Asian Battery Manufacturers Testing Elcora's Graphite Anode Powder

"The company is focusing its attention on Asia because that's where most of the world's Lithium-ion battery manufacturing takes place. Asia is too big to ignore, and will open up several opportunities for Elcora", states Troy Grant, CEO of Elcora.

To date, Elcora has sent over 14 kgs of its EL-I-C6 graphite anode powder to battery manufacturers to test its electrochemical performance. The purpose of the testing is to demonstrate that Elcora's EL-I-C6 graphite anode powder meets Li-ion battery manufacturing standards. After further testing, Elcora hopes to enter into negotiations for long-term supply agreements.

Furthermore, Elcora has hired two employees to strengthen its activities in Asia and better serve prospective customers. Both employees have intimate knowledge of the local culture and language and have existing relationships with major Li-ion battery manufacturers. They will help promote Elcora's presence in Asia's growing Li-ion battery manufacturing space.

Their combined work experience includes:

• Specialist in Li-ion battery manufacturing with deep understanding of relevant battery materials
• Well-connected in Electric Vehicle ("EV") battery industry in China
• Well-connected in electric mobility, including EV and battery manufacturing in China and Internationally.
• Understanding of Chinese battery materials manufacturers quality and price requirements
• Led and executed domestic and cross border M&A and capital markets transactions
• Relationships with key Chinese investors (VC and PE Funds)
• Executed transactions involving state owned enterprises (SOE) and private firms from a range of industries, including automotive, machinery and chemical
• Senior contacts with Chinese central and provincial governments

About Elcora Advanced Materials

Elcora was founded in 2011 and has been structured to become a vertically integrated graphite & graphene company. Elcora mines, processes, and refines graphite. That graphite is converted to graphene or graphite powder for Li-ion batteries. As part of the vertical integration strategy, Elcora has secured high-grade graphite from its interest in the operation of the Ragedara mine in Sri Lanka, which is already in production. Elcora has the tools and resources for graphite and graphene vertical integration.

For further information please visit the company's website at http://www.elcoracorp.com. Continue to watch for updates on the development work by tuning into https://youtu.be/5shbT68Trno.

For further information please contact: Troy Grant, Director, President and CEO, Elcora Resources Corp., T: +1 902 802-8847 F: +1 902 446-2001.

CAUTIONARY STATEMENT:

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.