Libra Enhances KoBold Earn-In Agreement at Flanders North
Libra Enhances KoBold Earn-In Agreement at
Flanders North
Toronto, Ontario--(Newsfile Corp. - August 7, 2025) - Libra Energy Materials Inc. (CSE: LIBR) (FSE:
W0R0) ("
Libra
" or the "
Company
") is pleased to announce the execution of a Second Amending
Agreement (the "Amendment") to its Earn-In Agreement ("EIA") with KoBold Exploration Canada Inc.
("KoBold"), dated November 13, 2024, and previously amended on February 12, 2025. This amendment
refines the terms of the agreement to streamline exploration efforts at the Flanders North project in
Ontario, Canada, ensuring Libra's ability to maintain broader exposure over the Flanders North project
area.
The Amendment updates the schedules of the EIA to reflect the reacquisition of certain previously lapsed
mining claims within the Flanders North project area, ensuring the project's footprint remains robust and
focused. Additionally, it introduces a streamlined process for future schedule updates, allowing both
parties to efficiently adapt to project developments through mutual consent. This increased flexibility
allows both companies to quickly manage land acquisitions without losing momentum on the exploration
front.
"This amendment strengthens our agreement with KoBold by sharpening the project's scope and
enhancing our ability to execute efficiently," said Koby Kushner, CEO of Libra Energy Materials. "We
continue to work closely with KoBold as we wrap up the first phase of exploration on the Flanders North,
Flanders South, and SBC projects."
As outlined in prior press releases (December 2, 2024, and February 20, 2025), the EIA enables
KoBold to earn interests in the Flanders North, Flanders South, and SBC projects through staged
project-level investments while allowing Libra to retain significant upside through equity stakes,
milestone payments, and royalties.
About Libra Energy Materials Inc.
Libra (CSE: LIBR) (FSE: W0R0) is a Canadian mineral exploration company focused on the discovery
and development of the critical minerals necessary for the green energy transition. Libra's Flanders
North, Flanders South, and SBC projects in Ontario are being explored under a CAD$33M earn-in deal
with KoBold Metals Company. In addition, Libra has 100% ownership over its Toivo project in Ontario,
adjacent to SBC, and its Nemiscau and Wegucci projects in Quebec, Canada. The Libra team
comprises a mix of seasoned executives, engineers, and geoscientists, with extensive experience in
mining and mineral exploration, capital markets, asset management, energy, and First Nations
engagement.
About KoBold Metals Company
KoBold Metals Company is a US-based exploration and mining company that combines expertise in
geosciences with artificial intelligence, machine learning, and data science to improve and accelerate
the exploration process in search for the critical minerals necessary for the global energy transition.
For more information, please contact the Company at:
Koby Kushner, P.Eng., CFA
Chief Executive Officer, Libra Energy Materials Inc.
e:
t: 416-846-6164
Forward-Looking Information
This news release contains forward-looking statements and forward-looking information within the
meaning of applicable securities laws. These statements relate to future events or future performance.
All statements other than statements of historical fact may be forward-looking statements or information.
The forward-looking statements and information are based on certain key expectations and assumptions
made by management of the Company. Although management of the Company believes that the
expectations and assumptions on which such forward-looking statements and information are based are
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since no assurance can be given that they will prove to be correct.
Forward-looking statements and information are provided for the purpose of providing information about
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such as making investment decisions. Since forward-looking statements and information address future
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could differ materially from those currently anticipated due to a number of factors and risks. Accordingly,
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https://www.newsfilecorp.com/release/261617