Core Insights - Electra Battery Materials Corporation reported its financial results for Q2 2025, highlighting ongoing efforts to enhance its position in North American battery materials production [1][4]. Activities from the Quarter - The company initiated early works for the cobalt refinery construction and began metallurgical testing of domestic cobalt feedstock from Ontario and Idaho [2][7]. - A feasibility level Class 3 Engineering Study for a new battery recycling facility was completed, which will be integrated with the cobalt refinery [2][7]. - Electra's cash position at the end of Q2 2025 was C$3 million, and it received a temporary waiver to reduce the minimum liquidity balance to US$1 million [5]. Strategic Focus - The company aims to align its capital structure with long-term strategic goals, focusing on critical infrastructure for North American battery materials [4]. - Electra's CEO emphasized the importance of securing domestic supply chains and reducing reliance on foreign sources of critical minerals [6]. - The company is advancing its battery recycling platform and diversifying its feedstock supply with ethical, domestic sources [6][7]. Joint Ventures and Partnerships - Progress was made on the Aki Battery Recycling joint venture with Three Fires Group, which aims to establish Canada's first Indigenous-led lithium-ion battery recycling initiative [7]. Company Overview - Electra is focused on developing North America's only cobalt sulfate refinery and aims to create a closed-loop battery materials supply chain [8].

TORONTO, July 31, 2025 (GLOBE NEWSWIRE) -- Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) ("Electra" or the "Company") announces the start of metallurgical testing on cobalt feedstock from two strategic North American sources: the historic Cobalt Camp in Ontario and home to Electra's refinery, and the Company's Iron Creek cobalt and copper project in Idaho. The objective of this initiative is to strengthen and diversify Electra's cobalt refinery feedstock pipeline by integrating domestic ...

Core Points - Electra Battery Materials Corporation held its 2025 annual general and special meeting of shareholders on June 24, 2025, in Toronto [1] - A total of 5,222,899 common shares, representing 29% of the issued and outstanding shares, were voted at the meeting, with shareholders approving all items of business [2] - All five director nominees were elected with significant support, with votes for ranging from 96.34% to 97.43% [3] Company Updates - The 2022 Amended and Restated Long-Term Incentive Plan (LTIP) was approved, increasing the number of Options from 1,429,961 to 2,500,000, PSUs from 100,000 to 125,000, and DSUs from 175,000 to 400,000, while RSUs remain at 125,000 [4] - The maximum number of common shares reserved for issuance under the LTIP has been revised from 1,829,961 to 3,150,000 [4] - The LTIP is conditionally approved by the TSX Venture Exchange and is subject to final acceptance [5] Industry Position - Electra is positioned as a leader in advancing North America's critical minerals supply chain for lithium-ion batteries, focusing on developing the only cobalt sulfate refinery in North America [6] - The company's strategy includes onshoring critical minerals refining, nickel refining, and battery recycling, with growth projects in black mass recycling and cobalt production opportunities in Quebec [6]

Core Viewpoint - Electra Battery Materials Corporation is launching an early works program at its cobalt refinery to prepare for full-scale construction, emphasizing its commitment to onshoring critical minerals processing in North America [1][2][4]. Group 1: Early Works Program - The early works program includes targeted site-level activities with a budget of approximately C$750,000, focusing on advancing the solvent extraction facility [2][3]. - Key activities will involve relocating and installing SX processing equipment, pouring concrete bases for SX tanks, and completing structural roofing work on the SX building [3][4]. - This initiative follows a previous C$200,000 investment into site infrastructure, enhancing overall construction readiness [3]. Group 2: Funding and Support - The early works program is partially funded by a US$20 million award from the U.S. Department of Defense under the Defense Production Act, highlighting the strategic importance of the refinery [4][7]. - The project has also received support from Canada's Strategic Innovation Fund, indicating strong government backing [4][7]. Group 3: Strategic Importance - Electra's refinery is positioned as North America's only battery-grade cobalt sulfate production facility, aiming to redefine critical minerals refining with low-carbon production pathways [6][8]. - The company is actively working to finalize the remaining financing needed to bring the refinery into full commercial operation, with foundational funding already secured [7].

Core Insights - Electra Battery Materials Corporation and the Three Fires Group have made significant progress on the Aki Battery Recycling joint venture, marking the first Indigenous-led lithium-ion battery recycling initiative in Canada [1][2] - The Aki venture aims to create a low-emission, circular solution for battery waste management, enhancing domestic supply chains and reducing reliance on offshore processing [1][5] Joint Venture Overview - The Aki Battery Recycling joint venture was launched in 2024, focusing on establishing a First Nations-led lithium-ion battery recycling company [2] - Aki will process end-of-life lithium-ion batteries and manufacturing scrap in a state-of-the-art facility, producing high-grade copper, aluminum, and steel products [2][3] Black Mass Production - The pre-processing facility will generate a high-value intermediate product known as black mass, which contains critical minerals such as lithium, nickel, cobalt, manganese, and graphite [3][12] - Black mass will be processed at Electra's hydrometallurgical refinery, facilitating a localized closed-loop supply chain for battery manufacturers [3][12] Leadership and Expertise - Reggie George has been appointed President of Aki, bringing over a decade of experience in project management and capital raising [4] - Andre Marais has been appointed Director of Strategy & Corporate Development, with more than 15 years of experience in technical and commercial roles [4] Indigenous Economic Participation - Aki Battery Recycling emphasizes Indigenous economic participation in the battery supply chain, aiming to create long-term benefits for First Nations communities [5][6] - The venture aligns with traditional values of stewardship and responsibility for the land, promoting a regenerative model of economic growth [7] Facility and Operations - The proposed facility will recycle enough lithium-ion battery scrap to supply up to 100,000 new electric vehicles annually [9] - Aki is evaluating prospective sites for the facility, focusing on locations near lithium-ion battery manufacturers and First Nations lands [8][10] Funding and Feasibility - Aki is engaged in discussions with government partners to secure funding for a bankable feasibility study on the pre-processing facility [11] - The project aligns with Canadian funding streams that prioritize clean technology and Indigenous-led infrastructure [11] Environmental Impact - The integration of Aki's black mass production with Electra's refining process aims to create one of the lowest carbon footprint recycling supply chains globally [12][13] - The venture addresses a critical supply chain gap in Ontario, which currently lacks battery recycling capabilities despite projected annual battery scrap generation of up to 30,000 tonnes by 2030 [10] Market Positioning - Aki will operate predominantly on a tolling fee basis through long-term contracts, ensuring stable returns independent of commodity prices [13][14] - The venture aims to strengthen Canada's capacity to retain and reuse critical minerals, supporting domestic industrial growth and reducing carbon emissions related to material transportation [14]

Core Viewpoint - Electra Battery Materials Corporation has completed a feasibility level Class 3 Engineering Study for a modular battery recycling facility, which will enhance North America's battery materials supply chain and energy security [1][4]. Facility and Process - The new facility will recover lithium, nickel, cobalt, manganese, and graphite from lithium-ion battery manufacturing scrap and end-of-life batteries using a proprietary hydrometallurgical process validated through a year-long pilot program [2][5]. - The next phase will involve operating the recycling process under continuous conditions to simulate commercial-scale throughput, funded in part by Natural Resources Canada [3]. Strategic Integration - The cobalt recovered will directly feed into Electra's adjacent cobalt sulfate refinery, which is under advanced construction, thereby creating a closed-loop supply chain for battery materials [4][5]. - Electra's partnership with Aki Battery Recycling ensures a reliable supply of black mass feedstock, supporting both near-term and long-term commercial ambitions [6][13]. Collaboration and Market Engagement - Electra plans to present the engineering study results to downstream partners, including battery manufacturers and OEMs, to determine the optimal scale and timing of the facility [7]. - The study was completed in partnership with Green Li-ion, leading to proprietary improvements that enhance Electra's competitive position in the recycling value chain [8]. National Security and Strategic Minerals - Electra supports North American energy independence amid global competition, particularly against China's dominance in critical mineral processing [9][10]. - The integrated black mass refining program aligns with strategic priorities in Canada and the U.S., emphasizing the importance of cobalt in various applications, including electric vehicles and military-grade batteries [10][11]. Economic and Community Impact - The collaboration with Aki Battery Recycling not only secures a sustainable supply of raw materials but also provides economic benefits to Indigenous communities [6][13][14]. - Electra is committed to building a resilient and inclusive battery materials supply chain in North America, aligning innovation with sustainability and Indigenous economic development [7][14].

Core Insights - Electra Battery Materials Corporation commends the Ontario government's C$500 million Critical Minerals Processing Fund, which aims to build a domestic supply chain for clean energy technologies [1] - The fund is expected to enhance local industry capabilities and support the growth of electric vehicle and battery manufacturing in Ontario [2] - Electra's CEO highlighted the importance of a North America-first approach to secure critical mineral supply chains amid global competition, particularly against China's dominance [6] Group 1: Government Initiatives - The C$500 million fund represents a significant investment in critical mineral processing, aligning with Electra's mission to create a sustainable battery materials supply chain [1][2] - The fund is anticipated to generate economic opportunities in Northern Ontario communities, supporting clean energy and electric vehicle manufacturing [2] Group 2: Company Strategy and Positioning - Electra is focused on developing North America's only cobalt sulfate refinery and aims to onshore critical minerals refining to reduce foreign reliance [7] - The company is also exploring nickel refining and battery recycling, with projects including black mass recycling and potential cobalt production in Quebec [7] Group 3: Industry Engagement - At the 2025 SelectUSA Investment Summit, Electra's CEO engaged with key stakeholders, emphasizing the urgency of reducing foreign dependence on critical minerals [4] - The company looks forward to collaborating with newly appointed federal cabinet ministers to advance clean energy and critical minerals priorities [5]

Core Insights - Electra Battery Materials Corporation commends the Ontario government's C$500 million Critical Minerals Processing Fund, which aims to build a domestic supply chain for clean energy technologies [1][2] - The fund is expected to enhance local industry capabilities and create economic opportunities in Northern Ontario, aligning with Electra's mission to develop a sustainable North American battery materials supply chain [2] Industry Developments - The prioritization of critical mineral processing in Ontario will accelerate strategic mineral processing projects that support the electric vehicle and battery manufacturing ecosystem [2] - At the 2025 SelectUSA Investment Summit, Electra's CEO engaged with key stakeholders, highlighting the urgency to reduce foreign dependence on critical minerals [4] Company Strategy - Electra is focused on developing North America's only cobalt sulfate refinery and aims to onshore critical minerals refining to reduce reliance on foreign supply chains [7] - The company is also exploring opportunities for nickel refining and battery recycling, including integrating black mass recycling at its existing refining complex [7] Leadership and Collaboration - Electra expresses support for newly appointed federal cabinet ministers, emphasizing the importance of their leadership in advancing clean energy and critical minerals priorities [5] - The company is committed to collaborating with all levels of government to support industrial innovation and energy security [5][6]

ELECTRA BATTERY MATERIALS CORPORATION Exhibit 99.1 CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE MONTHS ENDED MARCH 31, 2025 AND 2024 (UNAUDITED) (EXPRESSED IN THOUSANDS OF CANADIAN DOLLARS) NOTICE OF NO AUDITOR REVIEW OF CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS Under National Instrument 51-102, Part 4, subsection 4.3(3)(a), if an auditor has not performed a review of the condensed interim consolidated financial statements, they must be accompanied by a notice indicating that ...

Core Viewpoint - Electra Battery Materials Corporation is making significant progress in establishing a North American supply chain for critical minerals, particularly focusing on cobalt sulfate refining and battery materials recycling to support the clean energy transition [3][4]. Financial Highlights - The company reported a cash position of C$3.2 million at the end of the first quarter of 2025 [12]. - Electra has secured up to US$54 million in non-dilutive funding, including US$34 million in government support and a US$20 million strategic investment proposal [4]. Operational Developments - The current priority is the recommissioning and expansion of the cobalt sulfate refinery in Temiskaming Shores, Ontario, requiring approximately US$60 million to complete [3]. - Electra has established partnerships with Glencore and Eurasian Resources Group (ERG) for cobalt feed sourcing and has a long-term offtake agreement with LG Energy Solution [5]. Recycling Initiatives - The company operated a year-long plant-scale recycling program in 2023, successfully recovering critical metals needed for lithium-ion batteries [6]. - An engineering study for a new battery recycling refinery adjacent to the cobalt refinery commenced in January 2025, building on previous technology and expertise [8]. Strategic Partnerships and Exploration - Electra signed a Memorandum of Understanding (MOU) with Nord Precious Metals to process cobalt-bearing silver concentrates [7]. - The company is exploring its CAS Property in the Idaho Cobalt Belt, highlighting high-grade gold values that reinforce its critical minerals strategy [10][11]. Leadership Changes - In early 2025, Electra strengthened its leadership team by appointing Marty Rendall as CFO and Alden Greenhouse to the Board of Directors [7].