Mr. Kurt Budge reports

SWEDISH GOVERMENT HOLDS DECISION ON NORRA KARR EXPLOITATION CONCESSION; DIRECTORS EXERCISE OPTIONS INJECTING NEW CAPITAL; INVESTOR RELATIONS ENGAGEMENT

Leading Edge Materials Corp. has provided a status update on Leading Edge Materials Corp.'s 100-per-cent-owned Swedish subsidiary Greenna Mineral AB's (GMAB) application for an exploitation concession for Norra Karr. The company has been in formal communication with the government ministry responsible for handling the application. The Swedish Mining Inspectorate (Bergsstaten) has recommended approval of its exploitation concession (bearbetningskoncession) application for Norra Karr. This follows the endorsements provided by both the Jonkoping and Ostergotland county administrative boards (CABs) in December of last year.

The company also announces that the directors of Leading Edge Materials have recently exercised options to acquire shares in the company, contributing approximately $788,000 in new capital. The option exercises increase the directors' shareholding in the company and align with the company's continued advancement of the Norra Karr project.

Finally, the company is pleased to announce that it has engaged Boofel Enterprises Ltd. to provide investor relations and communications consultancy services to support the company's development, market credibility, communications strategy, investor engagement and capital markets positioning.

In consideration for the services, the company will pay Boofel 3,600 British pounds per calendar month (approximately $6,700) for an initial fixed term of six months. During the contractual period, either party may terminate the agreement by giving one month of written notice. Boofel and the company are arm's-length parties and have no other agreement other than the investor relations consultancy agreement.

Kurt Budge, chief executive officer, commented: "We have opened formal communications with the government ministry overseeing our application; it is encouraging to note that every government agency involved in the permitting process to date has recommended approval of our application for an exploitation concession for Norra Karr.

"An exploitation concession would represent a transformative milestone for the company, giving both investors and customers the confidence they need to move forward alongside us. The security it provides over the Norra Karr deposit will enable us to accelerate our technical, environmental and social studies and to advance through the remaining permitting stages toward eventual construction and production of critically important heavy rare earth elements.

"Looking towards this future, the directors of Leading Edge Materials have exercised options in recent weeks, injecting $788,000 into the company."

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), the 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).

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