Lomiko Announces It Is Now UL ECOLOGO® Certified for Mineral Exploration, Validating Mineral Companies’ Responsible Business Practices to the Market, and Demonstrating Increased Value to Investors

Lomiko Metals Inc. (TSX.V: LMR) (“Lomiko Metals” or the “Company”) is pleased to announce it has obtained UL ECOLOGO® certification for mineral exploration, completing a comprehensive process that took place over several months.

Specifically, Lomiko has received UL 2723 ECOLOGO® Certification for Mineral Exploration Companies upon its successful completion of the final stage of the certification process, which includes audit results, use of the UL ECOLOGO® mark, and registration in UL’s SPOT sustainable product database. The Company is very proud of this accomplishment and intends to continue working to promote this certification and its advantages, helping to make it a key objective for other exploration companies in the mineral exploration sector.

A plan for the future

The responsible development and environmental stewardship of mineral and natural resources has become a must. It is a factor in all parts of society, and every project needs to be designed and executed with it in mind. For mineral exploration companies and their service providers, that entails applying the best social, environmental, and economic practices.

The certification process

The UL ECOLOGO® Certification program offers a standard by which to evaluate mineral exploration companies and their service providers on factors such as environmental impact, safety of people in the mineral exploration process, the well-being of impacted communities, fair and ethical business practices, compliance with applicable legal requirements, and efficient use of financial resources. The certification provides credible, third-party verification by a globally recognized and trusted ecolabelling program.

Lomiko began the accreditation process in June 2021, successfully completing it on March 21st, 2022. In completing the process, Lomiko demonstrated that it met all the responsible development indicators required to obtain UL ECOLOGO® Certification for Mineral Exploration, which is made available to companies in Quebec through the Quebec Mining Exploration Association (QMEA).

“We would like to thank the QMEA and their coaching program for their collaboration in reaching this milestone for Lomiko,” said Belinda Labatte, CEO and director of Lomiko. “We greatly appreciate their support and guidance and are grateful for their contribution to the success of our efforts. For our company, UL ECOLOGO® Certification for Mineral Exploration promotes transparency of process with all our stakeholders and First Nations communities, fosters a better work environment, improves our appeal as an employer, strengthens strategic planning, and aids in risk management. We believe being certified means we are better prepared for changes to legislation and are likely to have better relationships with stakeholders, which contributes to the social acceptability of our projects and helps improve completion times.”

For more information about the UL ECOLOGO® Certification for Mineral Exploration program, please visit:

https://canada.ul.com/ulcprograms/explore/

https://spot.ul.com/

QMEA’s coaching program:

https://aemq.org/en/certification-about/

About Lomiko Metals Inc.

Lomiko Metals has a new vision and a new strategy in new energy. Lomiko represents a company with a 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 (28.7km²). 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.

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.

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