ECR Minerals plc (AIM:ECR) Potential Exploration Targets Defined, Hurricane Project, North Queensland

Potential Exploration Targets Defined from Recently Completed LIDAR Survey at the Hurricane Project, North Queensland

ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia is pleased to announce it has received data from the recently completed LIDAR survey at exploration tenements (EPM 27518, EPM 25855 and EPM 19437) located in NE Queensland, together known as the Hurricane Project (“Hurricane Project”).

Interpretation of the LIDAR data shows potential outcrops along strike at the existing Gold and Antimony mineralised quartz breccias known as the Tornado, Cyclone and Holmes prospects.

HIGHLIGHTS

• Aerial LIDAR survey completed over exploration tenements EPM 27518, EPM 25855 and EPM 19437, together known as the Hurricane Project.
• Interpretation of LIDAR shows resistant ridgeline structures along strike at the existing Gold and Antimony mineralised quartz breccias known as the Tornado, Cyclone and Holmes prospects. The Board believes that the structures could also host other mineralised breccias that have yet to be explored.
• A follow up site visit to evaluate the identified structures with rock chip sampling will take place in August 2023.

ECR CEO Andrew Haythorpe commented: The ECR board are acutely aware of the impact that challenging markets are currently having on our shareholders, and I am therefore pleased to be able to report solid progress at our Hurricane project, with some high resolution detail generated by the recent LIDAR survey. This is a project that I personally have detailed knowledge of and am vested in through work undertaken prior to my joining ECR as CEO. Our plan is to get boots back on the ground next month in order that we can firm up what the historical data, early fieldwork and the LIDAR findings have led us to believe – which is that Hurricane is a later stage gold and antimony property with exceptional near-term development potential.”

“I look forward to reporting on progress in the coming weeks and months.”

The extent of the LIDAR survey with the regional structural trends and known prospects can be found here:

Figure One: https://www.ecrminerals.com/images/2023/Fig1_230711.png

Interpreted outcrops along strike of known mineralisation at Hurricane can be found here:

Figure Two: https://www.ecrminerals.com/images/2023/Fig2_INSERT_230711.png

LIDAR SURVEY

The LIDAR (Light detection and ranging) survey is a well proven aerial survey method that sends out thousands of laser points to map the undulations of the ground surface in incredible detail. The initial Hurricane project LIDAR survey took place over an area of 50 square kilometres during the May to June in order to evaluate the terrain and plan for drill access to the Tornado, Cyclone and Holmes prospects (see Figure One above).

INTERPRETATION OF LIDAR DATA

The processing of the LIDAR data has revealed a number of such topography highs along strike at the Tornado, Cyclone and Holmes prospects (see Figure Two above), and in particular we are pleased to note that the weathering of the rock surrounding these known mineralised quartz breccias and stockwork veins has produced detailed, high resolution topography pictures. Although the Company cannot confirm that the outcrops identified from LIDAR host any mineralisation at this juncture, historically LIDAR interpretations generally represent a cost and time effective way to identify targets with potential for extensions to mineralisation, and these results add to our confidence in the project potential.

NEXT STEPS

The geology team have now scheduled a ‘boots on the ground’ field visit to investigate these targets during August. The targets will be mapped and rock chip samples will be taken to evaluate any mineralisation at the delineated targets, and also to provide additional targets for follow-up drilling.

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.

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