Lomiko Metals Inc.
TSX VENTURE : LMR
PINK SHEETS : LMRMF

Lomiko Metals Inc.

July 21, 2011 08:00 ET

Lomiko Completes Phase I Exploration at Gold Property; Phase II Including Drilling to Commence in August

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 21, 2011) - Lomiko Metals Inc. (TSX VENTURE:LMR)(PINK SHEETS:LMRMF)(Europe: ISIN: CA54163Q1028, WKN: A0Q9W7) -

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LOMIKO METALS INC.'S ("Lomiko" or "the Company") Exploration Manager Lesley Hunt reports that Lomiko has completed Phase I of the 2011 Exploration Program at Vines Lake. The Exploration team has completed soil geochemistry survey at 50m spaced sample sites on 200m spaced lines. The soil grid covers a total of 74.7 line kilometers including the claim lines. A total of 1,358 soil samples were taken, bagged and sent to Stewart Group – Eco Tech Division in Kamloops, BC for analysis and further assaying. The property has several lakes and swamps where no soil samples could be obtained.

The program is designed to target both potentially high-grade gold vein systems, as seen at the adjacent Table Mountain Mine, in addition to the prospect of intrusion related mineralization.

Phase II of the 2011 Exploration Program which includes geological mapping and diamond drilling has commenced. Currently geologists are mapping known airborne geophysical anomalies and pending results will target geochemical soil anomalies. Diamond drilling will then further explore the resulting geophysical, geochemical and geological mapping anomalies in priority.

Lomiko holds the rights to three contiguous mineral tenures, totaling 1,169 Ha (2,888 Acres) located in the southwestern corner of the Cassiar Gold District or 'Cassiar Gold 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.

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On behalf of Lomiko Metals Inc.,

Signed: "A. Paul Gill"
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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