Lomiko Metals Inc. — Capital/Financing Update 2021

Feb 1, 2021

Form 51-102F3 MATERIAL CHANGE REPORT

ITEM 1. NAME AND ADDRESS OF COMPANY

Lomiko Metals Inc. #439, 7184 120[th] Street Surrey, BC, V3W 0M6 Phone: (778) 228-1170 Fax: (604) 583-1932 (the “Issuer”)

ITEM 2. DATE OF MATERIAL CHANGE

January 27, 2021 ITEM 3. NEWS RELEASE

The press release was issued on January 27, 2021 to the TSX Venture Exchange and through various other public media (Canada Stockwatch and Market News Inc.) and filed on SEDAR– all in accordance with the policies of the regulatory authorities.

ITEM 4. SUMMARY OF MATERIAL CHANGE

Vancouver, BC, January 27, 2021 – LOMIKO METALS INC. (TSX-V: LMR, OTC: LMRMF, FSE: DH8C), (the “Company”) announces it has closed its private placement and raised total proceeds of $1,000,250. A total of 13,336,666 units (the “Units”) have been subscribed for at a price of $0.075 per Unit, each Unit consisting of one (1) common share and one warrant exerciseable for two years at $0.10. Finder fees have agreed to be paid, pursuant to the policies of the TSX-V. The securities will be issued February 1, 2021 (due to the change in transfer agent, as noted below) with a hold period expiring June 2, 2021. The net proceeds will be for general working capital.

The Company also announces the appointment of Olympia Trust Company as the Company’s registrar and transfer agent effective February 1, 2021. Olympia Trust will now be responsible for all transfers of the Company’s shares through their office in Vancouver replacing Computershare Trust Company of Canada, which has resigned at the Company’s request. Shareholders need take no action in respect of the change in transfer agent and register.

ITEM 5. FULL DESCRIPTION OF MATERIAL CHANGE

Vancouver, BC, January 27, 2021 – LOMIKO METALS INC. (TSX-V: LMR, OTC: LMRMF, FSE: DH8C), (the “Company”) announces it has closed its private placement and raised total proceeds of $1,000,250. A total of 13,336,666 units (the “Units”) have been subscribed for at a price of $0.075 per Unit, each Unit consisting of one (1) common share and one warrant exerciseable for two years at $0.10. Finder fees have agreed to be paid, pursuant to the policies of the TSX-V. The securities will be issued February 1, 2021 (due to the change in transfer agent, as noted below) with a hold period expiring June 2, 2021. The net proceeds will be for general working capital.

The Company also announces the appointment of Olympia Trust Company as the Company’s registrar and transfer agent effective February 1, 2021. Olympia Trust will now be responsible for all transfers of the Company’s shares through their office in Vancouver replacing Computershare Trust Company of Canada, which has resigned at the Company’s request. Shareholders need take no action in respect of the change in transfer agent and register.

5.2 Disclosure for Restructuring Transactions

N/A ITEM 6. RELIANCE ON SUBSECTION 7.1(2) OR (3) OF NATIONAL INSTRUMENT 51-102 N/A ITEM 7. OMITTED INFORMATION N/A

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ITEM 8. EXECUTIVE OFFICER

To obtain further information contact Mr. A. Paul Gill, the CEO of the Issuer, at 604-729-5312.

ITEM 9. DATE OF REPORT

Dated at Vancouver, BC this 1[st] day of February, 2021.

Signed: “Paul Gill”

A. Paul Gill, President