Company Completes Phase 1 Test Work Program On Graphanotm

Lomiko Metals Announces Positive Metallurgical Results

Company Completes Phase 1 Test Work Program on GraphanoTM

Lomiko Metals Inc. [TSX-V: LMR]

MONTRÉAL, CANADA – August 14, 2024 – Lomiko Metals Inc. (Lomiko Metals or the Company) (TSX-V: LMR) is pleased to announce positive results from Phase 1 test work on its GraphanoTM anode material for lithium-ion batteries.

The Phase 1 test work program was conducted in collaboration with a leading North American battery research and development firm. The program consisted of electrochemical testing of GraphanoTM anode material in coin cells, and the results demonstrated that GraphanoTM has the potential to meet or exceed the performance of commercial graphite anode materials in lithium-ion batteries.

Specifically, the Phase 1 test work program showed that GraphanoTM has:

• High specific capacity (mAh/g)
• Excellent cycling stability
• Good rate capability
• Long calendar life

The results of the Phase 1 test work program are a significant milestone for Lomiko Metals, as they provide independent validation of the Company's GraphanoTM technology. The Company is now proceeding with Phase 2 test work, which will involve the production of larger quantities of GraphanoTM and further testing in coin cells and pouch cells.

Lomiko Metals is also pleased to announce that it has engaged a leading global automotive supplier to evaluate GraphanoTM for use in electric vehicle batteries.