Lomiko Metals Inc. Warrants Re-Pricing Extension and Accelerated Provisions
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MONTREAL — Lomiko Metals Inc. (TSX.V: LMR) ('Lomiko Metals' or the 'Company') announces that further to its press release dated April 3, 2025, in order to reduce the exercise price of the warrants, the TSX Venture Exchange requires that the Company include an accelerated exercise period provision in the amended warrants. The accelerated exercise period provision will provide that, if the closing price of the Company's shares is $0.18 or higher for 10 consecutive trading days (the 'Premium Trading Days'), warrant holders will have 30 calendar days, commencing 7 calendar days after the last Premium Trading Day. The proposed amendments to the Warrants are subject to acceptance by the TSX Venture Exchange.
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In addition, the Company will extend the early incentive program pursuant to which the Company will offer holders of the above-noted outstanding warrants the opportunity to exercise to May 15, 2025. Refer to the Company's press release dated April 3, 2025.
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About Lomiko Metals Inc.
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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).
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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.
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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).
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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.
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The stage graphite portfolio consists of 328 claims in total on 7 early-stage projects covering 18,622 hectares in southern Quebec.
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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
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In addition to La Loutre, Lomiko has earned-in its 49% stake in the Bourier Project from Critical Elements Lithium Corporation as per the option agreement announced on April 27 th, 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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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.
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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)
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