ECR MINERALS PLC

Remuneration Information • Oct 20, 2023

National Storage Mechanism | Additional information

RNS Number : 8660Q

ECR Minerals PLC

20 October 2023

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.

Name of Director	Option issued on 17 April 2023 (three tranches exercisable at 1p, 2p and 3p)	Option issued 23 January 2022 (at an exercise price of 2.2p	Total Options which are the subject of the Cancellation	Total Options held by directors following the Cancellation
David Tang (Chairman)	6,000,000	10,000,000	16,000,000	NIL
Adam Jones	12,000,000	5,000,000	17,000,000	NIL
Andrew Scott	6,000,000	15,000,000	21,000,000	NIL
Nick Tulloch	NIL	NIL	NIL	NIL
Trevor Davenport	NIL	NIL	NIL	NIL
TOTAL	24,000,000	30,000,000	54,000,000	0

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."

FOR FURTHER INFORMATION, PLEASE CONTACT:

ECR Minerals plc		Tel: +44 (0) 20 7929 1010
David Tang, Non-Executive Chairman Nick Tulloch, Managing Director Andrew Scott, Director
Email: info@ecrminerals.com
Website: www.ecrminerals.com
WH Ireland Ltd		Tel: +44 (0) 207 220 1666
Nominated Adviser Katy Mitchell / Andrew de Andrade
SI Capital Ltd		Tel: +44 (0) 1483 413500
Broker
Nick Emerson
Novum Securities Limited		Tel: +44 (0) 20 7399 9425
Broker Jon Belliss
Brand Communications		Tel: +44 (0) 7976 431608
Public & Investor Relations
Alan Green

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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCQBLFLXBLBFBV