Quatre Milles West Property Update
April 25, 2013 (Source: Lomiko Metals) Vancouver, BC — Lomiko Metals Inc. (TSX-V: LMR, OTC: LMRMF, FSE: DH8B) (the “Company” or “Lomiko”) wishes to update shareholders on the status of the letter of agreement it signed with three vendors on May 14th, 2012 to expand its Graphite property and acquire 100% interest in a further 2,180 hectare in Quatre Milles West, located in southern Quebec.
To earn 100%-interest in the above mentioned property, Lomiko must pay C$3,000, issue 1,800,000 shares and grant the vendors a 2% NSR of which the first 1% may be purchased for $1 million.
Get our daily investorintel update
The Company is working towards gaining Exchange acceptance of the above property agreement but must raise capital to satisfy the Exchange’s requirement that is has the necessary funds for exploration and operational costs. The Company is actively pursuing financing for this project and will update shareholders as events occur.
The Quatre Milles West Property covers the western extension of the geology that hosts the drilled graphite bearing structures at the Company’s Quatre Milles Property. The combined property now covers two separate claim blocks, one 8 km by 7 km, and the other 7 km by 5 km, which brings the expanded Quatre Milles Property from approximately 1,600 hectares to 3,780 hectares.
A map showing the expanded property will be posted to the Company’s website at: http://www.lomiko.com/properties/quatre.html
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.
InvestorIntel is a trusted source of reliable information at the forefront of emerging markets that brings investment opportunities to discerning investors.