Lomiko Reviews 2020 and Looks Forward to 2021 Developments
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LOMIKO REVIEWS 2020 AND LOOKS FORWARD TO 2021 DEVELOPMENTS
(Vancouver, Canada December 30th, 2020) Lomiko Metals Inc. (“Lomiko”) (TSX-V:
LMR, OTC: LMRMF, FSE: DH8C) is focused on the exploration and development of
graphite for the new green economy. Despite the negative affects of COVID, Lomiko
Management are happy to report the company has moved made significant strides forward
over the last year.
2020 La Loutre Flake Graphite Property Developments
Lomiko formed a La Loutre Technical, Safety and Sustainability Committee (“LTSSC”),
reporting to the Board of Directors. The LTSCC is comprised of A. Paul Gill, CEO and
Directors, Gabriel Erdelyi and Gregg Jensen. The LTSSC will oversee the assessment of
the La Loutre Flake Graphite Property , and liaise with service providers, technical staff
and stakeholders to put forward a series of crucial technical documents including, but not
limited to, a Scope of Work (SOW), Graphite Characterization and Metallurgy, Response
for Proposal (RFP) on a Preliminary Economic Assessment, and, if required, pre -
feasibility, bulk samples, pilot plant, feasibility and construction plans. The Committee
will govern the hiring of technical staff, liaise with extra -company agencies and
representatives, and provide a conduit to the Board of Directors to make crucial decisions
on the project. The Board and Committee has accepted a proposal by SGS Canada Inc. to
conduct a Metallurgical Process Development Program with results due in early 2021.
New Board Members
Mr. Mike Petrina joined the Lomiko Board and the Lomiko Technical, Safety and
Sustainability C ommittee (“LTSSC”) has appointed him the Project Manager for
development of La Loutre. Mr. Petrina has years of executive experience with Adanac
Molybdenum, Hawthorne Gold, MAG Silver and Probe Minerals. Mr. Petrina’s extensive
experience with advanced stage projects in the Pre-economic Assessment (PEA) Stage will
be extremely helpful as Lomiko proceeds with the La Loutre Project.
Also, Mr. Gregg Jensen joined the Lomiko Board. He has over 25 years experience in
Finance and Business management spanning several industries from technology, mining,
engineering, to professional services.
Kenmar Securities Engaged to Raise $ 40 Million Cdn
Lomiko Metals engaged Kenmar Securities, LLC of New York (“The Advisor”) to raise $
40 million Cdn for acquisition and development of critical metals projects. Kenmar
Securities, LLC, is a Delaware limited liability corporation and SEC registered securities
broker dealer and FINRA member.
The Advisor will assist the Company in analyzing its business, operations, properties,
financial condition and prospects, prepare suitable m arketing materials, contact any
potential partner companies, assist and advise the Company with respect to the financial
form and structure of any potential transaction.
Government Support for Critical Minerals Supply Chain Development
Lomiko has been m onitoring emerging legislation aimed at reducing dependence on
Chinese supply of graphite, lithium and other electric vehicle battery materials. 100% of
graphite is currently imported to the United States as there is no domestic graphite mines
able to produce material for graphite anodes used in Electric Vehicles. Please also refer to
news release September 9, 2020 and October, 7 2020 related to changing government
policies regarding critical minerals.
US Election Bonus for Critical Minerals Companies
In a boon for the critical minerals mining industry, President-elect Joe Biden’s committed
to a historic investment in clean energy and innovation, developing rigorous new fuel
economy standards aimed at ensuring 100% of new sales for light - and medium -duty
vehicles will be zero emissions and annual improvements for heavy duty vehicles;
Biden will invest $400 billion over ten years, as one part of a broad mobilization of public
investment, in clean energy and innovation. The funds will accelerate the deployment of
clean technology throughout the US with a target of reducing the carbon footprint of the
U.S. building stock 50% by 2035. The new government will work with governors and
mayors to support the deployment of more than 500,000 new public charging outlets by
the end of 2030.
Lomiko’s Opportunity in the Critical Minerals Supply Chain
Graphite demand is expected to increase exponentially for natural graphite materia l, as
more is used in the production of spherical graphite for graphite anodes of Electric Vehicle
Lithium-ion batteries.
With a completion of $ 750,000 financing October 23, 2020 , and a further $985,000
completed December 2 2, 2020, Lomiko plans to work on its near-term goals of the
company are as follows:
1) Complete 100% Acquisition of the La Loutre Property, currently 80% owned by Lomiko
Metals.
2) Complete m etallurgy and graphite characterization to confirm li- ion anode grade
material.
3) Complete a Technical Report to confirm the extent of the mineralization equals or
surpasses the nearby Imerys Mine, owned by international mining conglomerate.
A "technical report" means a report prepared and filed in accordance with this Instrument
and Form 43- 101F1 Technical Report , and includes, in summary form, all material
scientific and technical information in respect of the subject property as of the effective
date of the technical report;
4) Complete Preliminary Economic Assessment (PEA)
A PEA means a study, other than a pre -feasibility or feasibility study, that includes an
economic analysis of the potential viability of mineral resources.
For more information on Lomiko Metals, Promethieus, review the website at
www.lomiko.com, and www.promethieus.com, contact A. Paul Gill at 604 -729-5312 or
email: [email protected].
On Behalf of the Board
“A. Paul Gill”
Director, Chief Executive Officer
We seek safe harbor.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) , accept responsibility for the
adequacy or accuracy of this release.