Sep. 22, 2009 (Baystreet.ca) --
LOMIKO METALS INC. (TSX-V:LMR) -- Lomiko Metals Inc. (the “Company”) announces it has entered into an acellerated purchase agreement for the exclusive rights to develop 100% of the 1,900 hectares of Chilean mineral claims. 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. (NYSE: SQM), the primary producer of Lithium in the region. Discussions regarding the remaining claim at the salar are continuing in Chile. A Google Earth image and claim map of the salar is available at www.lomiko.com. The Company has amended the terms of the Letter of Intent announced on June 22, 2009 whereby the amended consideration for such shall be payments in the aggregate amount of CAD $50,000, of which $20,000 has been paid to date, and the issuance of 1 million common shares at a deemed value of $0.065 per share. Also, the requirement for a 43-101 compliant report within three months has been removed pending consultant review and further transactions. The transaction is non-arms length as the parties involved are business associates and directors of the same public companies.
The above transaction is subject to regulatory approval.
For more information, please contact Paul Gill at 604-729-5312, email: lomiko@dccnet.com
On behalf of Lomiko Metals Inc.
Signed: “Paul Gill”
Paul Gill, President & CEO
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.
