Lomiko Announces Closing of the Acquisition of the Carmin Natural Flake Graphite Property in Southern Quebec
#439, 7184 120th Street, Surrey, BC, V3W 0M6● Ph: (778) 228-1170 ● Fax: (604) 583-1932 ● Website: www.lomiko.com
Lomiko Announces Closing of the Acquisition
of the Carmin Natural Flake Graphite Property in Southern Quebec
Montreal, Quebec – June 1, 2023 - Lomiko Metals Inc. (TSX.V: LMR) (“Lomiko Metals” or the
“Company”) advises that it has applied and received TSX-V approval for the acquisition agreement
entered among SOQUEM Inc. and a private owner to acquire 100% of 17 mineral claims forming
the Carmin project (the “Property”). The Property covers 678 hectares (6,780 Sq km).
The Property is located 40 km west of Mont Tremblant, situated north- east and contiguous to the
La Loutre property where the Company has mineral rights. The Property is accessible by road and
forest road from Lac-des-Plages and the northern end of the claims are partially contiguous to the
Papineau-Labelle Wildlife Reserve. The Company commits to not exploring or developing within
1km of park boundaries. The La Loutre and Carmin project site are located within the Kitigan Zibi
Anishinabeg (KZA) First Nation’s territory and the KZA First Nation is part of the Algonquin
Nation. KZA territory is situated within the Outaouais and Laurentides region.
In order for the Company to acquire SOQUEM’s interest, the terms are:
(i) $50,000 payable in cash;
(ii) the issuance of 1,250,000 common shares of the Company; and
(iii) the granting to SOQUEM of a royalty of 0.75% on net smelter revenues (NSR) (the
“SOQUEM Royalty”).
In order to acquire the private owner’s interest, the terms are:
(i) the issuance of 1,250,000 common shares of the Company; and
(ii) the granting to the private owner of a royalty of 0.75% NSR (the “Private Owner
Royalty”).
The Company retains the exclusive and irrevocable right and option to redeem one-third of the total
of each of the SOQUEM Royalty and the Private Owner Royalty, thus reducing each of the royalties
to 0.50% NSR, each for a total amount of $250,000 payable in cash. In the event of the redemption
of one-third of the royalty by the Company, the total amount of the royalty payable shall be reduced
to 0.50% NSR will be limited to $ 1,000,000 for each of the SOQUEM Royalty and the Private
Owner Royalty, beyond which amount the royalty will be automatically terminated with respect to
future net foundry revenues only.
The common shares issuable under this transaction will be subject to a regulatory hold period of 4
months and 1 day from issuance.
Please refer to the Company’s press release dated March 3, 2023 for further information on the
Property.
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Upcoming Conference Participation
Lomiko is pleased to be participat ing at the B enchmark Minerals Batter y Gigafactories USA
conference from June 8th to 9th, 2023, in Washington, DC. The Company will also attend the Mining
Investment Event of the North in Quebec City from June 19 th to 21 st, 2023. P lease check the
Company’s social media for participation and details.
The Company’s updated investor presentation and website can be found on www.lomiko.com
About Lomiko Metals Inc.
The Company holds mineral interests in its La Loutre graphite development in southern Quebec.
The La Loutre project site is located within the Kitigan Zibi Anishinabeg (KZA) First Nation ’s
territory. The KZA First Nation is part of the Algonquin Nation and the KZA traditional 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 totalling 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 favourable for the development
of coarse -grained, flake -type graphite mineralization from organic -rich material during high -
temperature metamorphism.
Lomiko Metals published a April 13, 2023 Updated Mineral Resource Estimate (MRE) which
estimated 68.2 million tonnes of Indicated Mineral Resources averaging 4.50% Cg per tonne for
3.072 million tonnes of graphite, a tonnage increase of 195%. Indicated Mineral Resources
increased 45.01 million tonnes as a result of the 2022 drilling campaign, from 23.2 million tonnes
in 2021 MRE with additional Mineral resources reported down-dip and within marble units resulted
in the addition of 21.8 million tonnes of Inferred Mineral Resources averaging 3.51% Cg per tonne
for 0.765 million tonnes of contained graphite; and the additional 13,107 metres of infill drilling in
79 holes completed in 2022 combined with the refinement of the deposit and structural models
contributed to the addition of most of the Inferred Mineral Resources to the Indi cated Mineral
Resource category, relative to the 2021 Mineral Resource E stimate. The MRE assumes a
US$1,098.07 per tonne graphite price and a cut-off grade of 1.50%Cg (graphitic carbon).
In addition to La Loutre, Lomiko is working with Critical Elements Lithium Corporation towards
earning its 70% stake in the Bourier Project as per the option agreement announced on April 27th,
2021. The B ourier project site is located near Nemaska Lithium and Critical Elements south -east of
the Eeyou Istchee James Bay territory in Quebec which consists of 203 claims, for a total ground
position of 10,252.20 hectares (102.52 km2), in Canada’s lithium triangle near the James Bay region
of Quebec that has historically housed lithium deposits and mineralization trends.
On behalf of the Board,
Belinda Labatte
CEO and Director, Lomiko Metals Inc.
For more information on Lomiko Metals, review the website at www.lomiko.com
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Contact Gordana Slepcev at 647-391- 7344 or Belinda Labatte at 647 -402-8379 or at 1 -833-456-
6456 or 1-833-4-LOMIKO
or email: [email protected].
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined
in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy
of this news release.