Ms. Belinda Labatte reports

LOMIKO METALS ANNOUNCES MANAGEMENT TRANSITION AND UPDATE ON THE 2024 ANNUAL GENERAL MEETING MATERIALS AMID CANADA POST STRIKE

Effective Dec. 19, 2024, Gordana Slepcev, Lomiko Metals Inc.'s current chief operating officer, will assume the role of chief executive officer, and Belinda Labatte will remain as executive chair. The company will not be replacing the chief operating officer role.

Belinda Labatte, chief executive officer and interim chair of the board, remarked: "As partners with shared values and vision for the growth of this business, Gordana and I see this change as the right leadership for the current phase of development and growth of the business. I am pleased to transition my role to Gordana Slepcev, and we are aligned with our shareholders invested in critical minerals development and advancing our natural flake graphite deposit in Quebec as a responsible and innovative developer. I look forward to working with the board and supporting the company in our next phase of growth."

Ms. Slepcev is an operations-oriented leader with a proven record in leading safe mining operations and creating value at all stages of mining development. She has demonstrated success in leading grant processes at all levels of government, bringing in non-dilutive capital to support project development.

Gordana Slepcev, MSc, PEng, brings over 25 years of proven operational experience to the role. She is a professional mining engineer registered in Ontario with the global mining experience in developing, building and leading safe and community-friendly mining operations. Ms. Slepcev's extensive experience spans multiple commodities, including gold, base metals, coal and industrial minerals. She brings considerable experience in mineral exploration, permitting, corporate and regulatory/first nations/indigenous relations, and project financing to Lomiko. Before joining the company, Ms. Slepcev held the position of chief operating officer for BMSI, a privately held company based in Newfoundland, where she was responsible for restarting the barite reprocessing facility, mitigating historical environmental impacts and overseeing EPCM contractors. She also formerly held the role of COO of Anaconda Mining, where she was responsible for the company's operations and development of the Goldboro project. Ms. Slepcev graduated from the University of Belgrade with an MSc and is the past chair of the Toronto chapter of the Canadian Institute of Mining, Metallurgy, and Petroleum. She is a WTPEO vice-chair and committee member and a member of the advisory board of the OreBit platform.

The board will continue to promote inclusive, creative and innovative approaches to responsible critical mineral development.

Annual general meeting

Lomiko invites registered shareholders to attend the company's annual general meeting for an overview of Lomiko's progress and investor relations efforts, market conditions, and next phase of growth on Dec. 19, 2024.

In light of the Canada Post strike, investors can vote their shares by completing their proxy document. All materials are located on the company's website. For further information, shareholders can e-mail info@lomiko.com.

The information on how to vote is in the blank voting instruction form on page 2 and is located on the company's website.

About Lomiko Metals Inc.

The company holds mineral interests in its La Loutre graphite development in Southern Quebec. Its La Loutre project site is within the Kitigan Zibi Anishinabeg First Nation's territory. The KZA First Nation is part of the Algonquin Nation, and the KZA traditional territory is situated within the Outaouais and Laurentides regions. Located 180 kilometres northwest of Montreal, the property consists of one large, continuous block with 76 mineral claims totalling 4,528 hectares (45.3 square kilometres).

The property is underlain by rocks from the Grenville province of the Precambrian Canadian Shield. The Grenville was formed under conditions that were very favourable for the development of coarse-grained, flake-type graphite mineralization from organic-rich material during high-temperature metamorphism.

Lomiko published an updated mineral resource estimate in a National Instrument 43-101 technical report and a mineral resource estimate update for its La Loutre project, Quebec, Canada, prepared by InnovExplo on May 11, 2023, which estimated 64.7 million tonnes of indicated mineral resources averaging 4.59 per cent graphitic carbon per tonne for 3.0 million tonnes of graphite, a tonnage increase of 184 per cent. Indicated mineral resources increased by 41.5 million tonnes as a result of the 2022 drilling campaign from 17.5 million tonnes in 2021 MRE with additional mineral resources reported downdip and within marble units, resulting in the addition of 17.5 million tonnes of inferred mineral resources averaging 3.51 per cent Cg per tonne for 650,000 tonnes of contained graphite; and the additional 13,107 metres of infill drilling in 79 holes completed in 2022 combined with the refinement of the deposit and structural models contributed to the addition of most of the inferred mineral resources to the indicated mineral resource category, relative to the 2021 mineral resource estimate. The MRE assumes a $1,098.07 (U.S.) per tonne graphite price and a cut-off grade of 1.50 per cent Cg.

In addition to La Loutre, Lomiko has earned in its 49-per-cent stake in the Bourier project from Critical Elements Lithium Corp. as per the option agreement announced on April 27, 2021. The Bourier project site is located near Nemaska lithium and critical elements southeast 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 square kilometres) in Canada's Lithium Triangle near the James Bay region of Quebec that has historically housed lithium deposits and mineralization trends.

We seek Safe Harbor.