Mr. Marc Lafleche reports

ECORA RESOURCES PLC ANNOUNCES Q1 2024 TRADING UPDATE

Ecora Resources PLC has issued the following trading update for the period Jan. 1, 2024, to March 31, 2024.

Ecora is the leading royalty company focused on supporting the supply of industrial commodities essential to creating a sustainable future. The group has a portfolio that combines near-term volume growth in 2024 and 2025 from its producing royalty portfolio with a pipeline of development projects that are expected to drive material medium-term revenue growth.

Marc Bishop Lafleche, chief executive officer of Ecora, commented: "The portfolio performed in line with expectation, production at Kestrel returned to our private royalty area driving a 117-per-cent increase in portfolio contribution compared to Q4 23 ($19.5-million versus $9-million). Mining at Kestrel is expected to remain within the bounds of our royalty area throughout the quarter, which should underpin a strong H1.

"We are keeping a close eye on the progress of the ramp-up at Voisey's Bay, the publication of the Santo Domingo feasibility study and the development plan for the West Musgrave nickel-copper project."

Highlights:

• Portfolio contribution of $19.5-million, up 117 per cent on Q4 2023 primarily due to operations at Kestrel moving back within the group's private royalty area, with the rest of the portfolio producing volumes in line with expectations;
• Saleable production volumes within the group's private royalty lands at Kestrel totalled 660,000 tonnes;
• Fiscal year 2024 guidance remains unchanged at a 15-per-cent to 25-per-cent increase on fiscal 2023 (1.6 million tonnes), with the majority of royalty receipts expected to be in the first half;
• Two cobalt deliveries from Voisey's Bay during the period at an average realized sales price of $16 per pound; fiscal year guidance remains unchanged at 12 to 16 deliveries of cobalt subject to scheduled ramp of underground activity in the second half;
• On April 18, 2024, BHP stated that the results of a review into the potential phasing and capital spend for the West Musgrave development project will be announced in August, 2024;
• Capstone Copper is scheduled to release the updated Santo Domingo feasibility study during the first half of 2024;
• Continue to expect year-over-year production volume growth at operations underlying producing royalty portfolio in 2024 and 2025;
• Net debt at March 31, 2024, was $87-million, providing the balance sheet flexibility to pursue further growth.

About Ecora Resources PLC

Ecora Resources is a leading royalty company focused on supporting the supply of commodities essential to creating a sustainable future.

The company's vision is to be globally recognized as the royalty company of choice synonymous with commodities that support a sustainable future by continuing to grow and diversify the company's royalty portfolio in line with Ecora's strategy. The company will achieve this through building a diversified portfolio of scale over high-quality assets that drive low-volatility earnings growth and shareholder returns.

The mining sector has an essential role to play in the energy transition, with commodities such as copper, nickel and cobalt -- key materials for manufacturing batteries and electric vehicles. Copper also plays a critical role in the electricity grids. All these commodities are mined and there are not enough mines in operation today to supply the volume required to achieve the energy transition.

Ecora's strategy is to acquire royalties and streams over low-cost operations and projects with strong management teams in well-established mining jurisdictions. The company's portfolio has been reweighted to provide material exposure to this commodity basket and Ecora has successfully transitioned from a coal-orientated royalty business in 2014 to one that, by 2026, will be materially coal-free and comprise over-90-per-cent exposure to commodities that support a sustainable future. The fundamental demand outlook for these commodities over the next decade is very strong, which should significantly increase the value of the company's royalty portfolio.

Ecora's shares are listed on the London Stock Exchange and Toronto Stock Exchange (ECOR) and trade on the OTCQX Best Market (OTCQX: ECRAF).

We seek Safe Harbor.