Exercise of Warrants
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MKANGO RESOURCES LTD.
550 Burrard Street
Suite 2900
Vancouver
BC V6C 0A3
Canada
EXERCISE OF WARRANTS
London / Vancouver: 16 July 2025 – Mkango Resources Ltd (AIM / TSX-V:MKA) (the “Company” or “Mkango”),
announces that it has received exercise notices from certain Mkango warrant holders to exercise 600,000
warrants over common shares in the Company , at a price of five (5) pence per common share and 5,090,000
warrants over common shares in the Company, at a price of seven (7) pence per common share. Accordingly, the
Company will issue 5,690,000 common shares to satisfy this exercise.
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 21 July 2025.
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
332,742,907 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 Limited
(“Maginito”), which is owned 79.4 per cent by Mkango and 20.6 per cent by CoTec Holdings Corp “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 to HyProMag Germany) in HyProMag Germany, 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 expanding HPMS recycling technology into the United States via the 50/50 owned
HyProMag USA 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 Business
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Combination Agreement with Crown PropTech Acquisitions to list the Songwe Hill and Pulawy rare earths
projects on NASDAQ via a SPAC Merger.
For more information, please visit www.mkango.caFor more information, please visit www.mkango.ca
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by the Company to constitute inside
information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ('MAR') which has been
incorporated into UK law by the European Union (Withdrawal) Act 2018. Upon the publication of this
announcement via Regulatory Information Service, this inside information is now considered to be in the public
domain.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward -looking statements (within the meaning of that term under applicable
securities laws) with respect to Mkango. Generally, forward looking statements can be identified by the use of
words such as “targeted”, “plans”, “expec ts” or “is expected to”, “scheduled”, “estimates” “intends”,
“anticipates”, “believes”, or variations of such words and phrases, or statements that certain actions, events or
results “can”, “may”, “could”, “would”, “should”, “might” or “will”, occur or be achieved, or the negative
connotations thereof. Readers are cautioned not to place undue reliance on forward -looking statements, as
there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By
their nature, forward-looking statements involve numerous assumptions, known and unknown risks and
uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts,
projections and other forward -looking statements will not occ ur, which may cause actual performance and
results in future periods to differ materially from any estimates or projections of future performance or results
expressed or implied by such forward -looking statements. Such factors and risks include, without li miting the
foregoing, the availability of (or delays in obtaining) financing to develop Songwe Hill, and the various recycling
plants in the UK, Germany and the US as well as the separation plant in Poland, governmental action and other
market effects on global demand and pricing for the metals and associated downstream products for which
Mkango is exploring, researching and developing, geological, technical and regulatory matters relating to the
development of Songwe Hill, the various recycling plants in the UK, Germany and the US as well as the separation
plant in Poland , the ability to scale the HPMS and chemical recycling technologies to commercial scale,
competitors having greater financial capability and effective competing technologies in the recycli ng and
separation business of Maginito and Mkango, availability of scrap supplies for recycling activities, government
regulation (including the impact of environmental and other regulations) on and the economics in relation to
recycling and the development of the various recycling and separation plants of Mkango and Maginito and future
investments in the United States pursuant to the cooperation agreement between Maginito and CoTec, the
outcome and timing of the completion of the feasibility studies, cost overruns, complexities in building and
operating the plants, and the positive results of feasibility studies on the various proposed aspects of Mkango’s,
Maginito’s and CoTec’s activities. The forward-looking statements contained in this news release are made as of
the date of this news release. Except as required by law, the Company disclaims any intention and assume no
obligation 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. Additionally, the Company undertakes no obligation
to comment on the expectations of, or statements made by, third parties in respect of the matters discussed
above.
The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. Neither
the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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This press release does not constitute an offer to sell or a solicitation of an offer to buy any equity or other
securities of the Company in the United States. The securities of the Company will not be registered under the
United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold within
the United States to, or for the account or benefit of, U.S. persons except in certain transactions exempt from the
registration requirements of the U.S. Securities Act.
For further information on Mkango, please contact:
Mkango Resources Limited
William Dawes Alexander Lemon
Chief Executive Officer President
[email protected] [email protected]
Canada: +1 403 444 5979
www.mkango.com
@MkangoResources
SP Angel Corporate Finance LLP
Nominated Adviser and Joint Broker
Jeff Keating, Jen Clarke, Devik Mehta
UK: +44 20 3470 0470
Alternative Resource Capital
Joint Broker
Alex Wood, Keith Dowsing
UK: +44 20 7186 9004/5