Mr. Koby Kushner reports

LIBRA COMMENCES MAIDEN DRILLING PROGRAM AT PENELOPE PROJECT, BRAZIL

Libra Energy Materials Inc. has commenced its maiden auger drilling program at its 100-per-cent-owned Penelope project in Minas Gerais, Brazil. The initial phase will focus on the high-priority Elena and Gaia rare-earth element (REE) targets, where previous sampling returned grades of up to 3,103 ppm (parts per million) total REEs (see company press release dated Feb. 26, 2026).

This low-cost, high-impact drill program is designed to rapidly assess both the scale and depth potential of REE mineralization across the project. Libra views Penelope as a highly prospective opportunity within a region increasingly recognized for its emerging ionic adsorption clay (IAC) and hard-rock REE potential. The company believes the auger program will provide critical early insights into the vertical distribution of REEs within the regolith profile and allow a better understanding of the project's potential value.

Penelope exploration and geology

The Penelope project is situated in the mining-friendly jurisdiction of Minas Gerais, Brazil. The project area hosts multiple NYF-type (niobium-yttrium-fluorine) pegmatites and associated A-type granite beneath a thick, REE-enriched regolith layer.

Surface sampling has already confirmed the presence of high-grade critical minerals. Historic workings and outcrop sampling at the Gaia pegmatite returned an anomalous high-grade niobium (8,780 ppm Nb) and tantalum (10,900 ppm Ta) sample, while rock chip panels from the Elena pegmatites averaged 1,555 ppm and 844 ppm total REEs.

Shallow reconnaissance soil sampling has also been encouraging, with results up to 517 ppm total REEs and 43 ppm Ga at depths of only 80 centimetres. The auger program, designed for depths of five to 20 metres, will test for enrichment at depth, consistent with current IAC-style REE deposits models.

Qualified person

The scientific and technical information in this news release has been reviewed and approved by Benjamin Kuzmich, PGeo, vice-president of exploration of Libra. Ben Kuzmich is a qualified person as defined in National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

About Libra Energy Materials Inc.

Libra is a Canadian mineral exploration company focused on the discovery and development of the critical minerals necessary for the green energy transition. Libra's Flanders North, Flanders South and SBC projects in Ontario are being explored under a $33-million earn-in deal with KoBold Metals Company. In addition, Libra has 100-per-cent ownership of another four lithium projects in Ontario and Quebec, Canada, as well as another 21 lithium projects, eight graphite projects and one cobalt project in Brazil -- an emerging critical minerals hub. The Libra team comprises a mix of seasoned executives, engineers and geoscientists, with extensive experience in mining and mineral exploration, capital markets, asset management, energy, and first nations engagement.

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