Lomiko Metals Announces Closing of the Second Tranche of the Hard Dollar Financing and First Tranche of Flow-Through Financing and Extension of the Flow-Through Financing
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Lomiko Metals Announces Closing of the Second Tranche of the Hard Dollar
Financing and First Tranche of Flow-Through Financing and Extension of the
Flow-Through Financing
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
May 29th, 2025 – Montreal, Québec: Lomiko Metals Inc. (TSX.V: LMR) (“Lomiko” or the
“Company”) announces that it will apply to the TSX Venture Exchange (“TSXV”) for approval to
close the second tranche of the hard dollar financing and a first tranche of the flow -through
financing for $113,500 and $109,999.86 respectively.
The Company anticipates to issue (1) 840,741 common shares at $0.135 along with a warrant
exerciseable for three years at $0.20 for gross proceeds of $113,500; and (2) 647,058 flow-through
common shares at $0.17 with a warrant exerciseable for two years at $0.20 for gross proceeds of
$109,999.86.
A cash finder's fee of 5% or $10,675 has been agreed to be paid.
All securities issued shall be subject to a hold period expiring four months and one day from their
date of issuance. Completion of the financing and the issuance of the securities remain subject to
receipt of all necessary regulatory approvals, including the approval of the TSXV.
The Company intends to use the proceeds of the hard dollar financing to continue the engineering
phase of the prefeasibility study of the La Loutre graphite project, progressing with the bulk sample
and anode piloting at the La Loutre project, explore the Company’s Yellow Fox property, regional
graphite exploration, and general working capital purposes.
The gross proceeds from the issuance of flow -through common shares will be used to incur
resource exploration expenses, which will constitute “Canadian exploration expenses” as defined
in subsection 66.1(6) of the Income Tax Act “flow-through critical mineral mining expenditures”
as defined in subsection 127(9) of the Income Tax Act (the “Qualifying Expenditures ”), which
will be incurred on or before December 31, 2026 and will be renounced with an effective date no
later than December 31, 2025 to the subscribers of flow -through common shares in an aggregate
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amount not less than the gross proceeds raised from the issue of the flow-through common shares.
For subscribers of flow-through common shares that are residents of Québec at all relevant times,
the Qualifying Expenditures shall qualify for inclusion in the “exploration base relating to certain
Québec exploration expenses” within the meaning of section 726.4.10 of the Taxation Act
(Québec) and expenses qualifying for inclusion in the “exploration base relating to certain Québec
surface mining expenses or oi l and gas exploration expenses within the meaning of section
726.4.17.2 of the Taxation Act (Québec).
Gordana Slepcev, CEO, President, and Director, stated: “We are pleased to close the second
tranche of the private placement as we have achieved our current funding goals. The hard dollars
will be used to continue the pre-feasibility level of the engineering studies and for the independent
road access study for the La Loutre natural flake graphite deposit. The proceeds from the flow -
through financing will support other strategic initiatives, including the bulk sample and anode
piloting at the La Loutre project, exploring the Company’s Yellow Fox property, regional graphite
exploration, and work related to permitting .”
The Company further advises that it will seek approval of the TSX-V for a second extension to the
closing of a 2 nd flow-through tranche to June 30, 2025, details of which are disclosed in the
Company’s original press release dated April 1, 2025.
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 totaling 4,528 hectares
(45.3 km2).
The 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 Metals 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% 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-
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off grade of 1.50% Cg (graphitic carbon). The independent and qualified persons for the mineral
resource estimate, as defined by NI 43 101, are Marina Iund, P.Geo. (InnovExplo Inc.), Martin
Perron, P.Eng. (InnovExplo Inc.)., Simon Boudreau, P.Eng. (InnovExplo Inc.). and Pierre Roy,
P.Eng. (Soutex Inc.). The effective date of the estimate is May 11, 2023.
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 on 7 early -stage projects covering 18,622 hectares in the Laurentian region of Quebec and
within KZA territory.
The stage graphite portfolio consists of 328 claims in total on seven early-stage projects covering
18,622 hectares in southern Quebec. The grades presented below for the Laurentides graphite
portfolio were press -released on January 7 th, 2025. ( https://lomiko.com/news/lomiko-metals-
encounters-up-to-27-9-graphite-at-its-laurentides-early-stage-projects-including-the-discovery-of-four-
new-zones-at-the-ruisseau-project-spanning-over-3-kilometres-long/)
• Ruisseau –grades up to 27.9 percent carbon graphite (“% Cg”) from four distinct high grade
mineralized zones that are over 3km long;
• Meloche –grades up to 13.3% Cg from two distinct mineralized clusters;
• Tremblant –grades up to 11.6% Cg from numerous, widespread spot anomalies; and
• Dieppe –grades up to 6.82% Cg from numerous, widespread spot anomalies and a distinct
mineralized cluster.
• Boyd–8 samples grades range from 5.61% Cg to 17.10 %Cg with all samples above 5.00% Cg.
The technical content regarding the exploration results presented was reviewed by Mark Fekete,
P.Geo. who acts as an independent consultant to the Company and is the Qualified Person.
In addition to La Loutre, Lomiko has earned a 49% stake in the Bourier Project from Critical
Elements Lithium Corporation as per the option agreement announced on April 27 th, 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 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 origi nating from
Glenwood. The main Yellow Fox showing is located in the central part of License 027536M, 5km
from the western end of Gander Lake.
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 mo nzogranite. (See Metals Creek assessment report at
https://gis.geosurv.gov.nl.ca/geofilePDFS/Batch2016/002D_0779.pdf)
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Lomiko QP relied on the information provided by Metals Creek. Metals Creek QP is Wayne
Reid P.Geo. is registered in Newfoundland.
On behalf of the Board,
Gordana Slepcev
CEO & President and Director, Lomiko Metals Inc.
Signed: “Gordana Slepcev”
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: the total gross proceeds of the Offering, the use
of proceeds of the Offering, the timing and successful completion of the Offering; 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);, 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.
The FLI in this news release 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 Company’s, ability to implement its overall business
strategy and to fund, explore, advance and develop each of its projects, including results therefrom and timing thereof, the impact of increasing
competition in the mineral exploration business, including the Company’s competitive position in the industry, and 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.sedarplus.ca. 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 such forward -looking information. The Company does not undertake to update or revise any 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.