Are milt lobe finned fish with paddle like fins?

You seem to be getting things a bit mixed up. Yes "Lobe fins" are paddle like fins. The more primitive (prehistoric) fish like the Coelocanth and the Australian Lung Fish have pectoral fins described as "lobed fins". However these have absolutely nothing to do with "milt". Milt is the name given to the substance spread by male fish to fertilise the females ova (eggs). It is the equivalent of sperm in mammals.