Elcora's Subsidiary Ermazon Achieves Milestone: Debut of Manganese Ore Mining and Delivery, Secures Future Orders, and Expands Mining Operations

HALIFAX, Aug. 23, 2023 - Elcora Advanced Materials Corp. (TSX.V:ERA | Frankfurt:ELM | OTCQB - ECORF), (the "Company" or "Elcora"), proudly announces a significant achievement through its wholly owned Moroccan subsidiary, Ermazon SARL. Ermazon has successfully marked its debut in the mining and delivery of manganese ore to esteemed clients, securing future orders, and unveiling plans to expand its mining operations to new sites.

This accomplishment signifies a pivotal moment in Elcora's strategic growth and operational excellence. The successful initiation of manganese ore mining and delivery by Ermazon SARL demonstrates the company's commitment to meeting the increasing demands of the market while upholding the highest industry standards. Elcora has started generating revenues during Q2 of its current fiscal year.

"We are thrilled to announce Ermazon SARL's successful entry into the manganese ore mining sector," said Troy Grant, CEO of Elcora. "This achievement underscores our dedication to delivering high-quality products to our clients and expanding our presence in the global market."

Ermazon SARL's strong market entry is further reinforced by the securing of future orders, indicating a promising trajectory for the subsidiary's growth and profitability. This achievement reflects the confidence and trust that clients have in Elcora's commitment to excellence.

Looking ahead, Ermazon SARL is actively advancing its operations by developing additional mining sites. This strategic move underscores Elcora's long-term vision of sustainable growth and its dedication to responsible resource development.

"Expanding our mining operations to new sites is a testament to our focus on innovation, operational efficiency, and environmental stewardship," added Troy Grant. "We are committed to harnessing the potential of these sites while adhering to the highest environmental and social standards."

Elcora remains committed to leveraging its expertise and resources to contribute positively to the global industry and local communities. Through Ermazon SARL's achievements, the company aims to solidify its position as a leading player in the manganese ore sector while fostering economic development and environmental sustainability.

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.

For further information please visit the company's website at:

http://www.elcoracorp.com

For further information please contact: Troy Grant, Director, President & CEO, Elcora Advanced Materials Corp., T: +1 902 802-8847

CAUTIONARY STATEMENT:

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock Exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

This News Release includes certain "forward-looking statements". All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Elcora, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Elcora's expectations are exploration risks detailed herein and from time to time in the filings made by Elcora with securities regulators.

Investors are cautioned that, except as disclosed in the filing statement prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon.