Initial engineering evaluates 20,000 tonnes of annual nickel production as the first

phase of a broader critical minerals processing facility

TORONTO, Sept. 16, 2026 (GLOBE NEWSWIRE) -- Electra Battery Materials Corporation (NASDAQ:ELBM, TSXV:ELBM) ("Electra" or the "Company"), a leader in North American critical minerals processing, today announced preliminary engineering results for the initial phase of a proposed two-phase nickel refinery to process mine-derived feedstock and recycled battery black mass into nickel metal and battery-grade nickel sulfate. The proposed facility would strengthen North American supply chains by supplying nickel for industrial, military and battery applications, helping reduce reliance on foreign processing.

The preliminary engineering study (FEL-1) evaluates the first-phase conversion of mine-derived feedstock into battery-grade nickel sulfate at a production capacity of approximately 20,000 tonnes per year of contained nickel. Preliminary process modelling indicates nickel and cobalt recoveries of 97% or higher, with recovered cobalt hydroxide providing a potential feedstock for Electra’s cobalt refinery.