Lomiko Metals Inc.

Lomiko Metals Inc.

June 22, 2009 13:32 ET

Lomiko to Purchase 100% of Chile Lithium Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 22, 2009) - Lomiko Metals Inc. (TSX VENTURE:LMR) ("Lomiko" or the "Company") announces it has purchased 100% of 8 pedimentos (claims) making up 1900 Ha of the Chilean Salt Lake known as Salar de Aguas Calientes. The Company now owns eight (8) of nine (9) claims that make up the Salar. One (1) claim of 400 Ha is currently owned by Sociedad Quimica y Minera de Chile S.A. (SQM), the primary producer of Lithium in the region. A Google Earth image and claim map of the salar is available at www.lomiko.com.

The Board of Directors approved the purchase based on the following criteria:

- The Claims are in an excellent location adjacent to a main paved highway.

- The Salar has significant surface brines known to contain Lithium.

- The brines located on Lomiko claims were staked because of their excellent porosity and transmissivity(i), which is required for economic extraction.

- The claims purchased surround a mining concession held by Sociedad Quimica y Minera de Chile S.A. (SQM) at Lomiko's Salar de Aguas Calientes.(i)

- Producers such as SQM are searching for new sources of Lithium to meet or increase production requirements to meet current and anticipated market demand.

- The claims are within 70 km of the SQM production facility located at Salar de Atacama.

- The potential for partnership exists with SQM, the leading producer in the region.

- The Current market for Lithium Ion batteries is anticipated to grow 25% per year.

- The introduction of the electric car powered by Lithium Ion batteries will require new development of high grade Lithium Deposits to meet additional demand.

- The 'Lithium Triangle' located at the borders of Chile, Argentina and Bolivia contains 70% of the world's economic Lithium deposits.

- Forbes Magazine referred to the region as the "Saudi Arabia of Lithium".

(i) "The Salar de Atacama is the highest quality Lithium deposit in the
world. As a brine source, extraction is much less expensive and less
energy intensive than from hard rock minerals. The concentration of
Lithium in the brine is the highest in the world and the rate of natural
evaporation in the Atacama Desert is the highest in the world. In
absolute size the Salar de Atacama is the second largest single deposit
but is the largest deposit in terms of its economically recoverable
Lithium content. Seismic surveys of the Salar de Atacama carried out in
the 1970s showed that the highest porosity extends to a depth of
20 - 25m with some additional lower porosity halite down to 35m. Below
this depth, salt cores show complete recrystallisation of the halite
into a solid mass, devoid of any pores. This means there is no Lithium
to extract below the current pumping depth, only solid rock salt. Only
the upper 30m has high transmissivity, i.e. only in this region can
brine flow relatively freely to refill the areas from where it is
pumped out. Below the current extraction depth of 30 metres, there is
no Lithiumin the Salar de Atacama."

(The Trouble with Lithium: Under the Microscope, Meridian International
Research, March, 2008)

Lomiko paid $30,000 to acquire its current 50% of the 8 claims on June 15, 2009. On June 22, 2009, it entered into an agreement to acquire the remaining 50% of the above claims with the other 50% owner. Under the terms of agreement, Lomiko will pay $10,000 and complete a 43-101 on the property within three months of signing the agreement. Upon approval, the company will pay $55,000 and issue 1,000,000 shares in four (4) staged payments to be completed after TSX Venture approval of the transaction. The previous release of June 15, 2009 incorrectly noted that 50% of nine (9) claims were purchased. Only eight claims on the salar were targeted for acquisition at this time.


A. Paul Gill, Director

We seek Safe Harbour. 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