Board Changes

ECR Minerals PLC

15 February 2024

 

ECR MINERALS plc

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

Board changes

ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, announces that David Tang has stepped down as Chairman of the Company and Nick Tulloch has been appointed Chairman in his place, in addition to his role as Executive Director of the Company. David Tang will remain on the board as a non-executive director.

David Tang, Non-Executive Director, said: "I suggested to the board that the time was right for me to hand over the chairmanship of our Company and, with the endorsement of the other non-executive directors, I have asked Nick to take on the role.  We have spoken a lot about the change in pace and change in approach since Nick and Mike joined ECR last September and I am sure it is apparent to investors that it is Nick and Mike leading the strategic direction of the Company and liaising with our counterparties.  I am delighted that Nick has accepted this role at ECR."

Nick Tulloch, Chairman, said: "My thanks to David who has led ECR through a very challenging period with great diligence and commitment.  I was honoured that he asked me to take over as Chairman.  We have been implementing a number of changes to ECR in recent months and there is still a great deal to accomplish.  As we move into this next phase, I am pleased that we will continue to benefit from David's wise counsel and detailed knowledge of our operations."

The Directors recognise that Nick Tulloch's appointment as Chairman alongside his ongoing responsibilities as an executive director is not in line with the QCA Corporate Governance Code but consider that given the current size and stage of development of ECR, and Nick's experience, it is in the best interests of all stakeholders for him to take up this position. The Directors further note that a considerable amount of the operational responsibilities of the Company are carried out by Mike Whitlow, COO.  At the same time, Trevor Davenport has been appointed Senior Independent Director of the Company.

FOR FURTHER INFORMATION, PLEASE CONTACT:

ECR Minerals plc		Tel: [phone]
Nick Tulloch, Chairman Andrew Scott, Director
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 eight active exploration tenements and two in application (Ballarat and Tambo).

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 Lolworth Range, Queensland, Australia. The Company has also submitted a license application at Kondaparinga which is approximately 120km² in area and located within the Hodgkinson Gold Province, 80km NW of Mareeba, North Queensland.

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.

 

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