Ms. Belinda Labatte reports

LOMIKO ANNOUNCES COMPLETION OF EXPLORATION DRILLING FOR ITS LA LOUTRE GRAPHITE PROJECT

Lomiko Metals Inc. has completed its infill and extension exploration drilling program at its wholly owned La Loutre graphite project, located within the Kitigan Zibi Anishinabeg (KZA) first nations territory within the Outaouais and Laurentides regions, 180 kilometres northwest of Montreal.

The comprehensive drill program featured 79 holes totaling 13,113 metres drilled; 53 of these, totaling 9,037 metres, were drilled in the Electric Vehicles ("EV") Zone and 26 holes totaling 4,076 metres were drilled in the Battery Zone. The Company is awaiting further assay results which will be shared when available.

The Preliminary Economic Assessment (PEA) for the La Loutre project confirmed that the EV and Battery Zones are sources of material that, when processed, would yield concentrated graphite of high purity over 95% graphitic carbon (Cg) (see press release of July 29, 2021 for more details). The objective of the 2022 exploration campaign was to better understand the extent and quality of the deposit and provide the required inputs for a pre-feasibility study.

Lomiko Metals thanks Breakaway Exploration Management of Quebec for the supervision and operation of the 2022 exploration drilling program at the La Loutre project and ensuring compliance with ECOLOGO specifications. Lomiko also advises that it maintained its obligations to ensure departure before the seasonal hunting that occurs on the northern end of the claim. Lomiko has retained InnovExplo Consulting and Engineering to prepare an updated NI-43-101 resource estimate for the La Loutre project following the completion of the drilling and assay results receipt.

Qualified Person

The technical content presented in this press release was reviewed by Mark Fekete, P.Geo. who actively participated in the La Loutre drill program as an independent consultant to the Company as the "Qualified Person" as that term is defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

About Lomiko Metals Inc.

Lomiko Metals has a new vision and a new strategy in new energy. Lomiko represents a company with a purpose: a people-first company where we can manifest a world of abundant renewable energy with Canadian and Quebec critical minerals for a solution in North America. Our goal is to create a new energy future in Canada where we will grow the critical minerals workforce, become a valued partner and neighbour with the communities in which we operate, and provide a secure and responsibly sourced supply of critical minerals. Lomiko is ECOLOGO certified.

The Company holds a 100% interest in its La Loutre graphite development in southern Quebec. The La Loutre project site is located within the Kitigan Zibi Anishinabeg (KZA) First Nations territory. The KZA First Nations are part of the Algonquin Nation and the KZA territory is situated within the Outaouais and Laurentides regions. Located 180 kilometres northwest of Montreal, the property consists of 1 large, continuous block with 76 minerals claims totaling 4,528 hectares (45.3 km2). Lomiko Metals published a Preliminary Economic Assessment ("PEA") on July 29, 2021 which indicated the project had a 15-year mine life producing per year 100,000 tonnes of the graphite concentrate at 95%Cg or a total of 1.5Mt of the graphite concentrate. This report was prepared as National Instrument 43-101 Technical Report for Lomiko Metals Inc. by Ausenco Engineering Canada Inc., Hemmera Envirochem Inc., Moose Mountain Technical Services, and Metpro Management Inc., collectively the Report Authors. The Bourier project site is located near Nemaska Lithium and Critical Elements south-east of the Eeyou Istchee James Bay territory in Quebec which consists of 203 claims, for a total ground position of 10,252.20 hectares (102.52 km2), in Canada's lithium triangle near the James Bay region of Quebec that has historically housed lithium deposits and mineralization trends.

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