Namibia Critical Metals Inc. Files NI 43-101 Pre-Feasibility Study Technical Report for the Lofdal Heavy Rare Earths “2B-4” Project

Press Release

Namibia Critical Metals Inc. Files NI 43-101 Pre-Feasibility

Study Technical Report for the

Lofdal Heavy Rare Earths “2B-4” Project

Halifax, Nova Scotia January 13, 2026 – Namibia Critical Metals Inc. (“Namibia Critical

Metals” or the “Company” or “NCMI”) (TSXV: NMI OTCQ: NMREF) is pleased to announce the

filing of the independent NI 43-101 Pre-Feasibility Study ( “PFS”) for the Lofdal Heavy Rare

Earths Project “2B-4” (“Lofdal” or the “Project”) in Namibia.

The Lofdal deposit has the potential for significant production of dysprosium (“Dy”), terbium

(“Tb”) and yttrium (“Y”) which are the main economic drivers for the Lofdal project.

The Project is being developed in joint venture with Japan Organization for Metals and Energy

Security (“JOGMEC”) targeting a long term, sustainable supply of heavy rare earths to Japan.

As previously reported on December 3, 2025, the NI 43-101 compliant report entitled Lofdal

Heavy Rare Earths Project 2B-4 Pre-Feasibility Study (PFS) Namibia (“the Report”) was

independently prepared by SGS Bateman (Pty) Ltd. as the principal author under the

supervision of Joseph Keane who is a Qualified Person in accordance with NI 43-101 –

Standards of Disclosure for Mineral Projects.

Darrin Campbell, President of Namibia Critical Metals stated:

“The quality and depth of this Report reflect the work of SGS and a team of highly respected

global experts. The Company extends its appreciation to all contributors for their

professionalism, technical rigor, and dedication in delivering this comprehensive Report.”

About Namibia Critical Metals Inc.

NCMI is developing the Tier-1 Heavy Rare Earth Project, Lofdal, a globally significant deposit

of the heavy rare earth metals dysprosium and terbium. Demand for these critical metals

used in permanent magnets for electric vehicles, wind turbines and other electronics is driven

by innovations linked to energy and technology transformations. The geopolitical risks

associated with sourcing many of these metals have become a repeated concern for

manufacturers and end users. Namibia is a proven and stable mining jurisdiction.

The Lofdal Project is fully permitted with a 25-year Mining License and is under a Joint Venture

agreement with Japan Organization for Metals and Energy Security (JOGMEC).

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About Japan Organization for Metals and Energy Security (JOGMEC) and the JV

JOGMEC is a Japanese government independent administrative agency which seeks to secure

stable resource supplies for Japan. JOGMEC has a strong reputation as a long term, strategic

partner in mineral projects globally. JOGMEC facilitates opportunities with Japanese private

companies to secure supplies of natural resources for the benefit of the country’s economic

development.

Rare earth elements are of critical importance to Japanese industrial interests and JOGMEC

has extensive experience with all aspects of the sector. JOGMEC provided Lynas with

USD$250,000,000 in loans and equity in 2011 to ensure supplies of the Light Rare Earths

metals suite to the Japanese industry and invested a further $134 million in 2023.

Namibia Critical Metals owns a 95% interest in the Lofdal project with the remaining 5% held

for the benefit of Historically Disadvantaged Namibians. The terms of the JOGMEC joint

venture agreement with the Company stipulate that JOGMEC provides C$3,000,000 in Term

1 and C$7,000,000 in Term 2 to earn a 40% interest in the Lofdal project. Term 3 calls for a

further C$10,000,000 of expenditures to earn an additional 10% interest. JOGMEC can also

purchase another 1% for C$5,000,000 and has first right of refusal to fully fund the project

through to commercial production and to purchase all production at market prices. The

collective interests of NCMI and historically disadvantaged Namibians cannot be diluted below

a 26% carried working interest upon payment of C$5,000,000 to JOGMEC for the dilution

protection. NMI may elect to participate up to a maximum of 44% by funding pro rata after

the earn in period is completed.

To date, JOGMEC has completed Term 2 and earned a 40% interest by reaching the C$10

million expenditure requirement. Total approved project funding to date is C$17,445,000 of

the $20,000,000 earn-in requirement to reach 50% interest.

Rainer Ellmies, PhD, MScGeol, EurGeol, AusIMM and Vice President of Namibia Critical Metals

Inc., is the Company’s Qualified Person and has reviewed and approved 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.

Namibia Critical Metals Inc. Renmark Financial Communications Inc.

Darrin Campbell, President Preston Conable: [email protected]

Tel: +01 (902) 835-8760 Tel.: (416) 644-2020 or (212) 812-7680

Email: [email protected] www.renmarkfinancial.com

Web site: www.NamibiaCriticalMetals.com

This news release contains certain “forward-looking information” within the meaning of applicable securities laws. Forward looking

information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”,

“will”, “would”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur.

The Forward-Looking Statements in this news release relate to, among other things; the estimation of Mineral Resources and Mineral Reserves and

the realization of such mineral estimates; the statements and other results of the PFS discussed in this news release, including, without limitation,

project economics, financial and operational parameters such as expected throughput, production, processing methods, cash costs, operating costs,

other costs, capital expenditures, cash flow, NPV, IRR, payback period, life of mine and REE price forecasts These statements are only predictions.

Forward-looking information is based on the opinions and estimates of management and the QP’s at the date the information is provided,

and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from

those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business

and affairs, readers should refer to the Company’s Management’s Discussion and Analysis. The Company undertakes no obligation to

update forward-looking information if circumstances or management’s estimates or opinions should change, unless required by law. The

reader is cautioned not to place undue reliance on forward-looking information.