Lomiko Metals Inc.

Lomiko Metals Inc.

July 27, 2011 09:15 ET

Lomiko Adds 414 Ha to Vines Lake Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 27, 2011) - Lomiko Metals Inc. (TSX VENTURE:LMR)(PINK SHEETS:LMRMF)(Europe: ISIN: CA54163Q1028, WKN: A0Q9W7) ("Lomiko" or "the Company) has staked an additional 414 Ha directly west of the Vines Lake claims. Lomiko now holds the rights to four contiguous mineral tenures, totaling 1,583 Ha located in the southwestern corner of the Cassiar District or 'Cassiar Camp'.

Due to the property's close proximity to formerly producing mines with a proven history in the Cassiar Mining Camp, it is the opinion of the Company that potential exists on the 100% owned Vines Lake Property for discovering new high-grade gold vein systems. Also, there is a potential for other intrusion related mineralization in proximity to the Cassiar Batholith and its associated boundary contacts, over which Lomiko's Vines Lake property claims are located.

Cassiar Area Highlights:

  • A new company with Chinese investors known as China Minerals Mining Corporation is located adjacent to the property.
  • A fully permitted 270 tonne per day, gravity and flotation mill, power plant, assay laboratory and tailings impoundment facility is owned by China Minerals.
  • Approximately 316,000 ounces of gold have been produced at the adjacent Table Mountain Mine from 1979-2007 under various companies.
  • Current Resource Estimates for the Table Mountain Mine are 21,471 tonnes grading 18.02 g/t indicated and 65,757 tonnes grading 24.3 g/t inferred were reported at the adjacent property in the May, 2010 NI43-101 Technical Report on the Table Mountain Property by C. Pearson and F.J. Bakker.

Vines Lake Highlights:

  • Two significant anomalies have been identified by geophysical surveys. The claims cover formations of the Sylvester group, which are known to contain productive zones of gold mineralization in the area.
  • The Vines Lake Property is located approximately two kilometres southwest of the former Erickson gold mine.
  • Highway 37 N bisects the property north to south providing excellent year-round access.

Mr. Garth Kirkham, P.Geo., is a Director of Lomiko Metals Inc. in addition to being the Qualified Person for the Vines Lake Project and has reviewed the technical data in this news release.

On behalf of Lomiko Metals Inc.,

A. Paul Gill, President & CEO

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.

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