The Cliftonhill gaffer is now without the services of striker Christie Elliot after he returned to parent club Partick Thistle at the end of a loan spell.
Albion sit five points adrift at the bottom of the Irn-Bru Second Division and Lumsden is keen to source some more firepower for season run-in.
He said: "We are looking to bring another striker in if we can.
"Christie has gone back to Thistle now so we would like to get another striker in because we are only sitting with three at the moment and we would like to strengthen in that area.
"The problem is that we have only got one loan deal left to use and it needs to be a player that is under 21, so that restricts who is available and who we can bring in.
"We want to bring players in but it is not as easy as saying 'right, we will go and get him'. It is tricky, but we will keep looking.
"We are always looking but with us only having the one loan left, it might have to be someone that gets their contract terminated or is already a free agent or even someone from the Junior game.
"There are chances to get people in, but it is about making sure that you are bringing in the right player."