UPDATE ON SLM GOLD PROJECT, ARGENTINA

UPDATE ON SLM GOLD PROJECT, ARGENTINA

ECR Minerals plc

ECR MINERALS plc

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

AIM: ECR

US OTC: MTGDY

UPDATE ON SLM GOLD PROJECT, ARGENTINA

LONDON: 13 NOVEMBER 2014 - ECR Minerals plc is pleased to provide the following update on activities at the SLM gold project in Argentina. The SLM project area is 100% held by ECR’s wholly owned Argentine subsidiary Ochre Mining SA (“Ochre”).

Further to ECR’s announcement of 2 September 2014, assay results from channel, dump, float and rock chip sampling are disclosed in Tables 1 and 2 below. The sampling encompassed the three main prospects within the SLM project area: El Abra, Maestro Agüero and JV-14. Detailed geological mapping of each prospect is continuing and is expected to be complete by the end of 2014.

Highlights from channel sampling at the Maestro Agüero prospect (apparent widths) include 1.60m at 28.44g/t gold (with 0.20m at 62.5g/t gold) and 6.10m at 3.77g/t gold (with 1.10m at 4.86g/t gold). Assays from sampling at the El Abra and JV-14 prospects include 37.80g/t gold (float from El Abra) and 44.90g/t gold (rock chip from JV-14).

A map relating to the sampling results disclosed in this news release may be viewed at:

http://www.ecrminerals.com/q3-2014-ochre-samples-maestro-aguero

The map is for illustration only and should not be relied upon for technical purposes.

Stephen Clayson, Chief Executive Officer of ECR, commented:

“Since activities on the ground in the SLM project area recommenced in January 2014 our understanding of the project has improved significantly. Assay results from sampling which took place during the third quarter of this year are disclosed in the tables below, and are within the range of our expectations. Completion of the current detailed geological mapping exercise later this year will assist in the interpretation of this sampling data and that from prior phases of work, and will help determine the appropriate path forward for SLM in 2015.”

Table 1: Q3 2014 Channel Sampling

Maestro Agüero Prospect

SLM Gold Project, Argentina

Ochre Mining SA

Field Name   Sample ID   From

(m)

  To

(m)

  Apparent Width

(m)

  Gold (g/t)   Description
MACS001 34750 0.00 1.50 1.50 3.60 Vein
             
MACS002 34751 0.00 1.00 1.00 5.73 Vein
             
MACS003-A 34753 0.00 1.10 1.10 5.94 Vein
             
MACS003-B 34754 0.00 1.50 1.50 0.22 Stockwork
             
MACS003-C1 34755 0.00 1.15 1.15 0.06 Stockwork
MACS003-C2 34756 1.15 3.15 2.00 0.8 Stockwork
MACS003-C3 34757 3.15 5.15 2.00 1.04 Stockwork
MACS003-C4 34758 5.15 7.15 2.00 0.42 Stockwork
MACS003-C5 34759 7.15 7.80 0.65 0.10 Stockwork
Weighted avg.       7.80 0.59  
             
MACS003-D1 34762 0.00 0.50 0.50 1.62 Vein
MACS003-D2 34763 0.50 1.10 0.60 0.10 Selvedge
Weighted avg.       1.10 0.79  
             
MACS004-A 34764 0.00 1.00 1.00 6.58 Vein
             
MACS004-B1 34765 0.00 1.00 1.00 4.89 Vein
MACS004-B2 34766 1.00 2.00 1.00 0.25 Vein
Weighted avg.       2.00 2.57  
             
MACS004-C1 34767 0.00 1.00 1.00 0.13 Stockwork
MACS004-C2 34768 1.00 2.00 1.00 0.03 Stockwork
MACS004-C3 34769 2.00 3.00 1.00 0.03 Stockwork
MACS004-C4 34770 3.00 4.00 1.00 0.18 Stockwork
MACS004-C5 34771 4.00 5.20 1.20 0.00 Stockwork
Weighted avg.       5.20 0.00  
             
MACS005-A 34773 0.00 1.00 1.00 0.15 Vein
MACS005-B 34774 1.00 2.00 1.00 1.14 Vein
MACS005-C 34775 2.00 3.00 1.00 2.16 Vein
MACS005-D 34776 3.00 4.00 1.00 11.30 Vein
MACS005-E 34777 4.00 5.00 1.00 2.90 Vein
MACS005-F 34778 5.00 6.10 1.10 4.86 Vein
Weighted avg.       6.10 3.77  
             
MACS006 34779 0.00 2.00 2.00 3.88 Vein
             
MACS007 34780 0.00 1.30 1.30 2.73 Vein
             
MACS008 34781 0.00 1.00 1.00 0.26 Vein
             
MACS009-A 34783 0.00 1.00 1.00 0.09 Vein
MACS009-B 34784 1.00 2.00 1.00 0.04 Vein
MACS009-C 34785 2.00 2.70 0.70 0.47 Vein
Weighted avg.       2.70 0.17  
             
MACS0010-A 34786 0.00 1.40 1.40 7.52 Other alteration
MACS0010-B 34787 1.40 3.40 2.00 0.77 Other alteration
MACS0010-C 34788 3.40 5.40 2.00 0.05 Other alteration
Weighted avg.       5.40 2.25  
             
MACS0011-A 34790 0.00 0.50 0.50 1.72 Vein
MACS0011-B 34791 0.50 1.05 0.55 1.27 Vein
Weighted avg.       1.05 1.49  
             
MACS012 34792 0.00 1.20 1.20 10.8 Vein
             
MACS013 34793 0.00 1.00 1.00 2.12 Vein, other alteration
             
MACS014-A 34794 0.00 0.50 0.50 12.5 Selvedge
MACS014-B 34795 0.50 1.00 0.50 4.24 Vein
MACS014-C 34796 1.00 1.50 0.50 0.37 Selvedge
Weighted avg.       1.50 5.70  
             
MACS015-A 34797 0.00 0.50 0.50 0.28 Other alteration
MACS015-B 34798 0.50 1.00 0.50 13.9 Vein
Weighted avg.       1.00 7.10  
             
MACS016-A 34799 0.00 0.30 0.30 0.20 Other alteration
MACS016-B 34800 0.30 0.50 0.20 0.04 Vein
Weighted avg.       0.50 0.13  
             
MACS017-A 34802 0.00 0.60 0.60 0.01 Selvedge, other alteration
MACS017-B 34803 0.60 1.00 0.40 0.01 Vein
Weighted avg.       1.00 0.01  
             
MACS018 34804 0.00 1.00 1.00 0.27 Vein
             
MACS019-A 34805 0.00 0.50 0.50 5.26 Vein
MACS019-B 34806 0.50 1.50 1.00 1.10 Vein
Weighted avg.       1.50 2.49  
             
MACS021 34807 0.00 1.00 1.00 22.50 Vein
             
MACS022 34808 0.00 1.00 1.00 5.13 Vein
             
MACS023-A1 34809 0.00 1.00 1.00 24.00 Vein
MACS023-A2 34810 1.00 1.20 0.20 62.50 Vein
MACS023-B 34811 1.20 1.60 0.40 22.50 Selvedge, other alteration
Weighted avg.       1.60 28.44  
 

Table 2: Q3 2014 Dump Select, Float and

Rock Chip Samples

SLM Gold Project, Argentina

Ochre Mining SA

Sample ID   Description   Gold (g/t)
El Abra prospect
34813 Float 0.10
34814 Dump select 0.02
34815 Float 37.80
34816 Dump select 8.24
34817 Float 0.08
14818 Dump select 0.04
34819 Float 0.10
34820 Dump select 0.04
34822 Dump select 0.01
34823 Float 7.86
34824 Dump select 3.53
34825 Float 0.11
34826 Dump select 0.98
34827 Float 1.80
34828 Dump select 9.40
34829 Dump select 4.01
34830 Dump select 3.56
34831 Dump select 0.38
34832 Dump select 5.38
34833 Dump select 13.10
34834 Dump select 5.42
34835 Dump select 0.35
JV-14
34738 Rock chip - vein 44.90
34739 Dump select 6.71
34740 Rock chip - vein 7.19
34741 Dump select 0.16
34742 Dump select 12.70
34743 Dump select 8.52
34744 Dump select 0.16
34745 Dump select 0.14
34746 Rock chip - selvedge 2.80
34747 Rock chip - vein 0.01
Maestro Agüero
34749 Dump select 4.26
34752 Dump select 7.52
34761 Dump select 11.50
34789 Dump select 4.19
 

Assay values have been expressed in this news release as g/t (grams per tonne) gold however some values were received from the laboratory as ppm (parts per million) gold. For the purposes hereof ppm and g/t can be considered equivalent.

The content of this news release has been reviewed by Richard Watts B.Eng. Mining, Fellow of the South African Institute of Mining & Metallurgy, a director of the Company with more than 40 years of experience in the mining industry.

QA/QC

Sampling was carried out under geological supervision. A secure chain of custody was maintained in the transport and storage of all samples, which were shipped to and analysed by Acme Analytical Laboratories in Santiago, Chile, an internationally accredited analytical laboratory. A quality control system using blanks, duplicates and standards is in use at the laboratory. The assay data reported is considered acceptable in the context of these measures.

Upon arrival at the laboratory the samples were dried, crushed, and split, and a fraction was pulverised. The method of analysis for gold was fire assay (50g charge) with AAS finish. A re-assay with gravimetric finish was carried out where results exceeded the laboratory’s upper detection limit for AAS finish (10ppm gold).

ABOUT ECR

ECR is a mineral exploration and development company with, among other interests, the right to earn a 50% interest in the Itogon gold project in the Philippines. Itogon is an advanced exploration project located in a gold and copper mining district in the north of the Philippines.

ECR has a 100% interest in the Sierra de las Minas gold project in Argentina, the exploration strategy for which is to delineate multiple medium to high grade, low tonnage deposits suitable for advancement to production on a relatively low capital, near term basis.

ECR holds a substantial minority stake in THEMAC Resources Group Ltd (TSX-V: MAC), which is focused on the development of the Copper Flat copper-molybdenum-gold-silver porphyry project in New Mexico, USA.

FOR FURTHER INFORMATION PLEASE CONTACT:

ECR Minerals plc Tel: +44 (0)20 7929 1010

Paul Johnson, Non-Executive Chairman

Stephen Clayson, Director & Chief Executive Officer

Richard (Dick) Watts, Technical Director

Email: info@ecrminerals.com

Website: www.ecrminerals.com

Daniel Stewart & Company plc Tel: +44 (0)20 7776 6550

Emma Earl/David Coffman (Nominated Adviser)

Colin Rowbury (Broker)

FORWARD LOOKING STATEMENTS

This announcement may include forward looking statements. Such statements may be subject to a number of known and unknown risks, uncertainties and other factors that could cause actual results or events to differ materially from current expectations. There can be no assurance that such statements will prove to be accurate and therefore actual results and future events could differ materially from those anticipated in such statements.

Accordingly, readers should not place undue reliance on forward looking statements. Any forward looking statements contained herein speak only as of the date hereof (unless stated otherwise) and, except as may be required by applicable laws or regulations (including the AIM Rules for Companies), ECR disclaims any obligation to update or modify such forward looking statements as a result of new information, future events or for any other reason.

GLOSSARY

AAS: atomic absorption spectroscopy

alteration: the chemical response of rocks to hydrothermal solutions causing mineralogical change

assay: a test performed on a sample of ores or minerals to determine the amount of valuable metals contained

channel sampling: a sample composed of pieces of rock that have been cut out of a small trench or channel

g: grams

g/t: grams per tonne

m: metre

mesothermal: mesothermal gold deposits are formed from hot water that precipitates gold under high temperatures and pressure, generally at great depths in the earth’s crust

outcrop: an exposure of rock or mineral deposit that can be seen on surface, that is, not covered by soil or water

ppm: parts per million

selvedge: the area of the point of contact between a vein and the surrounding rock

stockwork: a metalliferous deposit characterized by the impregnation of the mass of rock with many small veins or nests irregularly grouped

t: tonne

vein: material which was chemically deposited by fluids within a rock fracture; veins exhibit a range of textures and minerals, depending primarily on the temperature, depth, and composition of the fluid and host rock; may also contain a small amount (<10%) of entrained host rock and/or vein clasts

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