Mr. Dave Underwood reports

ONGWE MINERALS ANNOUNCES VOLUNTARY FILING OF TECHNICAL REPORT

Ongwe Minerals Inc. has voluntarily filed a technical report prepared in accordance with National Instrument 43-101 (Standards of Disclosure for Mineral Projects) for the Omatjete gold project located in Namibia.

The technical report, titled "NI 43-101 Technical Report on the Omatjete Gold Project, Namibia," has an effective date of May 31, 2026, and a report date of June 30, 2026. The technical report was prepared for the company by The MSA Group Pty. Ltd., written by Michael J. Robertson, PrSciNat (400005/92), MAusIMM (316078).

Ongwe's chief executive officer, Dave Underwood, stated: "The Omatjete project has recently become the flagship project for the company since the regional sampling program outlined the large-scale, high-grade, gold-in-soil anomaly, now known as the Nguni target. Nguni is a totally greenfields discovery, and there are no known gold occurrences in the area, highlighting once again how underexplored the Damara belt in Namibia is. We look forward to kicking off the maiden diamond drill program at Nguni in August, 2026."

The technical report has been voluntarily filed under the company's profile on SEDAR+ and has not been filed in connection with a material change or a short-form prospectus.

About Ongwe Minerals Inc.

Ongwe Minerals 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 the promising Omatjete and Khorixas gold projects in the emerging northwestern Damara gold belt.

The Omatjete gold project is strategically located along the regional Okondeka fault zone, which also hosts the Kokoseb gold deposit (WIA Gold). Early exploration work by Ongwe has led to the discovery of: (a) 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; and (b) the Nguni gold prospect, which has a five-kilometre-long gold-in-soil footprint with values up to 1.3 grams per tonne and open to the west, north and east. The company has tied up 50 kilometres of strike length along this prospective fault zone, and regional sampling is continuing to locate further anomalous gold.

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 have indicated 18 target areas. The K17 prospect is a surface discovery of copper-gold mineralization in soil and rock chip samples approximately 12 square kilometres in area. This mineralization is believed to be intrusion related, and planning is currently under way for a geophysical program in second half 2026 to define the subsurface mineralization and develop drill targets.

Qualified person

Carl Joone, BSc (honours), is the president and co-founder of Ongwe Minerals and is a registered professional natural scientist with the South African Council for Natural Scientific Professions (No. 172695) and a qualified person for the purposes of National Instrument 43-101. Mr. Joone has reviewed and approved the scientific and technical information in this news release.

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