US OTC: MTGDY
ECR MINERALS plc
(“ECR Minerals”, “ECR” or the “Company”)
LONDON: 4 AUGUST 2017 - The directors of ECR Minerals plc are pleased to announce the appointment of Weili Tang (aged 51) as a director and Non-Executive Chairman of ECR with immediate effect. In addition, William (Bill) Howell has resigned as a director of the Company, also with immediate effect.
Until earlier this year, Mr Tang, also known as David, was the President of China Nonferrous Metals Int’l Mining Co., Ltd. (CNMIM) and the Managing Director of China Nonferrous Gold Ltd, an AIM-listed company which was formerly known as Kryso Resources plc. China Nonferrous Gold is focused on the Pakrut gold mine in Tajikistan, where first gold was poured in 2015.
Mr Tang graduated with a Bachelor of Science degree (1988) majoring in computer science from Central-South University, China and also holds a Master of Science degree (1991). In the 1990s, he pioneered the trading system for the first nonferrous metals futures exchange in China. He worked for several years in Canada in investment management and consulting, before returning to China to take up office at CNMIM in 2003. He was appointed a director of Kryso in 2010.
Craig Brown, CEO of ECR, commented:
“David Tang introduced ECR to Shenyang Xinliaoan Machinery Co Ltd, who recently became a strategic shareholder in the Company, and this is indicative of his wide range of high-level connections in the mining industry. I know David well, having worked with him at China Nonferrous Gold, and I feel sure that he will make a valuable contribution as ECR’s new Non-Executive Chairman.
Bill Howell has been chairman through a turbulent period in ECR’s history, and for the junior mining sector in general. His experience and advice has been invaluable, but as the Company’s shareholder base and strategy are evolving, it is only right that the composition of the board should evolve too. We wish Bill the very best in his future endeavours.”
Additional Information Required by AIM Rule 17
Pursuant to Rule 17, Schedule Two (g) of the AIM Rules, the following information is disclosed in respect of David Tang:
|Current appointments||Appointments in the last five years|
|Landmark Resources Limited||China Nonferrous Metals Int’l Mining Co, Ltd.|
|China Nonferrous Gold Ltd|
|CNMC Kabwe Mining Ltd|
|International Mining Supplies & Services Ltd|
|Kryso Resources Ltd|
|Kryso Resources plc|
There is no other information regarding Mr Tang required to be disclosed under the AIM Rules.
ECR is a mineral exploration and development company. ECR’s wholly owned Australian subsidiary Mercator Gold Australia has acquired 100% ownership of the Avoca, Bailieston, Moormbool and Timor gold projects in Victoria, Australia.
ECR has earned a 25% interest in the Danglay epithermal gold project, an advanced exploration project located in a prolific gold and copper mining district in the north of the Philippines. An NI43-101 technical report was completed in respect of the Danglay project in December 2015, and is available for download from ECR’s website.
ECR’s wholly owned Argentine subsidiary Ochre Mining has 100% ownership of the SLM gold project in La Rioja, Argentina. Exploration at SLM has focused on identifying small tonnage mesothermal gold deposits which may be suitable for relatively near-term production.
MARKET ABUSE REGULATIONS (EU) No. 596/2014
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (MAR). Upon the publication of this announcement via Regulatory Information Service (RIS), this inside information is now considered to be in the public domain.
FOR FURTHER INFORMATION, PLEASE CONTACT:
|ECR Minerals plc||Tel: +44 (0)20 7929 1010|
|Weili (David) Tang, Non-Executive Chairman|
| Craig Brown, Director & CEO |
Ivor Jones, Director & COO
|WH Ireland Limited||Tel: +44 (0) 161 832 2174|
| Katy Mitchell |
|Optiva Securities Ltd||Tel: +44 (0)203 137 1902|
|FlowComms||Tel: +44 (0)7891 677 441|
FORWARD LOOKING STATEMENTS
This announcement may include forward looking statements. Such statements may be subject to numerous 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), the Company disclaims any obligation to update or modify such forward-looking statements because of new information, future events or for any other reason.
ECR Minerals plc