Lithium-Tantalum-Niobium Stream Anomalies Identified at Lolworth, Queensland

LONDON, December 23, 2022–(BUSINESS WIRE)–

ECR MINERALS plc

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

Lithium-Tantalum-Niobium Stream Anomalies Identified at Lolworth, Queensland

ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to announce encouraging Lithium, Tantalum and Niobium anomalies identified within the first round of results from the recent stream sediment sampling campaign undertaken 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 by ECR’s Australian wholly owned subsidiary Lux Exploration Pty Ltd (“LUX”).

HIGHLIGHTS

• Encouraging Anomalous Lithium (Li), Tantalum (Ta) and Niobium (Nb) results recognised in the first batch of stream samples to date.

• Li-Ta-Nb anomalies are present in streams draining from a common area.

• Still awaiting results from a further 212 stream sediment samples.

• Multiple un-sampled pegmatites observed throughout the tenements.

ECR CEO Andrew Haythorpe commented: “In our recent interview I stated how the early results from our 2022 Lolworth campaign were way in excess of my expectations. In addition to the visible gold reported across a number of samples, the fact that the first batch of stream samples contain significant levels of Lithium, Tantalum and Niobium is significant for ECR as an exploration company, as it adds a new dimension to our shareholder and investor proposition. It is still early days, but this first set of sample results is an exciting development for our Company.”

“I reiterate my statement from the recent interview: I believe we have laid some great foundations for our shareholders in 2022, and our Board are excited by the potential for further discoveries across our projects in 2023.”

Story continues

The location of Lithium, Tantalum and Niobium anomalies within ECR’s Lolworth tenements are shown on the plan located here:

Figure 1: https://www.ecrminerals.com/images/2022/Fig1_Li-Ta-Nb-LUX_221222.png

MULTI-ELEMENT ANALYSIS

ECR reported multiple gold anomalies from the first round of stream sediment results on December 12 2022 (see RNS here ). In addition to assaying for gold, ECR undertook a 4-acid digest, ME-ICP analysis of these samples.

ME-ICP results show a number of the samples are high in Lithium (Li), Niobium (Ni) and Tantalum (Ta). 30 samples have a Lithium content greater than 1000 ppm (0.1%). 15 samples have a Niobium content greater than 500 ppm (0.05%) and 7 samples are greater than 300 ppm (0.03%) in Tantalum. All results have been statistically analysed, standardised and ranked into groups accordingly by a ‘standard deviation range’ from the average in the keys on the spatially plotted maps in Figure 1 (See above).

Li-Ta-Nb ANOMALOUS LOCATIONS

Figure 1 above shows clustered high Lithium to be concentrated within what is known as Gorge Creek. In particular, concentrations are particular present in drainages falling in from the east side of Gorge Creek.

Tantalum and Niobium minerals (such as Columbite-Tantalite) are often found together. Figure 1 above shows this to be the case with the main concentrations located in drainages related to a north flowing tributary to Glen Creek. Tantalum is also present in some of the drainages that contain Lithium within the Gorge Creek area.

The presence of Ta and Nb in the first batch of stream samples is significant, in that anomalous Ta and Nb is within watercourses that are draining the same mountain ridges where the Li-bearing watercourses are also sourced. Primary Li-Ta-Nb mineralisation is often sourced from LCT (lithium-Caesium-Tantalum) pegmatites. During the recent stream sampling campaign, pegmatitic rocks were seen and although it has not yet been established whether these pegmatite rocks contain Lithium, Tantalum or Niobium, the ECR Board have taken the decision to sample these pegmatites in next year’s exploration campaign. This sampling will be followed up alongside the reported gold anomalies.

TABLE 1: Stream Sampling results to date for Lithium (Li), Tantalum (Ta) and Niobium (Nb), arranged by decreasing Lithium values.

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:

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…