Mkango Announces Closing Of Transaction To Acquire 100% Of The Songwe Hill Rare Earths Project And Maginito

Mkango Resources Ltd. (AIM/TSX-V: MKA) (the "Company" or "Mkango") is pleased to announce that it has received final approval from the TSX Venture Exchange in respect of the transaction announced on 5 August 2021 whereby Mkango has acquired (the “Acquisition”) the 49% interest of Talaxis Limited (“Talaxis”) in Lancaster Exploration Limited (“Lancaster”), which owns the Songwe Hill Rare Earths Project in Malawi, and Talaxis’ 24.5% interest in Maginito Limited (“Maginito”), which holds a 25% interest in rare earth magnet recycler HyProMag Limited (“HyProMag”), for common shares in the Company (the “Shares”) aggregating to 54,166,666 Shares (the “Acquisition Shares”). As a result of the Acquisition, Mkango owns 100% of the shares of Lancaster and 100% of the shares of Maginito.