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Namibia Critical Metals Successfully Completes Hydromet Pilot Plant Test Work for the Lofdal Heavy Rare Earth Deposit; JOGMEC Increases Budget

Metallurgy & Processing

Press Release

Namibia Critical Metals Successfully Completes Hydromet Pilot

Plant Test Work for the Lofdal Heavy Rare Earth Deposit;

JOGMEC Increases Budget

Halifax, Nova Scotia January 22, 2025 – Namibia Critical Metals Inc. (“Namibia Critical

Metals” or the “Company” or “NCMI”) (TSXV: NMI OTCQB: NMREF) is pleased to anno unce

key results of the hydrometallurgical scale-up and mini pilot plant test work leading to the

production of a high purity rare earth element (REE) carbonate product for its “Lofdal 2B-4”

heavy rare earth (HREE) project.

Pilot-scale test work at SGS Lakefield resulted in a simplified flow sheet. The removal of crude

REE precipitation, re-leach and thorium solvent extraction forms a significant simplification

and is leading to reduced overall reagent consumption.

The Company also announces that its joint venture partner, JOGMEC, has approved an

additional $550,000 CDN budget for JOGMEC’s fiscal year ended March 31, 2025. This brings

JOGMEC’s total expenditure commitments to $15,091,000.

Darrin Campbell, President of Namibia Critical Metals, stated:

“We are very pleased to have successfully completed the pilot -scale hydrometallurgical test

work for our PFS “Lofdal 2B -4”. SGS again demonstrated their ability to innovatively modify

the flow sheet resulting in further simplification and reduced reagent consumption . The

detailed results will now be evaluated by our engineering and financial team and will form the

basis of the PFS report expected later this year as we work to mitigate increased inflationary

costs from our November 2022 PEA.”

Hydrometallurgical Test Work

Tests were conducted using a 93 kg pilot plant flotation concentrate sample with an average

grade of 2.65% TREO produced at SGS Lakefield, using run-of-mine material from the Lofdal

Area 4 starter pit.

Bench scale hydrometallurgical tests were conducted showing recov eries of around 94%

terbium (Tb) and dysprosium (Dy) using a two-stage acid bake process at 300°C and 650°C.

The SGS pilot rotary kiln was used to scale up from static acid baking to continuous testing

in short 6-8 h commissioning campaigns and a longer 72-84 h pilot campaign.

The calcines produced in the acid bake campaigns were combined and water leached batch-

wise. The pregnant leach solution (PLS) was subsequently used in a series of bench scale and

continuous liquor treatment tests.

Test Results

The original flowsheet consisted of Impurity Removal (IR), Crude Rare Earth Carbonate

Precipitation (RP), Re -Leaching (RL) of the crude carbonate precipitate to produce a

concentrated REE liquor followed by Uranium IX and T horium SX, and final REE recovery as

calcined oxalate or carbonate.

Current test work has shown that a significantly simplified flowsheet consisting of two stage

(primary and secondary) impurity removal /neutralization, followed by U ranium IX and two

stages (primary and secondary) of REE carbonate precipitation is able to produce high grade

HREE carbonate.

Under optimum operating conditions, continuous high temperature (600°C) sulphation in the

SGS rotary kiln yielded high HREE dissolution (90-94% Tb and Dy). A composite water leach

liquor was produced containing around 1. 6 g/L REE and co -extracted impurities such as

thorium, uranium, scandium, iron and aluminium.

Batch testwork was used to show that two stages of impurity removal using magnesium

carbonate was able to remove practically all (below analytical detection limits) thorium,

scandium, iron, aluminium, and some of the uranium at minimum losses of HREE (~ 2% ).

Uranium was removed by ion exchange (UIX) using a conventional strong base anion resin

with negligible co-extraction of HREE.

The UIX barren liquor was used in a mini pilot plant where REE -carbonate was recovered in

two stages (primary and secondary) of precipitation using sodium carbonate. Overall recovery

of REE was almost quantitative and around 0.5 kg of REE carbonate precipitate was produced

containing 3.24% dysprosium, 0.44% terbium and 19.3% yttrium. Thorium impurities of the

product are <0.5 g/t Th. A detailed composition is shown below.

Standalone re-leach tests confirmed that any HREE co-precipitated in the Secondary

Neutralization (SN) stage and Secondary Rare Earth Precipitation were easily recovered

(>99.7%) using excess acidity contained in the Water Leach (WL) PLS. No additional acid is

required.

The removal of the original C rude REE Precipitation, R e-Leach (RL) and Thorium Solvent

Extraction (ThSX) unit operations forms a significant simplification and is leading to reduced

overall reagent consumption. The simplified block flow diagram of the revised flowsheet is

shown below.

La Ce Pr Nd Sm Eu Gd Tb Dy Ho Y Er Tm Yb Lu

% % % % % % % % % % % % % % %

6.16 11.1 1.10 3.76 0.98 0.39 2.05 0.44 3.24 0.66 19.3 1.97 0.25 1.43 0.19

Sc Th U Si Al Fe Mg Ca Na K Ti P Mn Cr V

g/t g/t g/t % % % % % % % % % % % %

<25 <0.5 <0.5 0.02 0.02 <0.01 0.44 0.18 0.19 0.01 <0.01 <0.01 0.14 <0.01 <0.01

3

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 has 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).

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 suppl ies 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.

H2SO4 Water MgCO3

Flotation

Concentrate

Na2CO3 Lime

Acid Bake

(AB)

(600 C)

Water Leach

(WL)

Primary

Neutralization

(PN)

Secondary

Neutralization

(SN)

Uranium IX

(UIX)

Primary REE

Precip

Secondary

REE Precip

Tailings

Neutralization

HREE

Carbonate Tailings

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$3,000,00 0 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$1 5,091,000 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.

The common shares of Namibia Critical Metals Inc. trade on the TSX Venture Exchange under

the symbol “NMI” and the OTCQB Market under the symbol “NMREF”.

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.

For more information please contact -

Namibia Critical Metals Inc.

Darrin Campbell, President

Tel: +01 (902) 835-8760

Email: [email protected] 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”, “est imate”, “may”, “will”, “would”,

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

predictions. Forward-looking information is based on the opinions and estimate s of management 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 r eliance

on forward-looking information.