Early Warning Report -- Correction of Share Ownership and Percentage of Securities

  This press release is being disseminated as required by National Instrument 62-103, The Early Warning System and Take over Bid and Insider Reporting Issues regarding the disposition and acquisition of securities of Elcora Advanced Materials Corp. This news release is being issued to correct an incorrectly calculated share ownership position reported on April 10, 2026.   HALIFAX, NOVA SCOTIA - TheNewswire – May 22, 2026 - ELCORA ADVANCED MATERIALS CORP. (TSX.V: ERA | Frankfurt: ELM0 | OTCQB: ECORF), (the "Company" or "Elcora"), On April 10, 2026, the Company announced that Skyline Resources Trading FZE  (the “Subscriber"), acquired a total of 6,242,005 units (“Units”) of the Company, at a price of $0.12 per Unit, in connection with a private placement (the “Offering”).  Each Unit consists of one common share and one share purchase warrant (a “Warrant”). Each Warrant entitles the holder to acquire one additional common share of the Company at a price of $0.16 for a period of 24 months from the date of issuance.   The previous news release and early warning report inadvertently omitted the inclusion of 88,000 restricted share units (“RSUs”) of the Company in the Subscriber's prior holdings.     The Subscriber has acquired 6,242,005 Units under the Offering. Prior to the Offering, the Subscriber held no common shares or warrants of the Company, and held 88,000 RSUs of the Company, representing 0.52% of the then-issued and outstanding common shares.

Following the issuance of the Units, the Subscriber beneficially owns and controls 6,242,005 common shares, 6,242,005 Warrants, and 88,000 RSUs, representing approximately 14.85% of the Company’s issued and outstanding common shares on an undiluted basis and 18.76% (not 18.63% as previously reported) on a partially diluted basis, assuming exercise of the Warrants and conversion of the RSUs.   The Subscriber acquired the Units for investment purposes. The Subscriber may, depending on market conditions and other relevant factors, increase or decrease its beneficial ownership, control, direction, or economic exposure to securities of the Company from time to time through market transactions, private agreements, treasury issuances, exercise of convertible securities or otherwise. A copy of the corrected early warning report filed by the Subscriber may be obtained by contacting the Company at 604-687-2038.   About Elcora Advanced Materials Corp. Elcora was founded in 2011 and has been structured to become a vertically integrated battery material company.  Elcora can process, refine, and produce battery related minerals and metals.

As part of the vertical integration strategy Elcora has developed a cost-effective process to purify high-quality battery metals and minerals that are commercially scalable. This combination means that Elcora has the tools and resources for vertical integration of the battery minerals and metals industry. For further information please visit the company's website at: http://www.elcoracorp.com   For further information please contact: Troy Grant, Director, President & CEO, Elcora Advanced Materials Corp., T: +1 902 802-8847 CAUTIONARY STATEMENT: Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release contains certain forward-looking statements within the meaning of applicable securities laws, including statements regarding the exercise of the Warrants and the Subscriber’s intentions with respect to its investment in the Company. Forward-looking statements are based on a number of assumptions and are subject to various risks and uncertainties, including those described in the Company’s public disclosure available under its profile on SEDAR+, which could cause actual results to differ materially from those contemplated by such statements.

Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statements, except as required by applicable law.    Copyright (c) 2026 TheNewswire - All rights reserved.