Elcora Reports High-Grade Vanadium-Lead Mineralisation from surface samples in Morocco, Advancing Downstream Strategy in a Critical-Mineral Market

HALIFAX, NOVA SCOTIA — (Globenewswire — April 16, 2026)

Key Highlights

• Vanadium grades of approximately 4–5% reported from selected surface samples — materially above the global industry average of below 1% V₂O₅
• Lead at approximately 33% average in surface vanadinite samples, subject to future metallurgical test work and economic evaluation
• Exploration in the Kingdom of Morocco — an established, investor-friendly mining jurisdiction with proximity to European and North American markets
• Downstream-first strategy focused on processing, value-add, and end-use alignment — reducing commodity exposure
• Vanadium redox flow batteries (VRFBs) represent a growing demand driver, with supply heavily concentrated in Russia and China (>75%)

Elcora Advanced Materials Corp. (the “Company” or “Elcora”) is pleased to provide an update on its vanadium surface sampling program in the Kingdom of Morocco and an overview of its strategic positioning as it advances into 2026.

Vanadium: A Critical Mineral at the Intersection of Infrastructure and Energy Transition

Vanadium is a high-value critical mineral with two distinct and growing demand drivers. First, steel and infrastructure: approximately 85–90% of global vanadium consumption is tied to steelmaking, where even small additions enhance strength, durability, and corrosion resistance. Second, energy storage: vanadium redox flow batteries (VRFBs) are increasingly deployed for large-scale, long-duration grid storage.

Global vanadium supply is dominated by Russia and China, which together account for more than 75% of worldwide production. This concentration creates supply-chain risk for Western economies, increasing the strategic value of high-grade vanadium assets in stable jurisdictions.

Surface Sampling Results from Tissaf Property

The surface sampling program was conducted on the Tissaf property, with samples collected directly from mineralized zones. Sample weights ranged from approximately 1.32 kg to 3.05 kg.

Seven samples were analyzed, including one reference sample (BARYTIN1) and six primary field samples (PF1 to PF6), indicating significant lead and vanadium concentrations.

Vanadium values are significant, ranging from 3.76% to 5.52%. Lead grades are high in the mineralised surface samples, ranging from 25.26% Pb to 37.69% Pb. The reference sample BARYTIN1 shows negligiblelead content (0.03%).

Further exploration and technical evaluation are required to determine the continuity, extent, and economic significance of the mineralization. No mineral resources or reserves have been defined, and no economic analysis has been started.

Indicative vanadium grades of 4–5% represent a significant premium to global norms and may have meaningful implications for processing efficiency and project economics, subject to further studies.

Polymetallic Advantage: Lead as a Complementary Revenue Stream

Sampling results indicate the presence of lead in surface samples, averaging approximately 32% Pb and associated primarily with vanadinite. Further metallurgical testing is required to confirm recoveries and commercial viability.

Morocco: A Strategic Mining Jurisdiction

Elcora’s research permits are located in the Kingdom of Morocco — a jurisdiction known for its mining tradition, transparent permitting processes, established infrastructure, and proximity to major markets. This stable regulatory environment reduces execution risk and supports investor confidence.

Technical Information

All surface samples were submitted to African Laboratory for Mining and Environment (Afrilab – SGS Certified) in Marrakech, Morocco.

All samples were analyzed for silver, Lead, Vanadium, copper, iron, zinc, tin, molybdenum and other elements using Aqua regia digestion followed by atomic absorption spectroscopy (“AAS”). No QA/QC samples were included in this sampling program.

Qualified Person

The scientific and technical information in this release has been reviewed and approved by Merouane Rachidi, Ph.D., P.Geo., an independent Qualified Person in compliance with National Instrument 43-101.

Outlook

Elcora remains committed to disciplined technical validation, responsible development, and transparent communication with shareholders. Updates will be provided as exploration and metallurgical work progresses.

Website: www.elcoracorp.com Investor Contact: Troy Grant, Director, President & CEO | T: +1 902 802-8847

About Elcora Advanced Materials Corp.

Founded in 2011, Elcora is structured as a vertically integrated battery materials company. It processes, refines, and produces battery-related minerals and metals using scalable purification processes.

Downstream-Driven Strategy

Elcora applies a downstream-first strategy, focusing on value creation beyond extraction. The company targets processing, metallurgy, and end-use applications, reducing commodity exposure and aligning with high-value markets such as specialty alloys and energy storage.

Cautionary Statement

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. No regulatory authority has approved or disapproved the information contained herein.

This release contains forward-looking statements involving risks and uncertainties. Actual results may differ materially due to various factors. Investors are advised to refer to official filings available at www.sedarplus.ca.

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