Mr. Koby Kushner reports

LIBRA CLOSES STRATEGIC INSTITUTIONAL FINANCING LED BY SIDEX AND NQ MINING INVESTMENT

Libra Energy Materials Inc. has closed its previously announced strategic private placement of CMETC (critical mineral exploration tax credit) flow-through common shares for aggregate gross proceeds of $725,000. The offering was led by Quebec-based institutional investors Sidex Limited Partnership and NQ Mining Investment (NQMI). See the company's news release dated Sept. 25, 2026, for further details.

Pursuant to the offering, the company issued five million CMETC shares at a price of 14.5 cents per CMETC share.

"With the closing of this strategic financing led by Sidex and NQ Mining Investment and last week's offering, Libra is now fully funded to deliver our next catalysts at Cisco West and Obamska. Together, these two financings have institutionalized our story with long-term, savvy investors who understand the opportunity in James Bay," said Koby Kushner, chief executive officer of Libra.

"Sidex is pleased to support Libra's grassroots initiatives in Quebec. Cisco West and Obamska are strategically located in Eeyou Istchee James Bay, a region with excellent mineral potential for large-scale lithium-bearing pegmatite deposits," said Andre Laferriere, investment manager of Sidex.

"NQMI is proud to support Libra and its Cisco West and Obamska projects, which have the potential to create synergies with other mining initiatives in the Matagami area and generate meaningful economic benefits for the region," said Sylvain Lepine, general manager of NQ Mining Investment.

The gross proceeds will be used to incur Canadian exploration expenses that qualify as flow-through mining expenditures under the Income Tax Act (Canada) on the company's Quebec projects, including the newly acquired flagship Cisco West and Obamska projects in the Eeyou Istchee James Bay region. The company will renounce these expenditures to subscribers with an effective date no later than Dec. 31, 2026. The CMETC shares also qualify for the government of Canada's critical mineral exploration tax credit.

In connection with the offering, the company paid a cash finder's fee of $29,000 to Eskar Capital Corp., an arm's-length finder. All securities issued under the offering are subject to a statutory hold period expiring on Jan. 30, 2027, in accordance with applicable Canadian securities laws. No insiders of the company participated in the offering. The offering remains subject to the final acceptance of the Canadian Securities Exchange.

Total financing completed

With the closing of the offering, Libra has raised aggregate gross proceeds of $2,610,399.95 through two financings completed in September, 2026. On Sept. 24, 2026, the company closed the second and final tranche of its upsized non-brokered private placement under the listed issuer financing exemption (the LIFE offering), which raised gross proceeds of $1,885,399.95 through the issuance of 14,844,000 non-flow-through common shares at a price of 10 cents per share (for $1,484,400) and 3,084,615 CMETC flow-through common shares at a price of 13 cents per share (for $400,999.95). Together with the five million CMETC shares issued today at 14.5 cents per share, Libra has issued a total of 22,928,615 common shares across both financings.

About Libra Energy Materials Inc.

Libra is a Canadian mineral exploration company focused on the discovery and development of the critical minerals necessary for the green energy transition. Libra's flagship Canadian projects include the recently optioned Cisco West and Obamska lithium projects in Quebec, located adjacent to Q2 Metals' Cisco deposit, the largest hard-rock lithium deposit in the Western Hemisphere. Libra's Flanders North, Flanders South and SBC lithium projects in Ontario are being explored under a $33-million earn-in deal with KoBold Metals Company. In addition, Libra holds a broader portfolio of battery metals projects across Canada and Brazil. 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.

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