Lomiko Metals Continues to Expand on Newly Discovered REE Anomalies at the Yellow Fox Critical Metals/REE Property Located in Central Newfoundland April 7h, 2026 – Montreal, Québec: Lomiko Metals Inc. (TSX.V: LMR) (“Lomiko” or the
#439, 7184 120th Street, Surrey, BC, V3W 0M6● Ph: (778) 228-1170 ● Fax: (604) 583-1932 ● Website: www.lomiko.com
Lomiko Metals Continues to Expand on Newly Discovered REE Anomalies at
the Yellow Fox Critical Metals/REE Property Located in Central
Newfoundland
April 7h, 2026 – Montreal, Québec: Lomiko Metals Inc. (TSX.V: LMR) (“Lomiko” or the
“Company”) is pleased to announce results from additional REE analysis on 32 samples from the
Phase II soil sampling program at the Yellow Fox Property. Recent success from the 2025 Phase
II soil sampling program resulted in the identification of new REE anomalies (Cerium (Ce) and
Lanthanum (La)). These positive results led to re-running seven samples with a rare-earth ICP
package, yielding highly anomalous Light Rare Earth Element (LREE) and Heavy Rare Earth
Element (HREE) assays hosted within the Mount Peyton Intrusion. This new REE discovery
prompted the submission of 32 additional samples for REE analysis, which will serve as the basis
for this release.
Highlights:
Highly elevated Dysprosium (Dy) and Terbium (Tb) results. Both Dy & Tb are used in High
Performance Magnets and are essential for high-heat magnet applications.
Highly anomalous HREE + Y samples demonstrate a potential HREE-enriched system.
Pervasive Yttrium values in close spatial association with Dysprosium
Strong HREE+Y/LREE Ratios indicate the higher value of REE projects as the HREEs are
more sought after and entitle higher selling prices.
Multiple samples exceeding HREE+Y/LREE ratios of 0.5, which is very rare
Gordana Slepcev, CEO, President, and Director, stated: We are very happy to build on the
encouraging results from the soil sampling program, with an additional 32 samples processed with
the REE package, identifying further REE anomalies and outlining the Yttrium potential on the
land package. The results from these additional 32 assays confirm continuity of the previously
identified zones and exhibit highly elevated LREE accompanied by HREE, including Yttrium (Y),
over a minimum length of 1200m, indicating a mixed LREE and HREE mineralized system with
highly anomalous values in Dysprosium and Terbium, with select samples up to 10 to 20 times
background values. We're very encouraged to see those elevated values as Dy and Tb are
considered the two most sought-after HREEs due to their scarcity and high value.”
These results are from additional REE analysis from the Phase II soil sampling and prospecting
program (See News Release September 23, 2025) on the Yellow Fox Antimony property and
follow-up to the initial 7 samples assayed for REE’s (See News release January 14, 2026). Lomiko
acquired the Yellow Fox Project from Metals Creek in 2025. (See MEK news release dated January
21st, 2025).
Results from these 32 assays (See Table 2) continue to exhibit strong LREE enrichment (La-Ce-
Pr-Nd-Eu) accompanied by highly elevated HREE (Dy-Tb-Ho-Er-Tm-Yb-Lu), including Yttrium
(Y), over a minimum length of 1200m, indicating a mixed LREE and HREE mineralized system
hosted by what is interpreted to be a highly fractionated peralkaline granite. These peralkaline
granites are considered to be one of the primary hosts for HREE enriched systems. Assays revealed
an enriched REE system with highly anomalous HREEs, including Dysprosium (Dy) and Terbium
(Tb), with select samples up to 10 to 20 times background (See Figure 1).
Figure 1: HREE+Y/LREE and LREE Anomalies
This latest batch of assays at Yellow Fox continues to return highly encouraging results,
characterized by an unusually high ratio of Heavy Rare Earth Elements (HREE) and Yttrium
(Y) relative to Light Rare Earth Elements (LREE) . Ratio’s as high as 1.25 has been achieved
with a large majority of these Re-Assay results achieving ratio’s greater than 0.20. These results
illustrate this REE system is HREE enriched. Yttrium (Y) values are highly enriched making up
61 to 69 percent of the HREE+Y totals. The enrichment of Yttrium (See Figure 2) is highly
encouraging in that it is almost always associated with Dysprosium (Dy), serving as a strong
pathfinder. Dy’s primary value lies in its ability to allow Neodymium Magnets to maintain their
strength at high temperatures, making it indispensable for electric vehicle (EV) motors and wind
turbines. This enrichment of Y+Tb+Dy is a critical indicator for the identification of high priority
HREE targets (See Figure 1) within the Yellow Fox project, highlighting the potential host the
high-demand rare earth minerals required for high-performance magnets.
The exploration potential at yellow fox is underpinned by what appears to be a highly specialized
geological environment, characterized by a highly fractionated peralkaline granite host and
a highly evolved magmatic system . These specific granitic systems are recognized as primary
sources for Heavy Rare Earth Elements (HREE) because their unique chemistry allows
incompatible elements like Dysprosium, Terbium, and Yttrium to remain in the melt until the final,
most enriched stages of crystallization.
The presence of such a highly evolved system is further confirmed by the identification of
elevated Gallium (Ga) and Rubidium (Rb) . These elements serve as critical geochemical
indicators, often correlating with the presence of HREE-hosting accessory minerals such
as zircon and xenotime. Assays up to 41.9 ppm Gallium and 194.6 ppm Rubidium exhibit
geochemical pathfinders for this potential rare earth system. In peralkaline systems, such elevated
Gallium is a primary indicator of extreme magmatic differentiation, where rare metals are
concentrated in the final stages of crystallization. Rubidium (Rb) values reached a peak of 194.6
ppm, with a broad distribution of samples exceeding 150 ppm. High Rubidium is another strong
indication for a highly evolved granitic system.
The simultaneous enrichment of Ga, Rb, and Yttrium (Y) alongside highly elevated
HREE+Y/LREE ratio’s up to 1.25 creates a highly prospective geochemical signature. High Zr
levels are also present, averaging 546 ppm with values up to 1169 ppm, in conjunction with
elevated niobium (Nb), further validating the presence of a potentially highly fractionated magma.
The geochemistry of the Yellow Fox project continues to point toward a highly evolved
peralkaline granite that has similar characteristics to alkaline granites of the Strange Lake
Complex. With HREE+Y/LREE ratios up to 1.25 and heavy Yttrium content (61-69% of HREE),
this aligns well with Strange Lake, which is considered to be rich in HREE oxides. The highly
anomalous Zr and Rb paired with moderate Nb and Ga pathfinders are strong geochemical
signatures of a peralkaline A-type granite like the Strange Lake Alkalic Complex located in
Labrador.
Figure 2: Yttrium (Y) anomalies demonstrating high-grade and broad widespread assays
Table 1 -Initial 7 sample Re-Run Soil Samples with Rare Earth Assay Package
Table 2: Follow-up Re-Run Soil Samples with Rare Earth Package
Rare earth metals are essential to modern technology, enabling high-performance electronics,
clean energy, and defense systems to operate at high temperatures. A renewed focus on exploration
is underway for REEs with particular emphasis on HREEs like dysprosium and terbium, which
are vital for the permanent magnets used in electric vehicle (EV) motors and wind turbines. Beyond
green tech, these metals are highly important for miniaturizing components in smartphones and
medical devices, as well as powering precision-guided missiles and radar systems.
Sample
La
ppm
Ce
ppm
Pr
ppm
Nd
ppm
Sm
ppm
Eu
ppm
Gd
ppm
Tb
ppm
Dy
ppm
Ho
ppm
Er
ppm
Tm
ppm
Yb
ppm
Lu
ppm
Y
ppm
TRE + Y
(ppm)
TRE + Y
(%)
L1-60 359 2,265 139 586 151 15 134 19 97 17 47 6 43 6 362 4,245 0.42%
L5-61 442 1,662 192 890 249 28 263 36 191 36 98 13 84 13 980 5,176 0.52%
L5-24 277 1,246 82 331 81 8 74 10 50 8 21 3 17 2 190 2,400 0.24%
L4-37 318 1,186 93 383 81 7 73 9 43 7 19 2 14 2 200 2,438 0.24%
L5-25 154 1,096 46 186 45 5 44 7 36 6 18 2 16 2 150 1,812 0.18%
L1-48 217 798 64 258 60 6 53 7 36 6 17 2 15 2 154 1,697 0.17%
L8-53 208 724 59 232 56 5 55 9 50 9 25 3 21 3 225 1,683 0.17%
LIGHT RARE EARTHS HEAVY RARE EARTHS
Light Rare Earths Heavy Rare Earths
Sample
La
ppm
Ce
ppm
Pr
ppm Nd ppm
Sm
ppm
Eu
ppm
Gd
ppm
Tb
ppm
Dy
ppm
Ho
ppm
Er
ppm
Tm
ppm
Yb
ppm
Lu
ppm Y ppm
LREE
ppm
HREE+Y
ppm
Total REE
ppm
HREE+Y
/LREE
L1-30 15.20 61.00 3.78 15.20 3.77 0.79 4.49 0.90 6.58 1.50 4.96 0.81 5.61 0.92 37.50 104 59 163 0.56
L1-31 79.50 454.00 23.86 96.60 23.80 2.74 22.57 3.62 20.90 3.96 11.57 1.73 11.19 1.61 92.10 703 147 850 0.21
L1-36 44.70 106.00 9.11 32.90 7.70 1.08 12.41 2.70 20.24 4.53 14.29 2.23 14.66 2.14 115.00 214 176 390 0.82
L1-38 158.80 568.00 42.08 164.60 37.00 3.47 34.01 5.42 32.01 6.32 18.49 2.72 17.69 2.63 156.70 1,008 242 1,250 0.24
L1-40 67.30 233.00 14.48 52.50 12.11 1.36 16.18 3.25 22.09 4.73 14.23 2.15 13.92 2.03 125.00 397 187 584 0.47
L1-44 24.50 85.00 6.63 26.30 6.57 1.05 6.53 1.19 7.58 1.57 5.00 0.79 5.45 0.83 38.20 157 61 217 0.39
L1-50 9.70 20.00 2.03 7.50 1.94 0.48 3.25 0.79 5.94 1.40 4.67 0.75 5.16 0.82 34.50 45 54 99 1.20
L1-58 54.60 222.00 25.28 121.00 33.12 3.31 28.24 3.64 17.36 2.92 7.70 1.04 6.57 0.92 57.20 488 97 585 0.20
L2-24 50.10 362.00 12.42 48.30 11.14 1.30 11.39 2.05 12.80 2.64 8.07 1.15 7.69 1.10 65.70 497 101 598 0.20
L2-28 46.10 117.00 11.94 47.10 10.94 1.39 10.85 1.79 10.91 2.25 6.70 0.99 6.47 0.94 55.60 245 86 331 0.35
L2-32 55.10 180.00 13.01 49.60 11.56 1.40 13.62 2.60 17.15 3.72 11.52 1.67 11.34 1.67 95.00 324 145 469 0.45
L2-40 27.30 367.00 6.31 24.40 5.83 0.80 7.82 1.68 12.04 2.69 8.64 1.33 8.90 1.30 66.40 439 103 542 0.23
L3-32 83.00 683.70 28.13 119.10 31.37 3.36 29.52 4.57 24.97 4.29 11.51 1.59 9.85 1.26 84.70 978 143 1,121 0.15
L3-33 58.80 117.00 11.47 39.30 8.37 1.00 13.57 3.26 24.11 5.40 17.17 2.50 16.44 2.34 133.70 250 205 454 0.82
L3-36 52.60 250.00 14.08 56.50 13.95 1.68 16.04 3.07 20.24 4.13 12.60 1.85 12.07 1.70 102.20 405 158 563 0.39
L3-37 39.70 73.00 6.75 22.10 4.32 0.63 8.53 2.31 18.21 4.21 13.49 2.05 13.56 1.97 109.80 155 166 321 1.07
L3-48 163.00 464.00 33.06 119.00 25.09 2.51 27.04 4.57 26.58 5.21 15.03 2.11 13.26 1.96 141.00 834 210 1,043 0.25
L4-38 16.60 48.00 4.75 20.10 5.05 0.84 5.47 0.97 6.34 1.34 4.42 0.67 4.81 0.75 34.10 101 53 154 0.53
L4-39 47.00 244.90 15.81 66.70 16.70 1.95 16.94 2.55 14.09 2.71 7.84 1.10 7.59 1.12 63.90 410 101 511 0.25
L4-44 87.30 180.00 19.84 74.70 15.79 1.45 18.56 3.61 24.80 5.34 16.85 2.43 15.97 2.26 136.80 398 208 606 0.52
L4-50 30.20 70.00 5.79 20.00 4.52 0.67 8.26 2.03 15.49 3.49 11.26 1.70 11.36 1.66 90.70 139 138 277 0.99
L4-51 108.20 302.00 29.69 119.00 26.82 2.70 26.18 3.95 22.71 4.42 12.70 1.74 11.57 1.63 112.20 615 171 786 0.28
L5-21 60.50 246.00 14.76 56.80 12.91 1.52 13.85 2.57 17.28 3.53 10.97 1.60 10.86 1.57 89.40 406 138 544 0.34
L5-23 154.20 31.00 45.75 186.20 45.13 4.53 44.28 6.63 35.84 6.36 17.59 2.37 15.58 2.09 149.50 511 236 747 0.46
L5-26 112.90 615.70 34.82 146.30 36.36 3.70 35.05 5.30 28.61 5.03 13.70 1.83 11.32 1.49 110.30 985 178 1,162 0.18
L5-35 103.60 557.30 35.73 157.50 40.04 4.30 38.56 5.58 29.97 5.36 14.88 2.04 13.01 1.70 112.50 937 185 1,122 0.20
L5-40 63.40 145.00 12.89 45.60 9.45 0.98 12.00 2.58 18.88 4.26 14.20 2.13 14.73 2.24 113.60 289 173 462 0.60
L5-63 47.80 115.00 11.16 41.90 9.29 0.92 12.71 2.68 18.31 3.90 12.22 1.76 11.79 1.68 98.90 239 151 390 0.63
L5-64 28.90 61.00 5.30 18.20 4.10 0.53 7.69 2.01 16.41 3.93 13.30 2.07 13.88 2.06 103.90 126 158 283 1.25
L6-62 44.40 107.00 9.87 36.30 7.79 0.83 10.96 2.37 16.28 3.44 10.35 1.48 9.99 1.42 89.80 217 135 352 0.62
L8-43 81.40 500.00 23.77 96.60 22.68 2.13 21.36 3.28 18.03 3.36 9.45 1.24 7.99 1.04 75.90 748 120 868 0.16
L8-57 122.90 566.00 36.58 145.20 36.38 3.40 35.27 5.82 34.31 6.52 19.35 2.68 17.45 2.39 151.50 946 240 1,186 0.25
L11-61 35.30 108.80 9.89 40.70 9.31 1.20 9.67 1.61 9.90 2.05 6.46 0.90 6.07 0.87 51.60 215 79 294 0.37
The rare earth market is currently characterized by a significant supply-demand imbalance and
extreme geographic concentration. China dominates the sector, accounting for approximately 70%
of global mine production and 90% of refined supply. This has created a tight market where even
minor export restrictions can cause immediate global shortages and price volatility. Future demand
is projected to surge significantly in the coming decades, making exploration for HREEs all the
more critical.
Strategic growth in the green technology and defense sectors will drive increased demand for
REEs. Primary drivers for the increased use of REE’s include wind turbines, electric vehicles,
defence and aerospace as well as advanced electronics.
Last summer saw the identification of several expansive, untested critical metal soil anomalies
(Sb-Pb-Zn-Ag-Au) up to 1200m in length, as well as the discovery of highly anomalous LREE
and HREE anomalies. These REE results in conjunction with the results discussed in this release
further indicate a second type of highly prospective untested targets with highly anomalous LREE
and HREE assays. These results will form the basis of this coming summers exploration plans for
yellow fox.
Yellow Fox antimony and REE prospect exploration – future steps
• Next work phase will include additional RE-assaying of previously collected soil samples
for LREE and HREE as well some infill sampling to better define true extent of these REE
anomalies
• Ground geophysics followed by surface trenching
• Line cutting, drilling, ground geophysics and surface trenching permits have been received.
• Surface stripping will be followed by channel sampling and geological mapping
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’s surface antimony showing and critical metal soil anomalies (Sb-Pb-
Zn-Ag-Au) exhibits similar traits to those of Beaver Brook with cross-cutting structural zones that
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 vein sets are similar to that of the
past producing Beaver Brook antimony Mine, and both vein sets trend in N to NE direction, which
is the same as the prospective regional structures. Yellow Fox has never been explored for REE’s.
Importantly, the project is underlain by the mount peyton intrusion which potentially appears to
be a fertile environment for the emplacement of REE’s. Soil sample results indicate that the mount
peyton intrusion may form part of a highly evolved peralkaline granite highly prospective for
LREE’s and HREE’s.
Yellow Fox is an early-stage exploration property prospective in antimony, Zinc, Lead, gold, silver
and more recently REE’s. Historic work has returned samples anomalous in gold (Au), antimony
(Sb), lead (Pb), zinc (Zn), gold (Au), and silver (Ag) which included trenching which exposed
bedrock. Results included grab samples up 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 https://gis.geosurv.gov.nl.ca/geofilePDFS/Batch2016/002D_0779.pdf
The surface grab samples described in this news release are selective by nature and are unlikely
to represent average grades on the property.
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.
Qualified Person
The technical content presented in this press release was reviewed and approved by Gordana
Slepcev, P.Eng., who is the CEO & President of Lomiko Metals and acts as the “Qualified Person”
as that term is defined under National Instrument 43-101, Standards of Disclosure for Mineral
Projects. Also, Wayne Reid, P.Geo, and director for the Corporation (MEK) and a qualified person
as defined in National Instrument 43-101, has reviewed and approved the disclosure of the
exploration information in this news release.
All 851 initial soil samples from this past summer’s programs were dried and then sent to Eastern
Analytical Ltd., located in Springdale, Newfoundland, Canada. Samples are analyzed by ICP34
method that delivers a 34-element package and analyzed by ICP-OES analytical technique with
blanks and standards inserted every 20-25 samples. The 32 samples in this press release were sent
to Bureau Veritas, located in Vancouver, British Columbia, Canada. Samples are analyzed by ICP-
OES utilizing multi acid digestion analytical technique. Standards and blanks were inserted to this
batch of samples.
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, are selective, and that the assay results may not be indicative of underlying
mineralization.
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