Mr. Marc Lafleche reports

ECORA RESOURCES PLC ANNOUNCES SALE OF DUGBE GOLD ROYALTY FOR UP TO $20M

Ecora Resources PLC has agreed to sell a wholly owned subsidiary, which holds a 2-per-cent net smelter return royalty over the development-stage Dugbe gold project in Liberia, to a subsidiary of Elemental Altus Royalties Corp. for a total consideration of up to $20-million.

The consideration comprises a $16.5-million upfront cash payment and contingent consideration of up to $3.5-million payable as follows:

1. $700,000 upon commencement of project construction;
2. $2.8-million upon commencement of commercial production.

The $3.5-million contingent consideration is payable in full in the event the project is built to a smaller scale than that contemplated in the Dugbe gold project feasibility study (effective date of June 13, 2022) upon the cumulative production of 150,000 ounces of gold.

Ecora acquired the Dugbe royalty in 2012, which had a carrying value of $5.9-million as at Dec. 31, 2024.

The transaction is expected to close in the coming days.

Marc Bishop Lafleche, chief executive officer, commented: "The transaction unlocks value from a development-stage asset in a non-core commodity and will enable us to accelerate the group's deleveraging as well as providing further flexibility to acquire cash-generative royalties within our targeted commodity basket in time. The transaction highlights the substantial value within Ecora's wider royalty portfolio outside the core producing assets."

About Ecora Resources PLC

Ecora is a leading critical-mineral-focused royalty company.

Ecora's vision is to be globally recognized as the royalty company of choice synonymous with commodities that support trends of electrification by continuing to grow and diversify its royalty portfolio in line with the company's strategy. Ecora will achieve this through building a diversified portfolio of scale over high-quality assets that drives low-volatility earnings growth and shareholder returns.

The mining sector has an essential role to play in the energy transition, with commodities such as copper, nickel and cobalt -- key materials for manufacturing batteries and electric vehicles. Copper also plays a critical role in the electricity grids. All these commodities are mined and there are not enough mines in operation today to supply the volume required to achieve the energy transition.

Ecora's strategy is to acquire royalties and streams over low-cost operations and projects with strong management teams in well-established mining jurisdictions. Ecora's portfolio has been reweighted to provide material exposure to this commodity basket and the company has successfully transitioned from a coal-oriented royalty business in 2014 to one that by 2026 will be materially coal-free and comprise over 90 per cent exposure to commodities that support a sustainable future. The fundamental demand outlook for these commodities over the next decade is very strong, which should significantly increase the value of Ecora's royalty portfolio.

Ecora's shares are listed on the London Stock Exchange and the Toronto Stock Exchange (symbol: ECOR) and trade on the OTCQX Best Market (symbol: ECRAF).