Lomiko Resources Inc.

Lomiko Resources Inc.

June 13, 2008 19:01 ET

Lomiko Graduates to Tier 2

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 13, 2008) - Lomiko Resources Inc. (the "Company") (TSX VENTURE:LMR) is pleased to announce that the TSX Venture Exchange have approved the following transactions which has now enabled the Company to advance from NEX to TSX Venture - Tier 2.

Property Asset

The Company optioned the Joss'alun Property from Copper Ridge Exploration Inc. (TSX:KRK) in 2006 and thereafter amended certain terms in August 2007. A 51% interest in the Joss'alun Property may be acquired by the Company issuing an aggregate of 440,000 common shares, at a deemed price of $0.50 per share, paying $10,000 cash and incurring $2,500,000 in exploration expenditures, all to be completed by July 31, 2011. At its discretion, the Company may acquire an additional 9% interest (for a total of 60%) by issuing an additional 200,000 common shares, at a deemed price of $0.50 per share and incurring an additional $1,500,000 in exploration expenditures over the 5th and 6th year period. The Joss'alun Property is subject to a 1% NSR.

The Company has also entered into an agreement with Imperial Metals Corp. to option Imperial's Nak property in the Atlin mining division of British Columbia. The Nak property adjoins the Company's Joss'alun Property and previous work by Imperial and others has discovered numerous prospective showings that overlap the two properties. To earn a 50% interest, the Company is required to spend $2,500,000 on the Nak property over four years ($100,000 in the first year), pay $10,000 and issue 440,000 common shares (25,000 shares upon signing and 50,000 at the end of year one). To earn a 60% interest, the Company must spend an additional $750,000 and issue 100,000 additional common shares in each of years five and six. Imperial has the right to earn back 15% of the Company's 50% by spending $1,500,000 in 30 months, or to earn back a 25% interest (of the Company's 60%) by spending $3,300,000 over 30 months.


On September 11, 2007, the Company closed its private placement as to 1,000,000 flow-through shares and 1,000,000 common shares and raised $500,000 which enabled the Company to have adequate funds required to advance to Tier 2. The securities were issued having a hold period which expired January 12, 2008.

Change of Business

The transactions which were involved with the Change of Business were approved by the shareholders of the Company on April 18, 2008.

The Company is now classified as a "Mineral Exploration" company.

Escrow Shares

The principals of the Company entered into an escrow agreement wherein 1,678,333 common shares are subject to an 18 month stage release.

Graduation and Symbol Change

Effective on Friday, June 13, 2008 the Company's listing was transferred from NEX to TSX Venture, Tier 2 and its symbol was changed to LMR.

The Company is excited about its advancement and looks forward to a bright future.


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.

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