Mr. Troy Grant reports

ELCORA PROVIDES STATUS UPDATE ON MANAGEMENT CEASE TRADE ORDER AND FILING OF ANNUAL FINANCIAL STATEMENTS

Elcora Advanced Materials Corp. has provided an update with respect to the previously announced management cease trade order that was issued by the Nova Scotia Securities Commission on Aug. 1, 2023. The company confirms that as of today, it has completed and filed its audited annual financial statements for the year ended March 31, 2023, and management's discussion and analysis, and related chief executive officer and chief financial officer certificates for the period, which were required to be filed on or before July 31, 2023.

The MCTO will remain in effect until the commission's executive director has revoked the MCTO. The company's CEO, CFO and directors will continue to cease in trading of the company's securities until two full business days have passed following the receipt by the commission of all filings the company is required to make under Nova Scotia securities laws, or further order of the executive director.

Furthermore, the company confirms that since the date of the default announcement, other than as described above: (a) there has been no material change to the information set out in the default announcement that has not been generally disclosed; (b) there has been no failure by the company in fulfilling its stated intentions with respect to satisfying the provisions of the alternative information guidelines set out in National Policy 12-203; (c) there has not been, nor is there anticipated to be, any specified default subsequent to the default, which is the subject of the default announcement; and (d) there is no other material information concerning the affairs of the company that has not been generally disclosed.

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.