Mr. Troy Grant reports

ELCORA AND MINCAPE ANNOUNCE EXCITING NEW VENTURE TO DEVELOP MANGANESE MINING OPERATIONS IN MOROCCO FOR THE THRIVING EV BATTERY MARKET

Elcora Advanced Materials Corp. and Mincape SARL have formed a groundbreaking partnership to establish manganese mining operations in Morocco and West Africa. This strategic collaboration aims to support the ever-expanding electric vehicle (EV) battery market and secure a sustainable source of high-quality manganese ore.

As the world transitions toward sustainable energy solutions and electric vehicles gain mainstream adoption, the demand for EV batteries has surged. Manganese plays a pivotal role in enhancing the energy storage capabilities and overall performance of these batteries, making it a crucial mineral in the clean energy revolution.

The partnership brings together Elcora's extensive experience in battery metals, logistics and global market access, and Mincape's profound expertise in geology, research, sustainable resource development and advanced mining technologies. The combined strengths of these industry leaders will drive the development of responsible and environmentally conscious manganese mining operations in Morocco.

Key highlights of this joint venture include:

1. Manganese resource development: Elcora and Mincape will combine their technical know-how and resources to identify and develop current and new manganese deposits in Morocco and West Africa, ensuring a stable supply of high-grade manganese for the EV battery market.
2. Meeting EV battery demand: The partnership's primary objective is to meet the growing demand for manganese from the EV battery industry, contributing to the production of cleaner and more efficient electric vehicles.
3. Global reach: Elcora and Mincape's combined networks and global presence will allow for efficient distribution of manganese to battery manufacturers worldwide.
4. Innovation and research: The partnership also envisions investing in research and development in manganese processing to optimize the use of manganese in next-generation battery technologies.
5. Cutting-edge technology: The partnership will leverage state-of-the-art mining technologies and innovative solutions to ensure efficient operations while minimizing environmental impact.
6. Local economic development: The project will stimulate economic growth in the region by creating job opportunities and fostering local skills development. It is a testament to the commitment of Elcora and Mincape to sustainable and responsible mining practices.
7. Ethical and transparent supply chain: The venture will maintain full transparency throughout the supply chain, ensuring the responsible sourcing of manganese ore to support the EV battery market's ethical requirements.

Troy Grant, chief executive officer of Elcora, expressed his enthusiasm, stating: "Our partnership with Mincape is a significant milestone for Elcora, aligning our values and goals to support the transition to cleaner and more sustainable energy solutions. We are excited to embark on this journey together."

Dr. Hassan Bouzahzah (PhD), manager of Mincape, added: "Mincape is proud to join forces with Elcora in this exciting endeavour. Our combined expertise will ensure a reliable supply of high-quality manganese ore while upholding our commitment to responsible mining practices."

The joint venture marks a crucial step in meeting the increasing global demand for manganese, a pivotal component in the production of EV batteries. Elcora and Mincape's dedication to ethical sourcing, sustainability and advanced mining techniques will contribute to a cleaner and greener future for the automotive industry.

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.

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