LEADING EDGE MATERIALS CO - LEMIF STOCK NEWS

Leading Edge Materials has submitted a 25-year mining lease application for the Norra Kärr Heavy Rare Earths Project to Sweden's Mining Inspectorate. The project, redesigned in 2021, separates mining from chemical processing activities, with processing relocated to an industrial park. The new design reduces operational area by 65%, water usage by 30%, and increases material conversion to products from 1% to 60%.

The 2021 Preliminary Economic Assessment highlights include: $1,026M pre-tax NPV, 30.8% IRR, $487M initial CAPEX, and 26-year mine life. Annual production targets include 5,341 tonnes of TREO and 732,885 tonnes of Nepheline Syenite co-product. The company plans further testwork in Q1 2025 to explore market potential for nepheline syenite and aegirine.

Leading Edge Materials Corp. (TSXV: LEM) (Nasdaq First North: LEMSE) (OTCQB: LEMIF) has closed the second and final tranche of its private placement, issuing 6,710,000 common shares at $0.10/share for gross proceeds of CAD$671,000. The placement includes Units consisting of one common share and one purchase warrant, with each warrant allowing the purchase of one common share at C$0.20 for four years from the closing date.

The company plans to use the net proceeds for its projects in Sweden and Romania, as well as for general working capital and corporate purposes. The private placement is subject to final approval from the TSX Venture Exchange, with securities subject to a hold period expiring on January 27, 2025. Notably, insiders purchased 16,500,000 Units, constituting a related party transaction under MI 61-101.

Leading Edge Materials Corp. (TSXV: LEM) (OTCQB: LEMIF) has initiated exploration diamond drilling at its Bihor Sud Project in Romania. The primary goal is to identify a large-scale, potentially mineable body of mineralization. Initial findings indicate strong potential for significant polymetallic mineralized zones with evidence of extension in both strike and depth.

Drilling will begin in gallery G7, targeting Cobalt-Nickel-Gold mineralization zones reported in late 2023, before moving to gallery G2. The Company's new Chief Geologist is on-site managing the exploration program. Previous assay results from G7 showed high-grade samples including 6.7% Cobalt, 13.0% Nickel, and 7.5 g/t gold. In gallery G2, extensive Zinc-Lead-Silver-Copper mineralization zones were identified, with a zinc-equivalent average grade of 7.34% from ten chip samples.

Leading Edge Materials Corp. (TSXV: LEM) reported its Q3 2024 results ending July 31, 2024. Key highlights include:

- Appointment of Kurt Budge as CEO on May 19, 2024
- Discovery of extensive Zn-Pb-Ag+/-Cu mineralization at Bihor Sud Project in Romania
- Closing of first tranche of private placement, raising CAD$3,440,000

Financial results:
- Q3 2024 net loss: $822,238 (compared to Q2 2024 net loss of $859,529)
- Working capital as of July 31, 2024: $3,973,458
- Total assets: $28,454,783

The company is maintaining its Woxna Graphite Mine on a 'production-ready' basis and evaluating a potential restart. It's also advancing the Norra Kärr HREE Project and Bihor Sud Nickel-Cobalt Exploration Project. The company anticipates sufficient funding for corporate administration but will need additional capital for operations and project development.

Leading Edge Materials Corp. (LEMIF) has received a 30-day extension from TSX Venture Exchange to close its private placement, with the new expiry date set for September 27, 2024. The company previously announced plans to raise up to C$4,500,000 through a non-brokered private placement of up to 45,000,000 units at C$0.10 per unit. Each unit consists of one common share and one warrant, with each warrant allowing the purchase of an additional share at C$0.20 for four years.

On July 23, 2024, the company closed the first tranche, issuing 34,400,000 common shares for gross proceeds of CAD$3,440,000. The funds will be used for projects in Sweden and Romania, as well as general working capital. The private placement is directed towards Canadian, Nordic, and other international investors, with a minimum investment of EUR 100,000 for EEA investors.

Leading Edge Materials Corp. (LEMIF) has submitted an application for Strategic Project designation for its Norra Kärr Heavy Rare Earths (HREE) Project. The European Commission is expected to announce the first list of Strategic Projects in December 2024. Norra Kärr could potentially contribute to the EU's needs for a secure, resilient, and sustainable supply chain for permanent magnets manufacturing.

The project has been redesigned to increase resource utilization, improve environmental factors, and minimize local footprint. A new Exploitation Concession application is planned for Q4 2024. Norra Kärr is considered a mineral deposit of national interest by the Swedish Geological Survey and could be the EU's first step in HREE primary production, reducing dependency on China. The project aligns with the EU's Critical Raw Materials Act, which aims to ensure a secure and sustainable supply of critical raw materials.

Leading Edge Materials Corp. (TSXV: LEM) (Nasdaq First North: LEMSE) (OTCQB: LEMIF) has closed the first tranche of its previously announced private placement, raising CAD$3,440,000 by issuing 34,400,000 common shares at $0.10/share. Each unit includes one common share and one purchase warrant, exercisable at $0.20 for four years. The company plans to use the proceeds for projects in Sweden and Romania, as well as working capital. Insiders, including director Eric Krafft, participated significantly in the placement. Mr. Krafft now owns approximately 37.97% of the company's shares on a non-diluted basis. The private placement is subject to TSX Venture Exchange approval and includes a hold period until November 24, 2024.

Leading Edge Materials Corp. (LEMIF) announces a non-brokered private placement of up to 45,000,000 units at C$0.10 per unit, aiming to raise up to C$4,500,000. Each unit consists of one common share and one warrant, exercisable at C$0.20 for four years. The company plans to use the proceeds for projects in Sweden and Romania, as well as working capital. The placement is directed towards Canadian, Nordic, and international investors, with a minimum investment of EUR 100,000 for EEA investors.

The private placement is subject to regulatory approvals, including TSX Venture Exchange approval. Insiders may participate, constituting a related party transaction, but the company expects to rely on exemptions from formal valuation and minority shareholder approval requirements. The securities will have a four-month hold period and are not registered under U.S. securities laws.

Leading Edge Materials reported its second-quarter results for the period ending April 30, 2024. The company reported a net loss of $859,529, an increase from the $685,928 loss in the previous quarter but a decrease from the $1,235,603 loss in the same period last year. The increase in loss from the previous quarter was mainly due to higher share-based compensation expenses, foreign exchange losses, and net mark-to-market adjustment losses. The company has working capital of $1,610,635 and total assets of $24,991,481. Recent announcements include the appointment of Kurt Budge as CEO and the identification of extensive mineralization at the Bihor Sud Project in Romania. The company is also considering a restart of the Woxna Graphite Mine and exploring various projects under the EU's Critical Raw Materials Act.