Exercise of Options

Suite 2900

Vancouver

BC V6C 0A3

Canada

Exercise of Options

LONDON / VANCOUVER: 17 June 2026 - Mkango Resources Ltd. (AIM/TSX-V: MKA) ("Mkango" or "Company") announces that it has issued 143,335 common shares ("Common Shares") following the exercise of options by consultants of the Company. The 143,334 options had an exercise price of C$0.06 per option, for aggregate proceeds of C$8600.04.

Application has been made for the 143,334 Common Shares, which rank pari passu with the existing Common Shares in issue, to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and dealings will occur at 8:00am UK time on or around June 22, 2026. The Common Shares issued on exercise of the options will also be listed on the TSX Venture Exchange.

Following Admission and for the purposes of the Disclosure Guidance and Transparency Rules, the Company will have 387,253,618 Common Shares in issue. Shareholders may use this figure as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the issued share capital of the Company.

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.

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