Ms. Belinda Labatte reports

LOMIKO METALS ANNOUNCES RESULTS OF THE 2024 ANNUAL GENERAL MEETING AND APPOINTMENT OF CEO TO THE BOARD OF DIRECTORS

On Dec. 19, 2024, shareholders approved all the resolutions put forth at the annual and special meeting of shareholders.

The number of directors was set at four and each of the following individuals was elected as directors of the company: Belinda Labatte, Dominique Dionne, Lee Arden Lewis and Mary Juetten.

In addition, subsequent to the meeting, the board of directors appointed Ms. Labatte as executive chair of the board, Ms. Dionne as lead independent director, Ms. Dionne as chair of the CCG&C (corporate governance and compensation) committee, and Ms. Juetten as chair of the audit committee. The board also appointed Gordana Slepcev as president and chief executive officer and director to the board and Jacqueline Michells as the chief financial officer.

The company is pleased that Mary Juetten, CA, CPA, Esq, GCBD, CDID, CCBD, has been elected to the board of directors. Ms. Juetten is an accomplished executive and entrepreneur with more than 30 years of experience in board, advisory and committee roles and experience in international mine finance. Ms. Juetten brings to the board decades of international experience managing comprehensive portfolios across diverse industries, including engineering and construction, natural resources, and technology, as well as project execution consulting for international clients. Lomiko is pleased to have been introduced to Ms. Juetten through collaboration with the Femina Collective.

The appointment of Dale Matheson Carr-Hilton Labonte LLP, chartered professional accountants, as the auditor of the company and the authorization for the directors to fix the remuneration to be paid to the auditor were approved. The 2024 omnibus incentive plan was reapproved.

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 province 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 Cg (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.

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