Ms. Gordana Slepcev reports

LOMIKO METALS ANNOUNCES INDUSTRY AND CORPORATE UPDATE

Lomiko Metals Inc. has provided a graphite industry update and corporate update.

Gordana Slepcev, chief executive officer, president and a director, stated: "We are excited to see that world leaders are focusing on what matters most, and, obviously, critical minerals and materials come to the forefront of global agendas. Canada has the potential to lead the world and establish its own security and trading position based on the minerals needed for the tech and energy transition and specifically for graphite, deemed one of the six priority minerals in Canada. These macro trends will positively position developers like Lomiko and create value for shareholders, stakeholders and rightsholders, and all Canadians as it will boost economic development."

Industry update

The context for Canadian graphite and investors is strong as it positions itself for global leadership. In the article "DeepDive: A new strategy for resilient global leadership in natural resources and manufacturing," published on June 24, 2025, Canada's resource potential for graphite is indicated as eighth-largest producer and reserves. This underlines the importance of the G7 statement by the government of Canada, "This will include anticipating critical minerals shortages, co-ordinating responses to deliberate market disruption, and diversifying and onshoring, where possible, mining, processing, manufacturing and recycling." The Canadian government has also indicated that G7 countries and their allies will form a critical minerals production alliance to stockpile and develop materials.

According to the government of Canada website, China holds the largest reserves of graphite, followed by Brazil and Mozambique, with these three countries collectively accounting for 63 per cent of the world's graphite reserves.

Lomiko has been steadfast in its vision to advance its project to feasibility studies and provide an important additional source of Canadian graphite to the North American supply chain and compete globally. Graphite has many industrial uses, including battery and energy storage applications. The research at hand focuses on many industrial applications, especially developing anode material for use in batteries. Prefeasibility studies involve numerous studies conducted by third party independent experts, with the majority located in Quebec.

Corporate update

Bourier

The board of directors has approved the sale of its 49-per-cent interest in Bourier to Critical Elements Lithium Corp. The 203-claim block, known as the Bourier project, was being explored for lithium. Lomiko has earned a 49-per-cent stake in the Bourier project from Critical Elements Lithium 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, and 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. Three years of exploration have yielded no significant results in lithium, gold or base metals and the board of directors has agreed that graphite and its early-stage antimony project in Newfoundland are a better use of the company's resources.

OTCQX listing

The company further advises that it will not continue payments to be listed on the OTCQX.

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 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 acquired claims in the Yellow Fox property, 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 License 027536M, five kilometres from the western end of Gander Lake.

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.

We seek Safe Harbor.