Lomiko Metals Announces 2025 Warrant Re-Repricing and Incentive Program

MONTREAL--(BUSINESS WIRE)-- Lomiko Metals Inc. (TSX.V: LMR) (“Lomiko Metals” or the “Company”) is pleased to announce that subject to acceptance by the TSX Venture Exchange (the “Exchange”), the Company intends to amend the exercise price of an aggregate of 1,770,000 outstanding common share purchase warrants currently expiring on July 24, 2025 with an exercise price of $0.60 to the 10 day Volume Weighted Average Price (“VWAP”) of $0.1465 (the “Warrants”). All other terms of the Warrants will remain the same, including the expiry dates of July 24, 2025.

In addition, the Company is pleased to announce a warrant exercise early incentive program (the "Incentive Program"), pursuant to which the Company will offer holders of the above-noted outstanding Warrants the opportunity to exercise each of their outstanding Warrants between 9:00 a.m. Pacific Standard Time ("PST") on April 3, 2025, and 4:00 p.m. PST on April 25, 2025 with an incentive. In return for the early exercise, each holder will receive as an incentive, one-half of one common share purchase warrant (each whole warrant, an "Incentive Warrant"). Each Incentive Warrant will allow the holder to acquire one Common Share at an exercise price of $0.20 for a period of two (2) years following the date of the issuance of the Incentive Warrant. The Company anticipates issuing all of the Incentive Warrants on or about April 30, 2025, following conclusion of the Incentive Program. A holder may elect to exercise all, none, or a portion of their outstanding warrants.

Any outstanding Warrants remaining unexercised will remain outstanding and continue to be exercisable pursuant to their existing terms, including the amended exercise price noted above if the Exchange approves such amendment.

Holders of Warrants who elect to participate in the Incentive Program will be required to deliver the following to the Company on or prior to 4:00 p.m. PST on April 25, 2025:

a duly completed and executed exercise form, in the form which accompanies the certificate representing the outstanding Warrants;
the original certificate representing the outstanding Warrants being exercised; and
the applicable aggregate exercise price (based on the amended exercise price of $0.115) payable to the Company by way of certified cheque, money order, bank draft, or wire transfer in lawful money of Canada.

The Common Shares issued on exercise of the outstanding Warrants will not be subject to any hold period. The Incentive Warrants issuable upon the exercise of the Incentive Warrants will be subject to a hold period expiring four months after the date of distribution of the Incentive Warrants.

The Company intends to use the proceeds to complement its current financing and thereby start the engineering phase of the pre-feasibility study of the La Loutre graphite project, progress with the bulk sample and anode piloting at the La Loutre project, explore the Company’s Yellow Fox property, regional graphite exploration, and for general working capital purposes.

The repricing of the Warrants and the Incentive Program are both subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the final approval of the Exchange.

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 ��ϳԹ�� 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 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%Cgto 17.10 %Cg with all samples above 5.00% Cg

In addition to La Loutre, Lomiko has earned-in its 49% stake in the Bourier Project from Critical Elements Lithium Corporation as per . 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. The property is centered at approximately UTM (NAD 27) grid coordinates 5,419,400m North and 645,300m East.

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 )

On behalf of the Board,

Gordana Slepcev CEO & President and Director, Lomiko Metals Inc.

For more information on Lomiko Metals, review the website at .

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of the applicable ��ϳԹ�� 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 . 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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