Elcora Resources Announces the Results of the First Phase of Test Work to create Graphene Optimized Graphite Crystals

HALIFAX, NOVA SCOTIA / TNW-ACCESSWIRE / October 23, 2014 / Troy Grant, President and CEO of Elcora Resources Corp. (TSXV:ERA/Frankfurt:ELM), (the "Company" or "Elcora"), is pleased to release the results of the first stage testing of the Sakura - Ragedara graphite's suitability for the production of high expansion ratio expandable graphite. The October 14, 2014 report titled "Expandable Graphite Tests - Step I: Size Class Reduction I" by Dr. Ian M. Flint reports on the results of tests conducted by SGS Canada Inc., Lakefield, Ontario.

This first stage of testing was for the purpose of characterizing the size reduction of the graphite and to produce samples for further processing. These successful tests are the first stage of a four step process to develop a circuit that will minimize processing damage to the graphite crystal morphology while optimizing flake expandability and ultimately effective conversion to graphene. The highlights of this report are the following:

• -Samples have successfully been produced to allow progression to secondary size reduction tests scheduled to be conducted Oct 23 and 24 2014.

  -An important first step towards the eventual target of producing pristine graphite crystals for the next stage of size reduction has been achieved.

  -The high rate of flotation indicates that crowded froth flotation could be an effective mechanism of producing high grades early in the circuit.

  -Successful flotation without reagents at both high grade and recoveries indicates that a scalping circuit could be used resulting in less circuit complexity and lower capital costs.

  The head grade of the Ragedara graphite was determined to be in the range of 94.4 ? 2.6% to 97.9 ? 2.6% which falls within the anticipated range and confirms earlier tests performed by SGS-Lakefield on Sakura Ragedara graphite.

Troy Grant, President and CEO of Elcora stated "The accelerated pace at which we are streamlining the proposed production process for Ragedara, and lab testing the ability to produce graphene and other high-value materials from the Ragedera graphite is highly exciting for the Company and shareholders, and these milestones should create demonstrable future value for the shareholders. "

A second stage ("Step II") of advanced testing of the size reduction program will be performed on the material prepared by SGS Canada Inc. as part of this next round of tests. These Step II tests scheduled for later in October, 2014 will further reduce the size of the particles to that of the individual graphite crystals by liberating the individual graphite crystals from other graphite and from the silica and other impurities.

It is anticipated that the final processed graphite crystals will be liberated but not either bent or folded, thus, will give a true particle size distribution. The results of this work will be used to define the first of the stages in a process to create graphene optimized graphite, and will be incorporated in the design work for and the economic evaluation of a possible future processing mill.

Elcora's Vice-President, Processing and Refining, Dr. Ian Flint, P.Eng, is the Qualified Person as defined under NI 43-101 who has reviewed and is responsible for the technical information presented in this news release.

For further information please visit the company's website at http://www.elcoraresources.com

For further information please contact: Troy Grant, Director, President and CEO, Elcora Resources Corp., T: 902 802-8847 F: 902 446-2001.

CAUTIONARY STATEMENT:

The TSX Venture Exchange does not accept 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.

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