Mr. Geoff Callow reports

ECORA RESOURCES PLC ANNOUNCES PHALABORWA RARE EARTHS PROJECT UPDATE

Ecora Resources PLC has noted the press release issued today by Rainbow Rare Earths Ltd. announcing that the mineral resource estimate at Phalaborwa has been updated to include yttrium, one of the heavy rare-earth elements (REE) that has been subject to Chinese export controls since April, 2025.

Rainbow currently only includes value for neodymium, praseodymium, dysprosium and terbium in its economic models, but will look to update this to include the ancillary metals for Phalaborwa's definitive feasibility study to reflect the strong and growing market demand for the full range of economic REE in the project's basket.

Ecora holds a 0.85-per-cent gross revenue royalty on the Phalaborwa project.