Lomiko Announces Completion of Exploration Drilling for its La Loutre Graphite Project
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Lomiko Announces Completion of
Exploration Drilling for its La Loutre Graphite Project
Montreal, Quebec –September 13, 2022 – Lomiko Metals Inc. (TSX.V: LMR) (“Lomiko Metals”
or the “Company”) is pleased to announce that it has completed its infill and extension exploration
drilling program at its wholly-owned La Loutre graphite project , located within the Kitigan Zibi
Anishinabeg (KZA) First Nations territory within the Outaouais and Laurentides regions , 180
kilometers northwest of Montreal.
The comprehensive drill program featured 79 holes totaling 13,113 met res drilled; 53 of these,
totaling 9,037 metres, were drilled in the Electric Vehicles (“EV”) Zon e and 26 holes totaling
4,076 metres were drilled in the Battery Zone . T he Company is awaiting further assay results
which will be shared when available.
The Preliminary Economic Assessment ( PEA) for the La Loutre project confirmed that the EV
and Battery Zones are sources of material that, when processed, would yield concentrated graphite
of high purity over 95% graphitic carbon (Cg) (see press release of July 29, 2021 for more details).
The objective of the 2022 exploration campaign was to better understand the extent and quality of
the deposit and provide the required inputs for a pre-feasibility study.
Lomiko Metals thanks Breakaway Exploration Management of Québec for the supervision and
operation of the 2022 exploration drilling program at the La Loutre project and ensuring
compliance with ECOLOGO specifications. Lomiko also advises that it maintained its obligations
to ensure departure before the seasonal hunting that occurs on the northern end of the claim.
Lomiko has retained InnovExplo Consulting and Engineering to prepare an updated NI -43-101
resource estimate for the La Loutre project following the completion of the drilling and assay
results receipt.
Please refer to Figure 1 and 2 for details.
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Figure 1. EV Zone Drill Map
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Figure 2. Battery Zone Drill Map
Qualified Person
The technical content presented in this press release was reviewed by Mark Fekete, P.Geo. who
actively participated in the La Loutre drill program as an independent consultant to the Company
as the “Qualified Person” as that term is defined under National Instrument 43-101 – Standards of
Disclosure for Mineral Projects.
About Lomiko Metals Inc.
Lomiko Metals has a new vision and a new strategy in new energy. Lomiko represents a company
with a 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. Lomiko is ECOLOGO certified.
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
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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 1 large, continuous block with 76 minerals claims totaling 4,528 hectares
(45.3 km2). Lomiko Metals published a Preliminary Economic Assessment (“PEA”) on July 29,
2021 w hich indicated the project had a 15- year mine life producing per year 100,000 tonnes of the
graphite concentrate at 95%Cg or a total of 1.5Mt of the graphite concentrate. This report was
prepared as National Instrument 43- 101 Technical Report for Lomiko Metals Inc. by Ausenco
Engineering Canada Inc., Hemmera Envirochem Inc., Moose Mountain Technical Services, and
Metpro Management Inc., collectively the Report Authors. 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 hec tares (102.52
km2), in Canada’s lithium triangle near the James Bay region of Quebec that has historically
housed lithium deposits and mineralization trends.
For more information on Lomiko Metals, review the website at www.lomiko.com, contact Belinda
Labatte at 647-402-8379 or email: [email protected].
Cautionary Note Regarding Forward-Looking Information
This news release 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 release about the
Company; and any other information herein that is not a historical fact may be "forwar d-looking
information" (“FLI”). All statements, other than statements of historical fact, are FLI and can be
identified by the use of statements that include words such as "anticipates", "plans", "continues",
"estimates", "expects", "may", "will", "project s", "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 res ponsible supplier of critical minerals, exploration of the Company’s projects,
including expected costs of exploration and timing to achieve certain milestones, including
satisfactory completion of due diligence and ability to reach an agreement with third party owners
in connection with projected acquisitions, 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 factors 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: potential of future acquisitions presently evaluated by the Company; current
market for critical minerals; current technological trends; the business relationship between the
Company, local communities 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
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receiving and maintaining exploration, environmental and other permits or approvals in Q uebec;
any unforeseen impacts of COVID-19; impact of increasing competition in the mineral exploration
business, including the Company’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 place 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 or 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
Investor Relations, Lomiko Metals Inc.
514-771-3398