Mr. Koby Kushner reports

LIBRA CLOSES FIRST TRANCHE OF OFFERING FINANCING

Libra Energy Materials Inc. has closed the first tranche of its non-brokered private placement offering announced Aug. 28, 2026, as amended Sept. 4, 2026, and Sept. 11, 2026 (the LIFE offering). Due to high investor interest, the company exercised its option to increase the size of the LIFE offering from $700,000 up to $2-million. An aggregate of $1,399,521.91 has been raised in the first tranche consisting of the following:

• $290,121.91 through the issuance of 2,231,707 critical mineral flow-through common shares (CMETC FT shares) at a price of 13 cents per CMETC FT share;
• $1,109,400 through the issuance of 11,094,000 non-flow-through common shares (HD shares) at a price of 10 cents per HD share.

The shares have been issued on a private placement basis pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 -- Prospectus Exemptions, as amended and supplemented by Coordinated Blanket Order 45-935 -- Exemptions from Certain Conditions of the Listed Issuer Financing Exemption. Accordingly, the shares issued in the LIFE offering are not subject to resale restrictions pursuant to applicable Canadian securities laws.

The company intends to use the net proceeds of the LIFE offering, as more specifically described in the amended and restated offering document and for exploration activities, general corporate, and working capital purposes. There is an amended and restated offering document related to the LIFE offering that can be accessed under the company's profile at SEDAR+ and on the company's website. Prospective investors should read this amended and restated offering document before making an investment decision.

In connection with the LIFE offering, the company paid an aggregate cash finder's fee of $1,500 to an eligible finder, equal to 6 per cent of the cash proceeds raised from subscribers introduced by such finder, in accordance with applicable securities laws and Canadian Securities Exchange requirements. Certain insiders of the company participated in the LIFE offering for an aggregate of 1,319,000 HD shares for aggregate proceeds of $131,900. The participation by insiders constitutes a related party transaction within the meaning of Multilateral Instrument 61-101 -- Protection of Minority Shareholders in Special Transactions. The company has relied on applicable exemptions from the formal valuation and minority approval requirements in sections 5.5(a) and 5.7(1)(a), respectively, of MI 61-101. The company did not file a material change report with respect to the insider participation more than 21 days before the expected closing of the LIFE offering, as the details and amounts of the insider participation were not finalized until shortly prior to closing and the company wished to close the transaction as soon as practicable for sound business reasons.

The company expects to close the second and final tranche of the LIFE offering within the next few days.

Completion of the LIFE offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals, including the approval of the Canadian Securities Exchange.

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 flagship Canadian projects include the recently optioned Cisco West and Obamska lithium projects in Quebec, located adjacent to Q2 Metals' Cisco deposit -- the largest hard-rock lithium deposit in the Western Hemisphere. Libra's Flanders North, Flanders South and SBC lithium projects in Ontario are being explored under a $33-million earn-in deal with KoBold Metals Company. In addition, Libra holds a broader portfolio of battery metals projects across Canada and Brazil. 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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