VANCOUVER, Oct. 4, 2019 /CNW/ - Leading Edge Materials
Corp. ("Leading Edge Materials" or the "Company") (TSXV: LEM)
(OTCQB: LEMIF) (Nasdaq First North: LEMSE) is pleased to advise
of the submission of the Company's first Exploration License
application to the Agenţia Natională pentru Resurse Minerale
("NAMR").
The application covers the same area as the Bihor Sud
Prospecting Permit (see Press Release dated 6th November 2018) in western Romania (Figure 1), and was applied for by LEM
Resources SRL ("LEM Resources"). LEM Resources is a Joint
Venture company where Leading Edge Materials has the right to earn
90% ownership by achieving various project milestones.
The Bihor Sud Exploration License application is for a 5-year
license covering 25 square kilometers in the Northern Apuseni
Mountains of Transylvania. Bihor Sud lies within the Western
Tethyan Metallogenic Belt, a well-mineralized district that
includes the Timok copper-gold project along with the Skouries,
Chelopech, Bor and Majdanpek deposits. The Northern Apuseni
Mountains are famous for high grade skarn and carbonate replacement
mineralization with historic production of Cu, Mo, Ag, Au, Zn, U
and Pb associated with Tethyan Arc intrusions. The area under
application includes a substantial former mine that was closed in
1998.
Mr. Mark Saxon, Interim CEO
stated, "Leading Edge Materials have been active in Romania for a number of years, and through our
work have put ourselves in the strongest possible position to be
granted the Exploration License within the coming weeks. We
look forward to sharing details of the application process and
timelines over coming weeks."
Application for an Exploration License in
Romania is via a competitive
tender, following on from public advertising of a pending area for
bid. In the current tender round, twenty-one Exploration
Licenses were available for bid including the Bihor Sud license.
The tender process is adjudicated on the basis of technical
and financial merit, with substantial credit given to the work
completed under the prior Prospecting Permit. Leading Edge
Materials, via subsidiary LEM Resources, is the only company to
have held a Prospecting Permit over the entire Exploration License
application area. Leading Edge Materials will be advised in
the coming week of the presence of competing bids, and the timeline
to being notified of whether granting is successful.
On behalf of the Board of Directors, Leading Edge
Materials Corp.
Mr. Mark
Saxon, Interim CEO
About Leading Edge Materials
Leading Edge Materials is a Canadian public
company focused on production of high value critical raw materials
for the European market. LEM's assets and research focus are
towards the raw materials for Li-ion batteries, high thermal
efficiency and materials that improve the efficiency of energy
generation. Investments are linked to the global shift to
low-carbon energy generation and energy storage.
Additional Information
The information was submitted for publication
through the agency of the contact person set out above, at
4th of October 2019 at
8:00 am Vancouver time.
Leading Edge Materials is listed on the TSXV
under the symbol "LEM" and Nasdaq First North Stockholm under the
symbol "LEMSE". Mangold Fondkommission AB is the Company's CA
on Nasdaq First North and may be contacted at +46 (0) 8 5030
1550.
Reader Advisory
This news release may contain
statements which constitute "forward-looking
information", including statements regarding the 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 statements. Investors are cautioned that any
such forward-looking statements are not guarantees of
future business activities and involve risks
and uncertainties, and that the
Company's future business activities may differ
materially from those in the forward-looking
statements 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.
SOURCE Leading Edge Materials