Mr. William Dawes reports

MKANGO ANNOUNCES RESULTS OF ANNUAL GENERAL MEETING

At Mkango Resources Ltd.'s annual general meeting was held today, and all resolutions were duly passed.

AGM results

All business put forth at the meeting was approved by shareholders of the company, including:

• The election of Derek Linfield, William Dawes, Alexander Lemon, Philipa Varris, Susan Muir and Shaun Treacy as directors of the company;
• Appointment of MNP LLP as auditor of the company and authorizing the directors to fix its remuneration;
• Approval of the amended and restated stock option plan, amending the expiration date of options beyond 10 years;
• Approval of the extension of the expiry date of certain options granted under the stock option plan;
• Approval of the amended and restated restricted stock unit plan, increasing the number of common shares reserved for issuance under the RSU plan;
• Approval of the amended and restated EMI plan;
• Approval of a waiver of review by the TSX Venture Exchange relating to the corporation's wholly owned subsidiary Mkango Rare Earths Ltd.

About Mkango Resources Ltd.

Mkango is listed on the Alternative Investment Market 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, 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 from electric vehicles, wind turbines and other clean energy technologies.

Maginito holds a 100-per-cent interest in HyProMag Ltd. 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 U.K. through a chemical route.

Maginito and Cotec are also rolling out HPMS 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 earth project in Malawi (Songwe) and the Pulawy rare earth separation project in Poland (Pulawy). 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 with Crown PropTech Acquisitions to list the Songwe Hill and Pulawy rare earth projects on Nasdaq through a special-purpose acquisition company merger under the name Mkango Rare Earths Ltd.

We seek Safe Harbor.