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LEADING EDGE MATERIALS LEADING EDGE MATERIALS CORP . 1305-1090 West Georgia Street , Vancouver , BC , V6E 3V7 info@leadingedgematerials.com | www.leadingedgematerials.com TSX.V : LEM | Nasdaq First North : LEMSE | OTCQB : LEMIF | FRA : 7FL NEWS RELEASE September 27 , 2021 LEADING EDGE MATERIALS REPORTS QUARTERLY RESULTS TO JULY 31 , 2021 Vancouver , September 27 , 2021 - Leading Edge Materials Corp. ( " Leading Edge Materials " or the " Company " ) ( TSXV : LEM ) ( Nasdaq First North : LEMSE ) ( OTCQB : LEMIF ) ( FRA : 7FL ) announces third quarter results for the period ending July 31 , 2021. All references to dollar amounts in this release are in Canadian dollars unless otherwise specified . Highlights During and After the Quarter During the three months ended July 31 , 2021 , the Company : . • • • . • On May 5 , 2021 , the Mining Inspectorate of Sweden decided to reject the mining lease application for the Norra Karr project . The Company subsequently appealed this decision to the Government of Sweden . The Company announced on June 9 , 2021 , positive preliminary economic assessment results for its Woxna graphite anode project with US $ 317 / US $ 248 million pre / post - tax NPV and 42.9 % / 37.4 % pre / post - tax IRR . On June 21 , 2021 , the Company announced preliminary life cycle assessment results on the Woxna Graphite project demonstrating potential 90 % lower carbon footprint compared with currently dominating Chinese supply alternatives for the production of graphite anode materials . On July 22 , 2021 , the Company announced positive preliminary economic assessment results for its Norra Karr REE project with pre- and post - tax Net Present Value ( NPV ) of $ 1,026M and $ 762M using a 10 % discount rate and pre- and post - tax Internal Rate of Return ( IRR ) of 30.8 % and 26.3 % . The Company filed the technical report entitled " NI 43-101 Technical Report - Woxna Graphite " prepared for Woxna Graphite AB with effective date June 9 , 2021 and issue date July 23 , 2021 , available on Leading Edge's website www.leadingedgematerials.com and under its SEDAR profile www.sedar.ca . The company changed the name of its Swedish subsidiary owning the Norra Karr HREE project from Tasman Metals AB to GREENNA Mineral AB . The Company's dormant Finnish subsidiary ACP Akku Oy was dissolved . Subsequent to July 31 , 2021 , the Company : • The Company filed the technical report titled " PRELIMINARY ECONOMIC ASSESSMENT OF NORRA KARR RARE EARTH DEPOSIT AND POTENTIAL BY - PRODUCTS , SWEDEN " prepared for Leading Edge Materials Corp. with effective date August 18 , 2021 and issue date August 19 , 2021 , available on Leading Edge's website www.leadingedgematerials.com and under its SEDAR profile www.sedar.ca .