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Echo Resources Ltd.

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Summary

Project:

Julius

Deposit:Julius
Location:Australia
Commodities:Gold
Date:1/18/2017
Report Code:JORC
Report Type:Feasibility Study
Project Stage:Pursuing Resource Increase/Upgrade
Report details:18-1-2017: Echo Resources Ltd. announces a Feasibility Study report for its Julius deposit at the Julius project. Stage 1 BFS results incl. NPV (0%) of $23.9M, IRR of 117%. Echo Resources Limited (‘Echo’ or ‘the Company’) is pleased to release the results
Resources:(Reserve, P+P): 0.87Mt @ 2.4g/t Au for 68100oz Au contained at Julius
CP/QP:[Overall Report]: n/a (n/a)
ABSTRACT:Echo Resources Limited (‘Echo’ or ‘the Company’) is pleased to release the results of the Julius Gold Deposit Stage 1 Bankable Feasibility Study (‘Julius BFS’). CEO Mr Simon Coxhell, commented: “The Julius BFS demonstrates the very robust nature of the orebody with low cash costs and a very high IRR of 117% which includes all of the capital required to refurbish the Bronzewing infrastructure. “There exist a number of excellent opportunities within a short distance from the Bronzewing Mill to substantially add to the mill feed. Currently Echo’s global Mineral Resource estimate stands at 16Mt at 1.8g/t for approximately 950,000 ounces1 . We have reviewed all available data and now plan to prioritise these resources to substantially add to the mine life”. The BFS was prepared on the 335,000 ounce (5.2Mt @ 2.0g/t Au)2 Julius Gold Deposit located 80 kilometres north of the Echo-owned 2Mtpa Bronzewing Processing Facility in the Yandal greenstone belt, Western Australia. The BFS confirms the 2Mtpa Bronzewing Processing Facility, acquired by Echo under the recently completed merger with Metaliko Resources Limited (‘Metaliko’, ASX: MKO), can be refurbished for A$12.5M and confirms Julius is an economic, low-risk deposit and ideal first-feed as part of a long life Yandal gold mining operation.

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