Security of Supply Chain, page-8

RNS Number : 6912R

Mkango Resources Limited

10 June 2024

MKANGO RESOURCES LTD.

550 Burrard Street

Suite 2900

Vancouver

BC V6C 0A3

Canada

HYPROMAG TO COLLABORATE WITH ENVIPRO, A LEADING RECYCLING AND MATERIALS

TRADING COMPANY IN JAPAN

Highlights

· HyProMag has launched a collaboration with Envipro on rare earth magnet recycling in Japan and the United Kingdom - Mkango has a 79.4% indirect interest in HyProMag, via Maginito

· Envipro was established in 1950 and is a leading recycling and materials trading company, listed on Tokyo Stock Exchange and based in Shizuoka, Japan, with 2023 sales of over US$300 million, handling scrap volumes of 625,000 tonnes, and a global footprint including the United Kingdom

· The collaboration encompasses the following:

o Joint marketing of HyProMag recycling technology solutions and recycled magnets in Japan

o Recycling trials to be carried out in UK and Japan on NdFeB scrap supplied by Envipro

o Analysis of the NdFeB scrap supply market and offtake opportunities in Japan

o Collaboration on potential HyProMag recycling technology development in Japan.

· Mkango continues to evaluate opportunities to expand its interests in rare earth magnet recycling globally through joint ventures, collaboration, marketing and offtake agreements.

London / Vancouver: June 10, 2024 - Mkango Resources Ltd. (AIM/TSX-V: MKA) (the "Company" or "Mkango") is pleased to announce that pursuant to a non-binding Memorandum of Understanding ("MoU"), HyProMag Limited ("HyProMag") has launched a collaboration with Envipro Holdings Inc. ("Envipro") on rare earth magnet recycling in Japan and the United Kingdom (the "Collaboration").

Mkango Resources Ltd - HYPROMAG TO COLLABORATE WITH ENVIPRO - Vox Markets