CALGARY, AB / ACCESS Newswire / November 9, 2026 / Mkango Magnetic Materials Ltd. (AIM:MKA)(TSX-V:MKA) ("Mkango" or the "Company") announces its intention to utilise AIM's Capital Access Window in connection with a proposed fundraise ("Proposed Fundraising").

The Proposed Fundraising would supplement the Company's existing cash reserves and be applied towards capital expenditure to support the scale-up of the Company's recycling and rare earth magnet manufacturing operations as well as general working capital.

Following the updates to the AIM Rules for Companies announced in August 2026, to support the Proposed Fundraising, the Company will enter a Capital Access Window with effect from 7.30am UK time today on AIM. Trading of the common shares of the Company on the TSX Venture Exchange ("TSX-V") will be halted (the "Trading Halt") with effect from the opening of trading hours in Toronto today. The Trading Halt on the TSX-V will remain in place for the duration of the Capital Access Window on AIM.

This is a voluntary temporary pause in the trading of the Company's shares on AIM and TSX-V to enable the Company to reach a broader range of investors, and to provide pricing stability during a fundraise. If undertaken, the Company intends to include an offer to retail investors as part of the Proposed Fundraising. The Capital Access Window and Trading Halt will remain in place until a further announcement is made detailing the results of the Proposed Fundraising.

About Mkango Magnetic Materials Ltd.

Mkango is listed on the AIM and the TSX-V Stock Exchanges. Mkango's corporate strategy is to become a market leader in the production of recycled rare earth magnets, alloys and oxides, through its interest in Maginito Limited ("Maginito"), which is owned 79.4 per cent by Mkango and 20.6 per cent by CoTec Holdings Corp. ("CoTec"), and the Remloy business acquired by its wholly owned German subsidiary, to develop new sustainable sources of neodymium, praseodymium, dysprosium and terbium to supply accelerating demand from electric vehicles, wind turbines and other clean energy technologies.

Maginito holds a 100 per cent interest in HyProMag Limited, which holds a 90 per cent interest in HyProMag GmbH (100 per cent on completion of the proposed acquisition of shares of HyProMag GmbH from Carlos Burkhardt announced by the Company on 28 October 2026 (the "Acquisition")), focused on short loop rare earth magnet recycling and manufacturing in the UK and Germany, respectively, and a 100 per cent interest in Mkango Rare Earths UK Ltd ("Mkango UK"), focused on long loop rare earth magnet recycling in the UK via a chemical processing route.

HyProMag GmbH has been selected as a Strategic Project under the European Union Critical Raw Materials Act.

Maginito and CoTec are also expanding Hydrogen Processing of Magnet Scrap ("HPMS") recycling technology into the United States via the 50/50 owned HyProMag USA joint venture company.

Remloy has developed a plant in Bitterfeld, Germany, which recycles end-of-life rare earth magnets via a melting process (medium loop rare earth magnet recycling) to produce NdFeB alloy powders for the bonded and hot deformed magnet markets, complementary to HyProMag's short loop recycling process, to produce sintered magnets, and to Mkango UK's long loop recycling process, to produce mixed rare earth carbonates and oxides.

Mkango currently owns 100% of the advanced stage Songwe Hill rare earths project in Malawi and the proposed Pulawy rare earths separation plant in Poland. On grant of the large-scale mining licence the Government of Malawi may elect to take a free 10% interest in the entity holding that licence. Both the Songwe and Pulawy projects have been selected as Strategic Projects under the European Union Critical Raw Materials Act. Songwe has also received Development Funding from the U.S. International Development Finance Corporation ("DFC"), the U.S. Government's development finance institution, securing US$4.6 million in reimbursable funding for Front End Engineering and Design. Mkango Rare Earths Limited ("MKAR") has signed a Business Combination Agreement with Crown PropTech Acquisitions ("CPTK") to list the Songwe Hill and Pulawy rare earths projects on NASDAQ via a SPAC merger (the "Proposed Business Combination") under the name Mkango Rare Earths Limited.

For more information, please visit www.mkangomagneticmaterials.com

Cautionary Note Regarding Forward-Looking Statements

This news release contains "forward-looking statements" and "forward-looking information" within the meaning of applicable Canadian securities legislation and other applicable securities laws (together, "forward-looking statements"), including statements concerning a potential fundraise, the intended use of proceeds of any such fundraise, as well as a potential retail offer. There is no certainty that a fundraise may proceed and, if it does proceed, whether it will include a retail offer, whether any funds may be raised by the Company pursuant to a fundraise or retail offer and, if raised, whether such funds will be sufficient for the intended use of proceeds. Any potential fundraise and retail offer would need to be completed in accordance with applicable laws in Canada and the UK, as well as the AIM Rules for Companies and the rules of the TSX Venture Exchange. Any offering of shares will be subject to approvals by the TSX Venture Exchange.

Actual results may differ materially from those expressed or implied by forward-looking statements, and readers should not place undue reliance on them. Factors that could cause such differences include: failure to raise funds pursuant to the Proposed Fundraising; failure to apply the funds to the intended use of proceeds referred to above; failure to satisfy the conditions to completion of the Acquisition; delays in commissioning HyProMag GmbH's plant; failure to complete the Proposed Business Combination on the terms and timetable contemplated, or at all, including failure to obtain required approvals, the level of redemptions by CPTK shareholders and the consequences for Mkango's status on AIM and the TSX Venture Exchange, including under Rule 14 of the AIM Rules for Companies; the availability of financing; demand and pricing for rare earths; technical, permitting and regulatory matters; political, fiscal and other risks in Malawi, Poland, Germany, the United Kingdom and the United States; the ability to scale recycling technologies to commercial scale; the availability of scrap supplies; and cost overruns.

Forward-looking statements are made as of the date of this news release. Except as required by applicable law, Mkango assumes no obligation to update or revise them.

For further information on Mkango, please contact:

Mkango Magnetic Materials Limited
William Dawes
Chief Executive Officer
will@mkango.ca

Alexander Lemon
President
alex@mkango.ca

Canada: +1 403 444 5979
www.mkangomagneticmaterials.com
@MkangoResources

SP Angel Corporate Finance LLP
Nominated Adviser and Joint Broker
Caroline Rowe, Jen Clarke, Devik Mehta
UK: +44 20 3470 0470

Cavendish Capital Markets Limited
Joint Broker
Neil McDonald, Pearl Kellie
UK: +44 20 7330 0500

H&P Advisory Limited
Joint Broker
Andrew Chubb, Leif Powis
UK: +44 20 7907 8500

This announcement does not constitute an offer of securities in any jurisdiction. The Proposed Fundraising, if implemented, will be the subject of further announcements, which will include the material terms and conditions of the Proposed Fundraising.

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any equity or other securities of Mkango in the United States. The securities of Mkango will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act.

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SOURCE: Mkango Magnetic Materials Limited