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 Khorixas gold project, located in Namibia.

The technical report, titled "NI 43-101 Technical Report, Khorixas 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).

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.

Appointment of head of investor relations

The company is also pleased to announce that, subject to TSX Venture Exchange approval, it has entered into an investor relations consulting agreement with Aideen McDermott to provide investor relations (IR) and corporate communications services to the company.

Under the agreement, Ms. McDermott will oversee the company's investor relations and corporate communications functions. The agreement has an initial term of 12 months commencing Aug. 1, 2026, under which the company will pay Ms. McDermott $5,000 per month, with an option to renew monthly, unless terminated earlier per its terms. Ms. McDermott is also eligible to receive stock options at a later date. The agreement remains subject to TSX Venture Exchange approval.

Based in Toronto, Ont., Ms. McDermott has a strong background in capital markets and investor relations, currently providing IR consulting services to junior mining companies in gold and copper exploration, as well as technology firms. Prior to that, she held roles on the equity sales desks at Beacon Securities and BMO Capital Markets.

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 Northwest 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 (g/t), 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 kilometres 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 kilometres, 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 H2 (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 (PrSciNat 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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