Libra Energy Materials Enhances Growth Strategy with New Advisors, Updates Exploration Programs, and OTC U.S. Market Access

Rhea-AI Summary

Libra Energy Materials (OTC: PWMCF) announced corporate and exploration updates on October 16, 2025, including an acquisition follow-up, an OTCQB listing application, advisory board appointments, and progress across Brazil, Quebec, and Ontario projects.

• Advisors: Dr. Jeremie Pfister and Daniel Buhler added to Advisory Board.
• OTCQB: Application submitted; listing expected in the coming weeks.
• Brazil: Post-acquisition reconnaissance at Borborema; fall-winter mobilization including Penelope, Amparo, Lajes Pintadas.
• Quebec: Maiden prospecting at 100% Nemiscau and Wegucci with large pegmatite targets.
• Ontario: 2025 season complete under a $33M KoBold earn-in; 413 samples collected; some SBC work paused pending stakeholder engagement.

Positive

• Completed Brion Minerals acquisition and Borborema reconnaissance
• Applied for OTCQB to improve U.S. investor access and liquidity
• Collected 413 samples across Ontario projects under the $33M KoBold earn-in
• Preparing maiden prospecting at 100% owned Nemiscau and Wegucci pegmatite targets

Negative

• KoBold paused Libra's role as exploration contractor per earn-in terms
• Field activities at SBC paused pending engagement with nearby land users

Toronto, Ontario--(Newsfile Corp. - October 16, 2025) - Libra Energy Materials Inc. (CSE: LIBR) (FSE: W0R0) ("Libra" or the "Company") is pleased to provide a corporate update highlighting recent advancements across its lithium exploration portfolio in Brazil, Quebec, and Ontario, and well as key corporate initiatives, include the addition of new expertise to its Advisory Board, application for listing on the OTCQB Venture Market ("OTCQB"), and progress within its investment portfolio.

• Appointment of New Advisors to Advisory Board: Libra has strengthened its Advisory Board with the addition of Dr. Jeremie Pfister and Daniel Buhler. Dr. Pfister, a distinguished lithium and rare metal pegmatite expert, holds a PhD in pegmatite ore deposit geology from Laurentian University and a BSc in Geology with a minor in mining engineering from the University of Arizona. Previously, he served as Exploration Manager at Targa Exploration, leading successful lithium targeting and discovery programs across Canada. Daniel Buhler, a finance executive with extensive experience in metals, mining, and energy markets, is President of Platico SA and Director at Materium. He also works with Hyndland Partners, a cross-border M&A advisory firm, and has held corporate development and transaction roles across commodity-linked businesses, including with Vitol's Vivo Energy. Their combined expertise will enhance Libra's lithium exploration and strategic growth initiatives.

• Application for OTCQB Listing: Libra has applied for listing on the OTCQB Venture Market, a middle-tier U.S. based marketplace operated by OTC Markets Group for early-stage and developing U.S. and international companies. The Company believes this listing will provide better access to U.S.-based investors and improved liquidity for its shares. Libra expects the listing to be finalized in the coming weeks.

• Progress in Brazil Following Brion Minerals Acquisition: Since closing the acquisition of Brion Minerals Ltd. (see press release dated September 30, 2025), Libra has completed a reconnaissance site visit to the Borborema lithium projects. The Company is now mobilizing for a fall-winter exploration program, which will include work at the Penelope project in Minas Gerais, as well as follow-up activities at the Amparo and Lajes Pintadas projects in Borborema. The program will also encompass prospecting at several additional targets not currently owned by Libra but under evaluation as part of the Company's acquisition strategy.

• Maiden Prospecting Program in Quebec: Libra is preparing to mobilize for its inaugural fall prospecting program across its Quebec portfolio. This will involve initial boots-on-the-ground exploration at the 100%-owned Nemiscau and Wegucci projects, where large pegmatite targets have been identified through satellite imagery, with potential exposed widths of up to 50-100 meters. The program may extend to visits at other projects not currently owned by Libra but under consideration for potential acquisitions. Nemiscau has been held by the Company since 2023, and Wegucci is a newly staked target along the same subprovince boundary that hosts major spodumene-bearing pegmatites such as Whabouchi. Both Nemiscau and Wegucci are located in Quebec's James Bay region, which host some of the largest spodumene projects in the Americas, including Shaakichiuwaanaan and Cisco. Further details on these projects will be released in due course.

• Completion of 2025 Ontario Field Season Under KoBold Earn-In Agreement: The 2025 field season across Libra's Ontario projects has concluded, including activities at the Flanders North, Flanders South, and Soules Bay-Caron ("SBC") projects, which are subject to the $33 million earn-in agreement ("Earn-In Agreement") with KoBold Metals (see press releases dated December 2, 2024, announcing the agreement, and July 21, 2025, announcing the program kick-off). Libra and KoBold collected a total of 413 samples from several previously known and newly discovered lithium-bearing pegmatites across the three projects. Results will be announced following KoBold's review and analysis of the full assay suite. In accordance with the Earn-In Agreement, KoBold has temporarily paused Libra's role as Exploration Contractor, with activities expected to resume for the next field season. While consultation with relevant stakeholders continues, KoBold and Libra have paused field activities at SBC until engagement with applicable nearby land users is completed. Libra continues to collaborate with KoBold on exploration planning, data interpretation, and First Nations engagement for these earn-in projects and looks forward to anticipated collaboration going forward.

• Advancements at Athena Gold: Libra's portfolio company, Athena Gold Corporation (CSE: ATHA), has made significant strides over the past year, including redomiciling to Canada (see press release dated April 16, 2025), defining geochemical and geophysical anomalies at its Laird Lake project in Ontario (see press releases dated September 4, 2025, and September 11, 2025), and optioning the Excelsior Springs project in Nevada that is now being drilled (see press releases dated August 22, 2025 and October 7, 2025). Athena plans to commence drilling at Laird Lake this winter. Libra currently holds 43,865,217 common shares of Athena Gold Corporation.

Qualified Person and Third-Party Data

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) (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$33 million earn-in deal with KoBold Metals Company. In addition, Libra has 100% ownership over another four lithium projects in Ontario and Quebec, Canada, as well as another twenty-one lithium projects, eight graphite projects, and one cobalt project 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 the Company at:

Koby Kushner, P.Eng., CFA
Chief Executive Officer, Libra Energy Materials Inc.
e: kkushner@libraenergymaterials.com
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 including, without limitation, statements relating to the assets of the Company, the Company's exploration programs, temporary suspension of the Company as exploration contractor under the Earn-In Agreement, the appointment of new advisors to the Company and the expected benefits thereof. 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 reasonable, undue reliance should not be placed on the forward‐looking statements and information 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 the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward‐looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Accordingly, readers should not place undue reliance on the forward‐looking statements and information contained in this news release. Readers are cautioned that the foregoing general disclosure is not exhaustive nor should it be construed as such. The forward‐looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward‐looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/270634

FAQ

What does Libra's OTCQB application mean for PWMCF shareholders?

The company expects the OTCQB listing to provide better access to U.S. investors and improved liquidity once finalized.

How many samples did Libra and KoBold collect in the 2025 Ontario field season (PWMCF)?

Libra and KoBold collected a total of 413 samples from lithium-bearing pegmatites across three Ontario projects.

What projects will Libra (PWMCF) explore this fall-winter in Brazil after the Brion Minerals acquisition?

The program will mobilize to the Penelope project in Minas Gerais and follow up at Amparo and Lajes Pintadas in Borborema.

What are the targets for Libra's maiden Quebec prospecting program (PWMCF)?

Initial boots-on-the-ground work will focus on 100% owned Nemiscau and Wegucci where large pegmatite targets were identified by satellite imagery.

How does the KoBold earn-in affect Libra's (PWMCF) operations?

Under the $33M earn-in, KoBold temporarily paused Libra's contractor role while KoBold reviews assays and stakeholder engagement continues.

How many Athena Gold shares does Libra hold and what is the near-term plan?

Libra holds 43,865,217 Athena Gold shares; Athena plans to begin drilling at Laird Lake this winter.