May 2 (Reuters) - Echo Resources Ltd EAR.AX :
* ANNOUNCES PLACEMENT TO RAISE UP TO $15 MILLION AT $0.13 PER SHARE
* UP TO $3 MILLION PROCEEDS RECEIVED FROM SPP WILL BE APPLIED TO FURTHER EXPLORATION ACTIVITIES AT YANDAL GOLD PROJECT
* ECHO'S LARGEST SHAREHOLDER NORTHERN STAR RESOURCES LTD INTENDS TO SUBSCRIBE FOR UP TO $3.4 MILLION OF PLACEMENT
* ALSO ANNOUNCES SHARE PURCHASE PLAN (SPP) FOR ELIGIBLE SHAREHOLDERS TO RAISE UP TO $3 MILLION