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Mkango Resources Ltd.
Symbol MKA
Shares Issued 349,231,496
Close 2026-03-31 C$ 0.66
Market Cap C$ 230,492,787
Recent Sedar+ Documents

ORIGINAL: Mkango Resources Limited Announces Results Of Fundraise Of £12.5 Million

2026-04-01 02:30 ET - News Release

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED. UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, HONG KONG, THE REPUBLIC OF SOUTH AFRICA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO.

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT ITSELF CONSTITUTE A PROSPECTUS, AN OFFERING MEMORANDUM OR AN OFFER FOR SALE OR SUBSCRIPTION OF ANY SECURITIES IN THE COMPANY. THIS ANNOUNCEMENT DOES NOT CONSTITUTE OR CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION, OFFER OR ADVICE TO ANY PERSON TO SUBSCRIBE FOR, OTHERWISE ACQUIRE OR DISPOSE OF ANY SECURITIES OF THE COMPANY IN ANY JURISDICTION IN WHICH ANY SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL.

Capitalised terms not otherwise defined in the text of this Announcement have the meanings given in the Company's proposed fundraise launch announcement released on 31 March 2026, unless otherwise specified.

CALGARY, AB / ACCESS Newswire / April 1, 2026 / Mkango Resources Ltd (AIM:MKA)(TSX-V:MKA) (the "Company" or "Mkango") is pleased to announce the successful completion of the Fundraise announced yesterday. The Fundraise generated strong demand, was significantly oversubscribed and as a result was upsized from gross proceeds of £10 million (approximately C$18.4 million) to £12.5 million (approximately C$23.0 million).

A total of 37,878,788 new Common Shares in the capital of the Company have been conditionally placed with, or subscribed for by, new and existing investors at the Placing Price of 33 pence (C$0.606375) per Common Share (the "Offer Shares"). On settlement, the Fundraise will raise gross proceeds of approximately £12.5 million (approximately C$23.0 million) for the Company before expenses consisting of:

  • 30,909,154 new Common Shares pursuant to the Placing raising gross proceeds of approximately £10.2 million (approximately C$18.7 million);

  • 636,300 new Common Shares pursuant to the LIFE Offering raising gross proceeds of approximately £0.2 million (approximately C$0.4 million);

  • 3,030,303 new Common Shares pursuant to the Retail Offer, raising gross proceeds of approximately £1.0 million (approximately C$1.8 million); and

  • 3,303,031 new Common Shares pursuant to the Subscription, raising gross proceeds of approximately £1.1 million (approximately C$2.0 million).

The new Common Shares to be issued in aggregate pursuant to the Fundraise represent approximately 10.8% per cent. of the issued share capital of the Company prior to the Fundraise.

The Placing was conducted by Peel Hunt LLP ("Peel Hunt"), H&P Advisory Limited ("H&P") and Alternative Resource Capital, a trading name of Shard Capital Partners LLP ("ARC"), acting together as joint bookrunners (together the "Joint Bookrunners" or the "Banks"), while Red Cloud Securities Inc. ("Red Cloud") acted as Canadian Adviser in respect of the Placing and the LIFE Offering. JUB Capital Management LLP acted as Corporate Finance Adviser in respect of introducing investors pursuant to the Placing and the Subscription.

Applications will be made (a) for the Offer Shares to be admitted to trading on AIM and (b) for the Fundraise to be conditionally accepted by the TSX-V, subject to the Company satisfying all of the requirements of the TSX-V. It is currently expected that the Offer Shares will (a) be admitted to trading on AIM at 8.00 a.m. (London time) on 10 April 2026; and (b) commence trading on the TSX-V on 10 April 2026, subject to acceptance of the TSX-V.

It is expected that settlement of the Offer Shares will occur on 10 April 2026 on a T+5 basis in accordance with the instructions given to the Joint Bookrunners, the terms of the Subscription Agreements, the terms of the Offering Document and the terms of the Retail Offer.

The Offer Shares will, when issued, be credited as fully paid and rank pari passu in all respects with the existing issued Common Shares of the Company, including, without limitation, the right to receive all dividends and other distributions declared, made or paid after the date of issue.

The Fundraise is conditional upon, among other things, the placing agreement between the Company and the Banks becoming unconditional and not being terminated in accordance with its terms, the AIM Admission becoming effective and acceptance by the TSX-V.

The Company intends to utilise the net proceeds of the Fundraise as set out below to support its growth opportunities (a potential acquisition in Germany); for capital expenditure requirements at its UK and German operations (including the required feasibility studies on the expansion of both of those plants); and working capital.

Description of intended use of available funds

Expected expenditure

Acquisition of synergistic German magnet business

£4,330,000 (C$7,956,375)

Capital expenditure requirements of the German operations

£3,950,000 (C$7,258,125)

Capital expenditure requirements of the UK operations

£2,200,000 (C$4,042,500)

Working capital

£2,020,000 (C$3,711,750)

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 - Prospectus Exemptions ("NI 45-106"), the LIFE Offering Shares that may be sold in Canada under the LIFE Offering will be offered for sale to purchasers in British Columbia, Alberta, Saskatchewan and Ontario, pursuant to the listed issuer financing exemption under Part 5A of NI 45-106, as amended by Coordinated Blanket Order 45-935 - Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the "Listed Issuer Financing Exemption"). New Common Shares issued under the Listed Issuer Financing Exemption will not be subject to a hold period under Canadian securities legislation. New Common Shares may also be offered for sale to purchasers outside of Canada, including but not limited to "qualified institutional buyers" in the United States, pursuant to one or more exemptions from registration requirements of the United States Securities Act of 1933, as amended. The Placing Shares, the Subscription Shares and the RetailBook Offer Shares will be subject to resale (hold) restrictions in Canada for a period of four months and one day from the date of issuance of such shares. Any resale of the Placing Shares, the Subscription Shares and the RetailBook Offer Shares in Canada or to a Canadian must be made in accordance with such resale restrictions or in reliance on an available exemption therefor.

There will be an amended offering document (the "Amended Offering Document") related to the LIFE Offering in Canada that can be accessed under the Company's profile at www.sedarplus.ca and on the Company's website at www.mkango.ca. Prospective investors in Canada should read the Amended Offering Document before making an investment decision.

TSX-V Related Party Transaction

The Company's interim CFO, Tim Slater, has participated in the Retail Offer for £150,000 (equivalent to C$275,625). As such, the participation of such officer in the Retail Offer constitutes a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") and within the meaning of Policy 5.9 of the TSX-V rules.

Related party transactions require the Company to obtain a formal valuation and minority shareholder approval unless exemptions from these requirements are available under applicable Canadian securities laws. With respect to the Retail Offer, the Company is relying on the exemption from the formal valuation requirements in section 5.5(b) of MI 61-101, as the Company is listed on TSXV, and minority approval requirements in section 5.7(1)(a) of MI 61-101, as the fair market value of the securities distributed to, and the consideration received from, interested parties does not exceed 25% of the Company's market capitalisation. The Company did not file a material change report at least 21 days prior to the expected closing of the Retail Offer as participation of the insiders had not been confirmed at that time and the Company wished to close on an expedited basis for business reasons.

William Dawes, CEO, commented:

"Following strong demand from both new institutional and existing investors, we are pleased to have completed this successful, upsized fundraise. The support we have received is a clear endorsement of Mkango's strategy and the long-term opportunity across our businesses which span the whole rare earths supply chain. Importantly, this financing strengthens our balance sheet and provides us with flexibility to advance our near-term priorities, including growth initiatives in the UK, Germany and beyond. We are very conscious of the challenging market conditions, however, this result demonstrates the resilience of our business and the confidence investors continue to place in Mkango."

The person responsible for arranging release of this Announcement on behalf of the Company is Alexander Lemon.

Total Voting Rights

In accordance with the Disclosure Guidance and Transparency Rules (DTR 5.6.1R) the Company hereby notifies the market that immediately following Admission of the Offer Shares, its issued and outstanding share capital will consist of 387,110,284 shares. The Company does not hold any shares in treasury. Shareholders may use this figure as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

Unless otherwise stated, all amounts in this Announcement are based on an exchange rate of £1:C$1.8375 as set out in the Company's proposed fundraise launch Announcement released on 31 March 2026.

This Announcement contains information which, prior to its publication constituted inside information for the purposes of Article 7 of the UK Market Abuse Regulation.

Contacts:

Mkango Resources Ltd

William Dawes
Chief Executive Officer
will@mkango.ca

Alexander Lemon
President
alex@mkango.ca

Canada: +1 403 444 5979
www.mkango.ca
@MkangoResources

SP Angel Corporate Finance LLP

Nominated Adviser
Jen Clarke, Caroline Rowe, Devik Mehta
UK: +44 20 3470 0470

Peel Hunt LLP

Joint Bookrunner
Ross Allister, Emily Bhasin
Sohail Akbar, Nick Wilks, Ambika Bose
UK: +44 (020) 7418 8900

Alternative Resource Capital

Joint Bookrunner
Alex Wood, Keith Dowsing
UK: +44 (020) 4530 9160/77

H&P Advisory Limited

Joint Bookrunner
Andrew Chubb, Leif Powis, Jay Ashfield
UK: +44 20 7907 8500

RetailBook Limited

Mike Ward / James Deal
capitalmarkets@retailbook.com

Red Cloud Securities Inc.

Canadian Adviser
ecm@redcloudsecurities.com

JUB Capital Management LLP

Corporate Finance Adviser
Adam Dziubinski
+44 208 159 2558

Montfort Communications

Nick Miles, Ann-marie Wilkinson, Jack Hickman
UK: +44 (0)20 3514 0897
mkango@montfort.london

About Mkango Resources Ltd.

Mkango is listed on the AIM and the TSX-V. 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, which is owned 79.4 per cent by Mkango and 20.6 per cent by CoTec Holdings Corp ("CoTec"), and 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 and a 90 per cent direct and indirect interest (assuming conversion of Maginito's convertible loan) in HyProMag GmbH, focused on short loop rare earth magnet recycling 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 route.

Maginito and CoTec are also rolling out HPMS recycling technology into the United States via the 50/50 owned HyProMag USA LLC joint venture company.

Mkango also owns the advanced stage Songwe Hill rare earths project in Malawi ("Songwe") and the Pulawy rare earths separation project in Poland ("Pulawy"). Both the Songwe and Pulawy projects have been selected as Strategic Projects under the European Union Critical Raw Materials Act. Mkango has signed a business combination agreement ("Business Combination Agreement") with Crown PropTech Acquisitions ("CPTK") to list the Songwe Hill and Pulawy rare earths projects on NASDAQ via a SPAC Merger under the name Mkango Rare Earths Limited ("Proposed Business Combination").

For more information, please visit www.mkango.ca

IMPORTANT NOTICES

This Announcement includes statements that are, or may be deemed to be, "forward-looking statements" or "forward-looking information" (collectively, "forward-looking statements"). These forward-looking statements can be identified by the use of forward-looking terminology, including the terms "anticipate", "believes", "expects", "continue", "could", "estimate", "forecast", "intends", "may", "plan", "predicts", "projects", "should", "will" and other similar expressions. They appear in a number of places throughout this Announcement and include statements regarding the Company's and the Directors' intentions, beliefs or current expectations concerning, amongst other things, the results of the Fundraise, the issuance of the Offer Shares, the amount to be raised pursuant to the Fundraise, the Company's prospects, growth and strategy. By their nature, forward-looking statements are subject to numerous risks and uncertainties that contribute to the possibility that predictions, forecasts and projections and other forward-looking statements will not occur, or that actual results will differ from such forward-looking statements. Such risks and uncertainties include but are not limited to: satisfaction of the conditions precedent included in the Placing Agreement and no termination rights arising thereunder, satisfaction of the conditions precedent in the Subscription Agreements and Investor Questionnaires to be submitted by subscribers under the LIFE Offering, including payment of the subscription proceeds required pursuant to such agreements, stock market volatility, the risks of the ongoing war in the Middle East, the availability of (or delays in obtaining) financing to develop the recycling plants in the UK, Germany and the US, as well as Songwe Hill and the proposed separation plant in Poland, governmental action and other market effects on global demand and pricing for the metals and associated downstream products for which the Company is exploring, researching and developing, the restrictions in place whilst equipment and infrastructure is owned by the University of Birmingham, the ability to scale the HPMS and chemical recycling technologies to commercial scale, competitors having greater financial capability and effective competing technologies in the recycling and separation business of the Company and HyProMag, availability of scrap supplies for recycling activities, governmental regulation (including the impact of environmental and other regulations) on and the economics in relation to recycling and the development of the recycling and separation plants of the Company and HyProMag, future investments in the United States pursuant to the cooperation agreement between Maginito and CoTec, the outcome and timing of the completion of the feasibility studies, cost overruns, complexities in building and operating the plants, the positive results of feasibility studies on the various proposed aspects of the Company's, Maginito's and CoTec's activities, meeting conditions to DFC funding commitment for Songwe, successful completion of the transaction contemplated by the Business Combination Agreement with CPTK, general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, changes in environmental, tax and royalty legislation, competition from other industry participants, the lack of availability of qualified personnel or management, stock market volatility, and ability to access sufficient capital from internal and external sources and those risk factors identified in the Company's publicly filed disclosure documents available at www.sedarplus.ca/landingpage.

The forward-looking statements in this Announcement may also include financial outlooks and other forward-looking metrics relating to the Company. To the extent any forward-looking statements in this Announcement constitutes "future-oriented financial information" or "financial outlooks" within the meaning of applicable securities laws (collectively, "FOFI"), such information is being provided to demonstrate the Company's internal projections and the reader is cautioned that this information may not be appropriate for any other purpose and the reader should not place undue reliance on such FOFI. FOFI, as with forward-looking statements generally, are, without limitation, based on the assumptions and subject to the risks and uncertainties set out above. The Company's actual financial position and results of operations may differ materially from management's current expectations and, as a result, the Company's revenue and profitability may differ materially from the revenue and profitability profiles provided in this Announcement. Such information is presented for illustrative purposes only and may not be an indication of the Company's actual financial position or results of operations.

Any forward-looking statements that the Company makes in this Announcement speak only as of the date of such statement and (other than in accordance with their legal or regulatory obligations) neither the Company, nor the Joint Bookrunners nor SP Angel Corporate Finance LLP ("SP Angel") nor any of their respective associates, directors, officers or advisers shall be obliged to update or revise such statements, whether as a result of new information, future events or otherwise, except as required by law. Comparisons of results for current and any prior periods are not intended to express any future trends or indications of future performance, unless expressed as such, and should only be viewed as historical data.

SP Angel, which is authorised and regulated in the United Kingdom by the FCA, is acting as Nominated Adviser exclusively for the Company and no one else in connection with the contents of this Announcement and will not regard any other person (whether or not a recipient of this Announcement) as its client in relation to the contents of this Announcement nor will it be responsible to anyone other than the Company for providing the protections afforded to its clients or for providing advice in relation to the contents of this Announcement. Apart from the responsibilities and liabilities, if any, which may be imposed on SP Angel by the Financial Services and Markets Act 2000, as amended ("FSMA") or the regulatory regime established thereunder, SP Angel accepts no responsibility whatsoever, and makes no representation or warranty, express or implied, as to the contents of this Announcement including its accuracy, completeness or verification or for any other statement made or purported to be made by it, or on behalf of it, the Company or any other person, in connection with the Company and the contents of this Announcement, whether as to the past or the future. SP Angel accordingly disclaims all and any liability whatsoever, whether arising in tort, contract or otherwise (save as referred to above), which it might otherwise have in respect of the contents of this Announcement or any such statement. The responsibilities of SP Angel as the Company's Nominated Adviser under the AIM Rules for Companies and the AIM Rules for Nominated Advisers are owed solely to the London Stock Exchange and are not owed to the Company or to any director or shareholder of the Company or any other person, in respect of its decision to acquire shares in the capital of the Company in reliance on any part of this Announcement, or otherwise.

Each of the Banks are authorised and regulated in the United Kingdom by the FCA and are acting as joint bookrunners exclusively for the Company and no one else in connection with the Fundraise and will not regard any other person (whether or not a recipient of this Announcement) as its client in relation to the Fundraise or the contents of this Announcement, nor will it be responsible to anyone other than the Company for providing the protections afforded to its clients or for providing advice in relation to the contents of this Announcement. Apart from the responsibilities and liabilities, if any, which may be imposed by FSMA or the regulatory regime established thereunder, none of the Banks accept responsibility whatsoever, or make any representation or warranty, express or implied, as to the contents of this Announcement including its accuracy, completeness or verification or for any other statement made or purported to be made by it, or on behalf of it, the Company or any other person, in connection with the Company and the contents of this Announcement, whether as to the past or the future. Each of the Banks accordingly disclaims all and any liability whatsoever, whether arising in tort, contract or otherwise (save as referred to above), which it might otherwise have in respect of the contents of this Announcement or any such statement.

The information in this Announcement, which includes certain information drawn from public sources, does not purport to be comprehensive and has not been independently verified. The content of this Announcement has not been approved by an authorised person within the meaning of the FSMA. Reliance on this Announcement for the purpose of engaging in any investment activity may expose an individual to a significant risk of losing all of the property or other assets invested. The price of shares and any income expected from them may go down as well as up and investors may not get back the full amount invested upon disposal of the shares. Past performance is no guide to future performance, and persons needing advice should consult an appropriate independent financial adviser.

No offering document, prospectus, offering memorandum or admission document has been or will be prepared or submitted to be approved by any competent authority or stock exchange in any jurisdiction (including the FCA, the London Stock Exchange, the TSX-V or any Canadian securities regulatory authority) in relation to the Fundraise or Admission, except for the Offering Document and the Amended Offering Document prepared in connection with the LIFE Offering.

In connection with the Placing, the Banks may release communications to the market as to the extent to which the book is "covered". A communication that a transaction is, or that the books are, "covered" refers to the position of the order book at that time. It is not an assurance that the books will remain covered, that the transaction will take place on any terms indicated or at all, or that if the transaction does take place, the securities will be fully distributed by the Banks.

This Announcement (the "Announcement") is for information purposes only and is directed only at persons whose ordinary activities involve them acquiring, holding, managing and disposing of investments (as principal or agent) for the purposes of their business and who have professional experience in matters relating to investments and are: (a) if in a member state of the European Economic Area (the "EEA"), persons who are qualified investors ("Qualified Investors") within the meaning of Article 2(e) of Regulation (EU) 2017/1129 (the "EU Prospectus Regulation"); or (b) if in the United Kingdom, qualified investors within the meaning of paragraph 15 of schedule 1 of the Public Offers And Admissions To Trading Regulations 2024 (the "POATR"), who are also: (i) persons who fall within the definition of "investment professionals" in article 19(5) of The Financial Services And Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order"); (ii) persons who fall within Article 49(2)(a) to (d) of the Order; or (iii) persons to whom they may otherwise be lawfully communicated (all such persons together being referred to as "Relevant Persons").

This Announcement must not be acted on or relied on (i) in any member state of the EEA, by persons who are not Qualified Investors; or (ii) in the United Kingdom, by persons who are not Relevant Persons. Any investment or investment activity to which this Announcement relates is only available to (i) in any member state of the EEA, Qualified Investors; and (ii) in the United Kingdom, Relevant Persons, and will only be engaged in with such persons.

Persons distributing this Announcement must satisfy themselves that it is lawful to do so. Persons (including, without limitation, nominees and trustees) who have a contractual or other legal obligation to forward a copy of this Announcement should seek appropriate advice before taking any such action. persons into whose possession this Announcement comes are required to inform themselves about, and to observe, any such restrictions.

This Announcement and the information contained herein is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into the United States, Australia, Hong Kong, the Republic of South Africa, Japan or any other jurisdiction in which such release, publication or distribution would be unlawful.

This Announcement has been issued by and is the sole responsibility of the Company. This Announcement does not itself constitute or form part of an offer for sale or subscription of any securities in the Company in any jurisdiction including, without limitation, the United States or any other Restricted Territory. There will be no public offer of the Placing Shares in the United Kingdom, the United States, Canada any other Restricted Territory or elsewhere.

The Offer Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "USSecurities Act"), or under the securities laws of, or with any securities regulatory authority of, any state or other jurisdiction of the United States, and may not be offered, sold, pledged, taken up, exercised, resold, transferred or delivered, directly or indirectly, within, into or in the United States absent registration under the US Securities Act or pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the US Securities Act and in compliance with any applicable securities laws of any state or other jurisdiction of the United States. The Placing is being made (a) outside the United States in "offshore transactions" as defined in, and pursuant to, Regulation S under the US Securities Act; and (b) in the United States only to persons reasonably believed to be "qualified institutional buyers" as defined in rule 144A of the US Securities Act pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the US Securities Act and applicable state securities laws.

The Offer Shares have not been qualified for distribution by prospectus in Canada and may not be offered or sold in Canada except pursuant to a Canadian prospectus or prospectus exemption. The Placing Shares, the Subscription Share and the RetailBook Offer Shares will be subject to resale (hold) restrictions for a period of four months and one day in Canada. Any resale of the Placing Shares, the Subscription Shares and the RetailBook Offer Shares in Canada or to a Canadian must be made in accordance with such resale restrictions or in reliance on an available exemption therefor. The LIFE Offering Shares will not be subject to a hold period under Canadian securities laws as they are being issued under the Listed Issuer Financing Exemption.

Purchasers of Placing Shares, Subscription Shares and RetailBook Offer Shares are, by purchasing the Placing Shares, the Subscription Shares and the RetailBook Offer Shares, deemed to represent and warrant to the Company that they are not in Canada, are purchasing the Placing Shares, the Subscription Shares and the RetailBook Offer Shares with investment intent and not with a view to distribution in Canada.

No representation or warranty, express or implied, is or will be made as to, or in relation to, and no responsibility or liability is or will be accepted by the Joint Bookrunners or by any of its affiliates or agents as to, or in relation to, the accuracy or completeness of this Announcement or any other written or oral information made available to or publicly available to any interested party or its advisers, and any liability therefore is expressly disclaimed.

No statement in this Announcement is intended to be a profit forecast or estimate, and no statement in this Announcement should be interpreted to mean that earnings per share of the Company for the current or future financial years would necessarily match or exceed the historical published earnings per share of the Company.

Neither the content of the Company's website nor any website accessible by hyperlinks on the Company's website is incorporated in, or forms part of, this Announcement.

This Announcement has been prepared for the purposes of complying with applicable law and regulation in the United Kingdom and the information disclosed may not be the same as that which would have been disclosed if this Announcement had been prepared in accordance with the laws and regulations of any jurisdiction outside the United Kingdom.

The TSX Venture Exchange has neither approved nor disapproved the contents of this Announcement. 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.

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

1.

Details of the person discharging managerial responsibilities/person closely associated

a)

Name:

Tim Slater

2.

Reason for the notification

a)

Position/status:

Interim CFO

b)

Initial notification/Amendment:

Initial notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name:

Mkango Resources Ltd

b)

LEI:

213800RPILRWRUYNTS85

4.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument:

Identification code:

Common shares without par value

CA60686A4090

b)

Nature of the transaction:

Purchase of shares

c)

Price(s) and volume(s):

Price(s)

Volume(s)

33p

454,545

d)

Aggregated information:

Aggregated volume:

Price:

Single transaction as in 4 c) above

e)

Date of the transaction:

31 March 2026

f)

Place of the transaction:

AIM

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

SOURCE: Mkango Resources Ltd.



View the original press release on ACCESS Newswire

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