Leading Edge Receives Continued High Grade Cobalt-nickel Results From Systematic Gallery Chip Sampling, Bihor Sud Project, Romania

LEADING EDGE RECEIVES CONTINUED HIGH GRADE COBALT-NICKEL RESULTS FROM SYSTEMATIC GALLERY CHIP SAMPLING, BIHOR SUD PROJECT, ROMANIA

- Sampling exceeds high grade Co-Ni-Au mineralization within Gallery G7

- Multiple Co-Ni-Au-mineralized zones within a 400 m long section

- Highlights include 6.7% Co, 13.0% Ni, 7.5 g/t Au with 33% exceeding 0.44% Ni equivalent^*

Vancouver, December 14, 2023 - Leading Edge Materials Corp. ("Leading Edge Materials" or the "Company") (TSXV: LEM) (Nasdaq First North: LEMSE) (OTCQB: LEMIF) (FRA: 7FL) is pleased to announce it has received further positive assay results for Co-Ni-Au from Gallery 7. This second batch of 104 samples prolongate the zone of Co-Ni-Au-occurrences by about 250 m to a total length of roughly 400 m NNW-SSE, and constitute the central-southern part of G7 at the Bihor Sud project in Romania.

Eric Krafft, Chief Executive Officer states: "We are very excited to see that our new assays demonstrate persistence of Co-Ni-Au-mineralization into G7, opening further, previously unknown potential. In combination with our mapping results, clearly outlining the structural context and strike/dip directions of mineralized zones, these findings yield immediate drill targets. The Company has therefore decided to skip channel sampling of these zones but proceed directly to an underground drill program."

Co-Ni-Au in Gallery 7
Observed Co-Ni-mineralization extends a considerable distance and will add to the overall strike length of the total mineralized G7 segment. The structurally controlled mineralized zones are commonly traced on the gallery walls over few metres to few tens of metres and are on the order of 20-80 cm thick but may occur in a stacked manner with barren material in between. Mineralization occurs on the foliation of schists, on the cleavage in schists, and on faults. A total of 104 chip samples were collected from G7 (see Table 1), and extends the sampling and assay results reported on October 25, 2023.

Chip samples mostly of 0.5-2 kg, were collected from mineralized zones identified visually on mapping and by handheld XRF. Exposed mineralization was sampled at a spacing of approximately 1 metre along strike to understand the extent of mineralized zones on the gallery walls in preparation of a follow-up drilling campaign. All Co-Ni-Au results available to date are displayed schematically on the gallery plan in Fig. 2.

*Nickel equivalent grades are based on the following metal prices; gold 1978 US$/oz, cobalt 33,420 US$/t, nickel 18,000 US$/t.

Figure 1: License overview map showing the location of the Gallery 7. The extent of galleries is only schematically given.

Sample preparation and gold assays were performed by ALS Romania; assays for all other elements were performed by ALS Geochemistry in Ireland (Loughrea). The QP has reviewed the QA/QC data including sample handling, security and analytical procedure, and has no doubt that the reported results were obtained to best industry practices. Samples were chipped from marked places at the gallery walls, immediately bagged, the bags solidly closed and locked away so that no manipulation could occur. At the laboratory, samples were dried, crushed to 70 % passing -2mm, and a 250 g split was pulverized to +85 % passing 75 µm. Samples were analyzed for gold by fire assay of a 30 g subsample with an AAS finish, and for 33 elements with four acid digestion and ICP-MS finish. Standard, blank, and duplicate results suggest that the reported data is accurate.

Figure 2: G7 chip sample results to date.

Table 1: Chip assay results from mineralized exposures along a 250 m segment in Gallery 7, spaced approximately 1 metre apart in individual exposures (Ni-equivalent: normal font <0.44%, italics 0.44-1.7%, bold >1.7-8%, bold italics >8%).

Qualified Person

The scientific and technical information in this release has been reviewed, verified, and approved by, a Martin S. Oczlon, PhD Geol, CEngMIMMM, a consultant to Leading Edge Material and Qualified Person as defined in Canadian National Instrument 43-101 "Standards of Disclosure for Mineral Projects" ("NI 43-101").

The QP has reviewed and verified the QA/QC data including sample handling, security and analytical procedure, and has no doubt the reported results have been obtained by the laboratory to best industry practices.

Sample preparation and gold assays were performed by ALS Romania; assays for all other elements were performed by ALS Geochemistry in Ireland (Loughrea).

On behalf of the Board of Directors,
Leading Edge Materials Corp.

Eric Krafft, CEO

For further information, please contact the Company at:
info@leadingedgematerials.com
www.leadingedgematerials.com

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About Leading Edge Materials
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 batteries for electromobility and energy storage and permanent magnets for electric motors and wind power that underpin the clean energy transition towards climate neutrality. The portfolio of projects includes the 100% owned Woxna Graphite mine (Sweden), Norra Karr HREE project (Sweden) and the 51% owned Bihor Sud Nickel Cobalt exploration alliance (Romania).

Additional Information

The information was submitted for publication through the agency of the contact person set out above, on December 14, 2023, at 1:00 PM Vancouver time.

Leading Edge Materials is listed on the TSXV under the symbol "LEM", OTCQB under the symbol "LEMIF" and Nasdaq First North Stockholm under the symbol "LEMSE". Mangold Fondkommission AB is the Company's Certified Adviser on Nasdaq First North and may be contacted via email CA@mangold.se or by phone +46 (0) 8 5030 1550.

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Attachments

• 202312_LEM Announces Further Co-Ni-Au Results from Gallery 7_Martin Draft_DM_MO edit(2)
• Figure 1
• Figure 2