Mr. Braam Jonker reports

COTEC HOLDINGS CORP. JOINT VENTURE, HYPROMAG USA, TO COMMENCE PREPARATORY WORK FOR PROJECT EXECUTION PHASE AT DALLAS-FORT WORTH TEXAS HUB

Cotec Holdings Corp. has noted today's press release by HyProMag USA LLC, its United State-based joint venture rare earth permanent magnet recycling and manufacturing company.

HyProMag USA announced that it has taken occupation of its approximately 125,000-square-foot Dallas-Fort Worth facility for what is expected to become HyProMag USA's first integrated rare earth magnet recycling and manufacturing hub in the United States.

The facility, located at Ironhead Commerce Center in Denton county, Texas, will serve as the central hub of HyProMag USA's domestic rare earth magnet recycling platform and support HyProMag USA's broader hub-and-spoke strategy, which includes established feedstock preprocessing operations in South Carolina and Nevada at Intelligent Lifecycle Solutions sites.

With the lease in effect, HyProMag USA will begin establishing an operational presence at the site, including installation of communications infrastructure, security systems and other foundational requirements to support project execution activities.

Julian Treger, chief executive officer of Cotec, commented: "Taking occupation of the Texas hub is transformational for HyProMag USA. With the facility now under our control, our focus is on advancing detailed engineering, securing long-lead equipment, expanding feedstock and offtake partnerships of what we believe will become a cornerstone of the domestic rare earth magnet supply chain. The facility is strategically located in the heart of the Dallas-Fort Worth innovation corridor with excellent access to transportation, logistics and critical infrastructure. We are excited to begin establishing our presence at the site and advancing the project toward construction and commissioning."

The Dallas-Fort Worth facility is expected to utilize HyProMag's patented hydrogen processing of magnet scrap technology to recover and manufacture neodymium-iron-boron rare earth magnets from end-of-life products and manufacturing scrap.

Once fully operational, the facility is expected to manufacture approximately 941 metric tonnes per annum of recycled sintered neodymium-iron-boron magnets and 611 metric tonnes per annum of associated NdFeB co-products (total payable capacity -- 1,552 metric tonnes NdFeB) over a 40-year operating life supporting growing demand from sectors, including artificial intelligence infrastructure, robotics, electric vehicles and advanced manufacturing.

The U.S. buildout is expected to create approximately 90 to 100 skilled jobs and play an important role in strengthening domestic supply chains for rare earth magnets and critical materials in the United States.

About HyProMag USA LLC

HyProMag USA is owned 50/50 by Cotec and HyProMag Ltd. HyProMag Ltd. is 100 per cent owned by Maginito Ltd., which is owned on a 79.4-per-cent/20.6-per-cent basis by Mkango Resources Ltd. and Cotec.

About Cotec Holdings Corp.

Cotec is redefining the future of resource extraction and recycling. Focused on rare earth magnets and strategic materials, Cotec integrates breakthrough technologies with strategic assets to unlock secure, sustainable and low-cost supply chains.

Cotec's mission is clear: accelerate the energy transition while strengthening strategic mineral supply chains for the countries it operates in. By investing in and deploying disruptive technologies, the company delivers capital-efficient, scalable solutions that transform marginal assets, tailings, waste streams and recycled products into high-value critical minerals.

From its HyProMag USA magnet recycling joint venture in Texas, to iron tailings reprocessing in Quebec, to next-generation copper and iron solutions backed by global majors, Cotec is building a diversified portfolio with long-term growth, rapid cash flow potential and high barriers to entry. The result is a differentiated platform at the intersection of technology, sustainability and strategic materials.

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