Libra Energy Announces Graphite Discovery at Stimson Project in Ontario - Drills 4.7% Graphitic Carbon over 14.7 Metres
Libra Energy Announces Graphite Discovery
at Stimson Project in Ontario - Drills 4.7%
Graphitic Carbon over 14.7 Metres
Toronto, Ontario--(Newsfile Corp. - May 13, 2026) - Libra Energy Materials Inc. (CSE: LIBR) (OTCQB:
LIBRF) (FSE: W0R0) ("
Libra
" or the "
Company
") is pleased to announce assay results from its maiden
diamond drilling program at its 100%-owned Stimson project, located approximately 26 km east of
Cochrane, Ontario. Although the single-hole program was designed to test a historical possible
spodumene occurrence (see Company press release dated
February 2, 2026
), drill hole
ST26-001
intersected a significant zone of graphitic mineralization, hosted within a graphitic metasedimentary unit.
Highlights
4.7% Cg over 14.7 m
intersected in hole ST26-001 (175.32 metres - 190 metres), including
samples up to
10.45% Cg
(179.0 metres - 179.43 metres)
Confirms a graphite-bearing system at Stimson; warrants follow-up evaluation of flake size, extent,
and scale
Additional broad zones of zinc mineralization, returning
0.52% Zn over 18 m
(159 metres - 177
metres) coincident with the graphite mineralization
Excellent infrastructure advantage: only 26 km east of Cochrane, with road access and proximity to
rail, power, and established mining services
Figure 1: Photos of drill core from Hole ST26-001.
To view an enhanced version of this graphic, please visit:
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"The results from our maiden drill program at Stimson were unexpected in the best possible way.
While the hole did not return spodumene as anticipated, it delivered a compelling graphite intercept.
We are only one hole into this system, yet the thickness and grade already compare favourably to
many early-stage graphite discoveries in the Superior Craton.
This provides significant upside
potential for the Company,
"
commented Koby Kushner, CEO of Libra.
"Graphite remains secondary to
our primary lithium strategy, but the discovery meaningfully enhances the value of Stimson. With
excellent infrastructure and strong community support, we believe the asset is highly attractive for
potential partners. Meanwhile, we continue to advance our large portfolio and look forward to drill
results from our Penelope project in Brazil next (see Company press release dated
March 16, 2026
)."
Stimson Drilling Overview
The 2026 winter program at Stimson consisted of a single diamond drill hole (ST26-001), totalling 203
metres. The hole was designed as a follow-up to historic Noranda Exploration hole PT94-11 (1994),
which had intersected pegmatite dykes previously interpreted as possibly spodumene-bearing. While
the pegmatites encountered in ST26-001 were confirmed to be barren of significant lithium (values
ranging from 3 to 116 ppm Li across 84 samples), the hole intersected a meaningful zone of graphite
mineralization within the surrounding graphitic metasedimentary package. This unexpected result opens
a new commodity vector on the property.
Figure 2: Cross-section through Hole ST26-001.
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Graphite Results
The reported graphitic interval represents a weighted-average grade calculated from continuous
sampling across a partially healed fault zone in graphitic metasediments. Carbon assays were obtained
using ALS Geochemistry method C-IR18 (graphitic carbon by induction furnace following HCl leach and
roasting to remove carbonate and organic carbon). A summary of carbon assay statistics for hole ST26-
001 is provided below:
Element
No. of
Samples
Mean
Median
Min.
Max.
Carbon (%)
115
1.95
0.63
0.01
10.45
Many drill holes completed historically by Noranda on the property are also recorded as having
intersected graphitic metasedimentary units (Assessment Record 42H02SE0010), suggesting that
graphite-bearing horizons may extend across multiple claims and represent a regionally developed
feature warranting systematic exploration.
Follow Up Plans (Next Steps)
Following the encouraging results from ST26-001, Libra is evaluating the Stimson project as a
polymetallic exploration opportunity. Proposed next steps include:
A surface prospecting program to refine the geological model and trace graphitic horizons along
strike
Re-logging and review of historical drill holes that intersected graphitic metasedimentary units
Compilation of geophysical and geochemical data across the southern claim block to define drill-
ready targets for graphite, base metals, and precious metals
No additional drilling is planned at this time by Libra is planned at Stimson. The Company may provide
updates as surface work and data compilation progress and may consider seeking a partner to advance
the project while Libra maintains its primary focus on lithium exploration in Canada and Brazil.
Quality Assurance / Quality Control
Drill core was logged and sampled at Bayside Geoscience's facility in Thunder Bay, Ontario. A total of
160 samples (151 rock samples and 9 standards) were submitted to ALS Geochemistry's preparation
lab in Thunder Bay and analyzed at ALS's Vancouver laboratory, an ISO/IEC 17025 accredited facility
independent of the Company. Gold was determined by 30 g fire assay with AAS finish (Au-AA23),
graphitic carbon by HCl leach, roast and induction furnace IR detection (C-IR18), and lithium and trace
elements by sodium peroxide fusion ICP-MS (ME-MS89L). Certified reference materials, blanks and
field duplicates were inserted into the sample stream and reviewed for performance prior to release of
results.
True widths of the reported interval are not yet known and will be refined following structural
interpretation. Reported intervals are core lengths.
Qualified Person
The scientific and technical information in this news release has been reviewed and approved by
Benjamin Kuzmich, P.Geo., VP Exploration of Libra. Ben Kuzmich is a "qualified person" as defined in
National Instrument 43-101 -
Standards of Disclosure for Mineral Projects
.
About Libra Energy Materials Inc.
Libra (CSE: LIBR) (OTCQB: LIBRF) (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 lithium projects in Ontario are being explored under a
CAD $33 million earn-in deal with KoBold Metals Company. In addition, Libra has 100% ownership of
another four critical mineral projects in Ontario and Quebec, Canada, as well as another thirty projects in
Brazil - an emerging critical minerals hub. 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.
For more information, please contact Libra Energy Materials Inc.:
Koby Kushner, P.Eng., CFA
Chief Executive Officer and Director
Email:
Telephone: 416-846-6164
LinkedIn:
@LibraEnergyMaterialsInc.
Instagram:
@libraenergymaterials
"X":
@LibraEnergyMats
Forward-Looking Information
This news release contains forward-looking statements and forward-looking information within the
meaning of applicable securities laws. Such statements relate to future events and include, without
limitation, statements regarding Libra's exploration programs, prospecting and exploration activities,
geological, geophysical and geochemical surveys, interpretations of historical and current exploration
data, permitting and licensing, environmental regulations, community engagement, timing of exploration
activities, reliance on third parties, and other risks associated with the natural resources industry. All
statements other than historical facts are forward-looking statements.
These forward-looking statements are based on assumptions and expectations considered reasonable
by management at the time they were made; however, no assurance can be given that such expectations
will prove correct. Forward-looking statements involve known and unknown risks, uncertainties, and other
factors that may cause actual results to differ materially from those anticipated. Accordingly, readers
should not place undue reliance on such statements.
The forward-looking statements contained in this news release are made as of the date hereof, and the
Company undertakes no obligation to update or revise them, except as required by applicable securities
laws. Readers are cautioned that the foregoing list of factors is not exhaustive.
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of
the CSE) accepts responsibility for the adequacy or accuracy of this release.
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