7756349.5	0.577	10	330	865
LWSS235	298514.54	7760139.9	0.018	10	10	75
LWSS236	298383.9	7759655.3	0.001	10	10	45
LWSS237	299090.05	7760824.5	0.156	10	10	19
LWSS238	299220.69	7760730.3	0.993	10	10	30
LWSS239	299250.46	7761256.1	0.003	10	10	8
LWSS240	299515.05	7761087.5	2.190	10	40	129
LWSS241	300227.82	7760789.8	0.001	10	50	195
LWSS242	300214.59	7760624.4	0.003	10	20	80
LWSS243	299033.83	7757950.3	0.001	10	10	39
LWSS244	299020.59	7757680.8	0.001	10	10	18
LWSS245	298364.06	7757765.1	0.002	10	10	34
LWSS246	300376.65	7759571	0.010	10	10	67
LWSS248	314011.72	7756160.3	5.690	10	590	2000
LWSS249	314001.57	7755832.4	0.001	10	120	374
LWSS250	298718.64	7760863.7	0.005	10	10	54
LWSS256	312865.3	7752516.4	2.050	10	10	68
LWSS257	313150.63	7752351.1	0.002	10	10	21
LWSS258	313238.12	7752794.8	0.001	10	30	128
LWSS268	315810.55	7746062.2	0.001	20	10	6
LWSS269	315373.85	7746196.7	0.001	30	10	6
LWSS270	315357.23	7745927.5	0.001	20	10	5
LWSS271	316180.21	7745816.7	0.001	20	10	6
LWSS272	316350.1	7745452.2	0.001	20	10	10
LWSS273	318476.24	7745781.9	0.003	20	10	10
LWSS274	291324.1	7763871	0.001	10	10	5
LWSS275	293297.44	7762831	0.001	10	10	24
LWSS276	293082.03	7763166.4	0.001	10	10	5
LWSS277	290776.11	7761699.2	0.001	10	10	23
LWSS278	291905.83	7761305.9	0.001	10	10	31
LWSS279	291501.85	7759715.4	1.205	10	10	29
LWSS280	291369.2	7759845.2	0.001	20	10	62
LWSS281	289171.01	7765431.9	0.001	10	10	5
LWSS283	286679.37	7764836.9	0.001	10	10	5
LWSS284	286501.44	7765111.2	0.001	10	10	5

TABLE TWO: All locations of rock chip results (g/t). (Locations reported as GDA94-Zone 55 grid).

SAMPLEID	EASTING	NORTHING	Comment	Au (ppm)	Ag (ppm)	Pb (ppm)	Zn (ppm)	As (ppm)
LWC002	298771	7760765	Qtz Sub-Crop Flaggy Creek (along strike)	0.14	5.50	72	7	5
LWC003	298694	7760685	Qtz Sub-Crop Flaggy Creek (along strike)	4.73	4.50	542	21	5
LWC004	319550	7746711		0.04	0.50	3	7	5
LWC005	308944	7756137	Qtz Sub-Crop	0.01	1.00	152	8	132
LWC006	312627	7759835	Altered Granite-Outcrop	0.00	0.50	26	24	10
LWC010	312397.2	7752081.2	Uncle Terry Prospect	0.01	0.50	18	14	263
LWC011	312395.2	7752078.3	Uncle Terry Prospect	0.01	0.50	18	15	68
LWC012	312393.6	7752074.7	Uncle Terry Prospect	0.01	0.50	12	11	103
LWC013	312387.5	7752066.6	Uncle Terry Prospect	0.03	0.90	124	37	652
LWC014	312384.2	7752063	Uncle Terry Prospect	0.04	0.50	37	19	727
LWC015	312376.2	7752052.9	Uncle Terry Prospect	0.00	0.50	2	2	159
LWC016	312372	7752041.1	Uncle Terry Prospect	0.01	0.50	2	3	13
LWC017	312366.3	7752029	Uncle Terry Prospect	0.00	0.50	2	2	21
LWC018	312355.1	7752022.8	Uncle Terry Prospect	0.01	0.50	2	2	8
LWC019	312354.5	7752022.7	Uncle Terry Prospect	0.01	0.50	2	2	5
LWC020	312352.9	7752029	Uncle Terry Prospect	0.10	1.80	209	86	722
LWC021	312348.7	7752028.5	Uncle Terry Prospect	0.08	0.50	13	11	646
LWC022	312344	7752024.4	Uncle Terry Prospect	0.06	0.50	59	17	1035
LWC023	312346.8	7752024.8	Uncle Terry Prospect	0.04	0.60	39	11	576
LWC024	312342	7752019.4	Uncle Terry Prospect	0.05	2.40	276	6	544
LWC025	312338.6	7752012.7	Uncle Terry Prospect	0.06	7.30	888	14	1305
LWC026	312328.8	7752009.2	Uncle Terry Prospect	0.05	3.60	489	7	829
LWC027	312420.4	7752160.3	Uncle Terry Prospect	0.01	0.50	5	2	10
LWC028	312419.3	7752123.5	Uncle Terry Prospect	0.00	0.50	7	3	9
LWC029	312416.8	7752118.8	Uncle Terry Prospect	0.00	0.50	7	2	13
LWC030	312356.6	7752333.7	Uncle Terry Prospect	0.01	0.50	9	9	45
LWC031	312142.9	7751991.6	Uncle Terry Prospect	0.01	0.50	4	9	5
LWC032	312150.1	7752003	Uncle Terry Prospect	0.02	0.50	4	10	6
LWC033	312150.3	7752005.2	Uncle Terry Prospect	0.01	0.50	17	6	5
LWC034	312144.1	7751988.9	Uncle Terry Prospect	0.01	0.50	3	4	5
LWC035	312142.1	7751977.4	Uncle Terry Prospect	0.01	0.50	3	3	5
LWC036	312142.9	7751991.6	Duplicate of LWC031	0.00	0.50	4	11	5
LWC037	312410.2	7751152.8	Uncle Terry Prospect	0.01	0.50	2	2	5

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