Lykos Metals Limited announced exploration activities at the Company's 100%-owned Cajnice Project in Bosnia-Herzegovina. Initial drilling program at Gramusovici prospect is in progress. Drilling is progressing well, with two out of seven planned drillholes completed to date.

The remaining five holes of the program will target the copper-bearing target and porphyry system along strike to the north. Preparation is in progress for initial drilling at the next prospect (Berkovici), to twin four historical drillholes with reportedly high base metals (predominantly lead) results - precious metals were not analysed during historical drilling. Drilling will commence once the initial program at Gramusovici is completed.

Since the last exploration update, the reconnaissance has identified two new prospects: Majdan and Braha. Significant rock-chip sampling results warrant further work at these localities. Out of 1,925 samples planned, some 71% samples have now been collected and results for 23% of the total samples have been received.

The processed geophysical airborne EM and MAG results are expected in mid-June. Interpretation of geophysical results is expected to be completed by early-July. Note: polymetallic mineralisation is encountered at localities throughout the project area.

For easier reporting and comparison of assay results, figures in this report sometimes include the"gold equivalent" results. This is a simpler reporting measure that combines the results from gold, silver, copper, lead, antimony and zinc (normalised by their current commodity prices and the metallurgical recoveries from known deposits of similar mineralisation style).