Ms. Gordana Slepcev reports

LOMIKO METALS ENGAGES DRA AMERICAS TO LEAD THE PRE-FEASIBILITY LEVEL ENGINEERING STUDIES FOR THE LA LOUTRE NATURAL FLAKE GRAPHITE PROJECT IN QUEBEC, CANADA

Lomiko Metals Inc. is continuing with the prefeasibility level engineering studies for its wholly owned La Loutre natural flake graphite project in Quebec with the engagement of study leader, DRA Americas, as of April 23, 2025. This international engineering firm with offices in Quebec will lead the study and prepare a technical report in accordance with National Instrument 43-101 rules, with Norda Stelo as the mining engineering lead, also Quebec based, and Knight-Piesold as the geotechnical, hydrogeological and geomechanical lead.

Lomiko has chosen to partner with DRA Americas, Norda Stelo and Knight-Piesold due to their position as the industry leaders. These independent expert consultants have extensive expertise in engineering, process design, and mine planning, with numerous projects completed in the critical minerals and graphite and experience in the application of international best practice and innovative practices in mine sustainability.

Gordana Slepcev, chief executive officer, president and director, stated: "With the recently closed first tranche of the private placement, we are happy to continue with the prefeasibility level of the engineering studies for the La Loutre natural flake graphite deposit. The company completed approximately 50 per cent of the prerequisite work in the last two years, and we are now pleased to continue this process. With the mineral resource estimate prepared by InnovExplo (a member of Norda Stelo), we have built a strong base to start with the mine plan evaluation options, and positive metallurgical testing and battery trials programs will be used to continue with engineering studies, including site infrastructure and the processing plant layout and equipment selection. We are very pleased to be advancing the completion of the prefeasibility level studies with a wide range of independent expert consultants lead by DRA Americas, namely Knight-Piesold and Norda Stelo, principally based in Quebec, to assess the geology and production model and design the project in a way to mitigate and manage with best practices all environmental and social risk factors and which best satisfies the vision and objectives of Lomiko as a responsible developer of natural flake graphite in Quebec, Canada, for a North American energy supply chain."

The company will continue to provide transparent, factual and continuing information on the studies to investors and community members as they progress.

About Lomiko Metals Inc.

The company holds mineral interests in its La Loutre graphite development in Southern Quebec. The La Loutre project site is within the Kitigan Zibi Anishinabeg (KZA) 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 Metals published an updated mineral resource estimate (MRE) in a National Instrument 43-101 technical report and mineral resource estimate update for the 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 down dip and within marble units resulted 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.

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 KZA territory.

The stage graphite portfolio consists of 328 claims in total on seven early stage projects covering 18,622 hectares in Southern Quebec.

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