Lomiko Metals Identifies New Gold Showing and Extends Multi-Element Anomalies to the South at the Yellow Fox Antimony, Silver, and Gold Property Located in Central Newfoundland
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Lomiko Metals Identifies New Gold Showing and Extends Multi-Element
Anomalies to the South at the Yellow Fox Antimony, Silver, and Gold
Property Located in Central Newfoundland
September 23, 2025 – Montreal, Québec: Lomiko Metals Inc. (TSX.V: LMR) (“Lomiko” or the
“Company”) is pleased to announce the recently completed phase II soil sampling and prospecting
program on the Yellow Fox, antimony, silver, and gold property acquired from Metals Creek as
per news release issued on January 21st, 2025. (See LMR news release dated January 21, 2025).
Gordana Slepcev, CEO, President, and Director, stated: “We are very excited about this new gold
anomaly discovered with the second phase of the soil sampling, which builds on the great results
we have seen with the Phase 1 results. This gold anomaly , now identified to be almost a one-
kilometer-long, may extend south, and this is where we will focus with more soil sampling in
Phase 3. Also, we are amazed to see anomalous values of Cerium and the magnitude of the Rare
Earth anomalies with those soil sampling results spanning over 2.5 km long and individual
anomalies up to 400m in width. This is indicated in the older studies, but not actively seen along
the Dog Bay Line. In addition to the excellent soil sample results, the company also identified a
new showing (rock sample picture 1-4) that rendered a rock sample result of 1.3g/t Au. The
showing outcrops at the surface approximately 3 meters wide and 10 meters long. The focus now
will be to strip and trench this new showing to determine its extent and collect rock samples.”
In addition, Newfoundland has just been named on the Fraser Institute’s list of top mining
jurisdictions. Newfoundland & Labrador appears in the list of the top ten most attractive
jurisdictions for mining investment.
Source: https://www.fraserinstitute.org/studies/annual-survey-mining-companies-2024
The Company’s management has previous working experience in Newfoundland, which we
believe is highly promising for the company's future and was recently awarded a grant which is
now active under the Province’s critical mineral initiatives
Highlights:
• Extension of high-priority multi-element targets to the south, as shown in Figures 1-4.
• New gold showing with assays up to 1.3 g/t – new western clam block just west of the
Yellow Fox Showing.
• Soil sampling program successfully targeted stratigraphy south of Yellow Fox Showing,
which yielded 59.413 g/t gold and areas of increased density of interpreted structures. See
Figures 1-4.
• 264 additional soil samples were collected in the Phase 2 program on 250m spaced lines
trending 110 degrees. A total of 815 (Phase 1@551 and Phase 2 @264) samples were
collected.
• Several high-priority targets with a similar trend (015 °) to that of mineralized vein sets at
the Yellow Fox showing have been identified. See Figures 1-4.
Yellow Fox is an early-stage exploration property prospective in antimony, gold, and silver, where
historic work has returned samples anomalous in gold (Au), antimony (Sb), lead (Pb), zinc (Zn),
and silver (Ag). Previous trenching exposed bedrock, resulting in grab samples up to 59.43g/t Au,
11.10% Sb, 7.00% Zn, 72.90g/t Ag, and 5.50% Pb in arse nopyrite-stibnite veins within altered
monzogranite. (See Metals Creek assessment report at
https://gis.geosurv.gov.nl.ca/geofilePDFS/Batch2016/002D_0779.pdf)
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.
Based on the success of the phase I soil sampling program (See news release, August 12, 2025),
additional soil sampling (Phase II) was conducted, extending coverage further to the south (See
figure 1) as well as extending several lines to the west. This program was designed to further
extend prospective Phase I soil anomalies as well as evaluate the potential of regional structures
transecting the Yellow Fox property at roughly the same orientation as that of the Beaver Brook
Mine. Phase II soil sampling consisted of 264 soil samples on top of 551 samples collected from
phase I, which are mainly concentrated on the northern half of the project area.
Results from Phase II sampling continue to extend several highly prospective, multi-element (Au,
Sb, Ag, Zn, Pb, As, Fe, Mn, Ce) soil anomalies a further 500m to the south. These new anomalies
are trending roughly North(N) -Northeast(NE), similar to that of the highly prospective regional
structures, which also trend N -NE. Several high -priority multi-element anomalies continue to
trend to the south (See figure 1) based on phase II results.
A new gold showing has been identified through prospecting (See Figure 1: Sample Location
Map), returning an assay of 1.3 grams per tonne (g/t), with this being the only sample taken at this
location. This new gold showing is hosted within a zone of carbonatized granite with finely
disseminated pyrite and is located in an area where little to no exploration work has been
conducted. Further prospecting is planned this fall to further delineate and evaluate the
carbonatization alteration halo of this newly discovered gold mineralization.
The surface grab samples described in this news release are selective by nature and are unlikely
to represent average grades on the property.
Phase I and II soil sampling have proven highly successful in locating and delineating potential
mineralized structures on the Yellow Fox project, especially given the lack of outcrop. The next
stages will include line cutting and ground geophysics to better define the orientation and location
of high-priority targets, followed by surface trenching and a rare earths testing package within the
cerium anomaly.
In July, the Government of Newfoundland and Labrador’s Mineral Incentive Program officially
approved Lomiko’s application as filed, designating it as a “Critical Minerals as a Primary
Exploration Target” project. This prioritization ensures eligibility for CMA and PCMA funding.
Yellow Fox antimony and gold prospect exploration – future steps
• Planning for the ground geophysics, followed by surface trenching.
• Line cutting, ground geophysics, and surface trenching permits have been received.
• Surface stripping will be followed by channel sampling and geological mapping at the new
gold showing.
• Further evaluate and expand knowledge on the new west gold showing.
• Re-run the Rare Earth Elements (“REE”) specific test package for the assays outlining the
cerium anomaly to check for other RE E elements, including neodymium, praseodymium,
scandium, gallium etc.
• Collect soil samples on the additional 3-5 lines south of the new gold anomaly to determine
its extent.
• Cerium is used in producing glass, flat-screen TVs, low-energy light bulbs, and floodlights,
in industrial catalytic processes to reduce emissions and crack hydrocarbons, and in
manufacturing ceramics and steel.
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 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,
which is the same as the prospective regional structures.
Figure 1 – Gold results with interpretation
Figure 2 – Cerium results with interpretation
Figure 3 – Zinc results with interpretation
Figure 4 –Antimony results with interpretation
Figure 5 – Lead results with interpretation