Issue of Equity

Issue of Equity

ECR Minerals plc

ECR MINERALS plc

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

AIM: ECR

US OTC: MTGDY

ISSUE OF EQUITY

London: 15 May 2012 - ECR Minerals plc announces that it has issued and allotted a total of 13,500,168 ordinary shares of 0.1p (“Ordinary Shares”) to YA Global SPV Ltd (“YA Global”) at 0.667p per share in connection with an advance of £90,000 (the “Advance”) under the Company’s Standby Equity Distribution Agreement (SEDA) with YA Global.

The proceeds of the Advance will be used to provide working capital for the Company’s gold exploration activities in Argentina and for general corporate purposes.

Pursuant to this announcement application will be made for a total of 13,500,168 Ordinary Shares to be admitted to trading on AIM. Dealings are expected to commence on 21 May 2012. Following admission the Company will have a total of 727,409,600 Ordinary Shares in issue. The new Ordinary Shares will rank pari passu in all respects with the Ordinary Shares of the Company currently traded on AIM.

For further information please contact:

ECR Minerals plc Tel: [phone]

Patrick Harford, Managing Director

Stephen Clayson, Director & Chief Financial Officer

Email: [e-mail]

Website: www.ecrminerals.com

Daniel Stewart & Company plc Tel: [phone]

Paul Shackleton/Tessa Smith/David Hart

Old Park Lane Capital plc Tel: [phone]

Michael Parnes

Blythe Weigh Communications Tel: [phone]

Matthew Neal/Tim Blythe/Paul Weigh