Lomiko Encouraged by Quebec Critical and Strategic Mineral Development Plan and U.S. – Canada Joint Action Plan on Critical Minerals

Rhea-AI Summary

Lomiko Metals Inc. (TSX-V: LMR, OTC: LMRMF) is closely following government initiatives in the Critical Minerals sector, particularly the Quebec Plan, projecting a 300-500% surge in graphite demand over the coming decades. The Plan aims to support local communities and companies with ethical mining practices and improve infrastructure for resource development.

Positive

• Quebec Plan predicts a significant increase in graphite demand by 300-500%.
• Government support for exploration and mining may reduce financial risks for Lomiko.
• Increased emphasis on ethical and responsible practices could attract more investments.

Negative

• None.

Lomiko Metals Inc. (TSX-V: LMR, OTC: LMRMF, FSE: DH8C) (Lomiko or the “Company) has been monitoring government initiatives within the Critical Minerals industry. Recently, the Quebec Plan for Development of Critical and Strategic Minerals (“The Quebec Plan”) indicated that graphite demand would likely increase 300-500% in the coming decades.

Key advantages for the La Looutre Flake Graphite Project (Graphic: Business Wire)

Government Initiatives

The Quebec Plan calls for support for companies and local communities in the development of critical and strategic mineral industries with ethical and responsible practices which would attract investment.

The Quebec Plan is prepared to support the exploration and mining of Critical and Strategic Minerals (CSMs) including sharing the financial risk of exploration and assistance in relations with local communities and First Nations. The Plan also addresses the need for infrastructure improvement and meshes with the Canada-U.S. Joint Action Plan on Critical Minerals Collaboration, which is focused on securing supply chains for the critical minerals needed for important manufacturing sectors in North America.

What is graphite and what is it used for?

Graphite is a naturally occurring crystalline form of carbon which is soft, greyish-black with a metallic sheen. Interest in graphite has increased because it is used in the lithium-ion batteries that power electric cars. However, there are other significant uses. In steelmaking it increases its carbon content and makes steel products stronger. In the automobile industry, graphite is used in gaskets, brake linings and clutch materials. It also has a range of other industrial uses, including in components of electric motors, batteries, lubricants, and pencils.

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

View source version on businesswire.com: https://www.businesswire.com/news/home/20210210005258/en/

FAQ

What is the Quebec Plan for Critical and Strategic Minerals?

The Quebec Plan aims to support the development of critical minerals, including graphite, and projects a significant increase in demand, potentially boosting investment in companies like Lomiko.

How does Lomiko Metals benefit from government initiatives?

Lomiko Metals may benefit from reduced financial risk in exploration and support with community relations due to government initiatives outlined in the Quebec Plan.

What is the expected graphite demand growth mentioned in the PR?

The Quebec Plan suggests that graphite demand could increase by 300-500% in the coming decades.

What industries utilize graphite?

Graphite is used in lithium-ion batteries, steelmaking, automobile parts, and various industrial applications.

What is Lomiko Metals' stock symbol?

Lomiko Metals is traded under the stock symbols LMR on TSX-V and LMRMF on OTC.