LONDON & VANCOUVER, British Columbia, February 14, 2023 (GLOBE NEWSWIRE) –– Mkango Resources Ltd. (AIM/TSX-V: MKA) (“Company” or “Mkango”) acknowledges that William Dawes, CEO of the Company, has purchased 800,000 shares of 400,000 shares of our common stock (the “Shares”) without par value. was informed. 400,000 shares at a price of 12.95 pence a share, at a price of 12.75 pence a share.

After the purchase of shares, William Dawes is the beneficial owner or direct or indirect control of a total of 9,521,443 shares (representing 4.42%) of the Company. Total issued share capital and voting rights of the Company. William Dawes owns 975,238 of his shares in his own name, of which 8,546,205 of his shares are controlled through his Leo Mining & Exploration Limited. Leo Mining & Exploration Limited is headed by William Dawes, who owns 17.3% of the outstanding shares.

Market Abuse Regulation (MAR) Disclosure

The information contained in this announcement is deemed to constitute inside information as provided for in Market Abuse Regulations (EU) No. 596/2014 (“MAR”), which is incorporated into UK law by the European Union (Withdrawal) Act. is done. 2018. Upon publication of this announcement via the Regulatory Information Service, this inside information is considered to be in the public domain.

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Mkango’s corporate strategy is to develop new sustainable primary and secondary sources of neodymium, praseodymium, dysprosium and terbium to meet the accelerating demand from electric vehicles, wind turbines and other clean technologies. This integrated mining, refining and recycling strategy differentiates Mkango from its peers and gives it a unique position in the rare earth sector.

Mkango is developing Songwe Hill in Malawi, which completed a feasibility study in July 2022. Malawi is known as ‘the warm heart of Africa’ and is a stable democracy with existing road, rail and power infrastructure, and new infrastructure development underway.

In parallel, Mkango and Grupa Azoty PULAWY, a leading Polish chemical company and the second largest producer of nitrogen and compound fertilizers in the European Union, are building a rare earth separation plant (“Pulawy Separation Plant”) in Pulawy, Poland. The Pulawy Separation Plant processes refined mixed rare earth carbonates produced at Songwe Hill.

Through the ownership of Magineto (www.maginito.com), Mkango is also developing green technology opportunities in the rare earth supply chain, including neodymium (NdFeB) magnet recycling and innovative rare earth alloy, magnet and separation technology. Maginito is a British rare earth (NdFeB) magnet recycler, his HyProMag (www.hypromag.com), with an option to increase the interest rate to 49%.

Mkango also has an extensive exploration portfolio in Malawi, including the Mchinji Rutile Exploration Project, the Thambani Uranium-Tantalum-Niobium-Zircon Project and the Chimimbe Nickel-Cobalt Project.

For more information, see: www.mkango.ca

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements (within the meaning of terms under applicable securities laws) regarding Mkango. Forward-looking statements generally involve the use of words such as “plans,” “expects,” “anticipates,” “intends,” “estimates,” “intends,” “projects,” “believes,” or variations of the words. can be identified by Such words or phrases or specific actions, events, or results “could”, “might”, “could”, “would”, “should”, “could” Statements of “is” or “will” or negative connotations thereof. Readers are cautioned not to place undue reliance on forward-looking statements. There is no guarantee that the plans, intentions or expectations on which it is based will come to fruition. By their very nature, forward-looking statements involve a number of assumptions involving both general and specific known and unknown risks and uncertainties and are subject to projections, projections, forecasts and other forward-looking statements. Contributes to the possibility that the description about will not occur. future performance or results that differ materially from our estimates or projections of future performance or results expressed or implied by such forward-looking statements; Such factors and risks include, but are not limited to, government actions related to COVID-19, COVID-19, and the global spread of metals and related downstream products under investigation, research and development by Mkango. other market influences on demand and price, and related factors. Development of the Pulawy Separation Plant, the production facility in Baden-Württemberg and the Tyseley Energy Park (the “Plant”). Including feasibility study results and completion time, cost overruns, plant construction and operational complexity. , economic and government regulatory changes, positive results of feasibility studies, delays in obtaining funding or government approvals, environmental and other regulatory impacts related to Songwe and the plant. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, we disclaim any intention to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. and assume no obligation. Further, we undertake no obligation to comment on any third party expectations or statements regarding the above matters.

For more information on Mkango, please contact:

Mukango Resources Limited

blythe lei
financial publicity
Tim Bryce
UK: +44 207 138 3204

SP Angel Corporate Finance LLP
Nominee Advisor and Co-Broker
Jeff Keating, Kasia Buzzowska
UK: +44 20 3470 0470

alternative resource capital
joint broker
Alex Wood, Keith Dowsing
UK: +44 20 7186 9004/5

Bacchus Capital Advisors
financial adviser
Richard Allan
UK: +44 203 848 1642
UK: +44 7857 857 287
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TSX Venture Exchange neither endorses nor disapproves of the contents of this press release. Neither TSX Venture Exchange nor its regulated service providers (as those terms are defined in the TSX Venture Exchange Policy) are responsible for the adequacy or accuracy of this release.

This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any of our stock or other securities in the United States. Our securities are not registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), and may not be offered or sold in the United States or for U.S. accounts or interests. you can’t. Individuals, except for certain transactions that are exempt from registration requirements under the U.S. securities laws.

Notification and announcement of transactions by management and related parties