LEADING EDGE MATERIALS DRILLS NEAR-MINE TO TEST FOR A LARGER REGIONAL GRAPHITE SYSTEM AT WOXNA, SWEDEN
Leading Edge Materials extends its private placement closing to late September while initiating a new drill program at the Woxna project.
Leading Edge Materials Corp. announced the commencement of a five-hole diamond drilling program at its Woxna Graphite Project in Sweden. The program targets the Kringeltjärn, Råttjärnamyren, and Svartboberget occurrences to test for a larger, connected regional graphite system based on historical geophysical data.
The company also announced an extension of the closing date for its previously announced C$6,000,000 non-brokered private placement to on or before September 25, 2026. Proceeds from the financing are designated for advancing the Norra Kär Heavy Rare Earth Elements Project (Pre-Feasibility Study and permitting), Woxna mine restart studies, and general working capital.
Leading Edge Materials Corp. (LEM) announced a drilling program as a routine, expected step in its exploration efforts to de-risk the Woxna asset and test resource continuity. The announcement contains no assay results or immediate commercial implications.
Additionally, the company provided a standard administrative update regarding its private placement extension. The terms remain unchanged, and the cornerstone shareholder's standby commitment ensures the full C$6M raise will close.
This news is incremental and aligns with previous management guidance. It does not alter the company's fundamental outlook, liquidity position, or near-term catalysts.
Leading Edge Materials Corp. is a Canadian mining company focused on critical raw materials in Sweden and Romania. Its flagship asset is the Norra Kär Heavy Rare Earth Elements (HREE) Project in Sweden, which holds a 25-year exploitation concession (mining lease) granted in June 2026. The project targets dysprosium, terbium, and yttrium, with a 2021 PEA indicating a $762M USD NPV and 26.3% IRR.
The company also owns the Woxna Graphite Mine in Sweden, a fully constructed and permitted natural flake graphite mine currently maintained on a production-ready basis. The company is conducting metallurgical testwork and restart studies. Additionally, Leading Edge Materials holds a 90% JV interest in the Bihor Sud Nickel-Cobalt Exploration Project in Romania, where recent underground exploration has identified polymetallic and cobalt-nickel mineralization.