Hypromag Usa Appoints L Lourie To Advisory Board

HYPROMAG USA LLC.

APPOINTS LINDA LOURIE AS ADVISORY BOARD DIRECTOR

London / Vancouver: June 24, 2024 - CoTec Holdings Corp. (TSXV: CTH; OTCQB: CTHCF) ("CoTec") and Mkango Resources Ltd. (AIM/TSX-V: MKA) ("Mkango") are pleased to announce the appointment of Linda Lourie as an Advisory Board Director to HyProMag USA LLC ("HyProMag USA") effective June 24, 2024.

Julian Treger, CoTec CEO commented: "We are very pleased to welcome Linda to the Advisory Board of HyProMag USA, our Joint Venture with Mkango Resources Limited. Linda's unique experience gained as Assistant Director for Research and Technology Security in the White House Office of Science and Technology Policy and WestExec Advisors will complement the roll out of HyProMag's technology in the United States. The Joint Venture bankable Feasibility Study is making excellent progress and Linda's significant experience will provide strong direction for the Board and help to drive HyProMag USA's strategy of securing potential US Government funding and long-term commercial relationships in the US Market."

Will Dawes, Mkango CEO commented: "We see a very significant opportunity in the US market and look forward to working with Linda, CoTec and HyProMag USA as we move into the next phase of growth. HyProMag USA provides a cost effective and energy efficient solution for the liberation and short loop recycling of rare earth magnets, helping to unlock the supply chain and creating a new domestic source of rare earths for the United States."

Linda Lourie commented: "HyProMag USA is very well placed to help secure the United States a long term, secure and sustainable supply chain for rare earth magnets through the patented Hydrogen Processing of Magnet Scrap ("HPMS") technology. I look forward to joining the HyProMag USA Board and working with the team to grow the company while making US permanent magnet supply chains more resilient."

Linda Lourie is currently a Principal with WestExec Advisors, the Washington Circle Advisory Group, LLC, a Member of the U.S. Export-Import Bank's Advisory Subcommittee on Strategic Competition with the People's Republic of China (PRC), and serves as Commissioner on the Atlantic Council's Commission on Software-Defined Warfare, among other affiliations.

Linda was previously the Assistant Director for Research and Technology Security in the White House Office of Science and Technology Policy (OSTP). In this role, she served at the Assistant Secretary-level on the Committee on Foreign Investment in the United States (CFIUS), advised on foreign investments in emerging and foundational technology, export controls, CHIPS and Science Act, and led efforts on innovation and information sharing for AUKUS. Linda has also served as Department of Defense Associate General Counsel and the General Counsel of the Defense Innovation Unit (DIU).

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For more information, please visit www.cotec.ca.

CoTec Holdings Corp.

Braam Jonker

Chief Financial Officer

Canada: +1 604 992-5600