Libra Secures 100% Ownership of SBC Lithium Project in Ontario Following KoBold Payment

Toronto, Ontario--(Newsfile Corp. - June 8, 2026) - Libra Energy Materials Inc. (CSE: LIBR) (OTCQB: LIBRF) (FSE: W0R0) ("Libra" or the "Company") is pleased to announce that KoBold Metals Company ("KoBold") has made the final option payment to Bounty Gold Corp. (the "Vendor"), the original vendor of the SBC lithium project in Ontario, thereby providing Libra with a 100% interest in the SBC project.

The SBC project, together with Libra's Flanders North and Flanders South projects in Ontario (collectively, the "Kobra Projects"), are being explored under a KoBold-funded, CAD $33 million earn-in agreement ("EIA"), aimed at unlocking the potential of these critical mineral projects by leveraging KoBold's artificial intelligence and machine learning technologies alongside Libra's proven exploration expertise.

"With this payment, every project in our portfolio is now 100% owned by Libra, with no third-party option payments remaining. We thank KoBold for their continued support and interest in the SBC project. SBC, in my view, represents one of the most underrated early-stage lithium projects in Canada, with spodumene-rich outcrops extending over a >13 kilometre trend, high-grade grab samples up to 6.64% Li2O, and proximity to key infrastructure¹," said Koby Kushner, CEO of Libra Energy Materials. "We believe the SBC area represents a new spodumene belt, and we remind shareholders that our nearby Toivo project, which is not subject to the EIA, straddles the same geological subprovince boundary as SBC, yet remains unexplored to date. Libra is preparing a 2026 work program to get initial 'boots-on-the-ground' at Toivo, subject to ongoing consultations."

Figure 1. Map of the SBC project showing surrounding projects, regional greenstone belts, subprovince boundaries, and the spodumene occurrences discovered in 2023 and 2024 within the property. Mineralization on nearby or adjacent projects is not necessarily indicative of mineralization at SBC or Toivo.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9331/300414_2c9e00ed64df7b2c_002 ...

About the SBC Project

Spanning 15,670 hectares, SBC represents a new lithium district abundant with spodumene-bearing pegmatite outcrops. Located south of Pickle Lake, a historic mining town equipped with board accommodation and an airport, SBC boasts easy access via paved highway and proximity to rail. The initial 2024 spodumene discovery at SBC earned Libra the Bernie Schnieders Discovery of the Year Award (see the Company's press release dated April 16, 2025). In 2025, a comprehensive program that included geophysical surveys, prospecting, and mapping was carried out by KoBold and further upgraded the project through the discovery of additional spodumene-bearing outcrops (see the Company's press release dated January 22, 2026).

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