Biden Joins House, Senate and White House Call for a North American Critical Minerals Mining Strategy

ID: 1561728
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(businesspress24) - (Vancouver, Canada October 26th, 2020 Lomiko Metals Inc. (Lomiko) (TSX-V: LMR, OTC: LMRMF, FSE: DH8C) is focused on the exploration and development of graphite for the new green economy. Lomiko has been monitoring emerging legislation aimed at reducing dependence on Chinese supply of graphite, lithium and other electric vehicle battery materials. 100% of graphite is currently imported to the United States as there is no domestic graphite mines able to produce material for graphite anodes used in Electric Vehicles. Please also refer to news release September 9, 2020 and October, 7 2020 related to changing government policies regarding critical minerals.

US Election Bonus for Critical Minerals Mining

In a boon for the critical minerals mining industry, former Vice President and current Presidential frontrunner Joe Bidens campaign has privately told US miners it would support boosting domestic production of metals used to make electric vehicles, solar panels and other products crucial to his climate plan, according to three sources familiar with the matter.

Biden, who served as Obamas vice president and is well-regarded in conservation circles, has been expected to continue in that vein. The US Democratic presidential candidate also supports bipartisan efforts to foster a domestic supply chain for graphite, lithium, copper, rare earths, nickel and other strategic materials that the United States imports from China and other countries, the sources said. Biden is also well-regarded by the Canadian government on issues of mining and green energy which has a Canada-US supply strategy agreement.

On September 28, 2020, Canadian Ministers discussed opportunities to drive Canadas natural resources advantage by building on Canadas strong environmental, social and governance performance record to attract investment, generate new value chains and create job opportunities across Canada, including for Indigenous businesses and communities. Ministers agreed that an inclusive approach that builds capacity and ensures diversity is a key ingredient to Canadas successful economic recovery.



Co-chaired by the Honourable Seamus ORegan, Canadas Minister of Natural Resources and the Honourable Ranj Pillai, Deputy Premier and Minister of Energy, Mines and Resources for Yukon, they agreed to work together to build an all-Canadian Critical Minerals and Battery value chain across sectors and pursue engagement with our partners in the U.S. and beyond.

"Canadas economy is in a strong position to recover and excel post-Covid because of our natural resource potential. All communities across Canada should play a part, whether it is contributing critical minerals to the supply chain, advancing innovative energy development, or adding jobs and capacity to our remote and northern communities. The Honourable Ranj Pillai

Lomikos Opportunity in the Supply Chain

Graphite demand is expected to increase exponentially for the mined natural graphite material, as more is used in the production of spherical graphite for graphite in the anode portion of Electric Vehicle Lithium-ion batteries.

With a completion of a $ 750,000 financing October 23, 2020, Lomiko plans to work on its near-term goals of the company are as follows:

1) Complete 100% Acquisition of the Property, currently 80% owned by Lomiko Metals.

2) Complete metallurgy and graphite characterization to confirm li-ion anode grade material.

3) Complete a Technical Report to confirm the extent of the mineralization equals or surpasses the nearby Imerys Mine, owned by international mining conglomerate.

A "technical report" means a report prepared and filed in accordance with this Instrument and Form 43-101F1 Technical Report, and includes, in summary form, all material scientific and technical information in respect of the subject property as of the effective date of the technical report;

4) Complete Preliminary Economic Assessment (PEA)

A PEA means a study, other than a pre-feasibility or feasibility study, that includes an economic analysis of the potential viability of mineral resources.

For more information on Lomiko Metals, Promethieus, review the website at www.lomiko.com, and www.promethieus.com, contact A. Paul Gill at 604-729-5312 or email: info(at)lomiko.com.

On Behalf of the Board

A. Paul Gill

Director, Chief Executive Officer

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), accept responsibility for the adequacy or accuracy of this release.




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Date: 10/26/2020 - 03:05
Language: English
News-ID 1561728
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Firma: Lomiko Metals Inc.
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