Lomiko Announces Commencement of Exploration Drilling for its La Loutre Graphite Project
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Lomiko Announces Commencement of
Exploration Drilling for its La Loutre Graphite Project
Montreal, Quebec –May 19, 2022 – Lomiko Metals Inc. (TSX.V: LMR) (“Lomiko Metals” or
the “Company”) is pleased to announce that as of May 17, 2022 it has started an infill and extension
drill program at its wholly -owned La Loutre graphite project , located approximately 180
kilometers northwest of Montréal in the Laurentian region of Québec. The program anticipates
approximately 18,000 meters in 120 holes to be drilled at the “Electric Vehicle” or “EV” and the
Battery zones. Please refer to Figure 1 for details.
Lomiko Metals has commissioned Breakaway Exploration Management of Québec to design and
operate the 2022 exploration drilling program at the La Loutre project and the d rilling is being
performed by Fusion Drilling. The Company anticipates that the drilling program will take
approximately four to five months to complete, depending on site conditions. Lomiko has retained
InnovExplo, a Quebec-based independent consulting firm in geology, mining engineering and
sustainable development, to prepare an updated NI 43-101 resource estimate for the La Loutre
project following the completion of the drilling and assay results . The goal of the program is to
build on the results of the positive Preliminary Economic Assessment for the La Loutre property
announced in the Company’s July 29, 2021 press release. Also, as announced in a press release
issued on March 22 nd, 2022 Lomiko has obtained UL ECOLOGO® certification for mineral
exploration, which is now being implemented in the field.
Belinda Labatte, CEO and Director stated: “Initiating the infill and extension drill program at the
La Loutre graphite project is an important step in the project development as we look to increase
confidence in our mineral resources. We also appreciate th e ongoing engagement that is required
with our communities as we move forward with this exploration program and the future studies of
this project.”
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Figure 1. Location of existing and planned 2022 holes
About Lomiko Metals Inc.
Lomiko Metals has a new vision and a new strategy in new energy. Lomiko represents a company
with purpose: a people -first company where we can manifest a world of abundant renewable
energy with Canadian and Quebec critical minerals for a solution in North America. Our goal is to
create a new energy future in Canada where we will grow the critical minerals workforce, become
a valued partner and neighbour with the communities in which we operate, and provide a secure
and responsibly sourced supply of critical minerals.
The Company holds a 100% interest in its La Loutre graphite development 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 48 minerals claims totaling 2,867 hectares
(28.7km2). Lomiko Metals published a July 29, 2021 Preliminary Economic Estimate (PEA) which
indicated the project had a 15- year mine life producing per year 100,000 tonnes of graphite
concentrate at 95% Cg or a total of 1.5Mt of graphite concentrate. This report was prepared as
National Instrument 43 -101 Technical Report for Lomiko Metals Inc. by Ausenco Engineering
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Canada Inc., H emmera Envirochem Inc., Moose Mountain Technical Services, and Metpro
Management Inc., collectively the Report Authors.
Lomiko is working with Critical Elements Lithium Corporation towards earning its 70% stake in
the Bourier Project as per the options a greement announced on April 27th, 2021. The Bourier
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 hect ares (102.52 km2), in Canada’s lithium triangle near the James Bay region of
Quebec that has historically housed lithium deposits and mineralization trends.
Mr. Mike Petrina, Project Manager, a Qualified Person under National Instrument 43 -101 –
Standards of Disclosure for Mineral Projects, has reviewed and approved the technical disclosure
in this news release.
Mr. Mark Fekete, of Breakaway Exploration Management, is a registered professional geologist
in the province of Quebec as a Qualified Person under National Instrument 43-101 – Standards of
Disclosure for Mineral Projects, has reviewed and approved the technical disclosure in this news
release.
For more information on Lomiko Metals, review the website at www.lomiko.com or contact us at
Cautionary Note Regarding Forward-Looking Information
This news rel ease contains "forward -looking information" within the meaning of the applicable
Canadian securities legislation that is based on expectations, estimates, projections and
interpretations as at the date of this news release. The information in this news rel ease about the
Company; and any other information herein that is not a historical fact may be "forward -looking
information" (“FLI”). All statements, other than statements of historical fact, are FLI and can be
identified by the use of statements that inclu de words such as "anticipates", "plans", "continues",
"estimates", "expects", "may", "will", "projects", "predicts", “proposes”, "potential", "target",
"implement", “scheduled”, "intends", "could", "might", "should", "believe" and similar words or
expressions. FLI in this new release includes, but is not limited to: the Company’s objective to
become a responsible supplier of critical minerals, exploration of the Company’s projects,
including expected costs of exploration and timing to achieve certain milestones, including timing
for completion of exploration programs; the Company’s ability to successfully fund, or remain
fully funded for the implementation of its business strategy and for exploration of any of its
projects (including from the capital markets ); any anticipated impacts of COVID -19 on the
Company’s business objectives or projects, the Company's financial position or operations, and
the expected timing of announcements in this regard. FLI involves known and unknown risks,
assumptions and other fa ctors that may cause actual results or performance to differ materially.
This FLI reflects the Company’s current views about future events, and while considered
reasonable by the Company at this time, are inherently subject to significant uncertainties and
contingencies. Accordingly, there can be no certainty that they will accurately reflect actual results.
Assumptions upon which such FLI is based include, without limitation: current market for critical
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minerals; current technological trends; the business relationship between the Company and its
business partners; ability to implement its business strategy and to fund, explore, advance and
develop each of its projects, including results therefrom and timing thereof; the ability to operate
in a safe and effective manner; uncertainties related to receiving and maintaining exploration,
environmental and other permits or approvals in Quebec; any unforeseen impacts of COVID -19;
impact of increasing competition in the mineral exploration business, including the Co mpany’s
competitive position in the industry; general economic conditions, including in relation to currency
controls and interest rate fluctuations.
The FLI contained in this news release are expressly qualified in their entirety by this cautionary
statement, the “Forward -Looking Statements” section contained in the Company’s most recent
management’s discussion and analysis (MD&A), which is available on SEDAR at
www.sedar.com, and on the investor presentation on its website. All FLI in this news release are
made as of the date of this news release. There can be no assurance that such statements will prove
to be accurate, as actual results and future events could differ materially from those anticipated in
such statements. Accordingly, readers should not pl ace undue reliance on forward -looking
information. The Company does not undertake to update or revise any such forward- looking
statements or forward -looking information contained herein to reflect new events or
circumstances, except as may be required by applicable securities laws.
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. No stock exchange, securities commission o r other
regulatory authority has approved or disapproved the information contained herein.
On behalf of the Board,
Belinda Labatte
CEO and Director, Lomiko Metals Inc.
For more information, please contact:
Kimberly Darlington
514-771-3398