Lomiko Metals Closes $634,751 FT Personal Placement

July 26, 2022

1

Lomiko Metals TSXV: LMR, OTC: LMRMF (Graphic: Business Wire)

Lomiko Metals TSXV: LMR, OTC: LMRMF (Graphic: Enterprise Wire)

Belinda Labatte replaces A. Paul Gill, who will stay Government Chair of the Board; she additionally joins as Director of Board. Mr. Gill will proceed to be concerned in advancing the present portfolio of property with further new administrators to be appointed on the annual common assembly of shareholders. He may also proceed to supervise the ultimate phases of finishing the ECOLOGO third social gathering certification course of, which reinforces Lomiko’s dedication to moral practices as endorsed by the Quebec Mineral Exploration Affiliation (QMEA). Vince Osbourne replaces Jacqueline Michael as Chief Monetary Officer and Director, who will resign her place as CFO and Director and proceed within the position of Controller for Lomiko, reporting to Vince Osbourne. Additionally resigning as director is Mike Petrina who will stay with Lomiko in an operational capability, as Challenge Supervisor for the La Loutre challenge.

“I’m proud to welcome our new administration staff and new administrators to Lomiko,” mentioned Paul Gill, Government Chair of the Board. “The chance to construct a brand new firm with a wider scope and long-term imaginative and prescient is now. Lomiko is in an ideal place to learn shareholders and contribute to creating new companies in Quebec that may create jobs and prosperity whereas being dedicated to environmental and group stewardship. Our staff is devoted to assembly these challenges and to working to construct a greater future for all Canadians.”

As well as, Eric Levy is appointed as impartial director. Mr. Levy is senior associate on the regulation agency of Osler, Hoskin & Harcourt LLP and is acknowledged as a number one Canadian lawyer in company M&A transactions and securities regulation. Mr. Levy will lead the board renewal course of with Mr. Paul Gill to make sure a extremely various board that shares within the imaginative and prescient of constructing a brand new vitality firm.

Ms. Labatte, Mr. Osbourne, and Ms. Slepcev are extremely regarded professionals of their subject and symbolize a staff of leaders committing to a brand new imaginative and prescient and new technique for the Firm beginning in Quebec the place group engagement is a precedence. Crucial minerals of curiosity embrace graphite, lithium, REE, PGMs and others which might be deemed important and under-supplied for our new vitality and know-how future. Lomiko is seeking to play a major position in Canada’s decarbonization path and the necessity to safe your entire North American electrical car provide chain with crucial minerals and processing know-how, which is able to allow 2º Celsius discount in Greenhouse Fuel Emissions (GHG) emission by 2040 and net-zero by 2050.

Belinda Labatte, Chief Government Officer, mentioned: “I thank Paul Gill, his staff and the Board of Administrators for the chance to construct Lomiko right into a excessive progress, dynamic and fashionable crucial minerals firm with an skilled, energetic and motivated staff. We begin with a superb platform that Mr. Gill and his staff have constructed as we transfer ahead with our plans for a people-first method to the event of crucial minerals. We’re taking steps to extend worth and de-risk of the La Loutre graphite challenge and evolving from a excessive potential Preliminary Financial Evaluation (“PEA”) challenge to an expanded challenge within the PFS stage. Our plans for La Loutre embrace a carbon-neutral mine plan, enhanced drilling in excessive potential zones, and a metallurgical testing program, amongst different priorities. We additionally plan to comply with up on a really encouraging geophysical survey program at our lithium exploration challenge, Bourier, in Quebec, that was performed mid-2021. We’ll start to drill take a look at the anomalies as a part of a renewed exploration focus at Bourier.”

Ms. Labatte continued, “We’re additionally actively reviewing different alternatives for portfolio progress in Quebec and North America the place group engagement might be a precedence. Our shared values of respect, private efficiency, integrity and ingenuity are on the forefront. Our staff has intensive expertise in rising companies giant and small, in mine development and operations, and a deep understanding and respect for long-term relationship constructing and entrepreneurial help wanted within the communities the place we function. We’re excited to construct the profile of the crucial minerals provide chain in Canada, share data and be part of the brand new vitality transition employment alternatives forward by making use of motion oriented Setting, Social and Governance (“ESG”) practices in all areas of the enterprise.”

Profile of recent management staff

Incoming CEO Belinda Labatte, CFA, MBA, ICD.D, has greater than 15 years of senior administration expertise in mining and the extractive business, and 20 years of capital markets expertise, together with a decade of strategic improvement, capital markets funding banking expertise, stakeholder engagement, and asset acquisition and disposition processes. Her most up-to-date place was Chief Growth Officer of Mandalay Assets Corp. Previous to that, Ms. Labatte was the founder and President of her personal Firm, The Capital Lab Inc., a number one Toronto-based consulting agency. Ms. Labatte is fluent in French, Spanish and German and graduated from the Rotman College of Administration with an MBA. She holds the ICD.D designation and is CFA charterholder.

Incoming COO Gordana Slepcev, M.Sc.P. Eng, is a Skilled Mining Engineer with greater than 25 years of worldwide mining expertise in creating, constructing and main protected mining operations. Ms. Slepcev’s intensive expertise spans a number of commodities, together with gold, base metals, coal and industrial minerals. She brings appreciable expertise in mineral exploration, allowing, company and regulatory/First Nations/ Indigenous relations, and challenge financing to Lomiko. Earlier than becoming a member of the Firm, Ms. Slepcev held the place of COO for BMSI, a privately held firm, the place she was chargeable for restarting the barite reprocessing facility, mitigating historic environmental impacts and overseeing EPCM contractors. She additionally previously held the position of COO of Anaconda Mining, the place she was chargeable for the corporate’s operations and improvement of the Goldboro challenge. Ms. Slepcev graduated from the College of Belgrade with a M.Sc.

Incoming CFO Vince Osbourne, CMA, CBV, is a senior finance and valuation skilled with over 19 years of expertise in all areas of economic administration and enterprise partnering inside the retail business. In his former place, he held the position of Actual Property finance enterprise associate for Sobeys, contributing to vital worth creation by way of the Actual Property portfolio and strategic partnerships. Vince Osbourne graduated from York College with a BA in Economics.

Impartial director Eric Levy has over 20 years of expertise advising on advanced points regarding securities and governance issues. He’s Head of Osler’s Montreal Company Group and in addition serves on the Osler, Hoskin & Harcourt Partnership Board.

As well as, Lomiko is forming an advisory board to administration to help with the expansion of the corporate. Normand Champigny, CEO and Director of Quebec Treasured Metals Company has been appointed to this group.

The Firm will grant 3,850,000 inventory choices to the newly appointed management staff and impartial director. These inventory choices have an train value of $0.12 per share, are exercisable over 5 years, and are topic to vesting necessities. Incoming CEO Belinda Labatte receives 1,400,000 inventory choices; 800,000 inventory choices for incoming COO Gordana Slepcev and 800,000 inventory choices for incoming CFO Vince Osbourne. Newly appointed impartial director Eric Levy will obtain 500,000 inventory choices and newly appointed advisor Normand Champigny will obtain 350,000 inventory choices. Inventory choices have been granted in accordance with the Firm’s present inventory choice plan.

About Lomiko Metals Inc.

Lomiko Metals holds a 100% curiosity in its La Loutre graphite improvement in southern Quebec. Positioned 180 kilometres northwest of Montreal, the property consists of 1 giant, steady block with 42 minerals claims totaling 2,509 hectares (25.1km ² ). Lomiko printed a Preliminary Financial Evaluation (“PEA”) on September 10, 2021 which indicated the challenge had a 15 12 months mine life, US$406/tonne price, common graphite mill head grade of seven.44% Cg for the primary eight years; Lifetime of Mine (LOM) common graphite mill head grade of 6.67% Cg, common LOM restoration of 93.5% Cg, measured and indicated useful resource on the base case cut-off grade of 1.5% Cg of 23,165 kt at a 4.51% Cg grade for 1.04 Mt of graphite, inferred useful resource on the base case cut-off grade of 1.5% Cg of 46,821 kt at a 4.01% Cg grade for 1.89Mt of graphite. 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 corporate additionally has an curiosity within the Bourier challenge which consists of 203 claims, for a complete floor place of 10,252.20 hectares (102.52 km ² ), in Canada’s lithium triangle close to the James Bay area of Quebec that has traditionally housed lithium deposits and mineralization traits.

Mr. Mike Petrina, Challenge Supervisor, a Certified Individual beneath Nationwide Instrument 43-101 – Requirements of Disclosure for Mineral Initiatives , has reviewed and permitted the technical disclosure on this information launch.

For extra info on Lomiko Metals, assessment the web site at www.lomiko.com , contact Belinda Labatte at 647-402-8379 or e-mail: data@lomiko.com .

Cautionary Be aware Concerning Ahead-Trying Data

This information launch comprises “forward-looking info” inside the which means of the relevant Canadian securities laws that’s based mostly on expectations, estimates, projections and interpretations as on the date of this information launch. The knowledge on this information launch in regards to the Company; and another info herein that’s not a historic reality could also be “forward-looking info” (“FLI”). All statements, apart from statements of historic reality, are FLI and might be recognized by way of statements that embrace phrases reminiscent of “anticipates”, “plans”, “continues”, “estimates”, “expects”, “could”, “will”, “initiatives”, “predicts”, “proposes”, “potential”, “goal”, “implement”, “scheduled”, “intends”, “may”, “would possibly”, “ought to”, “imagine” and related phrases or expressions. FLI on this new launch consists of, however shouldn’t be restricted to: the Company’s goal to change into a accountable provider of crucial minerals, exploration of the Company’s initiatives, together with anticipated prices of exploration and timing to attain sure milestones, together with timing for completion of exploration applications; the Company’s means to efficiently fund, or stay absolutely 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 Company’s enterprise aims or initiatives, the Company’s monetary place or operations, and the anticipated timing of bulletins on this regard. FLI includes recognized and unknown dangers, assumptions and different elements that will trigger precise outcomes or efficiency to vary materially. This FLI displays the Company’s present views about future occasions, and whereas thought of cheap by the Company at the moment, are inherently topic to vital uncertainties and contingencies. Accordingly, there might be no certainty that they are going to precisely mirror precise outcomes. Assumptions upon which such FLI is predicated embrace, with out limitation: present marketplace for crucial minerals; present technological traits; the enterprise relationship between the Company and its enterprise companions; means to implement its enterprise technique and to fund, discover, advance and develop every of its initiatives, together with outcomes therefrom and timing thereof; the power 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; influence of accelerating competitors within the mineral exploration enterprise, together with the Company’s aggressive place within the business; common financial situations, together with in relation to forex controls and rate of interest fluctuations;

The Company’s precise outcomes, applications and monetary place may differ materially from these anticipated in such FLI because of quite a few elements, dangers and uncertainties, lots of that are past the Company’s management. These embrace, however aren’t restricted to: the marketplace for crucial minerals; the evolution of provide and demand for crucial minerals; the Company’s initiatives might not be explored or developed as deliberate; uncertainty regarding potential cost-overruns in implementing its enterprise technique and creating its initiatives; market costs affecting improvement of the initiatives; the provision and skill to safe enough financing and on beneficial phrases; incapability to acquire required governmental permits; any limitations on operations imposed by governments within the jurisdictions the place we function; know-how threat; incapability to attain and handle anticipated progress; political threat related to international operations; modifications in authorities rules, together with forex controls; modifications in environmental necessities; failure to acquire or preserve mandatory licenses, permits or approvals; dangers related to COVID-19; insurance coverage threat; litigation threat; receipt and safety of mineral property titles and mineral tenure threat; modifications in challenge parameters; uncertainties related to estimating mineral assets and mineral reserves sooner or later, together with uncertainties relating to assumptions underlying such estimates; whether or not mineral assets (if any) will ever be transformed into mineral reserves; opposition to exploration and/or improvement of the initiatives; floor entry threat; geological, technical, drilling or processing issues; well being and security dangers; unanticipated outcomes; unpredictable climate; unanticipated delays; discount in demand for minerals; mental property dangers; dependency on key personnel; workforce and tools availability; forex and rate of interest fluctuations; and volatility usually market and business situations.

Though the Company has tried to establish vital elements that might trigger precise outcomes to vary materially from these contained in forward-looking info, there could also be different elements that trigger outcomes to not be as anticipated, estimated or meant. 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 shouldn’t place undue reliance on forward-looking info. The Company doesn’t undertake to replace or revise any such forward-looking statements or forward-looking info contained herein to mirror new occasions or circumstances, besides as could also be required by relevant secruties legal guidelines.

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

On Behalf of the Board,

“Belinda Labatte”
Chief Government Officer and Director