Mr. Geoff Callow reports

ECORA RESOURCES PLC ANNOUNCES VOISEY'S BAY UPDATE

Vale Base Metals published a news release on Dec. 3, 2024, announcing the completion of the Voisey's Bay mine expansion project. Ecora Resources PLC has a stream agreement that entitles it to receive 22.82 per cent of all cobalt production from the Voisey's Bay mine.

The expansion project transitioned Voisey's Bay from open-pit to underground mining. The project involved the development of two underground mines -- Reid Brook and Eastern Deeps -- which will deliver concentrate for processing at the company's Long Harbour processing plant, one of the lowest-emission nickel processing plants in the world.

In addition to the increased nickel production, the project will produce 2,600 tonnes per annum of cobalt on average over the life of mine. Full ramp-up is expected by the second half of 2026.

Note: The group is entitled to receive 22.82 per cent of all cobalt production from Voisey's Bay up until 7,600 tonnes of finished cobalt have been delivered and an 11.41-per-cent entitlement thereafter.

About Ecora Resources PLC

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

Ecora'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 its royalty portfolio in line with the company's strategy. Ecora will achieve this through building a diversified portfolio of scale over high-quality assets that drives 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 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-oriented 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 Ecora's royalty portfolio.

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

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