Lomiko drills 10.06% Cg over 40.5 metres at La Loutre, Quebec

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Lomiko Metals Inc. [LMR-TSXV] reported the fifth round of analytical results from the infill and extension exploration drill program at its wholly owned La Loutre graphite property approximately 180 km northwest of Montreal in the Laurentian region of Quebec.

Belinda Labatte, CEO and Director stated: “I am happy to see that the results from the last eleven holes drilled on EV zone in 2022 are in line with the results we announced in previous press releases. These results show significant mineralization over large intervals, including LL-22-044 with 7.60% Cg (graphitic carbon) over 119.8 metres from 81.2 to 201m, consistent with previous results. The wide intervals encountered in 8 of the 11 holes further validate the continuity and the quality of the mineralization in the EV zone. We look forward to receiving the results from the 26 holes completed over the Battery Zone in August and September.”

Highlights: Intersecting high-grade graphite values and significant widths 8 out of 9 (11 holes total) intersected significant mineralization with two holes abandoned and redrilled due to challenging environmental conditions.

Hole LL-22-044 returned up to 7.60% Cg over 119.8 metres from 81.2 to 201 metres, including 10.06% Cg over 40.5 metres from 81.2 metres to 121.7 metres and 10.31% Cg over 19.5 metres from 166.7 to 186.2 metres.

Hole LL-22-045 encountered 5.83% Cg over 27 metres from 204.0 to 231.0 metres, including 19.5 metres at 7.63% Cg from 211.5 to 231.0 metres at 7.63% Cg.

Hole LL-22-050 encountered 5.07% Cg over 123.0 metres from 13.0 to 136.0 metres, including 14.5% Cg over 22.5 metres from 14.5 to 37.0 metres.

Holes LL-22-044, LL-22-045, LL-22-046, LL-22-049, LL-22-051 and LL-22-052 all bottomed in mineralization. Graphite intervals in 8 of 9 holes remain open; additional assay results pending

The La Loutre graphite project site is located within the Kitigan Zibi Anishinabeg (KZA) First Nations territory. The drilling was supervised by Quebec-based, independent geological consultant Breakaway Exploration Management Inc. and was operated under ECOLOGO requirements and compliance protocols, as Lomiko is ECOLOGO certified.

The drill program at La Loutre began May 15, 2022, with the goal to further define the deposit, provide the data needed to increase confidence in the mineral resource and build on the results of the positive Preliminary Economic Assessment (PEA) for the La Loutre project.

Lomiko has retained InnovExplo Inc, a Quebec-based independent consulting firm specializing in geology, resource estimation, mining engineering and sustainable development, to prepare an updated NI 43-101 compliant resource estimate for the La Loutre project following the completion of the 2022 drill program. The assay results reported in this press release are for 11 holes drilled at the central section of the EV Zone. These holes were drilled to confirm results of the previous drilling and provide better detail of the EV Zone in this part of the deposit.

In addition to La Loutre, Lomiko is working with Critical Elements Lithium Corp. [CRE-TSXV; CRECF-OTCQX; F12-FSE] towards earning its 70% stake in the Bourier Project under 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.

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