Lomiko Financing Update

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 4, 2014) - Lomiko Metals Inc. (TSX VENTURE:LMR) (the "Company" or "Lomiko"). Further to the Company's press release dated January 29, 2014, the Company announces that it has increased its non-brokered offering from 7,692,307 flow-through units to 15,384,615 units (the "Private Placement Units") for gross proceeds of up to $2,000,000 (the "Private Placement"). The securities underlying the Private Placement Units will be issued on the same terms as the securities underlying the Flow-Through Units to be issued under the Public Offering (as referred to in the Company's press release dated January 29, 2014). The Private Placement will be carried on a private placement basis pursuant to prospectus exemptions of applicable securities laws. The securities to be issued under the Private Placement will be subject to a four-month hold period from the closing date of the Private Placement. A finder's fee in connection with the Private Placement is expected to be paid to an arm's length third party of Lomiko. Lomiko will allocate the financing to subscribers found by Secutor Capital Management Corp.

The net proceeds from the Private Placement will be used by Lomiko primarily in connection with the exploration program on the Quatre-Milles East and West mineral properties (Quebec).

Closing of the Private Placement is expected to occur on or about February 11, 2014 and is subject to customary conditions and regulatory approval, including the approval of the TSX Venture Exchange.

The Private Placement Units have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the "1933 Act"), and may not be offered, sold or delivered, directly or indirectly, within the United States, or to or for the account or benefit of U.S. persons unless the Private Placement Units are registered under the 1933 Act or pursuant to an applicable exemption from the registration requirements of the 1933 Act. This press release does not constitute an offer to sell, nor it is a solicitation of an offer of securities, nor shall there be any sale of securities in any state of the United States in which such offer, solicitation or sale would be unlawful.

On Behalf of the Board

A. Paul Gill, Chief Executive Officer

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.