Opening Of Hypromag Plant In Pforzheim

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GERMAN FEDERAL MINISTRY FOR ECONOMIC AFFAIRS AND ENERGY OFFICIALLY OPENS HYPROMAG PLANT IN PFORZHEIM

London / Vancouver: April 28, 2026 - Mkango Resources Ltd. (AIM/TSX-V: MKA) ("Mkango") is pleased to announce that its subsidiary, HyProMag GmbH ("HyProMag") will today officially open its rare earth magnet recycling and manufacturing plant (the "Plant") in Pforzheim, Germany. The opening ceremony will be presided over by Stefan Rouenhoff, Parliamentary State Secretary of the Federal Ministry for Economic Affairs and Energy.

On 27 April 2026, the bilateral Germany-UK Business Government Forum took place at the Haus der Deutschen Wirtschaft in Berlin. Katherina Reiche, Federal Minister for Economic Affairs and Energy of Germany and The Right Honourable Peter Kyle MP, Secretary of State for Business and Trade for the United Kingdom signed a Joint Statement on cooperation on Critical Raw Materials.

HyProMag featured explicitly in the declaration, as a practical demonstration of both nations' commitment to diversifying supply chains, and in supporting resilient, sustainable, and responsible raw material value chains to enhance interlinkages and business collaborations. The joint declaration specifically noted HyProMag's expansion of its rare earth magnet recycling facilities to Germany and marks a major step in the de-risking of mutual supply chains, along with supporting the resilience of key industries such as automotive, as the transition to electric vehicles takes increasing effect.

The Pforzheim Plant

The Plant consists of a commercial scale rare earth sintered magnet recycling and manufacturing line, underpinned by the patented Hydrogen Processing of Magnet Scrap ("HPMS") technology, developed at the University of Birmingham ("UoB") and exclusively licensed to HyProMag.

The Plant site is fully permitted for production of up to 750 tonnes per annum of neodymium-iron-boron ("NdFeB") magnets and alloys.

Once fully commissioned, the Plant will have a minimum initial capacity of approximately 100 tonnes per annum of NdFeB increasing to up to circa 350 tonnes per annum. A further scale-up to 750 tonnes per annum is currently under evaluation, and HyProMag GmbH is targeting a phased scale-up to this production level over the next three years.

First commissioning runs of the HPMS reactor were successfully completed, with sequential commissioning of other major equipment underway, as announced on 9 April 2026: First Commissioning Runs Completed.

About Mkango Resources Ltd.

Mkango currently owns 100% of the advanced stage Songwe Hill rare earths project in Malawi and the proposed Puławy rare earths separation plant in Poland. Both the Songwe and Puławy projects have been selected as Strategic Projects under the European Union Critical Raw Materials Act. Songwe has also received Development Funding from the U.S. International Development Finance Corporation (DFC), the U.S. Government's development finance institution, securing US$4.6 million in reimbursable funding for Front End Engineering and Design. Mkango signed a Business Combination Agreement with Crown PropTech Acquisitions to list the Songwe Hill and Puławy rare earths projects on NASDAQ via a SPAC Merger under the name Mkango Rare Earths Limited.