Songwe Hill Rare Earth Project

Mkango's flagship rare earth project at Songwe Hill in Malawi, a carbonatite-hosted deposit enriched in neodymium, praseodymium and other rare earths. A definitive feasibility study was completed and announced in July 2022 and has been revised as part of the company's Nasdaq listing process. The Environmental, Social and Health Impact Assessment (ESHIA) was completed in accordance with IFC Performance Standards and Equator Principles and approved by the Malawi Environmental Protection Agency in January 2023, a precursor requirement to granting a mining licence under the Mine Development Agreement process. The mineral resource estimate (updated 4 February 2019; QP Dr. Scott Swinden) applies a 1.0% TREO base-case cut-off. Resources are not reserves.