Ms. Gordana Slepcev of Lomiko Metals reports

LOMIKO IDENTIFIES NEW MULTI-ELEMENT ANOMALIES AT YELLOW FOX, THE ANTIMONY, SILVER, AND GOLD PROPERTY LOCATED IN CENTRAL NEWFOUNDLAND

Lomiko Metals Inc. has provided an update regarding results from the recently completed soil sampling program (see news release dated March 12, 2025) on the Yellow Fox antimony, silver and gold property acquired from Metals Creek Resources Corp. as per the news release issued on Jan. 21, 2025 (see news release dated Jan. 21, 2025).

Gordana Slepcev, chief executive officer, president and director, stated: "We are happy to see very promising results coming out from the soil sampling work at Yellow Fox property field program, which identified several soil anomalies comprised of multiple pathfinder elements (gold, antimony, silver, zinc, lead, arsenic, iron, manganese) exhibiting similar traits to that of the historic soil survey conducted over the Yellow Fox showing. These new anomalies are trending similarly to the Yellow Fox north-northeast. We are looking forward to continuing with the soil sampling and geophysical surveys over identified anomalous trends to better identify trenching and channel sampling targets."

In addition, Newfoundland has just been named on the Fraser Institute's list of top mining jurisdictions, and, with the company's previous working experience in Newfoundland, Lomiko Metals believes it is highly prospective for the future of the company. Newfoundland and Labrador appears in the list of the top 10 most attractive jurisdictions for mining investment.

Highlights:

• New high-priority multielement targets identified;
• Anomalies trending roughly the same orientation as Yellow Fox showing;
• Anomalies discovered are close to Yellow Fox showing;
• Soil sampling program successfully targeted south of Yellow Fox, showing 59.413 grams per tonne gold and areas of increased density of interpreted structures;
• 551 soil samples were collected on 10 250-metre-spaced lines trending 110 degrees;
• Several high-priority targets with a similar trend (15 degrees) to that of mineralized vein sets at the Yellow Fox showing have been identified.

Yellow Fox is an early-stage exploration property prospective in antimony, gold and silver where historic work has returned samples anomalous in gold, antimony, lead, zinc and silver. Previous trenching exposed bedrock, resulting in grab samples up to 59.43 grams per tonne gold, 11.10 per cent antimony, 7.00 per cent zinc, 72.90 grams per tonne silver and 5.50 per cent lead in arsenopyrite-stibnite veins within altered monzogranite (see Metals Creek's assessment report).

Please note that the results on an adjacent or nearby property (Beaver Brook) are not necessarily what can be expected on the Yellow Fox project and that the results of surface or grab samples, by their nature, are selective and that the assay results may not be indicative of underlying mineralization.

This program was designed to evaluate prospective regional structures transecting the Yellow Fox property at roughly the same orientation as that of the Beaver Brook mine and to follow up and expand on a much smaller historic soil sampling survey, which highlighted several small prospective pathfinder soil anomalies in close proximity to the Yellow Fox discovery. A total of 551 soil samples were collected from this current program, along 10 lines with a spacing of 250 metres, over an area that historically has not seen much exploration, concentrating on the northern half of the project area.

Assay results from this program highlight the identification of several soil anomalies comprising multiple pathfinder elements (gold, antimony, silver, zinc, lead, arsenic, iron and manganese) exhibiting similar traits to that of the historic soil survey conducted over the Yellow Fox showing These new anomalies are trending roughly north-northeast, similar to that of the highly prospective regional structures, which also trend north-northeast. Several high-priority multielement anomalies with similar geochemical signatures to those of the Yellow Fox showing are present in close proximity to the main showing.

Soil sampling is proving to be a helpful tool, especially given the lack of outcrop, in identifying areas of high exploration potential, as demonstrated in the Yellow Fox showing area. The next stages will include ground geophysics to better define the orientation and location of high-priority targets, followed by surface trenching.

In July, 2025, a second phase of soil sampling was conducted to further expand on the phase 1 program. Two hundred eighty soil samples were collected for gold and ICP analysis. Soil samples were collected to the south and the west of the spring soil sampling program. The company is currently awaiting assay results.

In July, the government of Newfoundland and Labrador's mineral incentive program officially approved Lomiko's application as filed, designating it as a critical minerals as a primary exploration target project. This prioritization ensures eligibility for CMA (critical mineral assistance) and PCMA (provincial critical mineral assistance) funding.

Yellow Fox antimony and gold prospect exploration -- future steps:

• Additional soil sampling took place in early July, with 280 samples collected;
• Next work phase will include ground geophysics, followed by surface trenching;
• Line cutting, ground geophysics and surface trenching permits have been received;
• Stripping, channel sampling and trenching.

Location details

The Yellow Fox property is located approximately 10 kilometres southwest of the town of Glenwood, Nfld., and south of the Trans-Canada Highway. The property occurs within NTS map sheets 02D/14 and 02D/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 licence No. 027536M, five kilometres from the western end of Gander Lake. The property is centred at approximately UTM (NAD 27) grid co-ordinates 5,419,400 metres north and 645,300 metres east.

Geologically, Yellow Fox exhibits similar traits to those of Beaver Brook with crosscutting structural zones that show intense carbonate alteration with sulphide-bearing stringers to veins of stibnite and arsenopyrite with similar high-grade tenors of antimony, gold, lead, zinc and silver. Arsenopyrite is also present in both locations. Two prominent fracture vein sets are present, one being the muscovite-pyrite-rutile veins trending 356 degrees and the second stibnite-quartz-arsenopyrite veins being the most abundant and trending 25 degrees. Both these vein sets are similar to that of the past-producing Beaver Brook antimony mine, and both vein sets trend in north to northeast, which is the same as the prospective regional structures.

Qualified person

The technical content presented in this press release was reviewed and approved by Gordana Slepcev, PEng, who is the chief executive officer and president of Lomiko Metals and acts as the qualified person, as that term is defined under National Instrument 43-101, Standards of Disclosure for Mineral Projects. Also, all the materials were reviewed and approved by Metals Creek qualified person Wayne Reid, PGeo, who is registered in Newfoundland.

All samples were dried and then sent to Eastern Analytical Ltd., located in Springdale, Nfld. Samples are analyzed by ICP34 method that delivers a 34-element package and analyzed by ICP-OES analytical technique.

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 kilometres northwest of Montreal, the property consists of one large, continuous block with 76 mineral claims totalling 4,528 hectares (45.3 square kilometres).

The property is underlain by rocks from the Grenville province of the Precambrian Canadian Shield. The Grenville province was formed under conditions that were very favourable 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 an NI 43-101 technical report and mineral resource estimate update for the La Loutre project in Quebec, Canada, prepared by InnovExplo Inc. on May 11, 2023, which estimated 64.7 million tonnes of indicated mineral resources averaging 4.59 per cent Cg (graphitic carbon) per tonne for 3.0 million tonnes of graphite, a tonnage increase of 184 per cent. Indicated mineral resources increased by 41.5 million tonnes as a result of the 2022 drilling campaign from 17.5 million tonnes in the 2021 MRE, with additional mineral resources reported downdip and within marble units resulted in the addition of 17.5 million tonnes of inferred mineral resources averaging 3.51 per cent Cg per tonne for 650,000 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 graphite price of $1,098.07 (U.S.) per tonne and a cut-off grade of 1.50 per cent Cg. The independent and qualified persons for the mineral resource estimate, as defined by NI 43-101, are Marina Iund, PGeo (InnovExplo), Martin Perron, PEng (InnovExplo), Simon Boudreau, PEng (InnovExplo), and Pierre Roy, PEng (Soutex Inc.). The effective date of the estimate is May 11, 2023.

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 seven early-stage projects covering 18,622 hectares in the Laurentian region of Quebec and within KZA territory.

The graphite portfolio consists of 328 claims in total on seven early-stage projects covering 18,622 hectares in Southern Quebec. The grades presented below for the Laurentides graphite portfolio were press released on Jan. 7, 2025:

• Ruisseau -- grades up to 27.9 per cent Cg from four distinct high-grade mineralized zones that are over three kilometres long;
• Meloche -- grades up to 13.3 per cent Cg from two distinct mineralized clusters;
• Tremblant -- grades up to 11.6 per cent Cg from numerous, widespread spot anomalies;
• Dieppe -- grades up to 6.82 per cent Cg from numerous, widespread spot anomalies and a distinct mineralized cluster;
• Boyd -- eight samples grades range from 5.61 per cent Cg to 17.10 per cent Cg with all samples above 5.00 per cent Cg.

The technical content regarding the exploration results presented was reviewed by Mark Fekete, PGeo, who acts as an independent consultant to the company and is the qualified person.

In addition to La Loutre, Lomiko has acquired claims in the Yellow Fox property, located approximately 10 kilometres southwest of the town of Glenwood, Nfld., and south of the Trans-Canada Highway. The property occurs within NTS map sheets 02D/14 and 02D/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 licence No. 027536M, five kilometres 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 25 kilometres 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, antimony, lead, zinc and silver. The trenching exposed the rocks, resulting in grab samples to 59.43 grams per tonne gold, 11.10 per cent antimony, 7.00 per cent zinc, 72.90 grams per tonne silver and 5.50 per cent lead in arsenopyrite-stibnite veins within altered monzogranite (see Metals Creek's assessment report).

Lomiko's qualified person relied on the information provided by Metals Creek. Metals Creek's qualified person, Wayne Reid, PGeo, is registered in Newfoundland.

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