Mr. Eric Krafft reports

LEADING EDGE RECEIVES HIGH GRADE COBALT-NICKEL RESULTS FROM SYSTEMATIC GALLERY CHIP SAMPLING, BIHOR SUD PROJECT, ROMANIA

Leading Edge Materials Corp. has received positive assay results for copper/nickel/gold from Gallery 7 and copper/zinc/lead/silver from Gallery 4, systematically surveyed with chip samples mostly of 0.5 kilogram to two kilograms from mineralized zones identified visually on mapping and by hand-held XRF (X-ray fluorescence). Exposed mineralization was sampled at a spacing of approximately one metre along strike to understand the extent of mineralized zones on the gallery walls in preparation of a follow-up channel sampling campaign.

Highlights:

• Systematic sampling confirms in situ high-grade cobalt/nickel/gold and copper/zinc/lead/silver mineralization within plus-150-metre and 350-metre gallery segments in G7 and G4, respectively.
• G7 highlights include 3.5 per cent cobalt, 29.7 per cent nickel and 15.65 grams per tonne gold, with 60 per cent of the samples exceeding 0.44 per cent nickel equivalent;
• G4 highlights include 11.7 per cent copper, 11.7 per cent lead and 18.7 per cent zinc, with almost 50 per cent of the samples exceeding 1 per cent copper equivalent;
• Channel sampling of the mineralized zones will follow in preparation for underground diamond drilling.

Eric Krafft, chief executive officer, stated: "We are very excited by the results from this initial stage of detailed exploration in galleries 4 and 7, which has included detailed mapping and chip sampling. The results highlight the extent and high-grade mineralization potential of the Bihor Sud project. These results clearly justify the move to channel sampling and then underground drilling. Galleries 4 and 7 represent only a small portion of our exploration licence, with multiple historical galleries providing future exploration opportunities."

Cobalt/nickel/gold in Gallery 7

The distribution of mineralized zones is within the 150-metre-long segment of G7, where they have been mapped and sampled to date. Sampling length in G7 was limited by a fall of ground that the company is having cleared and made safe. Observed cobalt/nickel mineralization extends a considerable distance and will add to the overall strike length of the total mineralized G7 segment. The structurally controlled mineralized zones are commonly traced on the gallery walls over few metres to few tens of metres and are on the order of 20 centimetres to 80 centimetres thick but may occur in a stacked manner with barren material in between. Mineralization occurs on the foliation of schists, on the cleavage in schists and on faults. A total of 104 chip samples were collected from G7 (see attached table) and include highlight samples of 15.65 grams per tonne gold, 3.5 per cent cobalt and 29.7 per cent nickel.

Sample preparation and gold assays were performed by ALS Romania; assays for all other elements were performed by ALS Geochemistry in Ireland (Loughrea).

The qualified person has reviewed the quality assurance/quality control data and has no doubt the reported results have been obtained by the laboratory to best industry practice.

Mineralization in G4 is controlled by steeply dipping north-northwest-south-southeast faults, and there is virtually no dissemination with economic grades on the foliation of schists around mineralized faults. The segment in G4, wherein multiple, parallel mineralized structures are exposed, has a strike extent of about 350 metres, and individual mineralized fault sectors can be traced over metres to several tens of metres on the gallery walls. Mapping of the mineralized structures indicates that they only rarely exceed 40 centimetres and are commonly about 10 centimetres to 20 centimetres thick. A total of 76 chip samples were collected from mineralized zones of G4 (see attached table), and include highlight samples of 11.7 per cent copper, 18.7 per cent zinc, 11.7 per cent lead and 649 grams per tonne silver.

Further exploration

Being located up valley, G4 is positioned 50 metres higher than G7. Accordingly, the crosscut driven from G4 toward G7 reaches cobalt/nickel/gold mineralization 50 metres above G7, where a system of side galleries and niches is developed from G4. There is also a crosscut driven from G7 toward the downdip extent of copper/zinc/lead/silver mineralization 50 metres under G4, where a system of side galleries and niches is developed at the elevation level of G7, exposing copper/zinc/lead/silver mineralized structures. Furthermore, cobalt/nickel/gold mineralization was accessible in G7 only to 560 metres from the gallery mouth, where a collapsed zone in mineralization blocked the passage. This is now cleared with the passage secured and ventilated. A preliminary review of G7 beyond the collapsed zone reveals several zones of cobalt/nickel oxides with their typical pink and green colours on the gallery walls, which are currently surveyed. All of the mentioned gallery sectors in cobalt/nickel/gold and copper/zinc/lead/silver mineralization are subject to further systematic chip sampling. Once completed, channel samples will be projected and executed based on the chip sample results, to be followed up by an underground drilling campaign.

Qualified person

The scientific and technical information in this release has been reviewed, verified and approved by Dr. Martin S. Oczlon, PhD (geology), CEngMIMMM, a consultant to Leading Edge Material and qualified person as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects.

The qualified person has reviewed and verified the quality assurance/quality control data, including sample handling, security and analytical procedure, and has no doubt the reported results have been obtained by the laboratory to best industry practices.

Sample preparation and gold assays were performed by ALS Romania; assays for all other elements were performed by ALS Geochemistry in Ireland (Loughrea).

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), Norra Karr HREE (heavy rare earth element) project (Sweden) and the 51-per-cent-owned Bihor Sud nickel/cobalt exploration alliance (Romania).

We seek Safe Harbor.