Ms. Gordana Slepcev reports

LOMIKO METALS PROVIDES UPDATE ON ARRANGEMENT WITH GLOBAL BATTERY MATERIALS, LOAN FACILITY AND FUNDING OF THE YELLOW FOX PROJECT

Lomiko Metals Inc. has received additional shareholder support for its previously announced transaction with Global Battery Materials Corp. (the purchaser or GBM) pursuant to which the purchaser will acquire all of the issued and outstanding common shares of the company for cash consideration of 13 cents per share by way of a court-approved plan of arrangement under the Business Corporations Act (British Columbia), subject to customary closing conditions.

Subsequent to the company's announcement on July 28, 2026, additional shareholders of the company, holding an aggregate 3,747,444 shares (representing approximately 4.7 per cent of the issued and outstanding shares), have entered into voting and support agreements with the purchaser, pursuant to which they have agreed, among other things, to vote their shares in favour of the transaction, subject to the terms and conditions of their respective agreements. A copy of the form of voting and support agreement will be filed under the company's profile on SEDAR+ in accordance with applicable securities laws.

Together with the voting and support agreements previously entered into by certain shareholders and the directors and officers of the company, shareholders holding, in aggregate, approximately 22.9 per cent of the issued and outstanding shares have now agreed to vote their shares in favour of the transaction.

Loan facility update

Further to the company's news release dated July 28, 2026, the company wishes to clarify that, in addition to bearing interest at a rate of 8.0 per cent per annum, the loan facility granted in connection with the transaction permits the company, at its option, to satisfy monthly interest obligations (other than at maturity or upon conversion of the loan facility) by capitalizing accrued and unpaid interest and adding such amounts to the outstanding principal balance of the loan facility. Any such capitalized interest will thereafter accrue interest at the applicable rate in accordance with the terms of the loan facility. Further to the foregoing, any future proposal to settle accrued or capitalized interest under the loan facility through the issuance of securities of the company will be subject to prior written acceptance of the TSX Venture Exchange and shall be completed at a price no lower than the market price (as defined in the policies of the TSX-V) of the company's shares at the time of such conversion or settlement.

The company has also received conditional approval from the TSX-V for the loan facility, subject to the satisfaction of customary conditions and final acceptance of the TSX-V. The company expects to proceed with an initial drawdown under the loan facility on Aug. 7, 2026, in accordance with the terms thereof.

Securityholder meeting

Additional details regarding the transaction, including the background to the transaction, the reasons for recommendations of the special committee of the board of directors and the board of directors for the transaction and how securityholders can participate in and vote at the special meeting of securityholders to be held in connection with the transaction, will be set out in the company's management information circular to be prepared, filed and sent to securityholders. Copies of the management information circular, the form of voting, and support agreements and other proxy materials will be filed with Canadian securities regulators and made available on the SEDAR+ profile.

The 2026 Junior Exploration Assistance (JEA)

The company is also pleased to acknowledge the support of provincial JEA by the government of Newfoundland and Labrador regarding its critical minerals project Yellow Fox.

The 2026 Junior Exploration Assistance (JEA) budget is $3.9-million and includes: $1.3-million from provincial grant funds, $1.3-million from ACOA-financed Critical Mineral Assistance (CMA) and $1.3-million from the provincially financed Provincial Critical Mineral Assistance (PCMA). Funding is provided as rebates for eligible exploration activities. Within this funding, Lomiko can receive a rebate of up to $96,118.

About Lomiko Metals Inc.

The company holds mineral interests in its advanced La Loutre graphite project in Southern Quebec. The La Loutre graphite project site is within the Kitigan Zibi Anishinabeg (KZA) First Nation's territory, which 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 exclusive exploration rights totalling 4,528 hectares (45.3 square km). The company also holds an interest in seven early stage projects in Southern Quebec, including Ruisseau, Tremblant, Meloche, Boyd, Dieppe, North Low and Carmin, covering 328 exclusive exploration rights over 18,622 hectares in the Laurentian region of Quebec and within KZA territory. The company has optioned an early stage property prospect in the precious metals, antimony and REEs (rare-earth elements). The Yellow Fox property is located approximately 10 km southwest of the town of Glenwood, Newfoundland, and south of the Trans-Canada Highway.

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