Mr. Gordana Slepcev reports

LOMIKO METALS ANNOUNCES RECEIPT OF PROVINCE OF QUEBEC PERMITS TO INITIATE THE BULK SAMPLE WORKS AT LA LOUTRE GRAPHITE PROJECT AND UPDATE ON PRIVATE PLACEMENT

Lomiko Metals Inc. has received the Autorisation pour travaux d'exploration a impacts (ATI) for its planned 250-tonne bulk sample at La Loutre graphite deposit. This bulk sample is an essential aspect of the continuing research and development to scale up and confirm the process of producing anode material. The bulk sample work will be done in the fall, after the holiday and hunting seasons. Some non-invasive work and mapping will start through the summer. The company will continue to provide transparent and full information and comply with ECOLOGO for all field work.

Gordana Slepcev, chief executive officer, president and director, stated: "We are happy to announce that we have received the ATI permits to initiate the field and work on the 250-tonne bulk sample excavation and processing. The bulk sample will be used to start the work on the scaling up of the anode testing work and demonstrate on a larger scale the results already achieved in the lab-scale testing, showing positive results for use in anode battery technology. This work is supported by a contribution agreement for building Canadian expertise and processing capabilities in graphite. Graphite is one of the six priority critical minerals."

In addition, Lomiko is presently in a permitting phase, as previously announced, to commence geotechnical site investigations with Ministere des Ressources naturelles et des Forets (MRNF). All Canadian contractors have been announced, and Lomiko is proud to have retained the vast majority, and few exceptions, with Southern Quebec-based consulting and contractor team for the prefeasibility studies. See press releases dated April 24, 2025, and May 21, 2025, for details.

Lomiko will continue to engage with community members and remains open to answering questions via regular virtual meetings, the company's Facebook page and direct e-mails. The information sessions are published on the company's Facebook page and website.

Qualified person

The technical content presented in this press release was reviewed and approved by Gordana Slepcev, PEng, who is the chief executive officer and president of Lomiko Metals and acts as the qualified person as that term is defined under National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

Private placement

The company further advises that it will not seek approval from the TSX-V for a second extension to the closing of a second flow-through tranche, which closes June 30, 2025; details of which are disclosed in the company's original press 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 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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