Ms. Gordana Slepcev reports

LOMIKO ANNOUNCES OMNIBUS EQUITY INCENTIVE PLAN GRANTS

Lomiko Metals Inc. has made grants for management, investor relations and board compensation. As part of the annual short- and long-term incentive program as determined by the board, Lomiko is announcing the grant of stock options to management and an investor relations adviser, restricted share units to management, and RSUs and deferred share units to the board in accordance with the company's approved 2024 omnibus equity incentive plan.

On the recommendation of the compensation, corporate governance and nominating committee, the board has approved the grant of an aggregate of 644,446 RSUs and 844,403 DSUs to the company's directors. Management including the executive chair has been granted an aggregate of 370,370 RSUs, and 375,000 stock options have been issued. The company is pleased to announce that it has retained A. Paul Gill to provide investor relations services in accordance with TSX Venture Exchange policies. The agreement is for a six-month term, subject to renewability. Mr. Gill has been granted an option to purchase up to 110,000 common shares, exercisable for three years at 13.5 cents, subject to vesting provisions and in accordance with the company's omnibus equity share plan.

Mr. Gill reports that he currently holds an aggregate of 596,000 common shares and 325,000 warrants/options of Lomiko, directly and indirectly. The above mentioned transaction is subject to the approval of the regulatory authorities. This is an arm's-length transaction.

The 2024 omnibus equity incentive plan's objective is to create an incentive compensation program that is aligned with the company's long-term objectives. Stock options, DSUs, RSUs and performance stock units are granted in accordance with Policy 4.4 (Security Based Compensation) of the TSX Venture Exchange, the terms and conditions of the 2024 omnibus equity incentive plan and the terms of the award agreement evidencing such equity compensation security.

RSUs: Each vested RSU can be redeemed for one fully paid and non-assessable common share of Lomiko issued from treasury. RSUs are vested by Jan. 24, 2026. The number of RSUs granted was calculated based on the compensation to be paid to the director, as recommended by CCGNC and approved by the board, and was calculated using a price of 13.5 cents per common share.

DSUs: Each vested DSU can be redeemed for one fully paid and non-assessable common share of Lomiko issued from treasury. For directors, the DSUs granted vest Jan. 24, 2026, and are settled on a director's retirement from the board. The number of DSUs granted was calculated based on the compensation to be paid to the director, as recommended by CCGNC and approved by the board, and was calculated using a price of 13.5 cents per common share.

Stock options: Stock options for management have a five-year term from the grant date. The vesting schedule is as follows: equal instalments of one-third on grant date, in year one, the first anniversary of the grant date, and in year three, the third anniversary of the grant date. The exercise is 13.5 cents per option.

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).

Its La Loutre 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 mineral resource estimate update for 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.

The company also holds interest in seven early-stage projects in Southern Quebec, including Ruisseau, Tremblant, Meloche, Boyd, Dieppe, North Low and Carmin covering 328 claims in total on seven early-stage projects covering 18,622 hectares in the Laurentian region of Quebec and within the KZA territory.

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