Mr. Troy Grant reports

ELCORA ANNOUNCES POSSIBLE LATE FILING OF ANNUAL FINANCIAL STATEMENTS AND MANAGEMENT CEASE TRADE ORDER

As a result of delays to its audit, Elcora Advanced Materials Corp.'s annual financial statements and accompanying management's discussion and analysis for the fiscal year ended March 31, 2023, may not be finalized by July 31, 2023, being the date that such filings are due under applicable Canadian securities law requirements. Accordingly, the company has applied to the Nova Scotia Securities Commission for a management cease trade order.

The company's inability to finalize its annual filings on time is the result of a delay in receiving information from its subsidiary in Morocco that is required to complete the audit.

If the MCTO is granted, the company will comply with the alternative information guidelines set out in National Policy 12-203 (Management Cease Trade Orders) for issuers which have failed to comply with a specified continuous disclosure requirement within the times prescribed by applicable securities laws. The guidelines, among other things, require the company to issue biweekly default status reports by way of a news release so long as the annual filings have not been filed. During the MCTO, the general investing public will continue to be able to trade in the company's listed common shares. However, the company's chief executive officer, chief financial officer and directors will not be able to trade in the company's common shares.

The company will provide an update on its application of the MCTO in a coming news release.

About Elcora Advanced Materials Corp.

Elcora was founded in 2011 and has been structured to become a vertically integrated battery material company. Elcora can process, refine and produce battery-related minerals and metals. As part of the vertical integration strategy, Elcora has developed a cost-effective process to purify high-quality battery metals and minerals that are commercially scalable. This combination means that Elcora has the tools and resources for vertical integration of the battery mineral and metal industry.

We seek Safe Harbor.