Lomiko Metals announces $1.75M private placement

News Release

October 27, 2017 TSX-V: LMR

(Vancouver, B.C.) Lomiko Metals Inc. (TSX-V: LMR; OTC: LMRMF; FSE: DH8C.F, WKN: A0Q9W7) (the “Company” or “Lomiko”) announces it will issue up to 2,187,500 Flow-Through Units (the “FT Units”) for aggregate proceeds of up to $350,000 at a price of $0.16 per FT Unit. Each FT Unit consists of one flow-through common share and one half-warrant exercisable for 24 months at $0.26. The Company will also issue up to 10,000,000 Non-Flow-Through Units (the “NFT Units”) for aggregate proceeds of up to $1,400,000 at a price of $0.14 per Unit. Each Unit consists of one common share and one share warrant exercisable for 24 months at $0.20.

A Finder’s fee may be paid in accordance with TSX Venture policies. The proceeds will be used to complete further drilling at the La Loutre Property in the Refractory Zone in order to define a resource in compliance with 43-101 and for working capital.

Financing Limitation

Flow-Through Units are only available to Canadian residents. This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or the securities laws of any state of the United States and may not be offered or sold within the United States or to, or for the account or the benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.

The previous financing announced June 23, 2017 with updated July 5, 2017 and August 23, 2017 is now closed. The financing announced August 31, 2017 is cancelled.

For more information, review the website at www.lomiko.com, or contact A. Paul Gill at 604-729-5312 or by email at: info@lomiko.com.

Signed: “A. Paul Gill”
A. Paul Gill,
President and 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.