Ms. Gordana Slepcev reports

LOMIKO METALS INC. WARRANTS RE-PRICING EXTENSION AND ACCELERATED PROVISIONS

Further to Lomiko Metals Inc.'s press release dated April 3, 2025, in order to reduce the exercise price of the warrants, the TSX Venture Exchange requires that the company include an accelerated exercise period provision in the amended warrants. The accelerated exercise period provision will provide that, if the closing price of the company's shares is 18 cents or higher for 10 consecutive trading days, warrant holders will have 30 calendar days, commencing seven calendar days after the last premium trading day. The proposed amendments to the warrants are subject to acceptance by the TSX Venture Exchange.

In addition, the company will extend the early incentive program pursuant to which the company will offer holders of the above-noted outstanding warrants the opportunity to exercise to May 15, 2025. Refer to the company's press release dated April 3, 2025.

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.

We seek Safe Harbor.