Leading Edge Materials Corp.

Heavy Rare Earth Global Crisis Spotlights Norra Kärr in Sweden

VANCOUVER, British Columbia, Dec. 01, 2025 (GLOBE NEWSWIRE) -- Leading Edge Materials Corp. (“Leading Edge Materials” or the “Company”) (TSXV: LEM) (Nasdaq First North: LEMSE) (OTCQB: LEMIF) (FRA: 7FL) provides a progress update on the Norra Kärr Heavy Rare Earth Elements Project (“HREE”) being developed by the Company’s wholly-owned Swedish subsidiary Greenna Mineral AB.

Heavy Rare Earths Crisis

The drastic shortage of heavy rare earth elements - particularly Dysprosium and Terbium – was highlighted in a Reuters article titled ‘West scrambles to fill heavy rare earth gap as China rivalry deepens’, published on 19 November (https://www.reuters.com/sustainability/climate-energy/west-scrambles-fill-heavy-rare-earth-gap-china-rivalry-deepens-2025-11-19/).

The article underscored the critical supply chain vulnerability that Europe has failed to address for more than a decade, and this message was strengthened by comments from the CEO of Vaccumschmelze, Europe’s principal manufacturer of permanent magnets, when he spoke at Raw Materials Week in Brussels.

The urgency is not new. In 2014, the European Rare Earths Competency Network (ERECON) warned that "the development of new sources of heavy rare earths outside of China and greater recycling must remain an urgent priority for Europe."

Their report on strengthening the European rare earths supply chain specifically identified Norra Kärr as one of two "best known" advanced-stage REE projects in Europe that could secure European supply for decades. Back in 2014, they projected that, with permitting and adequate funding, mining could begin before 2020. These factors still challenge European projects more than a decade later.

Norra Kärr’s Strategic Positioning

When it comes to Norra Kärr, the deposit’s strategic importance to Europe has never been clearer. The Swedish Geological Survey (“SGU”) discovered Norra Kärr in the 1900s and, in 2011, designated it as being of National Interest due to the significance of its rare earth elements (“REEs”) for Sweden and Europe.

More recently, with the respect to the Company’s application for a mining lease, SGU in its capacity as an expert authority for issues relating to geology and minerals in Sweden has stated that the deposit at Norra Kärr is very important for Sweden's and the EU's supply of rare earth metals, and that Norra Kärr is one of Europe's richest deposits for these minerals – especially with regard to heavy rare earth elements.

Norra Kärr is estimated to produce 248 tonnes of Dysprosium and 36 tonnes of Terbium oxides annually over an initial 26-year mine life - covering only 30% of the currently defined resource, which remains open for expansion. As a comparison, on 25 October, Australian company Lynas Rare Earths (“Lynas”) announced plans for an expanded heavy rare earths separation facility in Malaysia, with nameplate capacity of 250 tonnes of Dysprosium and 50 tonnes of Terbium oxides (https://wcsecure.weblink.com.au/pdf/LYC/03015215.pdf).

Lynas, along with MP Materials (“MP”) are the most significant players in the rare earths market outside of China. Lynas is expected to be a beneficiary of the USD 8.5 billion U.S.-Australia Rare Earth Deal signed on 20 October 2025 and has already benefited from Australian Government grant funding in recent years. The U.S. Government has invested in MP, becoming the company’s largest shareholder through the purchase of USD 400 million in preferred stock in July this year and the Department of War has extended a USD 150 million loan to support the expansion of MP’s rare earth separation capabilities. These public market-making instruments from governments directly supporting their critical mineral strategies have unlocked private capital, including USD 1 billion in commercial debt from JPMorgan Chase and Goldman Sachs.

Mining Lease Application

The Company anticipates that a decision from the Mining Inspectorate will be forthcoming in the near future. Supplementary information to the Company’s application for an Exploitation Concession – 25-year mining lease (Sw. Bearbetningskoncession) - for Norra Kärr was submitted in September and circulated by the Mining Inspectorate (Sw. Bergsstaten) to the County Administrative Boards (“CABs”) of Jönköping and Östergötland for further review in October.

Pre-Feasibility Study (“PFS”) Workstreams

A programme of testwork is continuing with SGS Lakefield in Canada focused on mineral processing, comminution, magnetic separation and mineral liberation; activities to take place at Norra Kärr. The work is intended to produce higher grade concentrates of eudialyte, containing the HREEs, for further hydrometallurgy testwork, and nepheline syenite for analysis and possibly further treatment to produce prospective customer samples. Separately, a marketing assessment is being completed for nepheline syenite.

SRK’s Qualified Person has conducted a site visit at Norra Kärr, inspected outcrop on site and some of the drill core in archive. A work programme is underway with the objective of upgrading the Inferred Mineral Resource Estimate (“MRE”) effective date 18 August 2021. The Inferred classification was determined because, at the time, only preliminary work had been completed on the potential of industrial minerals production. However, in respect of the REEs, a Probable Mineral Reserve totaling 23.5 Mt at 0.59% Total Rare Earth Oxides (“TREO”) was reported in the NI 43-101 - Technical report effective date 13 January 2015. This MRE forms the basis of the current mine plan.

Stakeholder Engagement

Greenna Mineral has opened a Project Café in central Gränna. The café serves as a meeting place where the local community and stakeholders can see company representatives, ask questions, and receive information about the Norra Kärr project.

With sustainability at the heart, the Greenna Mineral team is enthusiastic to explain the new project design, especially the 65% reduction in Norra Kärr’s operational footprint, thanks to the elimination of chemical processing from site which eliminates any perceived threat to Lake Vättern. Activities now focus on mineral extraction and processing, which in nature are similar to that of a quarry; reduced complexity means limited environmental impact and increased commercial potential, as Greenna Mineral seeks to become a heavy rare earth elements and industrial minerals producer.

The Project Café is intended to promote transparency and open dialogue regarding the continuous development of Norra Kärr. Dates and opening hours will be available shortly.

Kurt Budge CEO comments:

“The stakes have never been clearer. This Autumn brought crucial conversations across Europe—from Kokkola Material Week to Raw Materials Week in Brussels and SveMin's Autumn Summit in Stockholm. The message was unmistakable: geopolitics isn't just shaping the critical raw materials agenda—it's defining it. Military tensions, economic warfare, and cyber threats are real drivers behind Europe's urgent push for increased rare earth supply chain independence.

The supply of primary heavy rare earth elements—the lifeblood of permanent magnet manufacturing—is desperate. Yet the same barriers persist, with permitting paralysis and capital constraints continuing to impede the progress that’s needed to build resilience in Europe.

Norra Kärr’s significance has never been more self-evident when you compare it to Lynas' nameplate capacity for Dysprosium and Terbium oxides production in Malaysia. If Europe is serious about regional heavy rare earth production, then putting Norra Kärr into production isn't optional, it is essential.”

On behalf of the Board of Directors,
Leading Edge Materials Corp.

Kurt Budge, CEO

For further information, please contact the Company at:
info@leadingedgematerials.com
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 lithium-ion batteries and permanent magnets for electric motors, wind turbines and defense applications. The portfolio of projects includes the 100% owned Woxna Graphite mine (Sweden), 100% owned Norra Kärr Heavy Rare Earth Elements 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 November 30, 2025, at 11:30 PM 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”. Svensk Kapitalmarknadsgranskning (“SKMG”) is the Company’s Certified Adviser for the Nasdaq First North Growth Market (Stockholm) and may be contacted via email ca@skmg.se or by phone +46 (0)8 913 008.

Reader Advisory

This news release may contain statements which constitute “forward-looking information”, including statements regarding the 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 statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities and involve risks and uncertainties, and that the Company’s future business activities may differ materially from those in the forward-looking statements as a result of various factors, including, but not limited to, fluctuations in market prices, changes in the Company’s intended use of proceeds from the Private Placement, successes of the operations of the Company, continued availability of capital and financing and general economic, market or business conditions. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release.

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• 20251130 PR Norra Kärr Update FINAL