Lomiko Metals Inc. (TSX.V: LMR) has announced an amendment to its Option Agreement with Critical Elements Lithium Corporation, offering a pathway to increase its stake in the Bourier Lithium Project from 49% to 70%. To accomplish this, Lomiko will make a cash payment, share issuance, and fund further exploration.

Bourier Project Amendment Details

Under the updated terms, Lomiko is granted an exclusive right to up its interest by meeting financial commitments and delivering a compliant resource estimate by specific deadlines.

Lomiko’s Commitment and Timeline

Lomiko must complete:
(a) Cash and Shares Commitment by March 31, 2024.
(b) Expenditures Commitment by December 31, 2025.
(c) Resource Estimate by December 31, 2025.

Investor Events Update

Lomiko’s CEO, Belinda Labatte, will present at the upcoming Battery and Precious Metals Virtual Investor Conference and will be live at PDAC in Toronto, where participants can engage with the company’s management and learn more about their unique mining ecosystem.

About Lomiko Metals Inc.

Lomiko holds mineral interests in the La Loutre graphite development project, situated in southern Quebec within KZA First Nation’s territory. With updated mineral resource estimates indicating significant graphite deposits, Lomiko remains focused on mineral exploration and development.

For further engagement, please contact Gordana Slepcev or Belinda Labatte at 1-833-456-6456 or email: info@lomiko.com.

Disclaimer:
The content presented on this page has not been manually verified by our team. While we strive to ensure accuracy, we cannot guarantee the validity, completeness, or timeliness of the information provided. Always consult with appropriate professionals or sources before making any decisions based on this content.

Click here for more Company News