Mr. Darrin Campbell reports

NAMIBIA CRITICAL METALS PROVIDES UPDATE ON LOFDAL JOINT VENTURE TRANSACTION

Namibia Critical Metals Inc. has provided the following update regarding the previously announced transaction relating to the Lofdal heavy rare-earth project, as disclosed in the company's news release dated July 30, 2026, and Aug. 31, 2026.

The company continues to work with its joint venture partners, Japan Organization for Metals and Energy Security (JOGMEC) and Toyota Tsusho Corp., to work toward completion of the definitive shareholder arrangements required to implement the new joint venture ownership structure and issue the 50-per-cent interest to TJNREC. The company expects the shareholder and applicable regulatory consent process to continue up to another 30 days.

About Namibia Critical Metals Inc.

Namibia Critical Metals is developing the Lofdal heavy rare-earth project in Namibia, one of the few advanced heavy rare-earth projects globally and among the largest known undeveloped sources of dysprosium, terbium and yttrium. The fully permitted project is being advanced through a strategic partnership with JOGMEC and Toyota Tsusho to establish secure, diversified supply chains for critical rare-earth materials required for electric vehicles, renewable energy and advanced defence technologies.

We seek Safe Harbor.