Share Option Award
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MKANGO RESOURCES LTD.
550 Burrard Street
Suite 2900
Vancouver
BC V6C 0A3
Canada
SHARE OPTION AWARD
London / Vancouver: 9 June 2025 – Mkango Resources Ltd (AIM / TSX -V:MKA) (the “Company” or “Mkango”),
announces that, subject to regulatory approval, Mkango has granted 1,104,933 stock options over 1,104,933
common shares of the Company (“Options”) to Derek Linfield, Chairman of the Company, in accordance with the
Company’s existing Option Plan.
Each Option is exercisable for one common share of Mkango (“Mkango Shares”), with an exercise price of $0.315
CAD (approximately 17.0p using an exchange rate of 1.85 CAD:GBP) per common share, being the closing price
of the Mkango Shares on the TSX-V on 6 June 2025. The Options will vest over the next 18 months and are valid
for a period of ten years from the date of the grant.
These Options are being granted to Mr Linfield as he is now eligible to receive options following the forfeiture of
1,250,000 options on 10 May 2024 , which were reallocated to management of the Company in the form of
restricted share units as part of the management’s agreement to receive a portion of their salary in shares. That
forfeiture was in accordance with Toronto Venture Exchange policy , which stipulates a 12 -month cooling-off
period after forfeiture before new options may be granted. This grant reflects Mr Linfield’s ongoing contribution
as Chairman. The award has been reviewed and approved by the Company’s Remuneration Committee.
Following the issue of Options and referred to above, the total number of common shares issuable pursuant to
the Company’s securities-based compensation plans is 3 2,705,290, representing 10 per cent of the Company's
total issued share capital.
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 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 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
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 HyProMag’s 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 (“Songwe Hill”) in Malawi and the Pulawy
rare earths separation project in Poland (the Pulawy Project”).
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Both Songwe Hill and t he Pulawy Project have been designated as a Strategic Project s by the European
Commission under the Critical Raw Materials Act (“CRMA”).
Mkango has signed a letter of Intent with Crown PropTech Acquisitions to list Songwe Hill and the Pulawy Rare
Earths Projects on NASDAQ via a SPAC Merger.
For 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 and its various projects. 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 delays in obtaining) financing to develop Songwe Hill, and the various
recycling plants in the UK, Germany and the US as well as the P ulawy Project, 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 Pulawy
Project, 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 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 and Maginito’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.
For further information on Mkango, please contact:
Mkango Resources Limited
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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
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.
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.
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 Derek Linfield
2 Reason for the notification
a)
Position/status Chairman
b) Initial
notification
/Amendment
Initial Notification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or
auction monitor
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a) Name Mkango Resources Ltd
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
Proposed New Options
Identification
code
ISIN: CA60686A4090
b) Nature of the
transaction
Issue of Common Shares in connection with a Private Placement
c)
Price(s) and
volume(s)
Price(s) Volume(s)
CAD 0.315 1,104,933
d)
Aggregated
information
- Aggregated
volume
- Price
Price(s) Volume(s)
CAD 0.315 1,104,933
e) Date of the
transaction
9 June 2025
f) Place of the
transaction
Outside a trading venue