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MONTREAL, April 23, 2025--(BUSINESS WIRE)--Lomiko Metals Inc. (TSX.V: LMR) ("Lomiko Metals" or the "Company") is pleased to announce it is continuing with the pre-feasibility level engineering studies for its wholly owned La Loutre natural flake graphite project in Quebec with the engagement of study leader, DRA Americas as of April 23rd, 2025. This international engineering firm with offices in Quebec will lead the study and prepare a technical report in accordance with NI 43-101 rules, with Norda Stelo as the mining engineering lead, also Quebec based, and Knight-Piesold as the geotechnical, hydrogeological and geomechanical lead.
Lomiko has chosen to partner with DRA Americas, Norda Stelo and Knight-Piesold due to their position as the industry leaders. These independent expert consultants have extensive expertise in engineering, process design, and mine planning, with numerous projects completed in the critical minerals and graphite and experience in the application of international best practice and innovative practices in mine sustainability.
Gordana Slepcev, CEO, President, and Director, stated: "With the recently closed first tranche of the private placement, we are happy to continue with the pre-feasibility level of the engineering studies for the La Loutre natural flake graphite deposit. The Company completed approximately 50% of the pre-requisite work in the last two years, and we are now pleased to continue this process. With the Mineral Resource Estimate prepared by InnovExplo (a member of Norda Stelo), we have built a strong base to start with the mine plan evaluation options, and positive metallurgical testing and battery trials programs will be used to continue with engineering studies, including site infrastructure and the processing plant layout and equipment selection. We are very pleased to be advancing the completion of the pre-feasibility level studies with a wide range of independent expert consultants lead by DRA Americas, namely Knight-Piesold and Norda Stelo, principally based in Quebec, to assess the geology and production model and design the project in a way to mitigate and manage with best practices all environmental and social risk factors and which best satisfies the vision and objectives of Lomiko as a responsible developer of natural flake graphite in Quebec, Canada for a North American energy supply chain."
The Company will continue to provide transparent, factual and ongoing information on the studies to investors and community members as they progress.
About DRA Global: DRA Global ("DRA") is a global engineering, project delivery, and operations management group specializing in the mining, minerals, and metals sector. The Group has an extensive track record spanning four decades across a wide range of commodities, including battery elements. DRA provides comprehensive services across the project lifecycle—from concept development and feasibility studies to engineering, procurement, construction management (EPCM), and ongoing operations and maintenance. With offices across key mining regions including North and South America, Africa, the Middle East, and Asia-Pacific, DRA delivers tailored solutions to meet the unique needs of its clients. In the Americas, DRA has been instrumental in delivering numerous successful mining projects, offering a blend of innovative design and a commitment to environmental sustainability.
About Norda Stelo: Established in 1963 and headquartered in Quebec, Canada, Norda Stelo offers comprehensive solutions across all facets of the mining industry, catering to a diverse range of clients, from emerging miners to established producers and operators. The team of experts provides tailored services spanning the entire project lifecycle, from initial exploration and feasibility studies to asset durability and operational optimization, as well as mine closure and rehabilitation. With extensive experience worldwide, Norda Stelo draws upon industry best practices and in-house expertise in various fields namely geology and resource estimation, mining engineering, infrastructure, civil work, asset integrity and environment to deliver innovative and sustainable solutions at every stage of a mining project.
For more information about Norda Stelo and its services, visit www.norda.com.
About Knight Piésold: Knight Piésold (KP) is an employee-owned, global consulting firm providing specialist services to the mining industry. KP has extensive experience in providing pre-feasibility level geotechnical and environmental support for mine development projects. Our Canadian practice mining experience has been utilised on over 400 projects and has encompassed a wide range of geographic, geological, geotechnical, regulatory, climatic, and seismic conditions.
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-off grade of 1.50% Cg (graphitic carbon).
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 7 early-stage projects covering 18,622 hectares in southern Quebec.
• 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
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 27th, 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 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.
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 monzogranite. (See Metals Creek assessment report at https://gis.geosurv.gov.nl.ca/geofilePDFS/Batch2016/002D_0779.pdf)
On behalf of the Board,
Gordana Slepcev
CEO & President and Director, Lomiko Metals Inc.
For more information on Lomiko Metals, review the website at www.lomiko.com.
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.
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Contacts
Contact us at 1-833-4-LOMIKO or e-mail: info@lomiko.com.
