Ms. Gordana Slepcev reports

LOMIKO METALS ENGAGES DRA AMERICAS TO LEAD THE ROAD ACCESS STUDY ON LA LOUTRE NATURAL FLAKE GRAPHITE PROJECT IN QUEBEC, CANADA AND CORPORATE UPDATE

Lomiko Metals Inc. is starting the study to investigate the best options for road access from the highway to the La Loutre natural flake graphite project site in Quebec. The study leader, DRA Americas, which is also leading the prefeasibility-level engineering studies (PFS) at La Loutre, will be supported by numerous consulting groups based in Quebec, and will actively engage with the local consultants and community to seek and incorporate community feedback in the route selection process.

Gordana Slepcev, chief executive officer, president and a director, stated: "We are happy to continue with the prefeasibility level of the engineering studies for the La Loutre natural flake graphite deposit and also start the critical process of investigating the best options to access the project site from the local highway. This scoping study will be conducted to determine the best way to access the project site and avoid traffic through the town of Lac des Plages, and represents a way that Lomiko is responding to community questions and ideas. We are pleased to work with local consulting groups to identify options and alternatives, evaluate impacts, and propose the best solutions for the local communities' and first nations' input."

The company will continue to provide transparent, factual and continuing information on the studies to investors, first nations and community members as the company progresses. Information on all of the company's public engagements is posted on Lomiko's website.

About DRA Global

DRA Global is a global engineering, project delivery and operations management group specializing in the mining, minerals and metals sector. The group has an extensive record spanning four decades across a wide range of commodities, including battery elements. DRA provides comprehensive services across the project life cycle, from concept development and feasibility studies to engineering, procurement, construction management (EPCM), and continuing operations and maintenance. With offices across key mining regions, including North America and South America, Africa, the Middle East, and Asia-Pacific, DRA delivers tailored solutions to meet the unique needs of its clients. In the Americas, DRA has been instrumental in delivering numerous successful mining projects, offering a blend of innovative design and a commitment to environmental sustainability.

Qualified person for technical content

The technical information in this news 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.

Corporate update

The company announces that, further to its news release dated April 24, 2025, the company will not be proceeding with its proposed amendment to warrants or early incentive program. Refer to the company's news releases dated April 26, 2025, and April 3, 2025, for further information.

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 graphitic carbon (Cg) 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 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 graphite price of $1,098.07 (U.S.) per tonne and a cut-off grade of 1.50 per cent Cg. The independent and qualified persons for the mineral resource estimate, as defined by NI 43-101, are Marina Iund, PGeo (InnovExplo Inc.), Martin Perron, PEng (InnovExplo), Simon Boudreau, PEng (InnovExplo), and Pierre Roy, PEng (Soutex Inc.). The effective date of the estimate is May 11, 2023.

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. The grades presented below for the Laurentides graphite portfolio were news released on Jan. 7, 2025:

• Ruisseau: grades up to 27.9 per cent Cg from four distinct high-grade mineralized zones that are over three kilometres long;
• Meloche: grades up to 13.3 per cent Cg from two distinct mineralized clusters;
• Tremblant: grades up to 11.6 per cent Cg from numerous, widespread spot anomalies;
• Dieppe: grades up to 6.82 per cent Cg from numerous, widespread spot anomalies and a distinct mineralized cluster;
• Boyd: eight samples grades range from 5.61 per cent Cg to 17.10 per cent Cg, with all samples above 5.00 per cent Cg.

The technical content regarding the exploration results presented was reviewed by Mark Fekete, PGeo, who acts as an independent consultant to the company and is the qualified person.

In addition to La Loutre, Lomiko has earned a 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, which has historically housed lithium deposits and mineralization trends.

The Yellow Fox property is located approximately 10 kilometres southwest of the town of Glenwood in Newfoundland 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 kilometres from the western end of Gander Lake.

This property is on the same trend as the past-producing antimony mine Beaver Brook, 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 (Au), antimony (Sb), lead (Pb), zinc (Zn) and silver (Ag). The trenching exposed the rocks, resulting in grab samples to 59.43 grams per tonne (g/t) 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.

Lomiko's qualified person relied on the information provided by Metals Creek. Metals Creek's qualified person Wayne Reid, PGeo, is registered in Newfoundland.

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