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  • Elcora Advanced Metals Corp. (ERA) has signed a letter of intent with Gold Lion Resources Inc. to start exploitation on its manganese mining license in Morocco
  • Elcora can leverage on-site infrastructure, facilities and up to 600 tonnes of raw ore ready for processing
  • Gold Lion will acquire a 50 per cent interest in the Property and Elcora will use the proceeds from the transaction to initiate the ore production on the Manganese concession
  • Elcora Advanced Materials Corp. (ERA) is trading steady at $0.05 per share at 9:35 am ET

Elcora Advanced Metals Corp. (ERA) has signed an LOI with Gold Lion Resources to start exploitation on its manganese mining license in Morocco.

The manganese site is a former mine that was in operation for decades and Elcora can leverage on-site infrastructure, facilities and up to 600 tonnes of raw ore ready for processing.

Manganese represents a critical link in the Lithium-ion battery supply chain and is used to produce batteries for EVs and other renewable energy applications such as electricity grid storage batteries.

Gold Lion will acquire a 50 per cent interest in the Property and Elcora will use the proceeds from the transaction to initiate the ore production on the Manganese concession once the Exploitation license has been granted.

Gold Lion will pay $75,000 and issue common shares equal to $250,000 for 25 per cent interest in the property, a cash payment of $175,000.

Elcora Advanced Materials Corp. (ERA) is a graphite and graphene company that mines, processes, and refines graphite and produces both graphene and end graphene applications. The company’s operating segment includes the development of graphite mineral properties and graphene related research and development activities.

Elcora Advanced Materials Corp. (ERA) is trading steady at $0.05 per share at 9:35 am ET.


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