Lomiko Metals Inc. announce the initial round of analytical results from the infill and extension exploration drill program at its wholly-owned La Loutre Graphite property, located approximately 180 kilometres northwest of Montréal in the Laurentian region of Québec. The La Loutre graphite project site is located within the Kitigan Zibi Anishinabeg (KZA) First Nations territory. The drilling was supervised by Québec-based, independent geological consultant Breakaway Exploration Management Inc. and was operated under ECOLOGO requirements and compliance protocols, as Lomiko is ECOLOGO certified.

This phase of the program was initiated on May 15, 2022, with the goal to further define the deposit, provide the data needed to increase confidence in the mineral resource and to build on the results of the positive Preliminary Economic Assessment for the La Loutre project. Lomiko has retained InnovExplo Inc, a Quebec-based independent consulting firm specializing in geology, resource estimation, mining engineering and sustainable development, to prepare an updated NI 43-101 compliant resource estimate for the La Loutre project following the completion of the 2022 drill program. In particular, the goal of the drilling in the southern end of the EV Zone, as described below, was to provide additional information, confirm results of the previous drilling campaigns, test the extension of the EV Zone (“EV-EXT”) and establish the southern extents of the zone.

A new zone of graphitic carbon was encountered in a marble unit on the eastern or footwall side of the paragneiss. The graphite mineralization at la Loutre is generally hosted in paragneiss, and drill holes completed in prior years by the Company in the EV Zone all stopped several metres into the marble as it was previously thought that the graphite mineralization was restricted to the paragneiss. This discovery consists of 6.09% Cg over 21.0m from 211.1m to 232.1m in hole LL-22-003.