Ms. Gordana Slepcev reports

LOMIKO PROVIDES UPDATES ON YELLOW FOX, ANTIMONY, SILVER, AND GOLD PROPERTY LOCATED IN CENTRAL NEWFOUNDLAND AND A CORPORATE UPDATE

Lomiko Metals Inc. has provided an update on the Yellow Fox antimony, silver and gold property acquired from Metals Creek as per a news release issued on March 11, 2025.

This property is on the same trend as the past-producing Beaver Brook antimony mine, which is located 25 kilometres southwest of the property. Yellow Fox is an early-stage exploration property prospective in antimony, gold and silver, where historic works returned samples anomalous in gold, antimony, lead, zinc and silver. Trenching exposed the rocks, resulting in grab samples to 59.43 grams per tonne Au, 11.10 per cent Sb, 7.00 per cent Zn, 72.90 g/t Ag and 5.50 per cent Pb in arsenopyrite-stibnite veins within altered monzogranite.

Gordana Slepcev, chief executive officer, president and director, stated: "We are pleased to announce that we have expanded Yellow Fox's land package with the new claim block (039252M) for Yellow Fox, consisting of 30 claims for a total of 748 hectares. Therefore, the entire property now consists of 58 claims for a total of 1,446 hectares. We look forward to completing the targeted soil sampling field program, phase 1. The plan is to complete 10 lines at 250-metres spacing and collect approximately 700 soil samples to better define existing highly prospective antimony, silver and gold targets and further evaluate the south of the Yellow Fox showing, where little to no work has been performed historically. We are happy to work with Metals Creek, which will manage and complete the work program for Lomiko."

The new claim block staked by Metals Creek and added to the option agreement is without any additional cost, aside from the cost to stake the claims.

Yellow Fox antimony and gold prospect spring 2025 work program

The company reviewed existing data and devised a plan for the fieldwork program in the spring of 2025.

Phase 1 of the plan in the spring is focused on soil sampling with the following highlights:

• Soil sampling program targeted south of Yellow Fox, showing 59.413 g/t gold and areas of increased density of interpreted structures;
• Approximately 700 soil samples on 10 250-metre-spaced lines trending approximately 110 degrees with samples taken every 25 m along the line.

Should the soil sampling program be proved effective, expansion of the lines and additional lines to the south are warranted, which would be the focus of the phase 2 program. Phase 2 will see the soil sampling completed on the 250-metre parallel grids at 25-metre spacing covering the southern end of the property. Phase 2 will also focus on ground truthing existing targets, as well as following up on newly generated targets.

Depending on the results of the phase 1 testing, a targeted electromagnetic survey will be undertaken.

The company notes that the results on an adjacent or nearby property (Beaver Brook) are not necessarily what can be expected on the Yellow Fox project. The results of surface or grab samples, by their nature, are selective, and assay results may not be indicative of underlying mineralization.

Location details

The Yellow Fox property is located approximately 10 kilometres southwest of the town of Glenwood, Nfld., and south of the Trans-Canada Highway. The property occurs within NTS map sheets 02D/14 and 15 with excellent access along several logging and skidder roads originating from Glenwood. The main Yellow Fox showing is located in the central part of licence 027536M, five km from the western end of Gander Lake. The property is centred at approximately UTM (NAD 27) grid co-ordinates 5,419,400 m north and 645,300 m east.

Geologically, Yellow Fox exhibits similar traits to those of Beaver Brook with crosscutting structural zones which show intense carbonate alteration with sulphide-bearing stringers to veins of stibnite and arsenopyrite with similar high-grade tenors of antimony, gold, lead, zinc and silver. Arsenopyrite is also present in both locations. Two prominent fracture vein sets are present, one being the muscovite-pyrite-rutile veins trending 356 degrees and the second stibnite-quartz-arsenopyrite being the most abundant and trending 25 degrees. Both these vein sets are similar to those of the past-producing Beaver Brook antimony mine, and both vein sets trend in north to northeast, which is the same as the prospective regional structures.

Qualified person for technical content at Yellow Fox

The technical information in this press release has been prepared and approved by Gordana Slepcev, PEng, who is registered in Ontario as a qualified person as defined by National Instrument 43-101 guidelines. Ms. Slepcev is the chief executive officer and president of Lomiko Metals. A QP relied on the information provided by Metals Creek. The Metals Creek QP is Wayne Reid, PGeo, is registered in Newfoundland and working as the consultant for Metals Creek.

Market-making services

The company announces it has retained ITG Independent Group to provide market-making services in accordance with TSX Venture Exchange policies. ITG will trade shares of the company on the TSX Venture Exchange for the purposes of maintaining an orderly market and improving the liquidity of the company's shares.

ITG will not receive shares or options as compensation. However, ITG and its clients may have or may acquire a direct interest in the securities of the company. ITG is a member of the Investment Industry Regulatory Organization of Canada, and can access all Canadian stock exchanges and alternative trading systems. The capital and securities required for any trade undertaken by ITG as principal will be provided by ITG.

The agreement is for an open-ended term of at least one month and may be terminated thereafter on 30 days notice. The company will pay $5,500 per month from the date the TSX Venture Exchange approved the agreement. This is an arm's-length transaction.

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 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.

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.

The company acquired Yellow Fox's antimony, gold, silver, lead and zinc target from Metals Creek on Jan. 21, 2025. The option term is two years. The new claim block (039252M) for Yellow Fox consists of 30 claims for a total of 748 hectares. Therefore, the entire property now consists of 58 claims for a total of 1,446 hectares.

We seek Safe Harbor.