Mr. Eric Krafft reports

LEADING EDGE MATERIALS ANNOUNCES UP TO C$2,500,000 NON-BROKERED PRIVATE PLACEMENT

Leading Edge Materials Corp. intends to complete a non-brokered private placement of up to 21,739,130 units at a price of 11.5 cents per unit for aggregate gross proceeds of up to $2.5-million.

Leading Edge Materials intends to use net proceeds for the company's projects, located in Sweden and Romania, and for general working capital and corporate purposes.

Each unit will consist of one common share in the capital of the company and one common share purchase warrant. Each warrant will entitle the holder to purchase one common share at a price of 22.5 cents per warrant share until the date which is four years from the closing date of the private placement.

The company expects certain insiders of the company to participate in the private placement. Any participation by insiders in the private placement constitutes a related party transaction as defined under Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. However, the company expects to rely on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 based on the fact that neither the fair market value of the units subscribed for by the insiders, nor the consideration for the units paid by such insiders, would exceed 25 per cent of the company's market capitalization as at the date of this news release.

The Private Placement is directed toward Canadian, Nordic and other international investors. All securities issued under the private placement, including securities issuable on exercise of the warrants, will be delivered from Canada and are subject to a hold period expiring four months and one day from the closing date. The minimum investment for European economic area (EEA) investors in the private placement will be an amount equivalent to at least 100,000 euros.

The private placement is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange.

A finders' fees may be payable on a portion of the private placement.

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 toward climate neutrality. The portfolio of projects includes the 100-per-cent-owned Woxna graphite mine (Sweden), the Norra Karr heavy rare earth element project (Sweden) and the 51-per-cent-owned Bihor Sud nickel-cobalt exploration alliance (Romania).

We seek Safe Harbor.