Lomiko Metals Inc. announce the third 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 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. The assay results reported in this press release are for the 14 holes drilled at the north end of the EV Zone.

These holes were drilled to determine the northern extent of the graphite mineralization, confirm the results of the previous drilling, and provide better detail of the EV Zone in this part of the deposit. On the northeast side of the EV Zone, holes LL-22-011, -013, -026, -027 and -28 were drilled entirely or mostly in quartzite and encountered no or very narrow graphite mineralization within narrow paragneiss bands within the quartzite. The lack of significant graphite in these holes effectively defines the northeastern limit of the EV Zone.

Wide intervals of high- to moderate-grade graphite were encountered in holes LL-22-016, -019, -022, -024, -025, -030, -032 and -033 and narrow, moderate-grade intervals in LL-22-029 and -30 within paragneiss. Exceptional intervals of near-surface, high-grade flake graphite mineralization include 11.02% graphitic carbon (“% Cg”) over 120.0 metres (“m) from 32.0 to 152.0m in hole LL-22-032 and 8.73% Cg over 110.5m from 81.5 to 192.0m in hole LL-22-019. These impressive intersections define a strong graphite trend and indicate that the EV Zone has excellent potential to continue to the northwest.