Announcement • Apr 18

Elcora Advanced Materials Corp Reports High-Grade Vanadium-Lead Mineralisation from Surface Samples in Morocco

Elcora Advanced Materials Corp. provided 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 grades of approximately 4–5% were 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. Surface sampling program was conducted by Elcora on the Tissaf property (rock samples from one research permit), with samples collected directly from the mineralized zones. Sample weights range from approximately 1.32 kg to 3.05 kg. The analytical results from seven samples collected, including one reference sample (BARYTIN1) and six primary field samples (PF1 to PF6) indicating a significant Lead and Vanadium concentration. 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 negligible lead 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% from surface sampling represent a significant premium to global norms and, subject to further technical studies, may have meaningful implications for processing efficiency and project economics. Higher-grade feedstock may also be relevant to Vanadium Redox Flow Battery (VRFB) applications, where vanadium electrolyte represents a significant component of total system cost. The Company has not yet completed studies demonstrating commercial viability, and any future development remains subject to additional technical, regulatory, and economic evaluation. Sampling and analytical results to date indicate the presence of lead in surface samples, with reported values of approximately 32% Pb, interpreted to be primarily associated with vanadinite. Further metallurgical testing will be required to confirm recoveries, scalability, and commercial applicability. All surface samples from Tissaf property were collected and submitted by Elcora for preparation and assaying 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.

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Elcora Advanced Materials Corp Reports High-Grade Vanadium-Lead Mineralisation from Surface Samples in Morocco

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