Lomiko Metals Inc. announce the second 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.

The drill program at La Loutre 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 as announced in the Company's July 29, 2021, press release. 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. The initial drill program contemplated up to 18,000 meters in both zones; due to the later than anticipated permit receipt in May, the environmental conditions in the spring and summer resulted in the completion of 13,113 metres.

Strong graphite results from 8 additional holes drilled at southern extension of the EV Zone (first ten holes results were published in September 8 press release). Broad zones of flake graphite mineralization including 2.76% Cg (graphitic carbon) over 99.0m from 30.5 to 129.5m in hole LL-22-014 including wide zones of 15 and 25.5 m at 4.95 and 4.55 % Cg respectively. Wide intervals of near surface, high-grade flake graphite mineralization including 11.64% Cg over 42.0m from 7.0 to 49.0m in hole LL-22-018 including 36m wide mineralization at 13.44% Cg.

Second best result was encountered in hole LL-22-023 at 14.86% Cg from 126.0 to 132.0 meters. Numerous intersections remain open; additional assay results pending. Drill assay results confirm potential to enlarge the EV Zone graphite mineralization southward.

Except for hole LL-22-017 which was abandoned due to technical difficulties, all the holes intersected broad zones of near surface, moderate- to high-grade flake graphite mineralization. The thickest intersection was 2.76% graphitic carbon (“% Cg”) over 99.0 metres (“m”) from 30.5 to 129.5m in hole LL-22-014. The highest-grade intersection was 11.64% Cg over 42.0m from 7.0 to 49.0m in hole LL-22-018.

Additional sampling has been done and assays are pending to fully close these intervals.