Mr. Dave Underwood reports

ONGWE MINERALS DISCOVERS NEW BEDROCK ANOMALY AT ITS BELMONT PROSPECT, KHORIXAS GOLD PROJECT IN NAMIBIA

Ongwe Minerals Inc. has discovered a two-kilometre-long, strongly anomalous bedrock zone along the Khorixas fault zone at its Belmont prospect.

Ongwe Minerals has three gold flagship projects in Namibia and a dominant land position in the emerging and highly prospective northwestern Damara gold belt, comprising the following:

• The Khorixas project (154,000 hectares), which includes the Belmont prospect, an orogenic gold system with a surface footprint of 12 kilometres by six kilometres and numerous high-grade rock chips at surface;
• The Omatjete project (151,800 hectares), which contains the Manga prospect, an orogenic gold system 30 km along strike from the recently discovered Kokoseb gold deposit (WIA gold), with a surface footprint of 4.5 by one km;
• The Outjo project (46,000 hectares), which is along strike from Osino's Eureka gold discovery and occupies a geological setting similar to that of the Eureka discovery.

Dave Underwood, Ongwe's chief executive officer, commented: "The initial bedrock sampling program at Belmont has produced what we were hoping for: a coherent and extensive zone of bedrock alteration and mineralization along the Khorixas fault. We have now defined a strong walk-up drill target on a prospective basin margin structure, which will be tested in the coming months along with the other defined targets. The bedrock sampling technique essentially collects single, blind, rock chip samples on a grid of 25 by 200 m, and is designed to define the mineralizing system, not sample individual high-grade veins. The anomalous but low-grade gold values are therefore expected and welcomed. The chances of sampling individual high-grade quartz veins within the mineralized zone are very slim at this point. However, the presence of high-grade rock chip samples from outcropping quartz veins in the vicinity gives us confidence that higher grades may be present within the Plains bedrock anomaly."

Plains anomaly

A total of 3,970 m of drilling was completed across the Khorixas fault zone, comprising 639 vertical holes on a systematic grid of 25-metre hole spacing and 200-metre line spacing. Drilling typically intersected sequences of alluvial sediments, clays and calcrete before reaching bedrock, with an average hole depth of six m. Each hole was drilled approximately one metre into bedrock, which was collected as a composite sample. The sample was initially analyzed using the company's in-house detectORE system, and samples returning values greater than 20 detectable units were submitted for fire assay analysis at MSALABS in Omaruru, with assay results pending.

The Plains anomaly defines a well-constrained, two-kilometre-long and up-to-125-metre-wide zone of in situ bedrock alteration and mineralization, spatially associated with the Khorixas fault zone. Gold mineralization is typically hosted within the highly deformed hangingwall of the fault and is associated with intense iron-carbonate alteration and disseminated sulphides. The Khorixas fault zone is interpreted as a reactivated basin margin structure separating competent Archean basement rocks to the northeast from more ductile sedimentary units of the Neoproterozoic Kuiseb formation to the southwest. This contact is the key control for the Plains anomaly, with reactivation and lithological contrasts likely focusing mineralizing fluid flow.

In addition, two discrete, single-line anomalies have been identified approximately 800 m and 1,400 m to the east, respectively, coinciding with interpreted fault bifurcations and a southerly rotation of the Khorixas fault.

The Plains anomaly represents a new discovery within an area that was previously inaccessible to conventional surface sampling due to an active alluvial cover. Its delineation highlights the effectiveness of the company's bedrock sampling approach in identifying and refining high-priority drill targets.

Exploration update

The company has completed a total of 3,970 m of reverse circulation bedrock sampling along the Khorixas fault zone at the Belmont prospect. With this phase of work finished, the drill rig has been mobilized to the Omatjete gold project, where between 2,000 and 3,000 m of bedrock sampling is planned at the Manga prospect. To date, approximately 1,500 m have been completed at Manga, with assay results pending.

Following completion of bedrock sampling at Manga, the rig is expected to return to Belmont to undertake additional bedrock sampling across a series of splay targets, including BK2, BK5, BK6 and BK7.

The company remains on schedule to complete the current bedrock sampling program by the end of April, 2026. All outstanding assay results are anticipated by the end of May, 2026, with a diamond drilling program planned to commence thereafter.

Assay method

The company utilized the detectORE analytical technique, designed to enable the measurement of trace gold concentrations in geological samples using a portable X-ray fluorescence instrument. This process overcomes the traditional limitations of gold analysis by pXRF, including low gold concentrations and metal peak interference. The method involves leaching 250 grams of sieved material in a sealed pouch with 500 millilitres of GLIX-20 lixiviant and a collector device. Following a 16-hour tumble in a Maxi Mixer barrel to dissolve the gold, the CD is removed, rinsed and analyzed for 150 seconds using detectORE mode firmware. This partial analysis technique is managed through pLIMS software with strict quality assurance/quality control protocols to identify relative gold anomalism. The detectORE gold technique is designed for rapid on-site assessment and is not used for the formal quantification of gold content or the estimation of mineral resources. An extensive orientation program was carried out before putting the detectORE methodology into production by comparing soil, calcrete and rock chip sample assays with aqua regia and FireICP. The detectORE system performed extremely well and identified the same anomalies as the laboratory techniques in all conditions.

As part of the current exploration program, all bedrock samples undergo an initial in-house analysis using the detectORE technique. Any samples returning a value equal to or greater than 20 detectable units are prioritized for formal verification by fire assay at the MSALAB facility in Omaruru, Namibia, which is under way. The fire assay procedure involves drying and splitting the sample to one kilogram, followed by crushing to two millimetres. A 250-gram subsample is then pulverized to 85 per cent passing 75 microns, from which a final 50-gram aliquot is taken for fire assay with an atomic absorption finish.

Quality assurance/quality control

All Ongwe's sample assay results have been independently monitored through a quality assurance/quality control program including the insertion of blind standards, blanks and field duplicate samples. The company maintains rigorous monitoring for both in-house and laboratory analyses to ensure data reliability. For the detectORE process, which provides rapid on-site assessment of gold anomalism, a certified reference material sample is inserted every 15 samples to monitor the performance of the pXRF instrument and the leaching efficiency. For the formal fire assay verification conducted at MSALABS, a CRM is inserted every 30 samples. This laboratory procedure involves precise pulverization and a 50-gram fire assay with an atomic absorption finish to provide formal quantification for prioritized bedrock samples.

About Ongwe Minerals Inc.

Ongwe is a Canadian-listed gold exploration company focused on the discovery and advancement of new gold systems in Namibia. The Ongwe team, previously with Osino Resources (sold to Shanjin International for $368-million), has a history of making and advancing gold discoveries in Namibia, including Osino's Twin Hills (currently in construction) and Eureka deposits, and the advancement and sale of Auryx Gold's Otjikoto gold deposit (in production, sold to B2Gold for $180-million).

The company's current focus is on three promising gold projects in the emerging northwestern Damara gold belt, with a focus on the Omatjete and Khorixas gold projects.

The Omatjete gold project is strategically located along the regional Okondeka fault zone, which also hosts the Kokoseb gold deposit (WIA gold). Early surface work by Ongwe has led to the discovery of the Manga gold prospect, which has a 4.5-kilometre-by-one-kilometre footprint of gold in soil and early scout drilling indicating gold in bedrock. This area has significant growth potential, and work is continuing to define the strike extent of the Manga discovery along the Okondeka fault zone.

The Khorixas gold project is situated just 60 km west of Osino's Eureka gold project, adjacent to the northern margin of the Damara orogenic belt. Khorixas hosts two large-scale surface discoveries called Belmont and K17. The Belmont prospect has a surface gold footprint of approximately 12 by six km and lies between the regional-scale, basin margin, Khorixas fault and the Belmont thrust zone. Calcrete and grab sampling to date has indicated 18 target areas.

Qualified person

Carl Joone, BSc (honours) is the president and co-founder of Ongwe Minerals Inc. and is a registered professional natural scientist with the South African Council for Natural Scientific Professions (PrSciNat No. 172695) and a qualified person for the purposes of National Instrument 43-101. Mr. Joone has verified all the data disclosed by plotting and verifying against raw data received. He has also reviewed and approved the scientific and technical information in this news release.

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