26 January 2026

ECR MINERALS PLC

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

Raglan Production Plan Underway as ECR Prepares for Initial Gold

ECR Minerals plc (AIM: ECR), the gold exploration and development company focused on Australia, is pleased to announce that it is implementing its production plan at the Raglan alluvial gold project (the "Raglan Project") this week, marking a key step as the Company prepares to enter initial gold production.

The Company has profiled the site and identified priority locations for initial trenching. These areas will be worked at successive depths as part of a broader programme designed to determine where gold grades are highest before progressing upstream across the property. In parallel, ECR will re-analyse previously worked ground, particularly at deeper levels, where the Board believes - consistent with outcomes at the nearby Blue Mountain Project - that recoverable gold remains in situ.

During the early stages of production at the Raglan Project, the operating team will assess and optimise the configuration of mining equipment, particularly the wash plant. The objective is to maximise daily throughput while maintaining a high level of gold recovery. The Company's Blue Mountain Project has been independently tested and demonstrated a recovery rate of 91.7% gold into 0.40% of the mass, and part of the coming work programme will be aimed at assessing whether Raglan will achieve a comparable recovery rate performance.

Chairman Nick Tulloch and Directors Andrew Scott and Chris Gibbs will be meeting in Queensland later this week to oversee the initial stages of mining and production activities at the Raglan Project. During the visit, the Board members will meet with the operating team, review production progress based on early grade observations and meet with a prospective off-taker for gold production from both Raglan and Blue Mountain.

This milestone will coincide with exceptionally strong recent precious-metal prices, with gold currently trading above US$4,988 per ounce and silver having recently moved through US$100 per ounce, providing a highly favourable market backdrop as ECR enters its production phase.

Overview of the Raglan Project - Commencement of Mining and Production

The Raglan Project is a fully permitted, turnkey alluvial gold project located in central Queensland and held under Mining Lease ML 3665. The project includes a near-new 60 tonne-per-hour wash plant, gold room, water supply, accommodation camp and mobile mining fleet, enabling prompt mobilisation and a low-capex pathway to production.

With the operating team secured and all key infrastructure already on site, Raglan is expected to deliver ECR's initial gold production and near-term early cashflow. The project also provides a foundation for shared operational capability and equipment utilisation across the Company's nearby Blue Mountain alluvial gold project.

The Board considers that Raglan's anticipated operating parameters are consistent with other producing alluvial mines in Queensland, where commercial production is achieved even at relatively modest grades, particularly in the current gold price environment.

The Company's subsidiary that owns the Raglan Project has been renamed ECR Minerals (Raglan) Pty Limited, aligning it with the branding of the Company's other Australian subsidiaries.

Portfolio Strategy

While the Raglan Project represents ECR's immediate production focus, the Board's meetings will also encompass strategic planning sessions across the Company's broader Queensland and Victoria portfolio:

·      Blue Mountain - preparations to bring the Blue Mountain gold project into production are advancing, following strong alluvial drilling results, visible coarse gold and successful wash-plant trials;

·      Lolworth - a significantly-sized gold-silver project where maiden drilling provided indications of a broader mineralised system, with silver emerging as a potential key value driver at current prices; and

·      Other Victoria tenements - assessing targets for prospective exploration and development activity over the year ahead.

ECR Chairman Nick Tulloch commented: "This week will mark an important moment for ECR. With our operating team secured and a production plan in place, several members of the Board will be travelling to Queensland to oversee the implementation of our initial mining operations at Raglan. This represents a major step forward as the Company transitions from a pure explorer into an operating gold producer.

"Raglan is a rare, turnkey alluvial operation with plant, permits and infrastructure already in place. Its anticipated operating parameters are considered to be consistent with other producing alluvial mines in Queensland and, with gold trading at historically high levels, we believe that the project has the potential to generate meaningful cashflow in due course.

"Importantly, Raglan also provides a strong operational foundation for our wider Queensland portfolio. Alongside Blue Mountain and the significantly sized Lolworth project, we believe ECR is well positioned for the year ahead, and we are excited by what lies ahead as we enter this next phase of the Company's development."

Review of Announcement by Qualified Person

This announcement has been reviewed by Adam Jones, Chief Geologist 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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ABOUT ECR MINERALS PLC

ECR Minerals is a mineral exploration and development company operating through three wholly owned Australian subsidiaries ECR Minerals (Australia) Pty Ltd ("ECR Australia"), ECR Minerals (Queensland) Pty Ltd ("ECR Queensland") and ECR Minerals (Raglan) Pty Ltd ("ECR Raglan").

ECR Australia owns the Bailieston and Creswick gold projects in central Victoria, Australia as well as the Tambo gold project in eastern Victoria.

Raglan Resources has a mining lease at the Raglan alluvial gold project in central Queensland, Australia and ECR Queensland has two approved exploration permits over the nearby Blue Mountain alluvial gold project.  ECR is currently working to bring both projects into production.  ECR Queensland also has three approved exploration permits covering 946 km² over a relatively unexplored area in Lolworth Range in northern Queensland. Furthermore, it has also submitted a licence 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), ECR Australia has the right to receive up to A$2 million in payments subject to future resource estimation or production from these projects. 

ECR Australia also has approximately A$76 million of unutilised tax losses incurred during previous operations.