Lomiko Metals Declares Closing of Move-By way of Personal Placement and Replace on Regional Graphite Exploration and Bourier Lithium Challenge

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MONTREAL / Jul 21, 2022 / Enterprise Wire / Lomiko Metals Inc. (TSX.V: LMR) (“Lomiko Metals” or the “Firm”) declares the Firm has acquired conditional approval and can apply to the TSX Enterprise Trade (the “Trade”) to shut its non-brokered personal placement (the “Personal Placement”) of 9,765,400 flow-through items (the “FT Items”) at a worth of $0.065 per FT Unit for mixture gross proceeds of $634,751.

Every FT Unit consists of 1 widespread share that can qualify as a “flow-through share” inside the which means of the Revenue Tax Act (Canada) and the Taxation Act (Québec) and one-half (1/2) of a standard share buy warrant (a “Warrant”) with every complete Warrant exercisable at a worth of $0.10 per share for a interval of two years following closing.

Topic to regulatory approval, the Firm can pay a money finder’s charges of $31,737.55 and problem 580,182 finder warrants (the “Finder’s Warrants”) to 3 events. Every Finder’s Warrant is non-transferable and exercisable at a worth of $0.10 per share for a interval of two years following closing.

Pursuant to relevant Canadian securities legal guidelines, all securities issued pursuant to this personal placement are topic to a maintain interval of 4 months and someday. The personal placement stays topic to the ultimate approval of the TSX Enterprise Trade.

The Firm intends to make use of the gross proceeds of the personal placement to incur Canadian Exploration Bills and “flow-through mining expenditures” as outlined within the Revenue Tax Act (Canada) and the Taxation Act (Québec) on the Firm’s Laurentides regional graphite exploration program and the Bourier Lithium property, which will likely be incurred on or earlier than December 31, 2023, and renounced with an efficient date no later than December 31, 2022 to the preliminary purchasers of FT Items in an mixture quantity not lower than the gross proceeds from the sale of the FT Items.

CEO and Director Belinda Labatte commented: “We’re happy to safe Move-By way of Financing and making use of the brand new important minerals Move By way of credit score on this financing which is pending additional particulars and {qualifications} of the brand new credit score introduced within the 2022 price range. The Essential Minerals Exploration Tax Credit score (CMETC) is a brand new tax credit score proposed in price range 2022 on April 7, 2022. The 30% tax credit score can be relevant to eligible bills within the exploration of important minerals in Canada aligned with the federal government’s new important mineral technique. The introduced important mineral technique and tax credit score is essential and straight aligned with our ongoing regional technique to develop the pure flake graphite claims and to advance our Bourier lithium exploration program. At La Loutre we proceed to advance our diamond drill program within the EV Zone, environmental baseline research and metallurgical research proceed. This program will replicate industrial processing and purification steps to guage the efficiency of the La Loutre flake graphite in battery anode purposes.

Regional Graphite Exploration Program within the Grenville Province

Lomiko has initiated helicopter-borne geophysical surveys on its six regional graphite properties for the aim of information acquisition aiming to establish areas of potential graphite mineralization for future discipline follow-up. This system will cowl roughly 14,255 hectares of mineral claims, and 236 claims in complete. These new claims lie inside a 100 km radius of the Firm’s flagship La Loutre graphite and have been beforehand introduced on Might 16, 2022. With this work, the Firm goals to establish close to floor conductors which is able to assist information the sphere work sooner or later and additional outline the regional prospectivity for pure flake graphite. Please check with Determine 1 for particulars.

Bourier Exploration Replace

As well as, on the Firm’s Bourier prospect, Lomiko and Essential Components Lithium Company (Operator) have commenced the 2022 discipline exploration program. The sphere program is anticipated to final 4 weeks. The lithium-tantalum-cesium anomalies are of explicit curiosity as a result of they symbolize an unprecedented discovery within the Bourier declare. This anomaly spans alongside a 2.5 km lengthy NE-trending mica-rich white pegmatites system. Structural interpretation by GoldSpot recommend this lithium-tantalum-cesium pattern might prolong to the Lemare Li displaying. Please check with Determine 2 for particulars.

About Lomiko Metals Inc.

Lomiko Metals has a brand new imaginative and prescient and a brand new technique in new power. Lomiko represents an organization with a goal: a people-first firm the place we will manifest a world of plentiful renewable power with Canadian and Quebec important minerals for an answer in North America. Our purpose is to create a brand new power future in Canada the place we are going to develop the important minerals workforce, turn out to be a valued companion and neighbour with the communities through which we function, and supply a safe and responsibly sourced provide of important minerals. Lomiko is ECOLOGO licensed.

The Firm holds a 100% curiosity in its La Loutre graphite improvement in southern Quebec. The La Loutre mission website is positioned inside the Kitigan Zibi Anishinabeg (KZA) First Nations territory. The KZA First Nations are a part of the Algonquin Nation and the KZA territory is located inside the Outaouais and Laurentides areas.​ Situated 180 kilometres northwest of Montreal, the property consists of 1 massive, steady block with 76 minerals claims totaling 4,528 hectares (45.3 km2). Lomiko Metals revealed a Preliminary Financial Evaluation (“PEA”) on September 10, 2021 which indicated the mission had a 15-year mine life producing per yr 100,000 tonnes of the graphite focus at 95percentCg or a complete of 1.5Mt of the graphite focus. This report was ready as Nationwide Instrument 43-101 Technical Report for Lomiko Metals Inc. by Ausenco Engineering Canada Inc., Hemmera Envirochem Inc., Moose Mountain Technical Providers, and Metpro Administration Inc., collectively the Report Authors. The Bourier mission website is positioned close to Nemaska Lithium and Essential Components south-east of the Eeyou Istchee James Bay territory in Quebec which consists of 203 claims, for a complete floor place of 10,252.20 hectares (102.52 km2), in Canada’s lithium triangle close to the James Bay area of Quebec that has traditionally housed lithium deposits and mineralization developments.

Mr. Mike Petrina, Challenge Supervisor, a Certified Particular person (“QP”) underneath Nationwide Instrument 43-101 – Requirements of Disclosure for Mineral Initiatives, has reviewed and authorized the technical disclosure on this information launch.

For extra data on Lomiko Metals, evaluation the web site at www.lomiko.com, contact Belinda Labatte at 647-402-8379 or e-mail: This e-mail tackle is being protected against spambots. You want JavaScript enabled to view it..

Cautionary Word Concerning Ahead-Trying Data

This information launch comprises “forward-looking data” inside the which means of the relevant Canadian securities laws that’s primarily based on expectations, estimates, projections and interpretations as on the date of this information launch. The knowledge on this information launch in regards to the Firm; and every other data herein that isn’t a historic reality could also be “forward-looking data” (“FLI”). All statements, aside from statements of historic reality, are FLI and might be recognized by means of statements that embody phrases corresponding to “anticipates”, “plans”, “continues”, “estimates”, “expects”, “might”, “will”, “initiatives”, “predicts”, “proposes”, “potential”, “goal”, “implement”, “scheduled”, “intends”, “may”, “would possibly”, “ought to”, “consider” and comparable phrases or expressions. FLI on this new launch contains, however will not be restricted to: the Firm’s goal to turn out to be a accountable provider of important minerals, exploration of the Firm’s initiatives, together with anticipated prices of exploration and timing to attain sure milestones, together with passable completion of due diligence and talent to achieve an settlement with third occasion homeowners in reference to projected acquisitions, timing for completion of exploration packages; the Firm’s capacity to efficiently fund, or stay totally funded for the implementation of its enterprise technique and for exploration of any of its initiatives (together with from the capital markets); any anticipated impacts of COVID-19 on the Firm’s enterprise targets or initiatives, the Firm’s monetary place or operations, and the anticipated timing of bulletins on this regard. FLI entails identified and unknown dangers, assumptions and different components which will trigger precise outcomes or efficiency to vary materially. This FLI displays the Firm’s present views about future occasions, and whereas thought-about cheap by the Firm presently, are inherently topic to vital uncertainties and contingencies. Accordingly, there might be no certainty that they’ll precisely mirror precise outcomes. Assumptions upon which such FLI is predicated embody, with out limitation: potential of future acquisitions presently evaluated by the Firm; present marketplace for important minerals; present technological developments; the enterprise relationship between the Firm, native communities and its enterprise companions; capacity to implement its enterprise technique and to fund, discover, advance and develop every of its initiatives, together with outcomes therefrom and timing thereof; the flexibility to function in a protected and efficient method; uncertainties associated to receiving and sustaining exploration, environmental and different permits or approvals in Quebec; any unexpected impacts of COVID-19; affect of accelerating competitors within the mineral exploration enterprise, together with the Firm’s aggressive place within the trade; normal financial circumstances, together with in relation to foreign money controls and rate of interest fluctuations.

The FLI contained on this information launch are expressly certified of their entirety by this cautionary assertion, the “Ahead-Trying Statements” part contained within the Firm’s most up-to-date administration’s dialogue and evaluation (MD&A), which is offered on SEDAR at www.sedar.com, and on the investor presentation on its web site. All FLI on this information launch are made as of the date of this information launch. There might be no assurance that such statements will show to be correct, as precise outcomes and future occasions may differ materially from these anticipated in such statements. Accordingly, readers mustn’t place undue reliance on forward-looking data. The Firm doesn’t undertake to replace or revise any such forward-looking statements or forward-looking data contained herein to mirror new occasions or circumstances, besides as could also be required by relevant securities legal guidelines.

Neither the TSX Enterprise Trade nor its Regulation Providers Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Trade) accepts accountability for the adequacy or accuracy of this information launch. No inventory alternate, securities fee or different regulatory authority has authorized or disapproved the data contained herein.

On behalf of the Board,
Belinda Labatte
CEO and Director, Lomiko Metals Inc.


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