Leading Edge Materials Receives Approval FOR First-Year Exploration Program IN Romania
NEWS RELEASE July 14, 2022
LEADING EDGE MATERIALS CORP.
14th Floor, West Georgia Street, Vancouver, BC, V6E 4H1
[email protected] | www.leadingedgematerials.com
TSX.V: LEM | Nasdaq First North: LEMSE | OTCQB: LEMIF | FRA: 7FL
TSX.V: LEM | Nasdaq First North: LEMSE | OTCQB: LEMIF
LEADING EDGE MATERIALS RECEIVES APPROVAL FOR
FIRST-YEAR EXPLORATION PROGRAM IN ROMANIA
Vancouver, July 14, 2022 – Leading Edge Materials Corp. (“Leading Edge Materials” or the “Company”)
(TSXV: LEM) (Nasdaq First North: LEMSE) (OTCQB: LEMIF) (FRA: 7FL) is pleased to report that it has received
confirmation that the National Agency for Mineral Resources (“NAMR”) has approved the first-year exploration
program (the “Exploration Program”) for the Bihor Sud exploration license (the “Project”).
Highlights:
▪ Exploration to focus on surface mapping and re-opening historical galleries
▪ Rock grab samples from mine dumps report grades up to 6.8% Cobalt and 28% Nickel
The Exploration Program covers a number of initial exploration activities to validate the geological potential of
the Project and further build on information acquired under the earlier prospecting permit. Planned
exploration activities include geological and topographical mapping, geophysical studies and surface
sampling. Owing to a vast amount of historical underground mine workings and exploration adits within the
perimeter, an additional focus area will be to prepare for and re-open an initial three mine galleries which
would allow the exploration team to continue exploration activities underground during the winter season.
The Company is working on organizing the local exploration team and required land, environmental and local
permits which upon completion will allow camp establishment and start of exploration work.
(Figure 1: Map showing exploration license perimeter, exploration target zones and selection of identified historical mine
gallery entrances.)
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Initial exploration work will focus on establishing an exploration camp in the Leucii Zone in the south-western
area of the license perimeter. Entrance to this area is facilitated by an existing forestry road and will grant the
exploration team and consultants a base for accessing gallery openings G7 and G4 in the Leucii Zone, and G
Dibarz in the Dibarz Zone (See Figure 1). This area was prioritized based on results from previous work done
and sampling of historical mined material during the prospecting permit as presented in the table below.
Most mine gallery openings are located on the hillsides in the valleys with waste rock having been deposited
outside of the openings on the slopes below. During the prospecting work rock grab samples were collected
from these mine dumps often resulting in high grade cobalt and nickel grades from assays. Notably, many of
these samples represent disseminated mineralization in dark schist and carbonate derived from unknown
zones in the galleries. One of the immediate exploration targets would be to identify the location and extent
of these zones once the galleries are accessible.
Sample ID
Easting
Stereo70
Northing
Stereo70 Altitude
Sample
Wt. kg Co ppm Co% Ni ppm Ni% Au ppm Au ppm
Assay Method ME-ICP61a Co-OG62 ME-ICP61a Ni-OG62 Au-ICP21 Au-GRA21
Leucii Zone
LEMHG2-01 320072 515459 775 1.27 1.115 1.805 0.09
LEMHG7-01 318831 546106 590 1.3 1.585 1.755 0.77
LEMHG7-02 318740 546076 590 0.57 1.755 2.320 0.68
LEMHG7-03 318740 546076 590 1.31 1.415 3.430 0.34
LEMHG7-04 318740 546076 590 1.25 0.944 25.500 3.36
LEMHG7-05 318740 546076 590 1.87 45800 12.700 17.75
LEMHG7-06 0.08 21800 16.550 8.12
LEMHG7-07 0.67 19500 89600 1.07
LEMHG7-08 0.14 1410 18.250 0.517
LEMHG7-09 0.66 15700 28000 0.334
LEMHG7-10 0.37 8400 28.000 2.52
LEMHG7-11 1.21 25900 26500 1.91
Dibarz Zone
LEMDIB-01 320356 546974 845 0.21 1.020 9.410 0.72
Avram Zone
LEMHG11N-01 322186 548867 1124 0.45 5.490 32400 0.54
LEMHG16bis-01 322115 548752 1129 0.14 13800 25.100 0.419
LEMHGAR-01 321964 549119 1148 0.07 6.830 39500 0.436
LEMHG14/16-01 320336 549030 1128 0.32 48600 44300 0.168
LEMHG14/16-02 320336 549030 1128 0.20 38500 40400 0.075
LEMHG14/16-03 320336 549030 1128 0.39 5.630 69600 0.178
LEMHG14/16-04 320336 549030 1128 0.42 530 680 0.005
LEMHG14/16-05 320336 549030 1128 0.19 6.320 73200 0.457
LEMHG14/16-06 320336 549030 1128 0.10 5.960 68800 0.337
LEMHG10-01 320328 549412 1186 0.86 9950 12100 0.699
LEMHG10-02 320328 549412 1186 0.17 15200 21900 0.844
LEMHG10-03 320328 549412 1186 0.03 6.610 54200 0.201
Filip Kozlowski, CEO of the Company states: “The approval of the first-year exploration program takes us
another step closer to commencing the real exploration work on the ground in Bihor Sud. Primary focus
within the exploration program will be to establish an exploration camp within the Leucii Zone to build on
some of the very promising results discovered under the prospecting permit. In parallel, commencing work
on re-opening the G7, G4 and G Dibarz galleries creates an opportunity to potentially continue underground
exploration work over the winter season giving us a running start as we look ahead to further exploration
work in 2023.”
The Bihor Sud exploration license perimeter covers a 25 square kilometer area in the Northern Apuseni
Mountains of Transylvania. Located approximately 90 km south-east from Oradea which is the administrative
capital of Bihor County, the Project lies within the Upper Cretaceous and Neogene Carpathian magmatic arcs
which extend from Turkey to Hungary and are host to several well-known mines and mineral deposits such as
the Timok-Bor-Majdanpek copper-gold zone, Skouries and Chelopec. The Northern Apuseni Mountains have
documented high grade skarn and carbonate replacement mineral deposits and historic production of Cu,
Mo, Ag, Au, Zn, U and Pb. Within the License area, there is a significant amount of historical mine works
including a substantial former underground uranium mine which stopped production in the 1990s. The
demand for nickel and cobalt is expected to grow significantly over the next decade due to their use in high-
energy density cathode materials for lithium-ion batteries. With Europe currently reliant on importing these
critical raw materials from third countries that control mining and refining along the value chain, establishing
primary sources and refining capacity within the European Union would enable a more secure and
sustainable alternative for European battery manufacturers.
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The Project is developed by Leading Edge Materials through its 51% owned local Romanian joint-venture
subsidiary, LEM Romania SRL (“LEMR”), with a local Romanian arm’s length part owning the residual 49%.
Pursuant to a JV Agreement, Leading Edge Materials will be transferred an additional 39% ownership interest
in LEMR (for an aggregate 90% ownership) triggered by the filing on SEDAR of a positive Feasibility Study
technical report for the Project (see news release April 29, 2018 and August 9, 2018).
QA/QC and Qualified Person
The position of rock grab samples from the mine dumps were recorded with GPS (the not GPS-recorded
samples LEMHG7-06 to -11 all come from mine dumps below gallery G7) and sent for sample preparation to
ALS Romania SRL’s laboratory in Rosia Montana, Alba, Romania (CRU-31, PUL-31, SPL-22Y). Gold assays were
performed at ALS Romania, and all other elements were assayed at the ALS laboratory in Dublin, Ireland, as
per the assay codes in the table above. ALS followed the standard QA/QC protocol. The Company believes
that the reported results are accurate and repeatable but cautions that neither the precise location nor the
extent of mineralized zones in the galleries are currently known, and that no inferences on the grade and size
potential of mineralized zones can be made at this stage.
Martin S. Oczlon, PhD Geo, CEng MIMMM, a consultant to Leading Edge Materials and Qualified Person as
defined in NI 43-101, has reviewed and verified the technical content of this press release.
On behalf of the Board of Directors,
Leading Edge Materials Corp.
Filip Kozlowski, CEO
For further information, please contact the Company at:
www.leadingedgematerials.com
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About Leading Edge Materials
Leading Edge Materials is a Canadian public company focused on developing a portfolio of critical raw
material projects located in the European Union. Critical raw materials are determined as such by the
European Union based on their economic importance and supply risk. They are directly linked to high growth
technologies such as batteries for electromobility and energy storage and permanent magnets for electric
motors and wind power that underpin the clean energy transition towards climate neutrality. The portfolio of
projects includes the 100% owned Woxna Graphite mine (Sweden), Norra Karr HREE project (Sweden) and the
51% owned Bihor Sud Nickel Cobalt exploration alliance (Romania).
Additional Information
The information was submitted for publication through the agency of the contact person set out above, on
July 14, 2022, at 4:00 am Vancouver time.
Leading Edge Materials is listed on the TSXV under the symbol “LEM”, OTCQB under the symbol “LEMIF” and
Nasdaq First North Stockholm under the symbol "LEMSE". Mangold Fondkommission AB is the Company’s
Certified Adviser on Nasdaq First North and may be contacted via email [email protected] or by phone +46 (0)
8 5030 1550.
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Reader Advisory
This news release may contain statements which constitute “forward-looking information” under applicable Canadian
securities laws, including statements regarding plans, intentions, beliefs and current expectations of the Company, its
directors, or its officers with respect to the future business activities of the Company. The words “may”, “would”, “could”,
“will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to the Company, or
its management, are intended to identify such forward-looking information. Investors are cautioned that any such forward-
looking information is not a guarantee of future business activities and involves risks and uncertainties, and that the
Company’s future business activities may differ materially from those in the forward-looking information as a result of
various factors, including, but not limited to; the Company’s objectives, goals or future plans, statements; exploration
results, potential mineralization, the estimation of mineral resources, exploration and mine development plans; the
Company has yet to generate a profit from its activities; there can be no guarantee that the estimates of quantities or
qualities of minerals disclosed in the Company’s public record will be economically recoverable; uncertainties relating to the
availability and costs of financing needed in the future; competition with other companies within the mining industry; the
success of the Company is largely dependent upon the performance of its directors and officers and the Company’s ability
to attract and train key personnel; changes in world metal markets and equity markets beyond the Company’s control; the
possibility of write-downs and impairments; the risks associated with uninsurable risks arising during the course of
exploration, development and production; the risks associated with changes in the mining regulatory regime governing the
Company; the Company’s ability to secure necessary permits to complete exploration work; the potential re-opening of
mine galleries in Bihor Sud; and the uncertainty relating to a positive Feasibility Study technical report being filed. Although
the Company has attempted to identify important factors that could cause actual results to differ materially from those
contained in the Forward-Looking Statements, there may be other factors that cause results not to be as anticipated,
estimated or intended. There can be no assurance that such Forward-Looking Statements will prove to be accurate, as
actual results and future events could differ materially from those anticipated in such Forward-Looking Statements. Such
Forward-Looking Statements has been provided for the purpose of assisting investors in understanding the Company’s
business, operations and exploration plans and may not be appropriate for other purposes. Accordingly, readers should
not place undue reliance on Forward-Looking Statements. Forward-Looking Statements are made as of the date hereof,
and the Company does not undertake to update such Forward-Looking Statements except in accordance with applicable
securities laws.
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