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
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Tel: +44 (0) 20 7929 1010
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Nick Tulloch, Chairman
Andrew Scott, Director
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Email:
info@ecrminerals.com
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Website:
www.ecrminerals.com
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WH
Ireland Ltd
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Tel: +44 (0) 207 220 1666
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Nominated Adviser
Katy Mitchell / Andrew de
Andrade
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SI
Capital Ltd
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Tel: +44 (0) 1483 413500
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Broker
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Nick Emerson
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Novum Securities Limited
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Tel: +44 (0) 20 7399 9425
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Broker
Jon Belliss
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Brand Communications
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Tel: +44 (0) 7976 431608
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Public & Investor
Relations
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Alan Green
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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.