Echo Energy PLC announced that its wholly owned subsidiary, Echo Natural Resources Limited has entered into a shareholders joint venture agreement regarding a 50:50 joint venture company in Peru with the founding partners of Boku Resources SAC ("Boku" or the "JV"), to participate in the interests of Boku, being gold and silver mining and the cleaning of known tailings deposits containing gold and silver in Peru (the "JV Agreement"). Through Boku, Echo has secured an opportunity to scale operations in Peru, with experienced local partners, producing gold and silver through primary mining and tailings cleaning, owning 50% of the production and potential resources. The JV Agreement: Under the terms of the JV Agreement, Echo will commit a total amount, in aggregate, of up to $750,000 toBoku, over a period of 18 months, as consideration for it taking a 50% interest in Boku.

Echo received a 50% interest in Boku upon entering into the JV Agreement. The consideration will be provided in monthly instalments based on the working capital requirements of Boku necessary to develop the mining projects in its portfolio. The initial consideration payable by Echo upon entering this agreement is $12,500.

Pursuant to the JV agreement, Echo directors Stephen Birrell and Christian Yates have been appointed to the board of Boku. Christian Yates, Non-Executive Chair of Echo, will act as President of the board, having a casting vote, and will serve for an initial term of three years. The JV Agreement will be governed by the laws of Peru.

In order to comply with the ASM legislation in Peru, the JV will operate between Echo andBoku through a Bare Trust Agreement ("BTA"). The BTA is between Echo and a local Peruvian agent, Dentons Gallo Barrios Pickmann Abogados (the "Agents"). The Agents hold the 50% of Boku in trust for Echo.

The Agents constitute a usufruct right over the shares in Boku in favour of Echo and provides Echo the right to receive all economic benefits and political rights. Through the agreement the Agents express and recognise that Echo is the 100% holder of the rights and shares of Boku. The Agents are irrevocably bound to carry out all acts mandated by Echo and may not enter into contracts or assume obligations unless expressly authorised in writing by Echo.