Lomiko Metals Inc. - Private Placement ($700,000 Hard Dollars)

#439, 7184 120th Street, Surrey, BC, V3W 0M6● Ph: (778) 228- 1170 ● Fax: (604) 583-1932 ● Website: www.lomiko.com

September 29, 2020 TSX-V SYMBOL: LMR

Lomiko Metals Inc. - Private Placement

($700,000 Hard Dollars)

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Lomiko Metals Inc. (“Lomiko” or “the Company”) (TSX-V: LMR) announces it has received conditional approval

from the TSX Venture Exchange to a private placement to raise $700,000. The Company proposes to proceed with

the private placement of 14,000,000 units at $0.05. Each unit will be comprised of one common share and one warrant,

with each whole warrant exercisable into one common share at a price of $0.10 for a period of two years from closing.

Closing of the private placement is anticipated to be October 30, 2020. All securities will be subject to a four-month

plus one day hold period from closing.

Proceeds of the private placement will be used for working capital.

The Company may pay commissions or a finder’s fee in accordance with the policies of the TSX-V.

The issuance of the securities is subject to the final approval of the TSX Venture Exchange.

ON BEHALF OF THE BOARD

A. Paul Gill,

CEO & Director

Disclaimer for Forward-Looking Information:

Certain statements in this release are forward -looking statements which reflect the expectations of management. Forward-looking statements

consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the

future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ m aterially

from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will

occur or, if they do occur, what benefits the Company will obtain from them. These forward -looking statements reflect management's current

views and are based on certain expectations, estimates and assumptions which may prove to be incorrect.

Neither 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 release .