Mr. Kurt Budge reports

LEADING EDGE MATERIALS AND ASCENSION EARTH RESOURCES TEAM UP ON HEAVY RARE EARTHS RECOVERY FROM NORRA KARR EUDIALYTE

Leading Edge Materials Corp.'s 100-per-cent-owned Swedish subsidiary Greenna Mineral AB (GMAB) has signed an MoU (memorandum of understanding) with Ascension Earth Resources.

• Strategic collaboration aims to assess innovative recovery methods for heavy rare-earth elements (HREE) from Norra Karr Eudialyte mineralization.
• Leading Edge Materials' 100-per-cent-owned subsidiary, Greenna Mineral AB, and Ascension Earth Resources have entered into a memorandum of understanding.
• Both parties will negotiate in good faith toward a definitive collaboration agreement for a larger-scale pilot project, contingent on successful evaluation project outcomes.

Evaluation project

Under the MoU, GMAB will supply eudialyte samples from the Norra Karr deposit to Ascension, which will conduct comprehensive laboratory analysis and processing testwork using its proprietary technology.

The collaboration aims to assess the technical and commercial feasibility of rare-earth extraction and recovery from the HREE-bearing eudialyte mineralization at Norra Karr.

The Evaluation project will focus on:

• Conducting detailed analysis of eudialyte samples to determine composition, purity and recovery potential;
• Testing leach behaviour and assessing suitability for commercial-scale processing;
• Developing preliminary processing concepts tailored to the Norra Karr mineralization;
• Evaluating the commercial viability of rare earth extraction.

Path to commercial collaboration

Subject to successful outcomes from the evaluation phase, both parties have committed to negotiate in good faith toward a definitive collaboration agreement. This subsequent agreement would govern a larger-scale pilot project.

Kurt Budge, chief executive officer, comments:

"This partnership represents an important step forward in advancing the Norra Karr HREE project.

"By combining our world-class resource with Ascension's innovative processing technology, we aim to unlock new possibilities for sustainable heavy rare-earth production in Europe.

"We already have a PFS flowsheet from 2015 to produce mixed rare-earth oxide but we are enthusiastic about trying new innovative methods, such as the ones being developed by Ascension, to maximize the recovery of heavy rare-earth elements from Norra Karr."

Motoaki Sumi, CEO of Ascension Earth Resources, comments:

"We are excited to collaborate with Leading Edge Materials on an evaluation program focused on heavy rare-earth elements recovery from the Norra Karr eudialyte mineralization.

"Norra Karr is a strategically significant European rare-earth resource with important implications for the development of a resilient European supply chain for critical minerals.

"Through this collaboration, we aim to advance efficient and environmentally responsible approaches to critical mineral recovery, aligned with Ascension's core mission.

"Ascension is a University of Oxford spinout company developing technologies to recover critical minerals from novel resources."

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 lithium-ion batteries and permanent magnets for electric motors, wind turbines and defence applications. The company's portfolio of projects includes the 100-per-cent-owned Woxna graphite mine (Sweden), 100-per-cent-owned Norra Karr heavy rare-earth elements project (Sweden) and the 51-per-cent-owned Bihor Sud nickel cobalt exploration alliance (Romania).

About Ascension Earth Resources Ltd.

Ascension Earth Resources is a United Kingdom-based company developing proprietary technology for rare-earth element analysis and recovery, harnessing geothermal energy to create a secure and sustainable onshore critical mineral supply chain.

We seek Safe Harbor.