Mkango Resources Limited Announces Exercise of Warrants

LONDON, UNITED KINGDOM AND VANCOUVER, BC / ACCESS Newswire / October 17, 2025 / Mkango Resources Ltd (AIM/TSX-V:MKA) (the "Company" or "Mkango"), announces that it has received an exercise notice from a Mkango warrant holder to exercise 1,200,000 warrants over common shares in the Company, at a price of five (5) pence per common share. Accordingly, the Company will issue 1,200,000 common shares ("Warrant Shares") to satisfy this exercise.

Foto: Accesswire

The Warrant Shares will rank pari passu with the Company's existing shares and application has been made for the Warrant Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and dealings in the Warrant Shares will commence at 8:00 am on or around 22 October 2025. The Warrant Shares will also be listed for trading on the TSX-V.

In accordance with the Disclosure Guidance and Transparency Rules (DTR 5.6.1R) the Company hereby notifies the market that immediately following Admission, its issued and outstanding share capital will consist of 347,192,907 shares. The Company does not hold any shares in treasury. Shareholders may use this figure as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

About Mkango Resources Ltd.

Mkango is listed on the AIM and the TSX-V. Mkango's corporate strategy is to become a market leader in the production of recycled rare earth magnets, alloys and oxides, through its interest in Maginito, which is owned 79.4 per cent by Mkango and 20.6 per cent by CoTec, and to develop new sustainable sources of neodymium, praseodymium, dysprosium and terbium to supply accelerating demand from electric vehicles, wind turbines and other clean energy technologies.

Maginito holds a 100 per cent interest in HyProMag and a 90 per cent direct and indirect interest (assuming conversion of Maginito's convertible loan) in HyProMag GmbH, focused on short loop rare earth magnet recycling in the UK and Germany, respectively, and a 100 per cent interest in Mkango Rare Earths UK Ltd ("Mkango UK"), focused on long loop rare earth magnet recycling in the UK via a chemical route.

Maginito and CoTec are also rolling out HPMS recycling technology into the United States via the 50/50 owned HyProMag USA LLC joint venture company.

Mkango also owns the advanced stage Songwe Hill rare earths project in Malawi ("Songwe") and the Pulawy rare earths separation project in Poland ("Pulawy"). Both the Songwe and Pulawy projects have been selected as Strategic Projects under the European Union Critical Raw Materials Act. Mkango has signed a BCA with CPTK to list the Songwe Hill and Pulawy rare earths projects on NASDAQ via a SPAC Merger.