Mr. Darrin Campbell reports

NCMI APPLAUDS JOGMEC INVESTMENT INTO RARE EARTH SEPARATION AND PROVIDES UPDATE ON ACCELERATED VALUE ENGINEERING AT LOFDAL DYSPROSIUM-TERBIUM PROJECT

Namibia Critical Metals Inc. has commented on the recent announcement by its joint venture partner Japan Organization for Metals and Energy Security and Iwatani Corp. to invest in rare earth separation project Caremag. JOGMEC and Iwatani are investing up to 110 million euros into the heavy rare earth separation plant Caremag owned by Carester of France.

"JOGMEC continues to be at the forefront of investment in the rare earth sector with its strategic investments in Lynas, NCMI and now Caremag, and underscores the need to establish diversified rare earth supply chains," said Darrin Campbell, president of Namibia Critical.

The company also provides updates on progress of its intense value engineering for the prefeasibility study for the expanded Lofdal 2B-4 project. All work streams have commenced earlier in the year and show encouraging results to achieve the planned operating expenditure savings.

The key work streams are:

• Increase of feed grade to flotation: Based on positive XRT and XRF sorting tests, the company decided to alter the original flow sheet by the introduction of sorting for the lower-grade material. The resulting flow sheet is expected to increase the feed grade to flotation by 50 per cent. As higher efficiency of flotation was demonstrated in previous testwork on higher-grade feed, the resulting flotation concentrate is expected to increase significantly, further reducing opex and capital expenditures in the final hydrometallurgical circuit.
• Update of mine schedule and plan: Increase of run of mine from 2.1 million tonnes per year to 3.0 million tonnes per year with a high-grade and low-grade stream. While the high-grade material of about one Mt/y will directly undergo flotation, the low-grade material will be upgraded by XRT sorting and possibly XRF sorting.
• Additional geotechnical drilling: commenced on April 3, 2025. It is expected that the higher density of geotechnical data will allow steeper slope angles at the planned pits and, thus, decrease the stripping ratio.
• Water supply: SLR Namibia commenced with the work to identify a groundwater resource for sustainable extraction of Lofdal's water demand in February, 2025.
• Power supply: The company aims at a power supply solution by an independent power producer based on photovoltaic with battery and limited diesel generator backup. Offers received demonstrate highly competitive resulting electricity prices.

Darrin Campbell, president of Namibia Critical Metals, stated: "Exciting progress at our fully licensed Lofdal heavy rare earth project as we move towards completion of our PFS this year -- the recent events in Myanmar which have caused supply disruptions of rare earths combined with the announcement by China to restrict exports of rare earth metals and permanent magnets amplifies the need to diversify supply chains, particularly for heavy rare earths dysprosium and terbium.

"NCMI is uniquely positioned with its strategic partner, JOGMEC, to develop this advanced globally significant source of heavy rare earths."

On-site activities at Lofdal in support of the current value engineering

The Area 4 pit was extended, and over 2,100 tonnes of bulk samples were extracted from a depth of between 12 and 17 metres. The bulk samples were taken according to the four ore blocks from the footwall to the hangingwall, representing ore variability with different country rocks forming the matrix of the mineralization and enveloping the ore zone. The bulk samples are currently crushed and screened for extended XRT and XRF sorting tests at Gecko Namibia and Rados South Africa.

About the Lofdal heavy rare earth project

The Lofdal REE project is one of the few rare earth deposits in the world that contains mostly heavy rare earth elements (approximately 75-per-cent-heavy-rare-earth-oxide distribution) with dysprosium and terbium being the economically most important elements.

The heavy rare earth element mineralization comprises zones of hydrothermal alteration, predominantly albitization and carbonatization, associated with carbonatite dikes. The mineralization with the heavy rare earth phosphate mineral xenotime is structurally controlled and continues to depth with a general dip of 50 to 55 degrees south-southeast in most subdeposits.

The HREE mineralization covers a huge area of over 15 kilometres by 10 kilometres. Only a very small fraction of the known mineralized systems underwent resource drilling so far, namely Area 2B and Area 4. These two subdeposits form the basis for the current prefeasibility study Lofdal 2B-4. Therefore, the project can most likely be significantly expanded by future exploration.

The Lofdal project is fully licensed with a valid mining licence until May 10, 2046. The mining licence ML200 covers the entire prospective area of mineralized zones of the district-scale Lofdal HREE system.

About Namibia Critical Metals Inc.

Namibia Critical 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 licence and is under a joint venture agreement with Japan Organization for Metals and Energy Security.

Rainer Ellmies, PhD, MScGeol, EurGeol, AusIMM, vice-president of Namibia Critical, is the company's qualified person, and has reviewed and approved this press release.

The common shares of Namibia Critical trade on the TSX Venture Exchange under the symbol NMI and the OTCQB market under the symbol NMREF.

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