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Libra Energy Materials Inc. reports developments tied to its critical-minerals exploration portfolio, with recurring updates on lithium, rare earth element, graphite and cobalt project activity in Canada and Brazil. Company news includes field-program results, surface sampling, pegmatite mapping, auger drilling, geochemical reviews and project prioritization across assets such as the Kobra, Nemiscau, Wegucci and Penelope projects.
Libra's updates also cover non-dilutive exploration funding, its earn-in arrangement with KoBold Metals on Ontario lithium projects, industry conference participation, advisory board changes, capital-structure disclosures, governance matters and operating and financial results.
Libra Energy Materials (CSE: LIBR, OTCQB: LIBRF) announced that it remains a significant shareholder of Athena Gold and congratulated Athena on a new high-grade gold discovery at the Laird Lake project in Ontario’s Red Lake district, known as the Scooby Zone.
According to Libra, Athena reported a discovery hole of 23.85 g/t Au over 5 metres from 21 metres downhole, including 62.9 g/t Au and 54.1 g/t Au over separate 1‑metre intervals, with the zone remaining open and mineralization intersected in a ~400‑metre vertical step-out. Libra holds over 4.4 million Athena shares, representing more than 12% of Athena’s outstanding common shares. The technical content was reviewed by Libra’s Qualified Person, Dr. Jérémie Pfister, P.Geo., and is based on Athena’s August 19, 2026 disclosure.
Libra Energy Materials (CSE: LIBR, OTCQB: LIBRF) entered into an option agreement dated August 11, 2026 to acquire a 100% interest in the Cisco West and Obamska lithium projects in the Eeyou Istchee James Bay region of Québec. Cisco West (19,788 ha) is contiguous with and partially surrounded by Q2 Metals’ Cisco lithium project and covers about 45 km of the Nottaway Deformation Zone, while Obamska (9,779 ha) hosts large outcropping LCT pegmatites with low K/Rb and K/Cs ratios.
Libra can earn its interest via $300,000 in staged cash payments, issuance of 8,823,529 common shares over three years, and granting a 2% NSR royalty, with an option to buy back 1% per project for $2,000,000. A one-time $2,000,000 milestone may become payable per property if a qualifying mineral resource (≥50 Mt at 1.0% Li₂O) is filed. The transaction is subject to Canadian Securities Exchange approvals, and Libra plans near-term field programs including mapping, sampling, and target prioritization on both projects.
Libra Energy Materials (CSE: LIBR, OTCQB: LIBRF, FSE: W0R0) appointed Farid Mammadov, CPIR as Vice President, Investor Relations, effective immediately. Mammadov brings over five years of junior mining investor relations, marketing and communications experience, most recently as VP, Investor Relations at New Age Metals, and holds a CPIR designation and a B.A. in Business Law with a minor in Economics.
Libra is a Canadian mineral exploration company focused on critical minerals for the green energy transition. Its 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, alongside additional projects in Canada and Brazil.
Libra Energy (OTCQB: LIBRF) appointed Ty Minnick, CPA as Chief Financial Officer, effective immediately. Minnick is an experienced mining-sector CFO, with roles at Augusta Gold, Titan Mining and Athena Gold.
Outgoing CFO Carlo Rigillo will remain with Libra Energy as a consultant to support a smooth transition.
Libra Energy (OTCQB: LIBRF) appointed Dr. Jérémie Pfister as Vice President of Exploration, effective immediately. Pfister is a pegmatite and hard-rock lithium specialist with a PhD from Laurentian University and experience across Canada, Brazil, Suriname and the US.
Outgoing VP Ben Kuzmich remains as Technical Advisor, supporting Canadian exploration.
Libra Energy Materials (OTCQB: LIBRF) reported initial auger drill assays from its 100%-owned Penelope rare earths project in Minas Gerais, Brazil. Six of the first seven shallow holes returned near-surface mineralization, including up to 2.0 m at 2,033 ppm TREO and gallium grades to 45 g/t.
Intervals within 20 m of surface show 854–1,193 ppm TREO with 20–24.4% magnet rare earth oxides (MREO). Libra also staked an additional 14,604 hectares of prospective ground and plans leach tests, potential shallow RC drilling, and a strategic review to find a partner or acquirer for Penelope.
Libra (OTCQB: LIBRF) will participate in the 3rd Annual Bermuda Capital Event, hosted by Capital Event Management in Hamilton, Bermuda, from June 12-14, 2026.
The event connects small-cap companies with more than 60 active investors through one-to-one meetings, with a focus on mining and technology sectors.
Libra Energy Materials (OTCQB: LIBRF) now holds a 100% interest in the SBC lithium project in Ontario after KoBold Metals made the final option payment to the original vendor. SBC and the Flanders North and South projects form the KoBold-funded, CAD $33 million Kobra Projects earn-in agreement.
According to Libra, SBC hosts spodumene-rich outcrops over a >13 km trend with grab samples up to 6.64% Li2O. Libra also plans a 2026 field program at the nearby, unexplored Toivo project, which is outside the earn-in agreement.
Libra Energy (OTCQB: LIBRF) reported maiden drill results from its 100%-owned Stimson project in Ontario. Hole ST26-001 intersected 4.7% graphitic carbon over 14.7 metres within graphitic metasediments, including up to 10.45% Cg, and 0.52% zinc over 18 metres.
The discovery confirms a graphite-bearing system near existing infrastructure. Libra plans surface work, data compilation, and may seek a partner, while maintaining its primary focus on lithium exploration in Canada and Brazil.
Libra Energy Materials (OTCQB: LIBRF) has been awarded CAD $200,000 in non-dilutive grant funding from the Ontario government via the Ontario Junior Exploration Program (OJEP) on April 7, 2026. The funding is intended to offset grassroots mineral exploration costs.
Libra plans to deploy the grant during its 2026 field season to advance lithium and critical energy materials exploration while preserving its tight capital structure.