Lomiko Announces Brokered Private Placement of $2,750,000

Lomiko Metals Inc. (TSX-V: LMR, OTC: LMRMF, FSE: DH8C), (Lomiko or the “Company”) announces that it has engaged Leede Jones Gable Inc. (the "Agent") as lead agent on a commercially reasonable agency basis, for a brokered private placement (“Offering”) of a combination of units and flow through shares for gross proceeds of up to $2,750,000. Up to 20,000,000 common share units (“units”) of the Company will be offered at a price of C$0.05 per unit to raise gross proceeds of up to $1,000,000. Each unit will consist of one (1) common share and one half of one (1/2) common share purchase warrant (“Warrant”). Each full warrant shall entitle the holder to acquire one (1) common share of the issuer at a price of $0.07 per share for a period of 24 months following the closing of the Offering. Up to 35,000,000 flow through shares (FT Shares”) will be offered at a price of $0.05 per FT Share for gross proceeds of up to $1,750,000.

The gross proceeds from the issuance of the FT Shares will be used for Canadian exploration expenses and will qualify as flow-through mining expenditures, as defined in Subsection 127(9) of the Income Tax Act (Canada), which will be renounced to the subscribers with an effective date no later than Dec. 31, 2019, to the initial purchasers of the offered securities in an aggregate amount not less than the gross proceeds raised from the issue of the flow-through shares, as applicable, and, if the qualifying expenditures are reduced by the Canada Revenue Agency, the company will indemnify each FT subscriber for any additional taxes payable by such subscriber as a result of the company's failure to renounce the qualifying expenditures as agreed.

The net proceeds from the Offering of units and the gross proceeds from the Offering of FT shares shall be primarily used for a new Resource Estimate prepared in accordance NI 43-101 regulations which will include recent drill results from the Refractory Zone and completion of work required for a Preliminary Economic Assessment (PEA), including but not limited to, metallurgical/engineering testing and drilling, testing for conversion to spherical graphite for use in graphite anodes, environmental assessment and extraction and processing cost studies. A portion of proceeds will be allocated to community relations, pursuing potential off-take partners and for general working capital.