Elcora Awarded Grant to Develop Supercapacitors

Halifax, May 28, 2019 - Elcora Advanced Materials Corp. (TSXV: ERA) (FSE: ELM) (OTC: ECORF) (the "Company" or "Elcora") is pleased to announce that it has been awarded an NSERC-ENGAGE grant with Associate Professor Dr. Heather Andreas at Dalhousie University.

The project will focus on studying Elcora's high-quality graphene as an electrode material for supercapacitors. Dr. Andreas has worked on carbon-based supercapacitors (SCs) for more than 14 years. Dr. Andreas has expertise in:

• Evaluating supercapacitor materials
• Graphene
• Understanding charge movement/redistribution
• Surface functional groups
• Carbon reactivity during charge/discharge
• The effect of impurities
• Modifying carbon materials to achieve desired supercapacitor performance

The super capacitor market is expected to reach 2.18 Billion USD by 2022 at a CAGR of 20.7 % between 2016 and 2022 (https://www.marketwatch.com/press-release/supercapacitor-market-worth-218-billion-usd-by-2022-2016-11-28). Factors such as high storage capabilities, need of power conservation, high performance supercapacitors for consumer and automotive applications, and additional capabilities such as moisture resistant, light weight and low equivalent series resistance are the key drivers for the supercapacitor market (https://www.marketsandmarkets.com/PressReleases/supercapacitor.asp).

Elcora Advanced Materials Corp. has identified supercapacitors (SCs) as an important future application for graphite materials. Supercapacitors are energy storage systems (like batteries) that are typically used in applications where an almost instantaneous response is required (e.g. camera flashes, air-bag deployment, defibrillators AED's and airplane emergency chutes). In SCs, the charge is stored on a carbon electrode, meaning SC performance is incredibly sensitive to the carbon's morphology, chemistry, reactivity/stability and impurities. The common misconception is that carbon is a simple material and all carbons behave similarly - in fact, carbon is incredibly complex and subtle changes in the pore size, structure, degree of graphitization, surface area, chemical environment, etc. can strongly impact carbon performance. To understand graphene's SC applicability requires knowledge of all these parameters and vitally how these parameters impact the performance. Dr. Andreas is ideally suited to study and optimize Elcora's graphite-based products for supercapacitor applications.

According to Troy Grant, Chief Executive Officer, "This announcement is great news for Elcora. The funding allows Elcora to collaborate with one of the worlds top researchers in how to understand and optimize graphene/graphite for supercapacitor applications. We expect to demonstrate that Elcora's graphene and graphite-based products are ideally suited for supercapacitor applications. This research may help Elcora secure supply agreements for it's high-quality graphene and graphite-based products."

About Elcora Advanced Materials Corp.

Elcora was founded in 2011 and has been structured to become a vertically integrated graphite & graphene company. As part of the vertical integration strategy Elcora is securing high-grade graphite and graphene precursor graphite from operations in Sri Lanka and other countries. This combination means that 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.

Klaus Leiders M.Sc., B Sc., Elcora's CMO acted as QP and has prepared and approves of the scientific and technical disclosure in this news release.

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

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/45087