Mkango Announces Share Option and RSU Awards and Exercise of Warrants
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MKANGORESOURCESLTD.
550BurrardStreet
Suite2900
Vancouver
BCV6C0A3
Canada
MKANGO ANNOUNCES SHARE OPTION AND RSU AWARDS
AND EXERCISE OF WARRANTS
London / Vancouver: 27 March 2025–MkangoResourcesLtd(AIM/TSX-V:MKA)(the“Company”or“Mkango”),
announces that, subject to regulatory approval, Mkango has granted 800,000 stock options over 800,000
commonsharesoftheCompany(“Options”)todirectors,officersandemployeesoftheCompanyinaccordance
with the Company=s existing Option Plan, and 1,455,000 Restricted Share Units (“RSUs=) to officers of the
CompanyinaccordancewithitsexistingRSUPlan.
EachOptionisexercisableforonecommonshareofMkango(“MkangoShares”),withanexercisepriceof$0.255
CAD (approximately 13.9p using an exchange rate of 1.84 CAD:GBP) per common share, being the closing price
of the Mkango Shares on the TSX-V on 26 March 2025. The Options will vest over the next 18 months and are
validforaperiodoftenyearsfromthedateofthegrant.
The Options granted to the following directors and officers are in accordance with the Company=s Stock Option
Plan.
Name of director/officer Proposed New Options Total Options Held after
grant
ShaunTreacy
Non-ExecutiveDirector
210,000 1,580,000
SusanMuir
Non-ExecutiveDirector
210,000 1,580,000
PhilipaVarris
Non-ExecutiveDirector
210,000 610,000
The Company has also issued 1,455,000 Restricted Share Units to Will Dawes, Alexander Lemon and Robert
Sewell with certain vesting conditions. Each RSU will, upon vesting, be capable of being redeemed for one
MkangoShare.
Of the total number of RSUs, 20% of these RSUs are contingent on first production being achieved in the UK by
theendofQ2 2025,40% arecontingent onfirst productionbeing achievedinGermanybytheendof2025,and
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40% are contingent on the listing of Lancaster Exploration on the NASDAQ exchange and the successful
completionoftheSPACtransactionbytheendof2025.
Name of director/officer Proposed New RSUs Total RSUs Held after
award
WillDawes
ChiefExecutiveOfficer
500,000 5,239,717
AlexanderLemon
President
500,000 5,239,717
RobertSewell
ChiefFinancialOfficer
455,000 2,402,589
Following the issue of Options and the grant of RSUs referred to above, the total number of common shares
issuable pursuant to the Company=s securities-based compensation plans is 31,600,357, representing 9.7 per
cent of the Company's total issued share capital (taking into account the exercise of the warrants referred to
below).
EXERCISE OF WARRANTS
The Company has received notification that one of Mkango=s warrant holders has exercised 209,375 warrants
overcommonsharesintheCompany,atapriceofeight(8)pencepercommonshare.Accordingly,theCompany
hasprovisionallyissued209,375commonsharestosatisfythisexercise.
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
effectiveanddealingsinthePlacementShareswillcommenceat8:00amonoraround4April2025.TheWarrant
ShareswillbesubjecttoastatutoryholdperiodinCanadaexpiringonthedatethatisfourmonthsandoneday
fromissuanceoftheWarrants,andwillalsobelistedfortradingontheTSX-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
327,052,907shares.TheCompanydoesnotholdanysharesintreasury.Shareholdersmayusethisfigureasthe
denominator for the calculations by which they will determine if they are required to notify their interest in, or
achangetotheirinterestin,theCompanyundertheFinancialConductAuthority=sDisclosureandTransparency
Rules.
About Mkango
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, and to develop new
sustainable sources of neodymium, praseodymium, dysprosium and terbium to supply accelerating demand
fromelectricvehicles,windturbinesandothercleanenergytechnologies.
Maginito holds a 100 per cent interest in HyProMag Limited (“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
earthmagnet recycling intheUKandGermany,respectively,anda100 percent interest inMkangoRareEarths
UKLtd(“MkangoUK”),focusedonlonglooprareearthmagnetrecyclingintheUKviaachemicalroute.
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Maginito and CoTecare also rolling out HyProMag=s recycling technology into the United States via the 50/50
ownedHyProMagUSALLCjointventurecompany.
Mkango also owns the advanced stage Songwe Hill rare earths project and an extensive rare earths, uranium,
tantalum, niobium, rutile, nickel and cobalt exploration portfolio in Malawi, and the Pulawy rare earths
separationprojectinPoland.
Songwe Hill is one of the few rare earths projects to have progressed to the Definitive Feasibility Stage, with an
expected life of mine of 18 years, producing a 55% mixed rare earth carbonate, yielding 1,953 tons per annum
ofNdPrand56tonsperannumofDyTb.
Mkango=sproposedPulawyseparationfacilitysite,locatedinaSpecialEconomicZoneinPoland,standsadjacent
to the EU=s second largest manufacturer of nitrogen fertilisers, and features established infrastructure, access
to reagents and utilities on site. The Pulawy rare earths separation project in Poland has been designated as a
StrategicProjectbytheEuropeanCommissionundertheCriticalRawMaterialsAct(“CRMA”).
MkangohassignedaletterofIntentwithCrownPropTechAcquisitionstolistMkango'sSongweHillandPulawy
RareEarthsProjectsonNASDAQviaaSPACMerger.
Formoreinformation,pleasevisit 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”, “expects” 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 occur, 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 limiting the
foregoing, the availability of(or delaysin obtaining)financing to develop Songwe Hill, and the variousrecycling
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
developmentofSongweHill,thevariousrecyclingplantsintheUK,GermanyandtheUSaswellastheseparation
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 recycling 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
recyclingandthedevelopmentofthevariousrecyclingandseparationplantsofMkangoandMaginitoandfuture
investments in the United States pursuant to the cooperation agreement between Maginito and CoTec, the
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outcome and timing of the completion of the feasibility studies, cost overruns, complexities in building and
operatingtheplants,andthepositiveresultsoffeasibilitystudiesonthevariousproposedaspectsofMkango=s,
Maginito=sandCoTec=sactivities.Theforward-lookingstatementscontainedinthisnewsreleasearemadeasof
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.
For further information on Mkango, please contact:
Mkango Resources Limited
WilliamDawes AlexanderLemon
ChiefExecutiveOfficer President
[email protected] [email protected]
Canada:+14034445979
www.mkango.com
@MkangoResources
SP Angel Corporate Finance LLP
NominatedAdviserandJointBroker
JeffKeating,JenClarke,DevikMehta
UK:+442034700470
Alternative Resource Capital
JointBroker
AlexWood,KeithDowsing
UK:+442071869004/5
The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. Neither
theTSXVentureExchangenoritsRegulationServicesProvider(asthattermisdefinedinthepoliciesoftheTSX
Venture Exchange) accepts responsibility 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 equity or other
securities of the Company in the United States. The securities of the Company will not be registered under the
UnitedStatesSecuritiesActof1933,asamended(the"U.S.SecuritiesAct")andmaynotbeofferedorsoldwithin
theUnitedStatesto,orfortheaccountorbenefitof,U.S.personsexceptincertaintransactionsexemptfromthe
registrationrequirementsoftheU.S.SecuritiesAct.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL
RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM:
1 Details of the person discharging managerial responsibilities / person closely associated
a) Name 1) WilliamDawes
2) AlexanderLemon
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3) RobertSewell
4) ShaunTreacy
5) SusanMuir
6) PhilipaVarris
2 Reason for the notification
a) Position/status 1) ChiefExecutiveOfficer
2) PresidentandCo-Founder
3) ChiefFinancialOfficer
3) Non-ExecutiveDirector
3) Non-ExecutiveDirector
3) Non-ExecutiveDirector
b) Initial
notification
/Amendment
InitialNotification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or
auction monitor
a) Name MkangoResourcesLtd
b) LEI 213800RPILRWRUYNTS85
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each
type of transaction; (iii) each date; and (iv) each place where transactions have been
conducted
a) Description of
the financial
instrument,
type of
instrument
ProposedNewRSU=sandProposedNewOptions
Identification
code
ISIN:CA60686A4090
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b) Nature of the
transaction
IssueofCommonSharesinconnectionwithaPrivatePlacement
c) Price(s) and
volume(s)
Price(s) Volume(s)
1) nil
2) nil
3) nil
4) CAD$0.255
5) CAD$0.255
6) CAD$0.255
500,000
500,000
455,000
210,000
210,000
210,000
d) Aggregated
information
- Aggregated
volume
-Price
Price(s) Volume(s)
1-3)nil 1,455,000
4-6)CAD$0.255 630,000
e) Date of the
transaction
27March2025
f) Place of the
transaction
Outsideatradingvenue