Elcora Provides Corporate Update

About this update from Elcora Advanced Materials Corp.

Elcora Provides Corporate UpdateHALIFAX, NOVA SCOTIA / ACCESSWIRE / January 3, 2017 / ELCORA ADVANCED MATERIALS CORP. (TSXV: ERA) (FSE: ELM) (OTCQB: ECORF), (the "Company" or "Elcora") provides the following corporate update: The management at Elcora would like to wish all its shareholders and followers a happy and successful 2017. As we enter 2017, Management would like to provide a detailed update on the Company's operations. Since its inception four years ago, Elcora has focused on the processing side of the business as opposed to simply extracting materials from a mine. In the graphite industry, it is very important to control the source in order to ensure quality and proper volume. However, the majority of the profits lie in the downstream technological applications of graphite. Given this nature of the graphite industry, Elcora has pursued a vertically integrated strategy to capture profits in all aspects of the value chain and deliver outstanding returns to shareholders. The following is an update on each aspect of the company's operations. Sakura Joint Venture (Sri Lanka mining and processing joint venture) The first element in Elcora's vertically integrated chain is the supply of graphite. In June of 2014, the Company concluded a deal with the Sakura company, who owns the recently reopened Ragedara Mine. Through this deal, Elcora became a 40 percent shareholder and operator of the mine. Additionally, Elcora recently hired an experienced Mining Director from Germany, with the objectives of increasing output and productivity over the next few years. While Ragedara's historical peak production was 18,000 metric tons per year, work is being performed in order to bring production back to 4,800 metric tons per year. The geological data indicates that the top 100m of the approximately 300m ridge has been mined out but that the zone below this level is conductive and the vein structures continue at depth. A neighboring government run graphite mine is currently extracting at 600m below surface level. The Company has been conducting a diamond drill program to identify minable zones and develop the mine workings to access the deeper areas, in line with the short-term goal of increasing the production to 4,800 tons per year. A graphite processing plant has also been built next to the mine and is currently in production. In February of 2016, Thyssenkrupp sign...

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