Leading Edge Materials: Rapid Development Plan for Norra Kärr

Leading Edge Materials Corp. (TSXV: LEM) (Nasdaq First North: LEMSE) (OTCQB: LEMIF) is working on a Rapid Development Plan (RDP) for its Norra Kärr Heavy Rare Earth Elements (HREE) Project in Sweden. The company aims to fast-track the development of the project to meet Europe's urgent demand for HREEs, as highlighted by the U.S. President's stance on Greenland's resources and Ukraine's rare earth elements. The Norra Kärr project is strategically important to Europe's REE supply chain, given the region's dependence on China for HREEs.

The RDP involves separating extraction from downstream processing, streamlining operations at Norra Kärr, and producing two high-value products: a HREE magnetic concentrate and nepheline syenite, an industrial mineral previously explored at Norra Kärr by Boliden in the 1970s. The company is committed to accelerating progress, engaging key stakeholders, and exploring all avenues to bring Norra Kärr into production as swiftly as possible.



The company is closely watching the EU's decision on Strategic Project status for Norra Kärr, which would set a clear 27-month permitting timeline and facilitate access to finance. In the second quarter of 2025, the company plans to commence Pre-feasibility Study (PFS) work for the upstream and downstream, evaluating the business case for the RDP. The company expects a decision on its application for a new 25-year mining lease later in 2025.

Leading Edge Materials is also conducting testwork on nepheline syenite and aegirine to determine their mineralogy, chemical composition, and leachate chemistry. This work will support further assessment of the market opportunities for these materials and the potential environmental impact of any waste materials. The company has started discussions with nepheline syenite market participants to identify attractive market segments, volumes, and pricing, investigating higher value markets such as functional filler products with comparable prices ranging from US$100 to US$500 per tonne.

As part of the PFS, the company will evaluate the business case for a Rapid Development Plan, whereby Norra Kärr can be in production in the shortest possible timeframe. This would involve supplying REE concentrates to the market in advance of the completion of the downstream processing facility and selling nepheline syenite. This approach would generate cash flow and enable earlier delivery of REE concentrates onto the European market.

The Norra Kärr project is strategically important to Europe's REE supply chain, given the current geopolitical tensions and the region's dependence on China for HREEs. The U.S. President's stance on Greenland's resources and Ukraine's rare earth elements highlights the global competition and strategic importance of these materials. Norra Kärr, as one of the few advanced-stage REE projects in Europe, has the potential to contribute to Europe's security of supply for decades, as stated by the European Rare Earths Competency Network (ERECON) in 2014. The European Raw Materials Alliance (ERMA) also identified Norra Kärr as a project that could make a significant contribution to the EU's needs by 2030. The Critical Raw Materials Act (CRMA) further emphasizes the importance of securing a sustainable and resilient supply chain for critical raw materials, including REEs.

In conclusion, Leading Edge Materials' Rapid Development Plan for the Norra Kärr HREE Project is a strategic move to address Europe's urgent demand for HREEs and reduce its dependence on a single source. The company's commitment to accelerating progress and engaging key stakeholders positions Norra Kärr as a critical component in Europe's REE supply chain.