Mr. Troy Grant reports

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

As a result of delays to Elcora Advanced Materials Corp.'s audit, the company's annual financial statements and accompanying management's discussion and analysis for the fiscal year ended March 31, 2023, were not finalized by July 31, 2023, being the date that such filings are due under applicable Canadian securities law requirements. Further to its news release of July 25, 2023, the company applied for, and has been granted, a management cease trade order (the MCTO) by the Nova Scotia Securities Commission.

The company has been delayed in filing its audited financial statements as a result of a delay in receiving information from its subsidiary in Morocco that is required to complete the audit.

The company currently expects to file the annual filings on or before Sept. 30, 2023, and will issue a news release announcing the completion of the filings at such time. Until the company files the annual filings, it will comply with the alternative information guidelines set out in National Policy 12-203 -- Management Cease Trade Order for issuers who 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.

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 minerals and metals industry.

We seek Safe Harbor.