Mr. Koby Kushner reports

LIBRA ANNOUNCES CLOSING OF SECOND AND FINAL TRANCHE OF OFFERING FINANCING

Libra Energy Materials Inc. has closed the second and final tranche of its non-brokered private placement financing previously announced Aug. 28, 2026, and upsized on Sept. 4, 2026, and Sept. 11, 2026. The company announced closing of the first tranche on Sept. 18, 2026, to raise gross proceeds of $1,399,521.91.

The second and final tranche closing raised an aggregate of $485,878.04, consisting of the following:

• $110,878.04 through the issuance of 852,908 critical mineral flow-through common shares (CMETC FT shares) at a price of 13 cents per CMETC FT share;
• $375,000 through the issuance of 3.75 million non-flow-through common shares (HD shares) at a price of 10 cents per HD share.

The LIFE offering resulted in the issuance of an aggregate of 3,084,615 CMETC FT shares ($400,999.95) and 14,844,000 HD shares ($1,484,400) for a raise of gross aggregate proceeds to the company of $1,885,399.95.

"We are very pleased with the quality of the book. Existing shareholders accounted for approximately half of the shares issued, including insiders and advisers who took more than 15 per cent. Institutional support was equally strong, with long-term funds and family offices representing about one-third of the placement, the majority of that demand coming from Australia. The financing also broadened the register internationally, with Europeans and Australian investors covering approximately 15 per cent and 25 per cent of the book, respectively. We thank our existing shareholders for doubling down, and we welcome our new investors at an important moment as we advance Cisco West and Obamska toward discovery," said Koby Kushner, chief executive officer of Libra.

The company relied on 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 dated Sept. 11, 2026, 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.

In connection with the second tranche of the LIFE offering, the company paid an aggregate cash finder's fee of $2,000 to an eligible finder, together with $1,500 in the first tranche, for total finders' fees of $3,500 payable in cash, on proceeds raised from subscribers introduced by such finder, in accordance with applicable securities laws and Canadian Securities Exchange requirements. No insider of the company participated in the second tranche of the LIFE offering. An aggregate of 1,319,000 HD shares for aggregate proceeds of $131,900 were subscribed for by insiders in the first tranche. 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.

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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