Update on Royalty of up to A$2 Million

ECR Minerals

16/03/2026 07:00

RNS Number : 6757W

ECR Minerals PLC

16 March 2026

 

 

 

16 March 2026

 

ECR MINERALS PLC

 

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

 

Update on Royalty of up to A$2 Million over Victoria gold projects

 

ECR Minerals plc (AIM: ECR), the gold exploration and development company focused on Australia, notes that Leviathan Metals Corp. has entered into an agreement to sell its Timor Gold project in Victoria, Australia to Au Gold Corp. (TSX: AUGC).  As part of this sale, ECR has consented to an assignment of the royalty interest that it holds over the Timor Gold project.

 

Highlights

•     ECR retains a royalty interest of up to A$2 million over the Avoca and Timor licences in Victoria

•     Royalty payments are linked to future resource estimates and gold production

•     ECR's royalty interest over the Timor Gold project licence is being assigned by Leviathan Metals Corp. to Havelock Gold, a subsidiary of Au Gold Corp.

 

The royalty originates from ECR's 2020 sale of certain gold projects in Victoria through which ECR's wholly owned subsidiary, ECR Minerals (Australia) Pty Ltd, is entitled to receive the following in respect of the Avoca and Timor projects:

 

1.    A$1 per ounce of gold or gold equivalent defined within a measured, indicated or inferred mineral resource estimate within the licences, capped at A$1,000,000; and

 

2.    A$1 per ounce of gold or gold equivalent produced from the licences, capped at A$1,000,000.

 

Aside from providing consent for the assignment of the royalty, the Company is not directly involved in the transaction. The assignment of the Timor project royalty to Havelock Gold includes appropriate warranties and indemnities to ensure the continued performance of the royalty arrangements previously agreed with Leviathan Metals Corp.  ECR's Avoca project royalty interest remains with Leviathan Metals Corp.

 

While ECR has no operational involvement in these licences, the Board believes the royalty represents potential future upside for ECR shareholders should exploration or development activities progress.

 

Nick Tulloch, Chairman of ECR Minerals, commented: "We consider that the Avoca and Timor royalty represents a potentially valuable legacy asset within ECR's portfolio which could deliver up to A$2 million to the Company.  Importantly, this royalty sits alongside our core Australian portfolio and requires no further capital investment from ECR, meaning any future payments would represent a direct financial benefit to the Company.

 

"With strong gold prices and renewed exploration interest in Victoria, we look forward to engaging with Havelock Gold to better understand their plans for the licence and the potential to unlock this value for our shareholders."

 

FOR FURTHER INFORMATION, PLEASE CONTACT:

 

ECR Minerals plc
Tel: +44 (0) 20 8080 8176
Nick Tulloch, Chairman
Andrew Scott, Director
info@ecrminerals.com
Website:www.ecrminerals.com
Allenby Capital Limited
Tel: +44 (0)3328 5656
Nominated Adviser and Joint Broker
Alex Brearley / Nick Naylor / Vivek Bhardwaj (Corporate Finance)
Kelly Gardiner (Sales and Corporate Broking)
info@allenbycapital.com
OAK Securities
Joint Broker
Jerry Keen / Robert Bell
Tel: +44(0) 203 973 3678
Axis Capital Markets Limited
Tel: +44 (0)203 026 0320
Joint Broker
Lewis Jones
SI Capital Ltd
Tel: +44 (0) 1483 413500
Joint Broker
Nick Emerson
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 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 Metals Corp (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.

 

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