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Lomiko Metals Inc
Symbol LMR
Shares Issued 137,803,167
Close 2014-12-01 C$ 0.07
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Canada Strategic, Lomiko drill 128.35 m of 4.72% Gp

2014-12-02 09:14 ET - News Release

See News Release (C-CJC) Canada Strategic Metals Inc

Mr. Jean-Sebastien Lavallee of Canada Strategic Metals reports

DISCOVERY OF A WIDE, RICH GRAPHITE-BEARING ZONE WITH AN INTERCEPT OF 4.72% GRAPHITE OVER 128.35 METRES, INCLUDING 8.42 % GRAPHITE OVER 26.40 METRES AT THE LA LOUTRE GRAPHITE PROJECT

Canada Strategic Metals Inc. and Lomiko Metals Inc. have released the results for the first five holes of the recent drilling campaign on the La Loutre graphite project. The La Loutre property consists of contiguous claim blocks totalling approximately 2,500 hectares (25 square kilometres) situated approximately 53 kilometres east of Imerys carbon and graphite, formerly know as the Timcal graphite mine, North America's only operating graphite mine, and 117 kilometres northwest of Montreal.

The goal of the exploration program was to identify high-grade, near-surface graphite mineralization to rapidly build a resource at La Loutre project. Twenty-five holes, for a total of 3,137 metres, were drilled to test a surface graphite showing and assess the potential extension of the graphite mineralization.

The company has received the graphite assay results for the first five holes, LL-14-01 to LL-14-05. All five returned wide graphite intersections: 1.36 per cent Gp over 20.50 metres and 1.54 per cent Gp over 12.00 metres from hole LL-14-01; 2.56 per cent Gp over 19.40 metres and 1.54 per cent Gp over 16.50 metres from hole LL-14-02; 2.55 per cent Gp over 86.50 metres from hole LL-14-03, including 5.08 per cent Gp over 16.00 metres and 2.45 per cent over 51.40 metres; 2.74 per cent Gp over 78.00 metres from hole LL-14-04; and 4.72 per cent Gp over 128.35 metres from hole LL-14-05, including 9.37 per cent Gp over 13.55 metres and 8.42 per cent Gp over 26.40 metres. The mineralized intersections and assay results are shown in the table.

"The company is very pleased that all the recent drill results from its last exploration program confirm the quality and potential of the La Loutre project," said Jean-Sebastien Lavallee, president and chief executive officer of Canada Strategic Metals. "We are looking forward to receiving the results for the 20 other holes of the program."

The company will release the results for the remaining holes as soon as they have been received and compiled.

     TABLE OF MINERALIZED INTERSECTIONS FROM THE RECENT DRILLING CAMPAIGN

Hole No.                From (m)         To (m)  Length(i) (m)           Gp%

LL-14-01                  18.50          39.00          20.50           1.36
                          69.00          81.00          12.00           1.54
LL-14-02                   8.60          28.00          19.40           2.56
                          55.00          71.50          16.50           1.54
LL-14-03                   3.00          89.50          86.50           2.55
Including                  3.00          54.40          51.40           2.45
Including                 59.00          75.00          16.00           5.08
LL-14-04                  39.00         117.00          78.00           2.74
LL-14-05                   6.65         135.00         128.35           4.72
Including                  6.65          20.20          13.55           9.37
Including                104.00         130.40          26.40           8.42

(i) Length along the core. The company estimates the true width of the 
mineralized zone at 70 to 90 per cent of the width intersected in the drill 
holes. 

The November, 2014, drilling program was managed by Consul-Teck Exploration of Val d'Or, Que., which designed the drilling campaign, supervised the program, and logged and sampled the core.

Consul-Teck Exploration implemented quality assurance/quality control procedures to ensure best practices in sampling and analysis of the core samples. The drill core was logged and then split, with one-half sent for assay and the other retained in the core box as a witness sample. Duplicates and blanks were inserted regularly into the sample stream.

The samples in secure tagged bags were delivered directly to the analytical facility for analysis. In this case, the analytical facility was the ALS minerals in Val d'Or, Que. The samples are weighed and identified prior to sample preparation. The samples are crushed to 70 per cent minus two millimetres, then separated and pulverized to 85 per cent passing 75 micrometres. All samples are analyzed for carbon graphite using C-IR18.

Jean-Sebastien Lavallee, OGQ No. 773, geologist, and shareholder, president and chief executive officer of the company, a qualified person under National Instrument 43-101, has reviewed and approved the technical content of this release.

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