Business
JV heads of terms to advance the Creswick Project
ECR Minerals has entered a non-binding heads of terms with Bold Gold for a proposed joint venture covering the Creswick Gold Project. Bold Gold will fund exploration costs, with an initial A$250,000 commitment in the first 12 months. Bold Gold may invest up to A$3 million to earn an 80% interest through staged exploration expenditure. ECR would retain a minimum 20% interest or elect to receive a royalty. Bold Gold will commit to spending A$1.25 million on exploration over two years to earn a 51% interest, and a further A$1.75 million (or A$1.5 million) over another two years to reach 80%. The Creswick Gold Project had unaudited total assets of approximately £1.44 million and unaudited capitalised expenditure of approximately £0.175 million for the year ended 30 September 2024. Disclaimer*
About this update from Ecr Minerals Plc
[{"type":"text","content":"\n\n \n\n \n18 September 2025\n \nECR MINERALS PLC\n \n(\"ECR Minerals\", \"ECR\" or the \"Company\")\n \nJoint venture heads of terms to advance the Creswick Gold Project, Victoria\n \nECR Minerals plc (AIM: ECR), the gold exploration and development company focused on Australia, is pleased to announce that ECR Minerals (Australia) Pty Ltd, a wholly owned subsidiary of ECR, has entered into a non-binding heads of terms with Exertis Pty Ltd trading as Bold Gold (\"Bold Gold\") for a proposed joint venture (the \"Proposed JV\") covering the Company's Creswick Gold Project (\"Creswick\" or the \"Project\") in Victoria, Australia.\n \nHIGHLIGHTS\n· Completion of the Proposed JV is expected to fund exploration costs at Creswick without further dilution to ECR shareholders\n· Proposed initial A$250,000 exploration commitment to be spent in the first 12 months\n· Bold Gold proposed to invest up to A$3 million to earn an 80% interest through staged exploration expenditure\n· ECR would retain a minimum 20% interest in Creswick or alternatively elect to receive a royalty interest while continuing to advance Blue Mountain and pursue other opportunities\n \nDetails of the Proposed JV\n \nUnder the Proposed JV, Bold Gold will be responsible for all mandated expenditure on the Creswick licences during the Proposed JV period, up to a limit of A$3 million, for which it would earn a maximum 80% interest in the Project. ECR's only commitment will be to assist Bold Gold in certain renewals of the Project's licences. \n \nUpon the execution of a binding joint venture agreement, Bold Gold will commit to a minimum exploration spend of A$250,000 during the first 12 months of the JV. Following this, Bold Gold will also commit to spend an aggregate of A$1.25 million on exploration in the Project area over a two-year period, to earn an interest of 51% in the Project. Thereafter, Bold Gold would spend a further A$1.75 million (or A$1.5 million should part of the Project be converted into a retention licence or otherwise renewed) on exploration in the Project area over a further two year period, to earn an interest of 80% in the Project.\n \nBold Gold would be obliged to s...