Mkango Resources Ltd

Mkango Resources (TSX-V: MKA; AIM: MKA) is focused on the development of the Songwe Hill rare earth project in Malawi The Project advanced from an early stage in 2010 through two phases of drilling, resource definition and extensive metallurgical test work to completion of a pre-feasibility study in September 2014, updated in November 2015. It is one of only a handful of projects globally to have advanced beyond this stage and amongst the lowest capex in the sector. In November 2017, Mkango entered into an agreement with Talaxis Limited (“Talaxis”), a wholly owned subsidiary of Noble Group Limited, whereby Talaxis will fully fund a bankable feasibility study for Songwe totaling £12 million (C$20 million) for a 49% interest in the project. Talaxis will also have the option to acquire a further 26% interest in the project by arranging funding for project development. In addition, by investing a further £2 million (C$3.3 million), Talaxis may acquire a 49% interest in a new venture to be established by Mkango focused on neodymium alloy powders, magnet and other technologies, including the collaboration with Metalysis announced in September 2017. The latter is focused on advanced alloys using neodymium or praseodymium with other elements for permanent magnet manufacturing. Permanent magnets are critical materials for most electric vehicles, direct drive wind turbines and many other high growth applications. Neodymium is a key rare earth component at Songwe. In January 2018, Mkango received the first tranches totalling £6m of the Talaxis investment Mkango also holds licences for the Thambani U-Ta-Nb project and Chimimbe Ni-Co project, both in Malawi. Please contact will@mkango.ca for further information, also on twitter:@MkangoResources