ECR MINERALS plc

("ECR Minerals" or the "Company")

Cancellation of Share Options

ECR Minerals plc (LON:ECR), the exploration and development company focused on gold in Australia, announces that it has agreed with certain Directors to cancel the following share options ("Options") over 54,000,000 ordinary shares in the Company (the "Cancellation"). No further Options will be issued in the near term.

ECR Managing Director Nick Tulloch commented: "Our Board are fully focussed on aligning with shareholders amid these challenging market conditions and we have also sought to limit as far as possible any further dilution for shareholders. The cancellation of all outstanding share options marks a significant recognition in that regard.  At the time of our recent fundraising, Mike Whitlow and I joined on a substantially performance-based remuneration package and other members of the board sacrificed part of their salary to take shares at the fundraising price.  I would expect any further equity awards that we may make to management to follow this template."

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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 six licence applications outstanding which includes one licence application lodged in eastern Victoria (Tambo gold project).

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 approx 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.