Libra Provides Exploration Update from Penelope Project, Brazil

Executive Summary

• Libra Energy Materials announces a strategic shift for its 100 % owned Penelope Project in Brazil, downgrading lithium focus and upgrading the prospectivity for Rare Earth Elements (REEs), niobium, tantalum, and gallium.
• High‑grade geochemical results were identified: 8,780 ppm Nb, 10,900 ppm Ta, rock chip averages of 1,555 ppm REE and 844 ppm REE, plus up to 65.2 ppm Ga.
• The company will seek a partner or buyer for Penelope and plans a low‑cost auger drilling program targeting the full suite of REEs.

Key Details

• Project Reassessment: Based on comprehensive review of historic data and recent sampling, Penelope is re‑classified from a primary lithium target to an REE‑focused prospect.
• Geochemical Highlights:
• Niobium: 8,780 ppm (Gaia Pegmatite)
• Tantalum: 10,900 ppm (Gaia Pegmatite)
• Total REEs in rock chip panels: average 1,555 ppm (Elena Target) and 844 ppm (Elena Target)
• Soil REE anomalies: average 230 ppm total REE across the property
• Gallium concentrations: up to 65.2 ppm Ga (Selene target), 62 ppm Ga (Elena target), 43 ppm Ga (Nice target)
• Geological Interpretation: Signature aligns with NYF‑type (Niobium‑Yttrium‑Fluorine) pegmatites rather than LCT‑type lithium systems, indicating potential for REE‑enriched mineralization.
• Next Steps:
• Initiate a targeted auger drilling program to assay for the full suite of REEs not previously tested.
• Commence a process to identify a logical partner or buyer with dedicated REE focus; aim to monetize or option out Penelope.
• Qualified Person: Benjamin Kuzmich, P.Geo., VP Exploration (NI 43‑101 qualified).

Notable Quotes

“Exploration is about listening to what the rocks are telling you, not forcing a model that doesn't fit,” – Koby Kushner, CEO, Libra Energy Materials.
“Given our focus as a primary lithium explorer, we intend to monetize or option out Penelope to another party with a dedicated focus on REEs.” – Koby Kushner.