Mr. William Dawes reports

MKANGO UNAFFECTED BY MALAWI EXECUTIVE ORDER NO. 2 OF 2025

Mkango Resources Ltd. has acknowledged the recent executive order by Prof. Arthur Peter Mutharika, President of the Republic of Malawi, regarding the prohibition of the export of raw minerals, promoting local value addition and ensuring that the mineral resources of Malawi contribute to the economic development and prosperity of the country.

The Songwe Hill rare earth mining project will be producing a value-added processed and refined mixed rare earth carbonate product at the mine site in Malawi. As such, the prohibitions outlined in executive order No. 2 of 2025 are not applicable to Songwe as the ban only relates to minerals that have not been processed, refined or value added in Malawi.

Following the announcement of the U.S. International Development Finance Corp. project development funding agreement, Mkango is progressing preparations to initiate the front-end engineering and design.

About Mkango Resources Ltd.

Mkango is listed on the AIM (Alternative Investment Market) and the TSX Venture Exchange. 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 Ltd., which is owned 79.4 per cent by Mkango and 20.6 per cent by Cotec Holdings Corp., 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) in HyProMag GmbH, focused on short-loop rare earth magnet recycling in the United Kingdom and Germany, respectively, and a 100-per-cent interest in Mkango Rare Earths U.K. Ltd., focused on long-loop rare earth magnet recycling in the United Kingdom through a chemical route.

Maginito and Cotec are also rolling out HPMS (hydrogen processing of magnet scrap) recycling technology into the United States through the 50/50-owned HyProMag USA LLC joint venture company.

Mkango also owns the advanced-stage Songwe Hill rare earths project in Malawi and the Pulawy rare earths separation project in Poland. 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 combination agreement (BCA) with Crown PropTech Acquisitions (CPTK) to list the Songwe Hill and Pulawy rare earths projects on the Nasdaq Stock Market through a special-purpose acquisition company (SPAC) merger. Completion of the SPAC merger is subject to satisfaction of the conditions set forth in the BCA.

We seek Safe Harbor.