Lomiko Metals Inc. announced the seventh round of analytical results from the infill and extension exploration drill program at its 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 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 build on the results of the positive Preliminary Economic Assessment (“PEA”) 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 assay results reported in this press release are for 10 holes drilled along the southwest margin of the Battery Zone. These holes were drilled to confirm results of previous drilling and provide better detail in this part of the Battery deposit.

Significant intervals of graphite mineralization were intersected in all 10 holes. The best intersection was 6.00% graphitic carbon (“% Cg”) over 45.0 metres (“m”) from 55.0 to 100.0m in hole LL-22-062 including 7.41% Cg over 33.0m from 65.5 to 98.5m. These drill results generally show that the graphite intervals along the western margin, although consistent, are narrower and contain less graphite relative to the center of the Battery zone located further to the northeast, which was expected based on the previous drilling.

The Company holds a 100% interest in its La Loutre graphite development project in southern Quebec. The La Loutre project site is located within the Kitigan Zibi Anishinabeg (KZA) First Nations territory. The KZA First Nations are part of the Algonquin Nation and the KZA 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 totaling 4,528 hectares (45.3 km2). The Property is underlain by rocks belonging to the Grenville Province of the Precambrian Canadian Shield. The Grenville was formed under conditions that were very favorable for the development of coarse-grained, flake-type graphite mineralization from organic-rich material during high-temperature metamorphism.