Mr. Eric Krafft reports

LEADING EDGE NOTES ASSAYS AT 30% NICKEL AND 4.7% COBALT AT BIHOR SUD

Leading Edge Materials Corp. has received positive assay results from initial exploration trenches completed to assess potential of mineralization extension from the known galleries, and from initial samples taken from galleries 4 and 7.

Eric Krafft, chief executive officer of the company, states: "These initial exploration results from Bihor Sud highlight the scale and high-grade potential of the Bihor Sud exploration licence. Access to galleries 4 and 7 was delayed due to high radon gas levels, and required additional ventilation to be installed to enable safe access for our geologists. While ventilation was being installed, we completed surface trench assays which potentially indicate a Pb-Zn-Ag structure over one km in length and is supported by the results from gallery G4. Initial results from gallery G7 underline the high-grade Co-Ni potential. While high radon levels have delayed gallery access it is a positive sign as it is associated with the raised uranium grades often related with the higher-grade Ni-Co zones. Channel sampling underground can now begin in earnest."

Surface exploration trenches

Three pairs of exploration trenches were hand dug to 0.5 to two metres depth and 20 to 56 metres in length for a total of 246 m. Trenches S-VL1 and S-VL2 were able to be excavated to partially expose bedrock and provide positive Zn-Pb-Ag grades. These trenches cut to the same fault system, which led to base metal mineralization in G4 and contain Zn-Pb-Cu-Ag in carbonates. Mineralization in these trenches is both structurally and lithologically controlled.

Trenches S1-D and S2-D, which are close to gallery G1, were excavated largely in argillic alteration with occasional specks of copper oxide. Of the 18 samples assayed, the only mineralized one yielded 0.14 per cent Cu (no other anomalous elements). G1 was developed in the 1970s as part of regional uranium exploration but furnished "only" base metal mineralization (copper) associated with (semi-massive) pyrite. No mineralization was found in 16 samples from trenches S1-VV and S2-VV, except for minor barite. S2-VV encountered thick scree and did not reach bedrock for the major part.

Initial underground samples

Samples were collected from in situ mineralization on the gallery walls during initial surveying. Results are similar to those obtained from waste dump material and prove the presence of extensive mineralization, which can be accessed underground. The samples reported from G7 in the next attached table are spaced 100 to 200 m and attest a significant strike extent of the mineralization, to be mapped and channel-sampled this Summer.

Now that ventilation has been successful installed in G4, additional ventilation will be added to G7. The company can now engage in its planned underground channel sampling program and follow on underground drilling program.

Qualified person

Martin S. Oczlon, PhDGeol, CEngMIMMM, a consultant to Leading Edge Material and qualified person, as defined in NI 43-101, has reviewed and verified the technical content in this press release.

About Leading Edge Materials Corp.

Leading Edge Materials is a Canadian public company focused on developing a portfolio of critical raw material projects located in the European Union. Critical raw materials are determined as such by the European Union based on their economic importance and supply risk. They are directly linked to high growth technologies such as batteries for electromobility and energy storage and permanent magnets for electric motors and wind power that underpin the clean energy transition towards climate neutrality. The portfolio of projects includes the 100% owned Woxna Graphite mine (Sweden), Norra Karr HREE project (Sweden) and the 51% owned Bihor Sud Nickel Cobalt exploration alliance (Romania).

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