As far as I'm concerned LM (just like Aurich) only made zink awards and this looks very brassy to me. One can how ever never exclude an early tombak production, but judging by the missing details in the eagle's paws and the funny looking pin (which looks a bit like a losse hanging replacement) I would pass on this piece.
Sorry to say, that is a cast reproduction of an LM Minesweeper, probably a Staegemeir product. Pitted surface, wrong finish and incorrect bending of the main pin. If you can show a closeup of the catch I believe you will also see that it's soldered into place instead of being properly crimped.
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