Libra Commences Maiden Drilling Program at Penelope Project, Brazil

Executive Summary

• Libra Energy Materials Inc. announced the start of its maiden auger drilling program at the 100% owned Penelope Project in Minas Gerais, Brazil, targeting the high‑priority Elena and Gaia REE zones.
• Prior surface sampling at the project returned impressive grades (up to 3,103 ppm total REEs; 8,780 ppm Nb; 10,900 ppm Ta), providing a strong basis for deeper auger testing to 5–20 m depth.
• The program is intended to quickly assess the vertical distribution and scale of REE mineralization within the regolith profile, supporting future development decisions.

Key Details

• Project Location: Penelope Project, Minas Gerais, Brazil – a region noted for emerging ionic‑adsorption clay (IAC) and hard‑rock REE potential.
• Drilling Scope: Auger holes to depths of 5 – 20 m targeting Elena and Gaia pegmatite zones.
• Historical Sampling Highlights:
• Elena Pegmatites – average 1,555 ppm total REEs, 844 ppm total REEs (rock chip panels).
• Gaia Pegmatite – anomalous high‑grade Niobium (8,780 ppm Nb) and Tantalum (10,900 ppm Ta).
• Shallow soil samples – up to 517 ppm total REEs and 43 ppm Ga at only 80 cm depth.
• Previous Surface Results: Up to 3,103 ppm total REEs from earlier sampling (Feb 26 2026 press release).
• Program Objective: Rapidly evaluate the scale and depth potential of REE mineralization; improve understanding of vertical distribution within regolith for valuation modeling.
• Qualified Person: Benjamin Kuzmich, P.Geo., VP Exploration – reviewed and approved technical information per NI 43‑101 standards.

Notable Quotes

• “The auger program will provide critical early insights into the vertical distribution of REEs within the regolith profile and allow a better understanding of the Project's potential value.” – Koby Kushner, CEO & Director, Libra Energy Materials Inc.