Lomiko Metals Files Positive Preliminary Feasibility Study For La Loutre Graphite Project on SEDAR

About this update from Lomiko Metals Inc.

MONTREAL / May 08, 2026 / Business Wire / Lomiko Metals Inc. (Lomiko) (TSX-V: LMR, OTC: LMRMF, FSE: DH8C) (“Lomiko" or the “Company”) is pleased to announce that the Company has filed on SEDAR+ an independent technical report (the "Report") prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") supporting the results of a Pre-Feasibility Study ("PFS") for the development of its La Loutre Graphite Project in Quebec, Canada. The PFS was completed by DRA Americas Inc. (“DRA”) in accordance with NI 43-101, and the results of the PFS were previously reported in the Company's news release dated March 24th, 2026, and there are no material differences in the Report from those results. The effective date of the Report is March 24th, 2026. The Report supporting the PFS for the La Loutre Graphite Project with a pre-tax NPV of CA$797.5 M with 30.3% IRR; after-tax NPV of CA$617.4 M with 24.7% IRR at US$1,524/t Cg can be consulted on the Company’s profile on SEDAR+ (www.sedarplus.ca). The Project has probable mineral reserves prepared in accordance with NI 43-101 using a 1.50% Cg cut-off grade of 46.8 Mt at an average grade of 4.79% Cg for a contained in-situ graphite quantity of 2.24 Mt. Highlights of the PFS (all figures are stated in Canadian dollars unless otherwise stated): Pre-tax NPV (8%) of CA$797.5 M. After-tax NPV (8%) of CA$617.4 M. Pre-tax IRR of 30.3 %. After-tax IRR of 24.7 %. Pre-tax payback period of 3.1 years. After-tax payback period 3.2 years. Initial capital costs of CA$504.6 M. Life of mine processing period (“LOM”) of 28 years. Average LOM stripping ratio (Waste: Ore) of 2.4:1. Mined ore of 46.8 Mt at 4.79% Cg with 1.5% cut-off grade and waste of 40.0 M bcm (bank cubic metres), including 2.2 M bcm of overburden. LOM plant production of 46,803 kt (kt=1,000 metric tonnes) of mill feed yielding 2,149 kt of graphite concentrate grading 97.0% Cg. LOM Average graphite mill head grade of 4.79 % Cg. Average LOM mill recovery of 93.0% Cg. At the base case cut-off grade of 0.95% Cg, a measured resource of 215 kt at a 4.47 % Cg grade for 9,7 kt of graphite, an indicated resource of 69,741 kt at a 4.41 % Cg grade for 3,075 kt of graphite, and an inferred resource of 20,279 kt at a 3.53 % Cg grade for 716 kt of graphite. Long-term Weighted-Average Graphite Price US$1,524/t Cg conc. (graphitic carbon ...

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