LEM.V · 2026-02-02 12:00:00

Leading Edge Materials’ Progress Update ON Romanian Exploration Project

Exploration Programs

NEWS RELEASE 2 FEBRUARY 2026

LEADING EDGE MATERIALS CORP.

14th Floor 1040 West Georgia Street, Vancouver, BC, V6E 4H1

[email protected] | www.leadingedgematerials.com

TSX.V: LEM | Nasdaq First North: LEMSE | OTCQB: LEMIF | FRA: 7FL

LEADING EDGE MATERIALS’ PROGRESS UPDATE ON ROMANIAN EXPLORATION PROJECT

• 2025 exploration campaign identifies significant areas of mineralisation underground in Valea

Leucii, Dibarz and Avram Iancu, and wider potential across the exploration licence.

• Underground development mapping and sampling data reveal extensive mineralisation.

• Potential exists for mineralisation between Valea Leucii, Dibarz, and Avram Iancu to be

connected, giving a mineralised zone extending approximately 6 kilometres north–south and

a similar distance east–west.

Vancouver, 2 February 2026 – Leading Edge Materials Corp. (“Leading Edge Materials ” or the

“Company”) (TSXV: LEM) (Nasdaq First North: LEMSE) (OTCQB: LEMIF) (FRA: 7FL) provides an update

on its exploration activities in Romania and latest assay results.

Key Findings from 2025 Campaign

• Mapping and sampling data reveal extensive mineralisation, notably in the form uranium oxide

associated with jasperoid silicification; polymetallic (copper (Cu), cobalt (Co), nickel (Ni), lead

(Pb) and zinc (Zn)) sulphides hosted in silica–carbonate rocks (including uranium occurrences);

and crystalline carbonate (limestone) exhibiting disseminated and stockwork -style sulphide

mineralisation. Supergene enrichment phases, such as erythrite and annabergite, fur ther

characterise the mineralogical diversity of the licence area.

• Notably, massive sulphide mineralisation is present at the Valea Leucii, Dibarz, and Avram Iancu

prospects, with a possibility that these occurrences are interconnected, forming part of a

broader mineral system. Moreover, historical prospecting rock chip d ata reported evidence of

widespread and pervasive uranium, base and precious metal mineralisation with anomalous

grades of up to 28% Ni, > 6% Co, > 3 ppm gold (Au), with one sample returning 17.75 ppm Au,

and uranium in excess of 0.3%.

• Although mineralisation has been intercepted with channel sampling, more analysis and further

study is required to fully understand its geometry, but it appears open in all directions.

• From channel sampling, the significant intercepts appear to show reasonably wide zones of low-

grade mineralisation encompassing higher grade cores, which is extremely encouraging.

• The Bihor Sud licence possesses a diverse and lengthy mining history, and despite considerable

historical extraction, the potential for a profitable, modern mining operation likely remains, with

significant areas of mineralisation observed underground in V alea Leucii, Dibarz and Avram

Iancu, and potential across the wider exploration licence.

Kurt Budge CEO comments:

"The evidence is building for large-scale mineralisation between Valea Leucii, Dibarz, and Avram Iancu,

providing a strong foundation for further exploration and resource potential. Historic grades and

tonnages from the district demonstrate comparable prospectivity, which we hope to realize, benefitting

from the complet ion of the Competent Person’s Report, attracting new investment directly into the

project, and with a reinvigorated and targeted exploration workplan.

Our strategy focuses on identifying thicker, more continuous mineralized lodes and targeting high -

priority feeder structures that could host significant resources. The region's geolog ical potential is

supported by several analogous deposits, including Cavnic, Suior and Rosia Montana.

With the recent upgrade of the Feldioara processing plant, securing new domestic uranium sources has

become strategically important for Romania's energy independence objectives. History shows the past

contribution from mining at Avram Iancu, and the potential remains for this area to once again produce

and serve this national priority."

Map of the Licence Area

SW corner gallery G7, bottom centre gallery G2, centre point of licence area Dibarz (connected to G2 via

a shaft), and NW corner gallery G11 Avram Iancu.

Map of Gallery G2, Directions offset from G2, and Transversals offset from Directions

Assay Results:

Exploration in Adit (Direction) D.14-2 Target

The D.14-2 target is located within the southern part of gallery G2 and is situated approximately 1,600

metres from the entrance heading right. Approximately 650 metres were mapped, channelled and 139

samples taken. Pb-Zn mineralisation was found in sections of D.14-2 and Tr.4-14-2.

Highlighted Intercepts:

• G2_CH075_LW: 15.0m@ 0.91% Pb and 0.83% Zn from 54.0m, including 6.0m@ 1.76% Pb and

1.56% Zn from 60.0m.

• G2_CH076_RW: 9.0m@ 1.92% Pb and 2.06% Zn from 68.0m, including 6.0m@ 0.21% Cu, 2.69%

Pb and 2.89% Zn from 70.0m.

• G2_CH077_LW: 12.0m@ 0.24% Pb and 0.29% Zn from 1.0m, including 5.0m@ 0.38% Pb and

0.49% Zn from 8.0m, including 6.0m@ 0.60% Pb and 0.55% Zn from 24.0m.\

Exploration in Adit (Direction) D.15-2 Target

The D.15-2 target is located within the northwestern part of gallery G2 and is situated approximately

1,600 metres from the entrance heading left. Approximately 2,300 metres were mapped, channelled,

and 173 samples taken.

Highlighted Intercepts:

• G2_CH036_LW: 1.0m@ 0.13% Cu, 1.08% Pb and 1.12% Zn from 0.0m.

• G2_CH038_RW to G2_CH040_RW: 3.0m@ 0.10% Cu, 0.97% Pb and 0.81% Zn from 31.0m,

including 1.0m@ 0.15% Cu, 1.87% Pb and 1.65% Zn at 33.0m.

• G2_CH041_LW to G2_CH044_LW: 3.0m @ 0.18% Cu, 1.16% Pb and 1.35% Zn. from 35.0m,

including 1.0m@ 0.44% Cu, 2.99% Pb and 3.66% Zn at 37.0m.

• G2_CH052_RF to G2_CH062_RF: 10.0m@ 1.55% Pb and 1.59% Zn from 0.0m, including 6.0m@

2.24% Pb and 2.41% Zn from 2.0m.

• G2_CH074_RW: 20.0 m @ 0.08% Cu, 1.10% Pb and 1.19% Zn from 417.0m, including 7.0m@

0.15% Cu, 2.21% Pb and 2.44% Zn from 417.0m.

Exploration in Adit (Transversal) Tr.20-15-2 Target

The Tr.20-15-2 target is located within the northern part of gallery G2 and is situated approximately

2,300 metres from the entrance offset and heading from D.15 -2. Approximately 1,000 metres were

mapped, channelled, and 58 samples taken. Higher grade Cu-Pb-Zn mineralisation was found in sections

of Tr. 5-20-15-2.

Highlighted Intercepts:

• G2_CH087_LW: 8.0m@ 0.12% Cu, 0.54% Pb and 0.73% Zn from 0.0m, including 1.0m@ 0.39%

Cu, 2.75% Pb and 3.71% Zn from 6.0m.

• G2_CH088_RW: 4.0m@ 0.13% Cu, 0.94% Pb and 0.93% Zn from 4.0m, including 1.0m@ 0.32%

Cu, 2.81% Pb and 3.05% Zn from 5.0m.

• G2_CH089_LW: 12.0m@ 0.20% Cu, 1.85% Pb and 1.68% Zn from 49.0m, including 6.0m@ 0.31%

Cu, 2.88% Pb and 2.57% Zn from 52.0m.

• G2_CH090_LW: 4.0m@ 0.17% Cu, 1.81% Pb and 1.54% Zn from 0.0m, including 3.0m@ 0.20%

Cu, 2.09% Pb and 1.67% Zn from 1.0m.

• G2_CH091_RW: 12.0m@ 0.13% Cu, 1.04% Pb and 1.09% Zn from 49.0m, including 2.0m@ 0.26%

Cu, 1.78% Pb and 1.94% Zn from 49.0m, including 2.0m@ 0.23% Cu, 1.57% Pb and 1.88% Zn

from 54.0m, including 2.0m@ 0.18% Cu, 1.34% Pb and 1.41% Zn from 59.0m.

• G2_CH092_RW: 2.0m@ 0.54% Pb and 0.47% Zn from 0.0m.

Exploration in Adit (Direction) D.21-2 Target

The D.21-2 target is in the northern part of gallery G2 and 2,350 metres from the entrance heading

right. Approximately 3,000 metres were channelled and 117 samples taken. See Figure 5-10. True

widths are estimated to be between 80-90% or reported widths.

Highlighted Intercepts:

• G2_CH093_RW: 8.0m@ 0.55% Cu, 1.36% Pb and 1.35% Zn from 780.0m, including 2.0m@ 1.32%

Cu, 2.45% Pb and 1.94% Zn from 786.0m.

• G2_CH095_RW: 3.0m@ 0.18% Cu, 1.24% Pb and 1.26% Zn from 831.0m, including 1.0m@ 0.34%

Cu, 2.61% Pb and 2.45% Zn from 832.0m.

• G2_CH097_RW: 2.0m@ 0.18% Cu, 1.71% Pb and 3.08% Zn from 863.0m, including 1.0m@ 0.23%

Cu, 2.44% Pb and 5.38% Zn from 863.0m.

• G2_CH098_LW: 3.0m@ 0.33% Cu, 3.08% Pb and 3.16% Zn from 978.0m, including 2.0m@ 0.47%

Cu, 4.36% Pb and 4.46% Zn from 979.0m.

• G2_CH099_RW: 4.0m@ 0.23% Cu, 2.10% Pb and 2.05% Zn from 980.0m, including 1.0m@ 0.41%

Cu, 3.36% Pb and 2.57% Zn from 980.0m.

• G2_CH100_RW: 2.0m@ 0.30% Cu, 2.12% Pb and 3.40% Zn from 72.0m, including 1.0m@ 0.55%

Cu, 3.78% Pb and 6.37% Zn from 72.0m.

• G2_CH103_LW: 6.0m@ 0.61% Cu, 4.12% Pb and 3.00% Zn from 102.0m, including 3.0m@ 1.12%

Cu, 7.89% Pb and 5.68% Zn from 104.0m.

• G2_CH104_RW: 7.0m@ 0.17% Cu, 1.64% Pb and 1.46% Zn from 102.0m, including 1.0m@ 0.42%

Cu, 5.41% Pb and 3.77% Zn from 102.0m.

• G2_CH105_RW: 8.0m@ 0.91% Cu, 6.01% Pb and 5.28% Zn from 8.0m, including 7.0m@ 1.03%

Cu, 6.65% Pb and 5.98% Zn from 8.0m.

• G2_CH106_RW: 8.0m@ 0.13% Cu, 0.88% Pb and 0.88% Zn from 1.0m, including 2.0m@ 0.16%

Cu, 1.72% Pb and 1.71% Zn from 2.0m.

• G2_CH107_LW: 2.0m@ 1.01% Cu, 5.40% Pb and 4.68% Zn from 80.0m, including 1.0m@ 1.90%

Cu, 10.45% Pb and 9.05% Zn from 81.0m.

• G2_CH108_RW: 4.0m@ 0.33% Cu, 1.92% Pb and 1.33% Zn from 79.0m, including 1.0m@ 1.04%

Cu, 5.06% Pb and 3.80% Zn from 82.0m.

• G2_CH109_RW: 2.0m@ 0.48% Cu, 2.52% Pb and 2.51% Zn from 1.0m, including 2.0m@ 0.23%

Cu, 1.17% Pb and 1.31% Zn from 5.0m.

• G2_CH110_LW: 3.0m@ 0.16% Cu, 1.09% Pb and 0.91% Zn from 58.0m, including 1.0m@ 0.29%

Cu, 1.78% Pb and 1.70% Zn from 59.0m.

Polymetallic Zones of Interest

The licence area hosts extensive, structurally -controlled lead -zinc mineralisation, with associated

copper, localized along fault zones as observed in underground galleries. Faults and fractures are

believed to act as the primary conduits for hydrothermal fluids, concentra ting base metal sulphides -

galena (lead sulphide), sphalerite (zinc sulphide) and chalcopyrite (copper sulphide) - within silicified and

brecciated zones benefited with enhanced permeability making these structures prime sites for metal

deposition.

D.14-2: Extensive Pb-Zn-Cu mineralisation on Left and Right Walls associated with silica alteration along

a NNW-SSE strike, remaining open along strike, down-dip and extending towards the SW.

Tr.5-20-15-2: Extensive Pb-Zn-Cu mineralisation associated with silica alteration along a NNW-SSE strike.

Presence of an earlier dyke that intersects the system has possibly caused structural displacement of

the mineralisation. The system remains open along strike and down-dip, extending towards the SW.

Tr.35-21-2 and Tr.33-21-2: the mineralisation observed in this area appears to be controlled by several

faults with variable dip, extending toward the SW and NE. Mineralisation has been confirmed along

faults with a NW-SE strike length of approximately 90 metres and possible widths of up to two metres.

The system remains open in all directions.

2025 Fieldwork Summary

The main objective was to define a large-scale zone of mineralisation. Programmes were designed to

build on previous work in gallery G7, where extensive Co -Ni-Au mineralisation was identified in late

2023, transitioning to gallery G2, which had shown potential for extensive Zn-Pb-Cu-Ag mineralisation.

Supported by four geologists who joined LEM in January 2025, work programmes included substantial

underground mapping, channel sampling, limited diamond drilling, core logging, and some limited

underground geophysics.

Face mapping and channel sampling were carried out over significant lengths in gallery G2. Channel

samples were taken using an electric angle grinder along the wall of the gallery, and typically

perpendicular to the vein where possible. Channels were 5-10 cm in thickness and approximately 5 cm

in depth.

110 channels for some 586 metres were completed, and 720 samples were taken (582 primary and 138

QC samples) with 43 channels returning positive Pb -Zn-Cu mineralisation. In addition, 21 holes for

approximately 576 metres were drilled, in G2 and G7, with 443 samples produced (354 primary and 89

QC samples). All samples were sent for analysis to ALS laboratories in Rosia Montana (Romania) and ALS

Loughrea (Ireland).

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