Lomiko Resources Inc.

Lomiko Resources Inc.

June 25, 2008 02:04 ET

Lomiko Arranges Vines Lake Airborne Survey

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 25, 2008) - Lomiko Resources Inc. (TSX VENTURE:LMR) ("Lomiko" or the "Company") announced today that it has retained Canadian Mining Geophysics ("CMG") to complete an airborne survey of its Vines Lake Property located near Cassiar, B.C.

The aerial survey will be conducted with a Magnetic gradiometer with VLF-EM on 100 metre line spacing, fly 302 line km and will be used to identify gold exploration targets.

The company owns 100% interest in the Vines Lake Property consisting of three contiguous claim units totaling 1,196.4 hectares. The property is surrounded by land staked and/or purchased by Hawthorne Gold on three sides - North, East and South.

The property is located approximately 10 kilometres southeast of the town of Cassiar, British Columbia Canada. The claims cover rocks of the Sylvester group which are known to contain productive zones of gold mineralization in the area. The claim group is located approximately 2 kilometers north-east of the former Erickson Gold Mine. Highway 37 intersects the property and there are service facilities nearby. The area is on the Arctic slope with elevations ranging from 1,000 to 2,150 meters. There are no extraordinary environmental problems known as of this date.

In addition, Lomiko Resources Inc. (the "Company") wishes to announce a private placement in order to raise up to $500,000 from eligible participants through the sale of up to 1,250,000 units of the Company at a price of $0.40 per unit. The units will consist of one common share and one half share purchase warrant exercisable for one year at $0.50.

The funds raised will be used for working capital and exploration. There will be restrictions on the number of shares purchased by any one entity such that there will be no new insiders or control persons created. The Company has agreed to pay a cash finder's fee of 10% related to this financing.


KEN MORGAN, President & Chief Executive Officer

This press release has been prepared by management.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information