Toronto, Ontario--(Newsfile Corp. - August 7, 2025) - Libra Energy Materials Inc. (CSE: LIBR) (FSE: W0R0) ("Libra" or the "Company") is pleased to announce the execution of a Second Amending Agreement (the "Amendment") to its Earn-In Agreement ("EIA") with KoBold Exploration Canada Inc. ("KoBold"), dated November 13, 2024, and previously amended on February 12, 2025. This amendment refines the terms of the agreement to streamline exploration efforts at the Flanders North project in Ontario, Canada, ensuring Libra's ability to maintain broader exposure over the Flanders North project area.
The Amendment updates the schedules of the EIA to reflect the reacquisition of certain previously lapsed mining claims within the Flanders North project area, ensuring the project's footprint remains robust and focused. Additionally, it introduces a streamlined process for future schedule updates, allowing both parties to efficiently adapt to project developments through mutual consent. This increased flexibility allows both companies to quickly manage land acquisitions without losing momentum on the exploration front.
"This amendment strengthens our agreement with KoBold by sharpening the project's scope and enhancing our ability to execute efficiently," said Koby Kushner, CEO of Libra Energy Materials. "We continue to work closely with KoBold as we wrap up the first phase of exploration on the Flanders North, Flanders South, and SBC projects."
As outlined in prior press releases (December 2, 2024, and February 20, 2025), the EIA enables KoBold to earn interests in the Flanders North, Flanders South, and SBC projects through staged project-level investments while allowing Libra to retain significant upside through equity stakes, milestone payments, and royalties.
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$33M earn-in deal with KoBold Metals Company. In addition, Libra has 100% ownership over its Toivo project in Ontario, adjacent to SBC, and its Nemiscau and Wegucci projects in Quebec, Canada. 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.
About KoBold Metals Company
KoBold Metals Company is a US-based exploration and mining company that combines expertise in geosciences with artificial intelligence, machine learning, and data science to improve and accelerate the exploration process in search for the critical minerals necessary for the global energy transition.
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 or future performance. 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/261617
SOURCE: Libra Energy Materials Inc.
