LOMIKO AND QUEBEC PRECIOUS METALS AGREE TO UPDATE 100% OPTION OF LA LOUTRE FLAKE GRAPHITE PROJECT
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Vancouver, B.C. and Montreal, QC, April 17, 2020 (GLOBE NEWSWIRE) -- Lomiko Metals Inc. (“Lomiko”) (TSX-V: LMR, OTC: LMRMF, FSE: DH8C) and Quebec Precious Metals (“QPM”) (TSX-V: QPM, OTC: CJCFD, FSE: YXEP) announce that pursuant to the option agreement between Lomiko and QPM, the agreement regarding the La Loutre Flake Graphite Project has been amended as follows:
Lomiko will issue to QPM, within a period of five business days following the receipt of the required approval by the TSX Venture Exchange, 1,000,000 common shares of Lomiko. Further, Lomiko will fund additional exploration expenditures totaling $1,125,000 on the La Loutre project, the Lac des Îles project and/or other designated properties as mutually agreed to by the Lomiko and QPM by December 31, 2021.
The Project consists of contiguous claim blocks totaling 29 km2 situated approximately 53 km SE of the Lac-des-Îles mine, formerly known as the Timcal mine, North America’s only operating graphite mine currently owned by Imerys Carbon and Graphite. It is accessible by driving NW from Montreal for a distance of approximately 170 kilometres.
For more information on Lomiko Metals, review the website at www.lomiko.com, contact A. Paul Gill at 604-729-5312 or email: info@lomiko.com.
On Behalf of the Board,
“A. Paul Gill”
Chief Executive Officer
We seek safe harbor. Neither 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 release
Attachment
A. Paul Gill Lomiko Metals Inc. (TSX-V: LMR) 6047295312 apaulgill@lomiko.com
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