April 27, 2021
(Montreal, Quebec) April 27, 2021 – Lomiko Metals Inc. (TSX-V: LMR, OTC: LMRMF, FSE: DH8C) (Lomiko or the “Company”) and Critical Elements Lithium Corporation (TSX-V: CRE) (US OTCQX: CRECF) (FSE: F12) (“Critical Elements” or the “Company”) are pleased to announce that Critical Elements and Lomiko have entered into an option agreement (“Agreement”) that gives Lomiko the right to acquire up to a 70% interest in the Bourier project.
“Recent consumer interest in electric vehicles has increased investor interest in Lithium and Graphite, two of the major components of a lithium-ion battery”, stated A. Paul Gill, Chief Executive Officer. “Quebec is in a unique position of having ample supply of both commodities and now Lomiko has opportunities in additional battery materials.”
“This option agreement with Lomiko will allow the Bourier property to be explored in detail for battery minerals discoveries, such as Lithium, Nickel, Copper and Zinc. Critical Elements is currently focused on the development of its Rose Lithium-Tantalum project. With Lomiko as a joint venture partner in the Bourier project, shareholders of both companies will be able to benefit from successful exploration of a highly prospective project,” stated Jean-Sébastien Lavallée, Critical Elements’ Chief Executive Officer.
The Bourier project consists of 203 claims for a total ground position of 10,252.20 hectares (102.52 km2 ) in a region of Quebec that boasts other lithium deposits and known lithium mineralization, as shown in the maps and table below. The Bourier project is potentially a new lithium field in an established lithium district.