Proactive investors

Projects and Investments:

ACS Asia: Asia-Pacific Focused Metal Products Business

ECR holds a 70% economic interest in ACS Asia, an Asia Pacific focused metal products business with a modern facility in Rayong, Thailand.

ACS Asia’s core product lines are electrical and mechanical support systems, for use with cables and pipes within major structures. Significant buyers of these products include the mining, infrastructure and general large commercial construction sectors.

Sierra de las Minas and Los Aquirres Projects - Gold and Base Metal Exploration in Argentina

The Sierra de las Minas project extends over an area of approximately 75,000 hectares and contains numerous historic small scale gold mining areas and widespread other gold and base metal showings.

The Los Aquirres project extends over approximately 5,000 hectares and is located around 50km due north and along strike from Sierra de las Minas.

Both projects are considered prospective for the discovery of new hydrothermal (mesothermal/epithermal) gold deposits, potentially associated with silver and base metals.

La Rioja Province is located in the northern central part of Argentina approximately 800km northwest of Buenos Aires. La Rioja has a history of mining and is supportive of further investment in the sector.

Both the Sierra de las Minas and Los Aquirres projects are accessible by paved highways from the cities of Mendoza, San Juan and Cordoba, and are less than one hour’s driving time from the town of Chepes. Local access is by paved and unpaved provincial routes.

Meekatharra Gold Project

An offer from Meekatharra Gold Corporation (MGC) to acquire the Meekatharra gold project in Western Australia has been accepted by the administrators of Mercator Gold Australia Pty Ltd (MGA) on behalf of creditors.

MGA, a 100% owned subsidiary of ECR incorporated in Australia, entered voluntary administration in late 2008 as a result of financial distress arising from difficulties encountered by gold mining operations at the Meekatharra gold project.

It is ECR’s expectation that the acquisition of the Meekatharra gold project will be completed by MGC during 2010. As MGA’s largest creditor ECR expects to receive a stake in MGC, which plans to list in Canada in order to obtain funding for the redevelopment of the Meekatharra project.

Completion of the acquisition of Meekatharra by MGC will also allow control of MGA to return to ECR. MGA has accumulated sizable operating and capital tax losses which are expected to be of significant value.

Paniai Gold Project - Near Term Gold Production in Indonesia

ECR holds 50 million shares in Paniai Gold Limited, a company focused on the development of the Derewo River gold project in Papua Province, Indonesia and which aims to list on the National Stock Exchange of Australia (NSX). ECR’s holding is expected to equate to around 15% of Paniai’s issued share capital post listing.

Paniai holds a 50% interest in a joint venture over the Derewo River project with a local company. The joint venture intends to mine sizable bodies of gold bearing gravels identified within the Derewo River project area, with production expected to commence in the relatively near term. Paniai will also undertake exploration for new gold and copper-gold deposits.

Indonesia’s Papua Province is one of the world’s most prospective areas for mineral exploration, and the Derewo River project is located approximately 100 kilometres from the Grasberg copper-gold mine operated by Freeport McMoRan Copper & Gold.

Silver Swan Group - Exploration Success in Western Australia

Silver Swan Group Limited (ASX: SWN) has made a significant base metal discovery of the volcanogenic massive sulphide (copper-zinc-gold-silver) type at its Austin prospect in Western Australia, which is located on tenements acquired from ECR in 2008.

ECR holds four million performance shares in Silver Swan, which convert to ordinary shares subject to certain conditions. The most significant condition is the identification by Silver Swan of a minimum 350,000oz gold equivalent in the JORC Indicated Mineral Resource category (or higher) on the tenements sold to it by ECR.

In April 2010 Silver Swan announced the completion of a maiden JORC resource statement for the Austin deposit. A total gold equivalent figure of 134,805oz was calculated by ECR based on metal prices at that date.

In April 2010 Silver Swan announced the completion of a maiden JORC resource statement for the Austin deposit. A total gold equivalent figure of 134,805oz was calculated by ECR based on metal prices at that date.

ECR staked the original claim over the Austin prospect and was instrumental in the appointment of key management to Silver Swan.

THEMAC Resources Group - Returning the Copper Flat Mine to Production

THEMAC Resources Group (TSXV: MAC.H), has agreed to acquire ECR’s exclusive option over a 100% interest in the Copper Flat project, a former producing open pit copper-molybdenum-gold-silver mine located in New Mexico, USA.

THEMAC Resources intends to exercise the option after its acquisition and to return the Copper Flat mine to production, subject to successful negotiation of the necessary feasibility, financing and permitting stages.

The Copper Flat mine was closed in 1982 due to low copper prices, but major civil infrastructure is still in place at the site including the tailings dam, largely pre-stripped open pit, power lines, water well field and pipeline, access roads, diversion channels and building foundations. This represents a significant portion of the capital investment that would be required if the project were to be brought into production from scratch.

Alta Gold largely completed permitting of a proposed restart of the Copper Flat mine in the late 1990s, allowing THEMAC Resources to leverage this work as well as that completed by the original operator Quintana Minerals Corporation for the present day permitting process.

Warm Springs Solar Project - Ideally Located for Solar Development

ECR has entered into a partnership with Remote Energy Solutions, LLC (RES), an established renewable energy development company, for the development of the Warm Springs solar power project in New Mexico, USA.

New Mexico is an ideal location for solar power development on the basis of its climate and the supportive attitude of state and federal authorities towards renewable energy projects.

The Warm Springs project is to be developed by ECR’s subsidiary Warm Springs Renewable Energy Corporation (WSREC). RES will manage the development of the Warm Springs project and will hold an initial 10% interest in WSREC.

The primary objective of the Warm Springs project is the construction of a 20MW solar power plant, permitting of which is targeted for completion during 2010 with construction targeted to commence during 2011. For the nearer term, WSREC is evaluating the possibility of commencing construction of an initial 2MW phase of the Warm Springs project before the end of 2010.