Independent Review Supports Pathway Towards Increased Recovery Potential Lidar Survey Completed and Queensland Technical Team Expansion Underway

ECR Minerals plc (AIM: ECR), the gold exploration and development company focused on Australia, is pleased to provide an operational update on activities at its Raglan Gold Project in Queensland, Australia.  The Company has completed several initiatives in recent weeks which gives it confidence that more consistent gold production and recovery outcomes can be achieved from the project.

Highlights

Lidar Survey Completed

The Company is pleased to confirm that a drone Lidar (Light Detection and Ranging) survey was completed by Victorian Geology and Survey Solutions across the Raglan Project area during May 2026. Processing and interpretation of the survey data is currently underway.

The Board believes that the survey has the potential to significantly improve ECR’s understanding of historical drainage systems, palaeochannels and mining targets across the project area. The interpreted data is expected to assist future mine planning, identify additional mining opportunities and support production scheduling activities.

Mining operations to date have already identified areas with potentially higher gold grades, specifically gullies into the main stream which can act as traps for alluvial gold. The survey therefore forms an important component of the Company’s ongoing efforts to optimise mining operations and maximise the broader potential of the Raglan Project.

Operations Update 

Since acquiring the Raglan Project, the Company has focused on operating the processing plant and mobile mining fleet, establishing mining operations and developing a detailed understanding of the alluvial system.  Alluvial mining is fundamentally about processing large volumes of material where small alterations to technique can have a significant effect on results.

As part of this process, ECR recently engaged an independent alluvial gold specialist with more than 30 years of operational experience in the alluvial mining sector in Australia to undertake a comprehensive review of both Raglan’s processing plant and mining methodology.

The review identified several adjustments to optimise gold recovery across the processing circuit. These included improvements to gravity recovery systems, water management, jig performance and overall plant calibration.  Based on initial analysis, the Board believes that this optimisation programme can increase the recovery potential at the Raglan Project.

Mining Development 

The independent review also included a detailed assessment of mining operations and interpretation of the alluvial system. Priority target areas have been identified within ECR’s existing phase 1 mining plan and activities are now being directed towards these zones which, based on ground analysis, are believed to represent favourable sections of the historical river channel system.  In time, the findings from the Lidar data will also be integrated, with a view  to further enhancing the operation’s efficiency.

Queensland Growth Strategy

As part of its broader Queensland growth strategy, ECR has commenced the process of appointing a consulting geologist to support its development, exploration and production activities across its Queensland gold portfolio. This is particularly in the context of ECR completing its acquisition of Paleogold Limited and associated transactions, as announced on 18 May 2026.

The successful candidate will work alongside the Company’s current operational team and will provide geological oversight across multiple projects, including Raglan, Blue Mountain, Lolworth, Maddens and other new potential development opportunities for the Company’s portfolio.

The role is expected to support mine planning, production optimisation, exploration targeting and development activities as ECR continues to expand its Queensland operations.

The Company believes that the addition of specialist geological expertise, together with its recent operational improvements and the completion of the Lidar survey, will further strengthen its ability to advance multiple Queensland assets simultaneously.

ECR Chairman Nick Tulloch commented: “We recognise that shareholders have been waiting for an update on Raglan.  We bought the project as a turnkey operation and it has delivered on that – plant and equipment with a like-for-like replacement value in excess of the acquisition price and a mining lease that is showing very promising opportunities.

“Put simply, alluvial gold production is about mining in the right locations, processing the right material and ensuring the plant settings are optimised for that material.  Fairly small changes can produce significant results.  There has inevitably been some operational learning on site over these early months, but Raglan is now beginning to demonstrate the characteristics we expected when we acquired the project.

“The independent review has proven extremely valuable and has provided a significantly improved understanding of both the processing plant and mining operations. Importantly, we now have a plan in place to maximise gold recovery across the plant and a clearer pathway towards establishing consistent gold production. 

“Completion of the Lidar survey will complement existing geological analysis as we continue to both refine our phase 1 mining plan and identify new areas.

“Raglan is a key component of ECR’s strategy to build a meaningful Queensland gold business. It was never expected to be our biggest project, but it is our first operational project, giving us initial gold production as we expand into bigger operations in Queensland and elsewhere in Australia.

“The work undertaken over recent weeks has given us considerably greater confidence in the broader mining opportunity at Raglan. While optimisation work remains ongoing, we believe that the project is moving into a stronger operational position and we look forward to updating shareholders as these improvements support more consistent gold production and recovery outcomes.”

Review of Announcement by Qualified Person

This announcement has been reviewed by Michael Parker, Non-Executive Director of ECR Minerals Plc. Michael Parker has a BSc. In Mining Geology and is a professional geologist and is a Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM). He is a qualified person as that term is defined by the AIM Note for Mining, Oil and Gas Companies.

FOR FURTHER INFORMATION, PLEASE CONTACT:

ECR Minerals Plc Tel: +44 (0) 20 8080 8176
Nick Tulloch, Chairman

Andrew Scott, Director

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