Ms. Gordana Slepcev reports

LOMIKO METALS ANNOUNCES RUISSEAU GRAPHITE PROJECT EXPLORATION UPDATE, LA ROCHE ZONE EXTENSION AND FALL WORKPLAN

Lomiko Metals Inc. has released the exploration results from the spring program at the Ruisseau graphite prospect and plans for the summer/fall exploration and drilling program anticipated in November, 2025.

Gordana Slepcev, chief executive officer, president, and director, stated: "We're thrilled to advance our work on the Ruisseau graphite prospect following the success of the spring field program, which confirmed the continuity of the two western zones and revealed extended mineralization through our sampling efforts. Notably, one of the western zones expanded significantly -- from 1,480 metres in 2024 to approximately 3,850 metres. These promising results have motivated us to develop a plan for further exploration, including a maiden drill program targeting the two western zones. We intend to drill 18 holes in the Rune zone and 20 in La Roche, totalling an initial 2,500 metres."

Ruisseau prospecting and sampling results

The company is pleased to report the results of a beep-mat prospecting and sampling program completed in May, 2025, on the 84-claim (4,866-hectare) Ruisseau graphite property located approximately 20 kilometres north of L'Ascension in the Laurentian region of Quebec. The primary goal of the program was to prospect and sample along the south extensions of the Rune and La Roche airborne time-domain electromagnetic (TDEM) trends, specifically to confirm drill targets along these graphite-bearing structures. In 2023 and 2024, a total of 35 samples were collected along the Rune TDEM trend, with seven samples returning 15 to 20 per cent graphitic carbon (Cg) and 15 samples returning greater than 20 per cent Cg up to a maximum of 27.90 per cent Cg along a 1,450-metre strike length. At La Roche, a total of 23 samples were collected along a 1,480-metre strike length with six samples returning 15 to 20 per cent Cg and six returning greater than 20 per cent Cg up to a maximum of 24.70 per cent Cg. Refer to the press release issued in January, 2025, outlining four zones at Ruisseau.

Work program

The 2025 work program consisted of prospecting and sampling over a 10-day period with the aid of a beep mat. A total of 39 rock samples, including three quality assurance/quality control samples, were collected. The samples showed strong results with 29 of 36 samples returning greater than 1.0 per cent Cg as follows.

The northeast-trending Rune zone has been delineated by prospecting and sampling along an airborne TDEM (time-domain electromagnetic) trend over a length of 1,450 metres. It remains open to the northeast and southwest beyond the limits of the 2022 airborne survey. The beep mat detected conductivity over surface widths up to 25 metres in places across the zone. Sampling in 2025 at the southern limit of the airborne geophysical coverage returned strong graphite results up to a maximum of 27.5 per cent Cg. Prospecting and sampling on the south projection of the Rune zone outside the limits of the 2022 airborne geophysical survey returned two widely spaced, strong values of 6.01 and 18.00 per cent Cg from float samples.

In addition, the 2025 sampling along the southern extension of the La Roche TDEM trend was incredibly successful with numerous moderate to high-grade results up to a maximum of 27.5 per cent Cg. The known strike length of the La Roche graphite zone on the property was extended from 1,480 metres in 2024 to approximately 3,850 metres. The beep mat detected high conductivity over surface widths up to 50 metres in places. The La Roche zone is approximately 450 metres east of and runs parallel to the Rune zone. La Roche zone coincides with an airborne TDEM trend that extends for its entire length within the property and that likely continues beyond the limits of the property.

The graphite mineralization at both Rune and La Roche is commonly found in bands within paragneiss and consists of very coarse-grained graphite flakes. It is usually accompanied by biotite and minor sulphides and is typically quite rusty. The apparent thickness of individual bands can be inferred by strong conductivity readings from the beep mat, with an average width of five to 10 metres and lengths of 100 to 200 metres.

Structurally, the Rune and La Roche zones appear to be on opposite limbs of a north-to-northeast-trending synform. Both zones show moderate to shallow dips that are on average 50 degrees from horizontal. Typically, graphite bands are best exposed along the west margin of the Rune TDEM trend and dip east, whereas graphite bands are found along the east margin of the La Roche TDEM trend and dip west.

Drill program proposed

A total of five primary and four secondary targets at Rune and six primary and four secondary targets at La Roche have been selected for drill testing based on the 2022 airborne geophysical survey and the strong graphite values obtained from the 2023, 2024 and 2025 prospecting and sampling programs. The company intends to proceed with a 2,500-metre drill program that will test the Priority 1 drill targets at Rune and La Roche.

Permitting has been initiated with the expectation that drilling can begin in early November, 2025.

Quality assurance/quality control and analytical procedures

All rock sample locations were recorded with Android rugged smart phones running Q-Field data collection software in map datum UTM WGS84 zone 18N. The rock samples were photographed and placed in plastic sample bags with sample numbers written on the bags in indelible ink. A plastic, waterproof tag was left at the sample site. The samples were sealed in a rice bag with a zip tie and delivered by Breakaway personnel to Activation Laboratories Ltd. (Actlabs) in Val d'Or, Que. Two certified reference material standards and one blank were included with the 36 samples collected in 2025. In Val d'Or, the samples were crushed to 80 per cent passing two millimetres and then riffle split to a 250-gram subsample that was pulverized to 95 per cent passing 105 micrometres (Actlabs Code RX1). The sample pulps were then analyzed for graphitic carbon by mild hydrochloric acid digestion followed by combustion in an infrared induction furnace (Actlabs Code 8Cg). Actlabs is accredited under ISO 9001:2015 registration and is independent of the company.

Qualified person

The technical content presented in this press release was reviewed by Mark Fekete, PGeo, who acts as an independent consultant to the company as the qualified person as that term is defined under National Instrument 43-101, Standards of Disclosure for Mineral Projects.

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 province 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 in Quebec, Canada, prepared by InnovExplo Inc. 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 three 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 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), 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 early-stage graphite portfolio consists of 328 claims in total on seven early-stage projects covering 18,622 hectares 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 grades presented below for the Laurentides graphite portfolio were press 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 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, which has historically housed lithium deposits and mineralization trends.

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 02D/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 No. 027536M, five kilometres from the western end of Gander Lake. The property is centred at approximately UTM (NAD 27) grid co-ordinates 5,419,400 metres north and 645,300 metres east.

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. The trenching exposed the rocks, resulting in grab samples to 59.43 grams per tonne gold, 11.10 per cent antimony, 7.00 per cent zinc, 72.90 grams per tonne silver and 5.50 per cent lead in arsenopyrite-stibnite veins within altered monzogranite.

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

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