Mr. Geoff Callow reports

ECORA RESOURCES PLC ANNOUNCES CANARIACO PROJECT UPDATE

Ecora Resources PLC has noted the press releases issued today by Fortescue Ltd. and Alta Copper Corp. announcing that they have entered into a binding agreement under which Fortescue proposes to acquire the remaining 64 per cent of Alta Copper's issued and outstanding common shares not already owned by Fortescue.

Alta Copper is the 100-per-cent owner of the Canariaco copper project, located in northern Peru within an emerging porphyry corridor that hosts several large exploration and development opportunities. The Canariaco project comprises 91 square kilometres of highly prospective tenure and includes the Canariaco Norte deposit, the Canariaco Sur deposit and the Quebrada Verde prospect.

Alta Copper published an optimized preliminary economic assessment for the Canariaco project on June 10, 2024, which estimated annual average copper production of 158,000 tonnes for the first 10 years and 134,000 tonnes across the life of the mine.

Ecora holds a 0.5-per-cent net smelter return royalty on the Canariaco project.

The transaction remains subject to various approvals, the details of which are included in the full announcement from Fortescue.

About Ecora Resources PLC

Ecora is a leading critical-minerals-focused royalty company.

Ecora's vision is to be globally recognized as the royalty company of choice synonymous with commodities that support trends of electrification 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 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. Ecora'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 the end of 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 the Toronto Stock Exchange (symbol: ECOR) and trade on the OTCQX Best Market (symbol: ECRAF).

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