LEADING EDGE MATERIALS APPOINTS KURT BUDGE AS CHIEF EXECUTIVE OFFICER

Vancouver, May 19, 2024 – Leading Edge Materials Corp. ("Leading Edge Materials" or the "Company") (TSXV: LEM) (Nasdaq First North: LEMSE) (OTCQB: LEMIF) (FRA: 7FL) is pleased to announce the appointment of Mr. Kurt Budge as Chief Executive Officer.

Chairman Lars-Eric Johansson noted:

"The Board is very happy to welcome Kurt to the Company in the role as Chief Executive Officer given his considerable experience leading junior mining companies and especially his knowledge of working in Sweden.

The Rare Earth Elements at Norra Kärr makes the project an obvious candidate as a Strategic Project as defined by the EU Critical Raw Materials Act and the Company is focused on applying for this designation. The Exploitation Concession application and environmental work for Norra Kärr are also key priorities.

The Company has other Strategic Raw Materials in its portfolio, Natural Graphite at the established mine at Woxna in Sweden and high-grade Nickel and Cobalt at its Bihor Sud exploration project in Romania.

Each part of the business has real potential for significant value creation, with European politics adding momentum, and the Board is optimistic about the progress that can be made in the short term under Kurt's leadership."

Kurt Budge has 30 years' experience in the mining sector, from major to junior companies, in operations and corporate roles, private equity and investment research. His most recent role was as CEO of Beowulf Mining plc, having joined the Company in September 2014 and left in May 2023. Kurt has worked in Sweden for 8.5 years, during which time he delivered the Exploitation Concession and Pre-feasibility Study for the Kallak Iron Ore Project. He is also experienced in Nordic graphite, battery value chains, and Eastern European exploration campaigns. Kurt read Mining Engineering at The Royal School of Mines, Imperial College London and has an MBA from London Business School.

Kurt Budge commented:

"I am very excited about joining Leading Edge Materials. As the European Union seeks security of supply of critical raw materials and supports the establishment of new mines on the continent, the Company's assets in Sweden and Romania are incredibly well positioned."

The Board of Directors,
Leading Edge Materials Corp.

For further information, please contact the Company at:
info@leadingedgematerials.com

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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).

Additional Information

The information was submitted for publication through the agency of the contact person set out above, on May 19, 2024, at 11:00 pm 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.

Reader Advisory

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.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release.

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