Vancouver, March 31, 2022 – Leading Edge Materials Corp. (“Leading Edge Materials” or the “Company”) (TSXV: LEM) (Nasdaq First North: LEMSE) (OTCQB: LEMIF) (FRA: 7FL) has been informed that the Court of Appeal in Sundsvall has denied leave to appeal against the extension of the Company’s Norra Karr nr 1 exploration license (the “Exploration License”). This decision means the Exploration License remains in force until August 31, 2025.
In June 2020, the Company received confirmation that the Exploration License underlying the mining lease application for Norra Karr received an extension from the Swedish Mining Inspectorate (“Bergsstaten”) to August 31, 2024. Subsequently the Swedish parliament passed legislation to mitigate the impacts of COVID-19 by giving exploration companies an additional year to carry out their work which extended the Norra Karr exploration license to August 31, 2025.
The extension of the Exploration License was appealed, and the administrative court of Lulea rejected the appeal in March 2021, upon which the case was appealed to the Court of Appeal in Sundsvall which has since been evaluating whether to grant leave to appeal.
Filip Kozlowski, CEO of the Company states: “We have again successfully defended our exclusive tenure over the Norra Karr exploration license. The Exploration License has routinely been appealed by the opposition groups and their legal counsel creating uncertainty for both the Company and local stakeholders extending timelines around the Norra Karr rare earth element project. Importantly, the Exploration License is not directly related to the permitting work for future mining operations. Rather it enables the Company to investigate the deposit and surrounding environment with the objective to acquire information and build up a better knowledge of the project for the benefit of everyone having an interest in the project.”
On behalf of the Board of Directors,
Leading Edge Materials Corp.
Filip Kozlowski, CEO
For further information, please contact the Company at:
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 batteries for electromobility and energy storage and permanent magnets for electric motors and wind power that underpin the clean energy transition towards climate neutrality. The portfolio of projects includes the 100% owned Woxna Graphite mine (Sweden), Norra Karr HREE project (Sweden) and the 51% owned Bihor Sud Nickel Cobalt exploration alliance (Romania).
The information was submitted for publication through the agency of the contact person set out above, on March 31, 2022, at 4:15 am 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”. Mangold Fondkommission AB is the Company’s Certified Adviser on Nasdaq First North and may be contacted via email CA@mangold.se or by phone +46 (0) 8 5030 1550.
This news release may contain statements which constitute “forward-looking information” under applicable Canadian securities laws, including statements regarding 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 information. Investors are cautioned that any such forward-looking information is not a guarantee of future business activities and involves risks and uncertainties, and that the Company’s future business activities may differ materially from those in the forward-looking information as a result of various factors, including, but not limited to, fluctuations in market prices, 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.
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