29 November 2024

ECR MINERALS PLC

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

Collaboration Agreement with James Cook University on Rare Earth Elements at the Lolworth Project

ECR Minerals PLC (AIM: ECR), the gold exploration and development company focused on Australia, is pleased to announce that it has entered into a collaboration agreement with James Cook University ("JCU") in Queensland, a leading institution in science and engineering research, to further explore the potential for rare earth elements ("REE") within the Company's Lolworth Project area in Queensland (the "Lolworth Project").

Following approval of funding for the project by the Trailblazer Steering Committee, the collaboration will see JCU recruit post-doctoral researchers and PhD students to form a dedicated team. This dedicated team will focus on analysing and interpreting the mineral data from the Lolworth Project area to enhance the understanding of its REE potential.

Under the terms of the collaboration agreement, all data generated through this collaboration will be shared with ECR, further strengthening the Company's technical insights into the region. While ECR is pleased to support JCU in this important research initiative, the pace of the Company's broader technical development across the wider Lolworth Project area will continue to be driven by its own technical team and exploration priorities.

James Cook University is a public university in North Queensland, Australia. The second oldest university in Queensland, JCU is a teaching and research institution with its main campuses located in Cairns and Townsville, and one in Singapore.  JCU is ranked in the world's top 300 universities by the Times Higher Education World University Rankings 2022 and also has study centres in Mount Isa, Mackay, Thursday Island and Rockhampton.

Mike Whitlow, ECR's Managing Director, said: "We are thrilled to see further validation of our projects in Queensland, in particular the Lolworth Project, through this exciting collaboration with James Cook University. This partnership, which is fully funded by JCU, not only underscores the growing interest in the Lolworth Project region, but also expands our technical understanding of a fast-emerging area of interest. Combined with our existing collaboration with the Geological Survey of Queensland, this initiative places ECR in a stronger position to potentially unlock the Lolworth Project's REE potential and create significant shareholder value."

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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 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), MGA 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. 

MGA also has approximately A$75 million of unutilised tax losses incurred during previous operations.