The TSX Venture Exchange has accepted for filing documentation with respect to four arm's-length agreements between Belmont Mineral Exploration Pty. Ltd. (Subco), a subsidiary of Ongwe Minerals Inc., and arm's-length vendors. Pursuant to the agreements, Subco has acquired a 90-per-cent interest in a licence area, comprising 36,000 hectares, adjacent to the company's Omatjete gold project, located in Namibia.

As consideration for the licence area, the company: (i) has paid $50,000 in cash; and (ii) will issue 175,000 common shares to the vendors.

Additionally, certain milestone payments for an aggregate sum of $4-million are payable to the vendors in the event that significant mineral resources are established in the licence area. These milestone payments may be paid in cash or common shares (subject to a maximum issuance of 3,125,000 shares at a deemed price of $1.28 per share) at the discretion of the company.

For further details, please refer to the company's news releases dated Feb. 24, 2026, and June 9, 2026.