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Lomiko Metals Inc. (TSX.V: LMR) ("Lomiko Metals" or the "Company") is pleased to announce the following corporate update as it builds on the significant momentum of its 2021 activities and strengthens its stakeholder engagement in Quebec.
"Our team is pleased to have engaged with various stakeholders in Quebec to discuss our strategy and path forward as a people-first company and operator of choice in the development of our graphite project La Loutre," said Belinda Labatte, CEO and director of Lomiko. "Listening to stakeholders and building partnerships are key priorities as we advance our project and develop a modern, carbon-neutral, and environmentally responsible operation. Having recently closed our $2.1m flow-through financing and $1.5m private placement, we are pleased to now apply those funds to working with various organizations and suppliers in Quebec as we progress our early-stage work in drilling, metallurgical and environmental baseline studies."
Lomiko has engaged COREM to support the value-added metallurgical testing of samples of the La Loutre graphite concentrate. The findings from this initial program will better define a larger processing test program and bulk metallurgical testing program that will be undertaken in the spring of 2022 to support the project. Based in Quebec City, COREM is a centre of expertise and innovation in mineral processing, with the largest concentration of resources dedicated to research and development in this field in Canada. COREM has extensive equipment and infrastructure to conduct ore characterization, process development, optimization and pilot testing in mineral separation and hydrometallurgy.
Also, Lomiko has made progress towards obtaining its ECOLOGO certification, a process that was initiated by the previous management team and looks forward to the next steps toward independent certification. ECOLOGO (UL) is a third-party independent certification process specifically designed for mineral exploration companies in Quebec and set up jointly by UL and the AEMQ (Québec Association of Mineral Exploration). Importantly, it helps build social licence within the socio-economic ecosystem of the projects, in full transparency. To this effect, Lomiko recently became a member of the AEMQ.
Participation in Upcoming Conferences
Lomiko is pleased to present and participate in the following upcoming conferences in Quebec, New York, Toronto, Vancouver and London and invites all interested investors to meet with management:
- Over the Counter Markets - virtual conference featuring Quebec critical minerals mining companies organized by the Delegation of the Government of Quebec in New York – presentation by Belinda Labatte, CEO, March 30 th , 2022
- Mines and Money (online) – April 5-7 th , 2022
- Mining the Connections, Quebec City, – April 25-27 th , 2022
- CIMBC 2022, Vancouver, presentation by Belinda Labatte and Gordana Slepcev, COO, on People-First Leadership and Diversity in Critical Minerals Development – May 2, 2022
- Mines and Money London, May 3-5, 2022 – presentation by Belinda Labatte, CEO
Lomiko management will also participate in the Vancouver Resource Investment Conference in May, and the PDAC conference taking place in Toronto in June.
The Company's updated investor presentation and website can be found on www.lomiko.com .
About Lomiko Metals Inc.
Lomiko Metals has a new vision and a new strategy in new energy. Lomiko represents a company with purpose: a people-first company where we can manifest a world of abundant renewable energy with Canadian and Quebec critical minerals for a solution in North America. Our goal is to create a new energy future in Canada where we will grow the critical minerals workforce, become a valued partner and neighbour with the communities in which we operate, and provide a secure and responsibly sourced supply of critical minerals.
The Company holds a 100% interest in its La Loutre graphite development in southern Quebec. The La Loutre project site is located within the Kitigan Zibi Anishinabeg (KZA) First Nations territory. The KZA First Nations are part of the Algonquin Nation and the KZA territory is situated within the Outaouais and Laurentides regions. Located 180 kilometres northwest of Montreal, the property consists of 1 large, continuous block with 48 minerals claims totaling 2,867 hectares (28.7km 2 ). Lomiko Metals published a Preliminary Economic Assessment ("PEA") on September 10, 2021 which indicated the project had a 15-year mine life producing per year 100,000 tonnes of the graphite concentrate at 95%Cg or a total of 1.5Mt of the graphite concentrate. This report was prepared as National Instrument 43-101 Technical Report for Lomiko Metals Inc. by Ausenco Engineering Canada Inc., Hemmera Envirochem Inc., Moose Mountain Technical Services, and Metpro Management Inc., collectively the Report Authors. 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.
Mr. Mike Petrina, Project Manager, a Qualified Person ("QP") under National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has reviewed and approved the technical disclosure in this news release. Also, Oliver Peters of MetPro who is leading metallurgical testing programs of the La Loutre graphite project on Lomikos's behalf is acting as QP.
For more information on Lomiko Metals, review the website at www.lomiko.com , contact Belinda Labatte at 647-402-8379 or email: info@lomiko.com .
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" within the meaning of the applicable Canadian 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 Company's objective to become a responsible supplier of critical minerals, exploration of the Company's projects, including expected costs of exploration and timing to achieve certain milestones, including timing for completion of exploration programs; 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); any anticipated impacts of COVID-19 on the Company's business objectives or projects, the Company's financial position or operations, 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. This FLI 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: current market for critical minerals; current technological trends; the business relationship between the Company and its business partners; ability to implement its business strategy and to fund, explore, advance and develop each of its projects, including results therefrom and timing thereof; the ability to operate in a safe and effective manner; uncertainties related to receiving and maintaining exploration, environmental and other permits or approvals in Quebec; any unforeseen impacts of COVID-19; impact of increasing competition in the mineral exploration business, including the Company's competitive position in the industry; 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 www.sedar.com , and on the investor presentation on its website. 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 forward-looking information. The Company does not undertake to update or revise any such forward-looking statements or 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. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
On behalf of the Board,
Belinda Labatte
CEO and Director, Lomiko Metals Inc.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220303006061/en/
For more information, please contact:
Kimberly Darlington
Investor Relations, Lomiko Metals Inc.
k.darlington@lomiko.com
514-771-3398
181,057,000 € 20%-30% 40-50% 30% Figure 1 – Financing Plan and Structure
