Libra Energy Materials prepares for Stimson drilling

Executive Summary

• Libra Energy Materials Inc. has begun mobilization for its maiden drill program at the 100%-owned Stimson lithium-cesium project in Ontario.
• The initial drill program is designed to test a historical unassayed hole that previously returned three intervals of possible spodumene, located near the Quetico-Abitibi subprovince boundary.
• The company also announced the issuance of 250,000 incentive stock options to consultants, subject to regulatory approval.

Key Details

• Drill Program Details:
  • Location: Stimson project, Case Lake lithium-cesium district, Ontario.
  • Objective: Test a historical unassayed hole (DDH PT94-11) for potential spodumene and pollucite.
  • Historical Context: The target hole logged 39.8 metres of granitic complex (60.0 m to 99.8 m), with an unknown portion identified as pegmatite containing possible spodumene.
  • Strategic Rationale: Stimson is located along strike of Power Metals' Case Lake deposit and straddles the Quetico and Abitibi subprovinces, a boundary proven fertile for lithium-cesium-tantalum (LCT) pegmatites.
  • Mineral Targets: Primarily spodumene; also evaluating potential for pollucite.
  • Infrastructure: The site has excellent infrastructure access, allowing for a cost-effective evaluation.
• Corporate Actions:
  • Option Grant: Issued 250,000 incentive stock options to certain consultants.
  • Exercise Price: 18 cents per common share.
  • Vesting: One-year period.
  • Expiration: Five years from the date of grant.
  • Status: Subject to approval by the Canadian Securities Exchange.
• Project Background:
  • Stimson is part of Libra's Ontario portfolio, acquired via releases dated Aug. 25, 2025, and Jan. 14, 2026.
  • Libra holds 100% ownership of Stimson.
  • Other assets include Flanders North, Flanders South, and SBC projects under a $33-million earn-in deal with KoBold Metals Company, plus additional projects in Ontario, Quebec, and Brazil.

Notable Quotes

• "We are ready to kick off the new year with our first-ever drill program at Stimson. The initial scout hole will test a historical unassayed hole, which returned at least three intervals of possible spodumene, located proximal to the same geological subprovince boundary that hosts Power Metals' nearby Case Lake lithium-cesium project -- one of the largest cesium resources globally. With excellent infrastructure access, we expect the drill program to be a cost-effective way to quickly evaluate whether further work would be warranted at Stimson." — Koby Kushner, CEO