Drilling Intersects High Grade Cobalt

TORONTO - Electra Battery Materials Corporation reported that drilling at its cobalt-copper mineral project in Idaho has successfully extended mineralization by an additional 180 meters to the east of the current deposit as well as down dip from the eastern edge of the resource zone.

"As expected, drill results on the eastern side of the deposit confirm that the mineralized system has considerable growth potential along strike and at depth" said Dan Pace, Principal Geologist. "Additional drilling to the east of Iron Creek will target zones where the cobalt mineralization may thicken in structural traps. Drilling is also planned for the Ruby zone located 1.5 kilometers to the southeast, where cobalt mineralization can be traced for approximately 300 meters on surface, with 27 surface rock chip samples with assays of up to 0.9%.

At a time of heightened geopolitical risk, America has committed to securing a domestic supply of critical minerals for the green energy transition," said Trent Mell, CEO. "Idaho is arguably the most prospective location in the world to identify new primary sources of cobalt outside the DRC. Electra's ultra low carbon refinery in Canada will create the first domestic supply of battery grade cobalt for EVs later this year and Idaho can become an important part of a continental EV supply chain strategy that is both in the United States' national interest and good for the environment."