Yellow Fox

A two-phase soil sampling program in 2025, initially targeting the Mount Peyton monzogranite, prospective for critical metals (Sb, Pb, Zn, Au, Ag), resulted in the identification of several highly prospective critical metal soil anomalies with associated pathfinder elements, which exhibited a strong correlation to the Yellow-Fox showing. In addition, two REEs (Rare Earth Elements), Lanthanum (La) and Cerium (Ce) were also a part of the ICP package with assays indicating several highly prospective anomalies with Ce values up to 2,510 (See Table 1) parts per million (ppm) and La values up to 414 ppm. The largest anomaly (Anomaly#1) is approximately 500m in width and a minimum of 1300m in length (See Figure 1). The second anomaly (Anomaly#2), which is located immediately east of Anomaly #1, is approximately 175m in width and a minimum of 1000m in length. These new anomalies are trending roughly north (N)-northeast (NE), similar to that of the highly prospective regional structures, which also trend N-NE. Outcrops are sparse, especially on the eastern portion of the project. Many boulder trains are present, illustrating variable grain sizes and degrees of alteration, a further indication of a potential prospective host rock for both REE and critical metals mineralized systems.

Based on the promising REE results from the original ICP assays, seven samples were selected for additional analysis to determine if any additional REEs are present. A specific REE assay package was utilized.

Assay results for these seven soil samples indicated highly anomalous assays for both light rare earth elements (LREE) and heavy rare earth elements (HREE) (See Table 1). These new soil results indicate a strongly potentially geologically significant REE soil anomaly, highlighting a fertile monzogranite. This anomaly exhibits strong LREE enrichment (La-Ce-Pr-Nd-Eu) accompanied by highly elevated HREE (Dy-Tb-Y), potentially indicating a mixed LREE and HREE mineralized system. TREE (Total Rare Earth Element) values range from 1,683 ppm to 5,176 ppm. Initial soil samples in this range for TREE are highly promising and warrant follow-up exploration work. Of particular interest in these results is the highly anomalous LREEs Neodymium (Nd) and Praseodymium (Pr), which are instrumental in the manufacturing of magnets. Elevated dysprosium (Dy) is also present, which is a HREE and enables magnets to perform at high temperatures. Thorium, which is often seen as a pathfinder for REE, is also present in elevated numbers.

Highlights:

• 7 soil samples were re-run for the Rare Earth Elements (“REE”) specific test package for assays outlining the cerium anomaly and to check for other REE elements, including neodymium, praseodymium, gallium, etc.
• Soil samples assaying from 1697ppm to 5176 ppm or (0.52%) REEs.
• NEW potential rare earth discovery.
• Highly anomalous LREEs Neodymium (Nd) from 186 to 890ppm and Praseodymium (Pr) at 46-192ppm, which are instrumental in the manufacturing of magnets.
• Elevated dysprosium (Dy) at 36 – 191ppm.
• Identification of multiple highly anomalous REE soil anomalies (See Figure 1).
• REEs hosted within Mount Peyton monzogranite.
• REE anomalies roughly parallel to previously outlined Sb-Zn-Pb-Ag critical metal anomalies.

Strategic growth in the green technology and defense sectors will contribute to increased demand for REEs. The primary drivers for the increased use of REEs include wind turbines, electric vehicles, defense and aerospace, as well as advanced electronics.

Last summer saw the identification of several expansive, untested critical metal soil anomalies (Sb-Pb-Zn-Ag-Au) up to 1,200m in length, which also included the discovery of highly anomalous REE values (La, Ce). These REE results, in conjunction with the seven samples discussed in this release, further indicate a second type of highly prospective, untested targets with highly anomalous LREE and HREE assays on top of the more common Ce and La.

Phase I & II soil sampling has proven to be highly successful in locating and delineating potential mineralized structures on the Yellow Fox project, especially given the lack of outcrop. The next stages or work will include line cutting and ground geophysics to better define the orientation and location of high-priority targets, followed by surface trenching and geological mapping.

Yellow Fox antimony and REE prospect exploration – future steps

• Next work phase will include additional re-assaying of previously collected soil samples for REEs, as well as infill soil sampling between lines to better define the true extent and orientation of these REEs anomalies
• Ground geophysics followed by surface trenching
• Line cutting, drilling, ground geophysics, and surface trenching permits have been received.
• Surface stripping will be followed by channel sampling and geological mapping

Location Details

The Yellow Fox Property is located approximately 10 km southwest of the Town of Glenwood NL, and south of the Trans-Canada Highway. The property is located within NTS map sheets 02D/14 and 15, offering excellent access along several logging and skidder roads that originate from Glenwood. The main Yellow Fox showing is located in the central part of License 027536M, 5km from the western end of Gander Lake. The property is centered at approximately UTM (NAD 27) grid coordinates 5,419,400m North and 645,300m East.

Geologically, Yellow Fox exhibits similar traits to those of Beaver Brook, with cross-cutting structural zones that show intense carbonate alteration with sulphide-bearing stringers to veins of stibnite and arsenopyrite with similar high-grade tenors of antimony, gold, lead, zinc, and silver. Arsenopyrite is also present in both locations. Two prominent fracture vein sets are present, one being the muscovite-pyrite-rutile veins trending 356 degrees and the second stibnite-quartz-arsenopyrite being the most abundant and trending 025 degrees. Both of these vein sets are similar to those of the past-producing Beaver Brook antimony Mine, and both vein sets trend in a N to NE direction, which is consistent with the prospective regional structures. Yellow Fox has never been explored for REEs. Importantly, the project is underlain by the Mount Peyton intrusion, which potentially appears to be a fertile environment for the emplacement of REEs. Initial interpretation indicates REEs are located near the intrusive contact with neighboring volcanics and sediments.

The surface soil and grab samples described in this news release are selective by nature and are unlikely to represent average grades on the property.

Please note that the results on an adjacent or nearby property (Beaver Brook) are not necessarily what can be expected on the Yellow Fox project, and that the results of surface or grab samples, by their nature, are selective, and that the assay results may not be indicative of underlying mineralization.

Qualified Person

The technical content presented in this press release was reviewed and approved by Gordana Slepcev, P.Eng., who is the CEO & President of Lomiko Metals and acts as the “Qualified Person” as that term is defined under National Instrument 43-101, Standards of Disclosure for Mineral Projects. Also, Wayne Reid, P.Geo, and director for the Corporation (MEK) and a qualified person as defined in National Instrument 43-101, has reviewed and approved the disclosure of the exploration information in this news release.

All 851 initial soil samples from this past summer’s programs were dried and then sent to Eastern Analytical Ltd., located in Springdale, Newfoundland, Canada. Samples are analyzed by the ICP34 method that delivers a 34-element package and analyzed by the ICP-OES analytical technique with blanks and standards inserted every 20-25 samples. The 7 samples in this press release were sent to Bureau Veritas, located in Vancouver, British Columbia, Canada. Samples are analyzed by ICP-OES utilizing a multi-acid digestion analytical technique. No standards or blanks were added to this batch of 7 samples.