Lomiko Announces Work Program on Yellow Fox, Antimony, Silver, and Gold Property located in central Newfoundland for Spring 2025
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Lomiko Announces Work Program on Yellow Fox, Antimony, Silver, and Gold Property
located in central Newfoundland for Spring 2025
Montreal, Quebec – March 12, 2025 - Lomiko Metals Inc. (TSX-V: LMR) (“Lomiko” or the
“Company”) is pleased to announce an update on the Yellow Fox, antimony, silver, and gold
property acquired from Metals Creek as per news release issued on January 21 st, 2025
(https://lomiko.com/2025-news/lomiko-announces-definitive-agreement-for-acquisition-of-the-
yellow-fox-antimony-silver-and-gold-property-located-in-central-newfoundland/).
This property is on the same trend as the past-producing antimony mine Beaver Brook, which is
located 25km southwest of the property. Yellow Fox is an early-stage exploration property
prospective in antimony, gold, and silver where historic works returned samples anomalous in gold
(Au), antimony (Sb), lead (Pb), zinc (Zn), and silver (Ag). The trenching exposed the rocks, resulting
in grab samples to 59.43g/t Au, 11.10% Sb, 7.00% Zn, 72.90g/t Ag, and 5.50% Pb in arsenopyrite-
stibnite veins within altered monzogranite. (See Metals Creek assessment report at
https://gis.geosurv.gov.nl.ca/geofilePDFS/Batch2016/002D_0779.pdf)
Gordana Slepcev, CEO, President, and Director, stated: “We are pleased to move forward with the
Phase 1 work program at the Yellow Fox property with a targeted soil sampling program to take
place in the spring. The plan is to complete 10 lines at 250 meters spacing and collect approximately
700 soil samples to better define existing highly prospective antimony and silver and gold targets as
well as further evaluate south of the Yellow Fox showing where little to no work has been performed
historically. We are happy to be working with Metals Creek, who will manage and complete the
work program for Lomiko.”
Yellow Fox antimony and gold prospect Spring 2025 Work Program
The Company reviewed existing data and devised a plan for the fieldwork program in the spring of
2025.
Phase 1 of the plan in the spring is focused on soil sampling with the following highlights:
• Soil sampling program targeted south of Yellow Fox, showing 59.413 g/t gold and areas of
increased density of interpreted structures, See Figure 1.
• Approximately 700 soil samples on ten 250m spaced lines trending approximately 110
degrees with samples taken every 25m along the line.
• Should the soil sampling program be proven effective, expansion of the lines and
additional lines to the south are warranted, which would be the focus of the Phase 2
program.
• Phase 2 will see the soil sampling completed on the 250-meter parallel grids at 25-meter
spacing covering the southern end of the property.
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• Phase 2 will also focus on ground truthing existing targets as well as following up on
newly generated targets
• Depending on the results of the phase 1 testing, a targeted EM survey will be undertaken.
Please note that the results on an adjacent or nearby property (Beaver Brook) are not necessarily
what can be expected on the Yellow Fox project and that the results of surface or grab samples, by
their nature, this type of sample is selective and that the assay results may not be indicative of
underlying mineralization.
Location Details
The Yellow Fox Property is located approximately 10 km southwest of the Town of Glenwood NL,
and south of the Trans-Canada Highway. The Property occurs within NTS map sheets 02D/14 and
15 with excellent access along several logging and skidder roads originating from Glenwood. The
main Yellow Fox showing is located in the central part of License 027536M, 5km from the western
end of Gander Lake. The property is centered at approximately UTM (NAD 27) grid coordinates
5,419,400m North and 645,300m East.
Geologically, Yellow Fox exhibits similar traits to that of Beaver Brook with cross-cutting structural
zones which show intense carbonate alteration with sulphide-bearing stringers to veins of stibnite
and arsenopyrite with similar high-grade tenors of antimony, gold, lead, zinc, and silver.
Arsenopyrite is also present in both locations. Two prominent fracture vein sets are present, one
being the muscovite-pyrite-rutile veins trending 356 degrees and the second stibnite-quartz-
arsenopyrite being the most abundant and trending 025 degrees. Both these veins sets are similar to
that of the past producing Beaver Brook antimony Mine and with both vein sets trending in N to NE
which is same as the prospective regional structures.
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Figure 1. Yellow Fox Soil Sampling Work Program Phase 1
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Qualified Person for technical content at Yellow Fox
The technical information in this press release has been prepared and approved by Gordana
Slepcev, P.Eng, who is registered in Ontario as a qualified person as defined by NI 43-101
guidelines. Gordana Slepcev is a CEO & President of Lomiko Metals. QP relied on the
information provided by Metals Creek. Metals Creek QP is Wayne Reid, P.Geo. is registered in
Newfoundland and is a director of Metals Creek.
About Lomiko Metals Inc.
The Company holds mineral interests in its La Loutre graphite development in southern Quebec.
The La Loutre project site is 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 kilometers northwest of Montreal, the
property consists of one large, continuous block with 76 mineral claims totalling 4,528 hectares
(45.3 km2).
The La Loutre Property is underlain by rocks from 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.
Lomiko published an updated Mineral Resource Estimate (“MRE”) in a NI 43-101 Technical Report
and Mineral Resource Estimate Update for the La Loutre Project, Quebec, Canada, prepared by
InnovExplo on May 11th, 2023, which estimated 64.7 million tonnes of Indicated Mineral
Resources averaging 4.59% graphitic carbon (Cg) per tonne for 3.0 million tonnes of graphite, a
tonnage increase of 184%. Indicated Mineral Resources increased by 41.5 million tonnes as a result
of the 2022 drilling campaign, from 17.5 million tonnes in 2021 MRE with additional Mineral
resources reported down-dip and within marble units resulted in the addition of 17.5 million tonnes
of Inferred Mineral Resources averaging 3.51% Cg per tonne for 0.65 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 Indicated Mineral Resource category, relative to the 2021 Mineral
Resource Estimate. 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 has earned-in its 49% stake in the Bourier Project from Critical
Elements Lithium Corporation as per the option agreement 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 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.
The Company also holds interest in seven early-stage projects in southern Quebec, including
Ruisseau, Tremblant, Meloche, Boyd, Dieppe, North Low and Carmin, covering 328 claims in total
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on 7 early-stage projects covering 18,622 hectares in the Laurentian region of Quebec and within
KZA territory.
The Company acquired Yellow Fox's antimony, gold, silver, lead, and zinc target from Metals Creek
on January 21st, 2025. The Option term is two years.
On behalf of the Board,
Gordana Slepcev
CEO & President and Director, Lomiko Metals Inc.
For more information on Lomiko Metals, review the website at www.lomiko.com.
Contact us at 1-833-4-LOMIKO or e-mail: [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 “forward-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”, “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: expected timing of completion
of the closing conditions in connection with the acquisition and closing of the acquisition, expected
costs of exploration and timing to achieve certain milestones, 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).
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: the ability of the Company to meet the closing conditions of the acquisition, including
regulatory approval, and complete the transaction within the anticipated timing; ability to implement
its business strategy and to fund, explore, advance and develop each of its projects, including results
therefrom and timing thereof; uncertainties related to receiving and maintaining exploration,
environmental and other permits or approvals in Quebec; 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
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www.sedarplus.ca, 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.