Mr. Gordana Slepcev reports

LOMIKO METALS ANNOUNCES CLOSING OF THE SECOND TRANCHE OF THE HARD DOLLAR FINANCING AND FIRST TRANCHE OF FLOW-THROUGH FINANCING AND EXTENSION OF THE FLOW-THROUGH FINANCING

Lomiko Metals Inc. will apply to the TSX Venture Exchange for approval to close the second tranche of the hard-dollar financing and a first tranche of the flow-through financing for $113,500 and $109,999.86, respectively.

The company anticipates to issue: (1) 840,741 common shares at 13.5 cents, each along with a warrant exercisable for three years at 20 cents, for gross proceeds of $113,500; and (2) 647,058 flow-through common shares at 17 cents, each with a warrant exercisable for two years at 20 cents, for gross proceeds of $109,999.86.

A cash finder's fee of 5 per cent or $10,675 has been agreed to be paid.

All securities issued shall be subject to a hold period expiring four months and one day from their date of issuance. Completion of the financing and the issuance of the securities remain subject to receipt of all necessary regulatory approvals, including the approval of the TSX-V.

The company intends to use the proceeds of the hard-dollar financing to continue the engineering phase of the prefeasibility study of the La Loutre graphite project, progressing with the bulk sample and anode piloting at the La Loutre project, exploring the company's Yellow Fox property, regional graphite exploration, and general working capital purposes.

The gross proceeds from the issuance of flow-through common shares will be used to incur resource exploration expenses, which will constitute Canadian exploration expenses, as defined in Subsection 66.1(6) of the Income Tax Act, and flow-through critical mineral mining expenditures, as defined in Subsection 127(9) of the Income Tax Act, which will be incurred on or before Dec. 31, 2026, and will be renounced with an effective date no later than Dec. 31, 2025, to the subscribers of flow-through common shares in an aggregate amount not less than the gross proceeds raised from the issue of the flow-through common shares. For subscribers of flow-through common shares who are residents of Quebec at all relevant times, the qualifying expenditures shall qualify for inclusion in the exploration base relating to certain Quebec exploration expenses within the meaning of Section 726.4.10 of the Taxation Act (Quebec), and expenses qualifying for inclusion in the exploration base relating to certain Quebec surface mining expenses or oil and gas exploration expenses within the meaning of Section 726.4.17.2 of the Taxation Act (Quebec).

Gordana Slepcev, chief executive officer, president and a director, stated: "We are pleased to close the second tranche of the private placement as we have achieved our current funding goals. The hard dollars will be used to continue the prefeasibility level of the engineering studies and for the independent road access study for the La Loutre natural flake graphite deposit. The proceeds from the flow-through financing will support other strategic initiatives, including the bulk sample and anode piloting at the La Loutre project, exploring the company's Yellow Fox property, regional graphite exploration, and work related to permitting."

The company further advises that it will seek approval of the TSX-V for a second extension to the closing of a second flow-through tranche to June 30, 2025, details of which are disclosed in the company's original news release dated April 1, 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 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.

We seek Safe Harbor.