Namib Minerals Names New CEO

NEW YORK, March 18, 2026 (GLOBE NEWSWIRE) — Namib Minerals (“Namib” or the “Company”) (Nasdaq: NAMM) today announced a leadership transition as part of its strategic growth plan. The Company’s Board of Directors has appointed Tulani Sikwila as Chief Executive Officer, effective 18 March 2026, succeeding Ibrahima Sory Tall who is leaving Namib to pursue other opportunities. Mr. Sikwila previously served as Namib’s Chief Financial Officer. The Company has initiated a search for an Interim CFO to ensure continuity in financial leadership during this transition.

Leadership Transition

Mr. Sikwila brings more than 20 years of experience in financial operations and leadership. Having been with Namib Minerals, Greenstone, and its predecessor companies for close to two decades, he possesses an unparalleled understanding of the Company’s history, assets, and strategic priorities. His deep institutional knowledge, regional networks, and proven track record have been integral to Namib’s success to date and will be invaluable as he leads the Company into its next phase of growth. Mr. Sikwila is a Chartered Accountant of England and Wales and holds an Executive Master of Science in Finance from HEC Paris. He previously worked as a financial auditor at Ernst & Young in Zimbabwe.

Molly P. Zhang, Chair of the Board, commented on the leadership transition: “On behalf of the Board, I would like to thank Mr. Tall for his leadership and dedication to Namib Minerals during a pivotal period in the Company’s history, including guiding the organization to the important milestone of becoming the first Black African-founded and -led mining company to be listed on a New York stock exchange in mid-2025. We congratulate Mr. Sikwila on assuming the role of Chief Executive Officer at a critical time for the Company. With more than two decades of leadership experience spanning operations and finance, together with his deep understanding of the business and the region, Tulani is well positioned to lead Namib through its next phase of transformation. His financial expertise and strong knowledge of the Company will be instrumental as we accelerate our growth strategy and advance Namib’s trajectory toward becoming an African investment platform focused on strategic resource opportunities through capital efficiency and scalable organic growth.”

“I look forward to guiding our growing team at this pivotal moment for the Company,” commented incoming CEO Tulani Sikwila. “I am deeply appreciative of the Board’s confidence and of Ibrahima’s leadership over the past years. As we expand operations Namib Minerals is well-positioned to responsibly unlock Africa’s resource potential while delivering lasting value to our investors, communities and other stakeholders.”

Expanding the Senior Leadership Team

In addition, Namib Minerals is pleased to welcome Antonio Nieto as Vice President, Technical Services. His appointment marks a significant step in strengthening the Company’s operational and technical capabilities, as it advances its flagship How Mine – a proven asset that produced 33,600 ounces of gold in 2024 – along with two additional brownfield growth projects in Zimbabwe. A search process for a Chief Operating Officer is currently underway.

With more than 25 years of global mining leadership, Antonio Nieto is an internationally recognized expert in mining technology, innovation, and sustainability. He has held senior roles at FLSmidth, Gold Fields, Industrias Peñoles, and Mining3, and he authored The 5S Innovation Model for the Minerals Industry. Mr. Nieto has served as Adjunct Professor of Mining Engineering at the University of Utah and held several prestigious academic appointments, including as Chair of the Minerals Resources and Reserves program at the University of the Witwatersrand, mentoring the next generation of mining engineers and integrating cutting-edge technologies, such as AI and blockchain, into the mining value chain. He holds a Ph.D. in Earth Systems and Mining Engineering and a Master of Science in Mining and Minerals Engineering from the Colorado School of Mines, a Master of Science in Geostatistics from Mines Paris – PSL, and a Bachelor of Science in Mining and Metallurgy Engineering from Universidad de Guanajuato.

“These leadership changes position Namib Minerals for its next phase of growth,” Molly Zhang added. “Namib’s next chapter is about transforming from a single-asset producer into broader platform to capitalize on strategic resource opportunities, and this leadership configuration is purpose-built for that transformation.”

About Namib Minerals

Namib Minerals (NASDAQ: NAMM) is a mining and exploration company focused on developing gold and copper assets across southern Africa. With its operating How Mine and two brownfield gold restart projects in Zimbabwe, Namib combines deep regional expertise with disciplined, capital‑efficient growth. As the first Black African‑founded and -led mining company listed on a U.S. stock exchange, Namib is committed to ethical mining, community partnership, and internationally recognized ESG standards. For additional information, please visit namibminerals.com.

Forward-Looking Statements

This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical facts contained in this update are forward-looking statements. Any statements that refer to estimates or other characterizations of future events or circumstances, including any underlying assumptions, are also forward-looking statements. Forward-looking statements include, without limitation, future compliance with Nasdaq requirements. The forward-looking statements are based on our current expectations and are inherently subject to uncertainties and changes in circumstance and their potential effects and speak only as of the date of such statement. There can be no assurance that future developments will be those that have been anticipated. These forward-looking statements involve a number of risks and uncertainties. You should carefully consider the risks and uncertainties described in the filings we make with Securities and Exchange Commission. We caution you against placing undue reliance on forward-looking statements, which reflect current beliefs and are based on information currently available as of the date a forward-looking statement is made.

Contacts:

Lamiaa Maniar
VP of Communications
[email protected]

https://investors.namibminerals.com/ir-resources/contact-ir

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c84298e8-f91c-4324-9442-502b54f7d7e1


GLOBENEWSWIRE (Distribution ID 9674866)

Namib Minerals – Operational Update

NEW YORK, Dec. 15, 2025 (GLOBE NEWSWIRE) — Namib Minerals Ltd. (“Namib” or the “Company”) today provided an operational update highlighting improving stability and cost performance across its producing asset as the Company approaches financial year–end.

Over the past 30 days, operational throughput has been maintained, reflecting a period of increased consistency in plant performance and mine operations. During this period,

  • on–mine all–in sustaining costs declined by approximately 8% month–on–month to US$2,140 per ounce,
  • while company–level AISC declined by approximately 11%, supported by sustained cost control measures and improving operational discipline.

Operational focus during this phase has been directed toward stability, predictable run–rates, cash discipline, and consistent cost management. Management noted that these efforts are contributing to improved cost visibility and execution reliability.

Safety performance remained strong during the period, with no reportable lost–time injuries recorded over the three months ended November, reflecting continued emphasis on operational discipline and workforce safety.

“Our priority has been to stabilise operations and establish predictable run–rates,” said Ibrahima Tall, Chief Executive Officer. “The improvements we are seeing reflect disciplined execution and provide a foundation for further optimisation as we continue through this consistency phase.”

The Company expects to continue providing operational updates as it progresses through this phase of performance stabilisation.

Forward–Looking Statements
This update includes forward–looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical facts contained in this update are forward–looking statements. Any statements that refer to estimates, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are also forward–looking statements. We caution you against placing undue reliance on forward–looking statements. 

About Namib Minerals
Namib Minerals (NASDAQ: NAMM) is a Gold producer, developer and explorer with operations focused in Zimbabwe. Namib Minerals is a significant player in Africa’s mining industry, driving sustainable growth and innovation across the sector. Currently Namib Minerals operates the How Mine, an underground Gold mine in Zimbabwe, and aims to restart two assets in Zimbabwe, with additional exploration assets in the DRC.
For additional information, please visit namibminerals.com

Contacts:

Investor Relations:
[email protected]  

Lamiaa Maniar
VP of Communications
[email protected]

No Offer or Solicitation
This press release shall not constitute an offer to sell or exchange, the solicitation of an offer to buy or a recommendation to purchase any securities, or a solicitation of any vote, consent or approval, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in which such offer, solicitation or sale may be unlawful under the laws of such jurisdiction.


GLOBENEWSWIRE (Distribution ID 9602204)

Namib Minerals Provides Business Update

How Mine Expansion to 55,000 Tonnes Per Month Targeting H2 2026 Operational Date
Enabling Works Commenced at Redwing; 8–Month Dewatering Program to Begin
Company Outlines $300–400 Million Capital Plan with Non–Dilutive Funding Strategy
Management to Host Business Update Conference Call at 8:00 a.m. Eastern Time

NEW YORK, Nov. 24, 2025 (GLOBE NEWSWIRE) — Namib Minerals (“Namib Minerals” or “the Company”), (Nasdaq: NAMM), an established African gold producer with a portfolio of mining and exploration assets in Zimbabwe today provided a business update on its strategic growth initiatives.

“As a publicly traded company, we are committed to transparent communication as we advance our growth strategy,” said Ibrahima Sory Tall, Chief Executive Officer of Namib Minerals. “We are focused on building Namib Minerals into a multi–asset, mid–tier producer through operational optimization at How Mine and the disciplined restart of our Mazowe and Redwing mines. Our engagement of WSP for comprehensive feasibility studies, combined with the commencement of enabling works at Redwing and capacity expansion initiatives at How Mine, demonstrates tangible progress toward our vision. We look forward to updating the investment community on our strategic roadmap and near–term milestones.”

Strategic Growth Update
Since listing on the Nasdaq Stock Exchange in June 2025, Namib Minerals has executed on its strategy to transform from a single–mine operator into a multi–asset gold producer. The Company is advancing a three–pillar growth strategy: operational excellence at How Mine, strategic restarts of Mazowe and Redwing mines, and portfolio diversification through critical minerals exploration.

How Mine Capacity Expansion
As part of its commitment to operational improvement at How Mine, the Company is advancing plans to expand ore milling capacity from 40,500 tonnes per month in 2024 to 55,000 tonnes per month, representing an approximately 36% increase in throughput capacity. The Company is currently working on the procurement of the required equipment and expects this expansion to be operational during the second half of 2026. This capacity expansion will enable the Company to process higher ore volumes and offset the reduction in grade experienced to date in 2025.

Restart Enabling Works
At Redwing, the Company has commenced enabling works. Dewatering is scheduled to commence during the feasibility study phase and is expected to take approximately eight months to reach the targeted mining levels. Dewatering is a critical first step in the restart sequence, allowing the Company to assess underground conditions, refurbish infrastructure, and prepare for a phased production ramp–up. Concurrently, surface–infrastructure and power–supply upgrades will be planned to align with the restart timeline.

At Mazowe, the Company is advancing surface infrastructure work, including power, water, and tailings management systems, alongside detailed engineering studies to optimize the restart sequence and capital efficiency.

WSP Feasibility Studies
Supporting this disciplined approach, the Company has engaged WSP to conduct comprehensive feasibility studies for both Redwing and Mazowe. As announced on November 10, 2025, WSP has been appointed to execute S–K 1300 compliant feasibility studies for both mines simultaneously. Both mines are currently under care and maintenance and require completion of dewatering and resource drilling before redevelopment can commence. The program is expected to be completed over 12 to 18 months and will provide the technical foundation for reserve conversion, permitting, and financing discussions.

Long–Term Strategic Objective
The Company's vision is to build Namib Minerals into a multi–asset, mid–tier gold producer, working toward a strategic goal of ultimately producing 300,000 ounces per year. This represents a long–term corporate objective, not production guidance or a forecast, and is not based on a Preliminary Economic Assessment, Pre–Feasibility Study, or Feasibility Study. Achievement of this objective is contingent upon execution of the Company's long–term strategy, including the successful execution of restart programs and expansion of mines and other exploration and development goals. 

Preliminary Capital Requirements
The Company's preliminary estimate is that the total funding requirement for the expansion program is expected to fall within a range of $300 million to $400 million, with the majority allocated to Redwing Mine. The Company is pursuing a balanced funding mix including structured solutions that minimize dilution and prioritize project debt, strategic partnerships, and internally–generated cash flows to minimize shareholder dilution while supporting growth initiatives. The Company is in dialogue with multiple capital providers to support its growth plans. The Company’s estimated funding requirement amount is preliminary and subject to completion of feasibility studies, final engineering outcomes, market conditions, and equipment costs and other risks and uncertainties, many of which are beyond the Company's control.

Conference Call Information
Interested investors and other parties can listen to a webcast of the live conference call by logging onto the Investor Relations section of the Company's website at https://namibminerals.gcs–web.com/. An archived replay of the webcast will be available on the Company’s website shortly after the event concludes.

Participants may also access the call by dialing (877) 407–9039 for domestic callers or (201) 689–8470 for international callers.

Namib Minerals management will incorporate responses to a selection of shareholders’ frequently asked questions during the webcast. Shareholders are invited to submit questions via the investor relations email address: [email protected]. Please include the hashtag #askNamib in the subject line.

About Namib Minerals
Namib Minerals (NASDAQ: NAMM) is a gold producer, developer and explorer with operations focused in Zimbabwe. Namib Minerals is a significant player in Africa’s mining industry, driving sustainable growth and innovation across the sector. Currently Namib Minerals operates the How Mine, an underground gold mine in Zimbabwe, and aims to restart two assets in Zimbabwe. For additional information, please visit namibminerals.com.

Forward–Looking Statements

This press release includes forward–looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical facts contained in this update are forward–looking statements. Any statements that refer to estimates or other characterizations of future events or circumstances, including any underlying assumptions, are also forward–looking statements. Forward–looking statements include, without limitation, our management teams’ expectations of funding frameworks and anticipated timelines and costs of the restart of the Mazowe and Redwing Mines, and related assumptions. The forward–looking statements are based on our current expectations and are inherently subject to uncertainties and changes in circumstance and their potential effects and speak only as of the date of such statement. There can be no assurance that future developments will be those that have been anticipated. These forward–looking statements involve a number of risks and uncertainties which include, but are not limited to, (i) market risks, including the price of gold and equipment; (ii) the risk that the Company may not be able to successfully develop its assets as planned, including expanding the How mine and restarting and expanding the Redwing and Mazowe Mines; (iii) the risk that Namib Minerals will be unable to raise additional capital to execute its business plan, which may not be available on acceptable terms or at all; and (iv) political and social risks of operating in Zimbabwe and the DRC. The foregoing list is not exhaustive. You should carefully consider the foregoing factors, any other factors discussed in this press release and the other risks and uncertainties described in the filings we make with Securities and Exchange Commission (the “SEC”). We caution you against placing undue reliance on forward–looking statements, which reflect current beliefs and are based on information currently available as of the date a forward–looking statement is made.

Contacts:
Namib Minerals:
Ibrahima Sory Tall
CEO & Director
Investor Relations:
[email protected]


GLOBENEWSWIRE (Distribution ID 9591191)

Namib Minerals Schedules Business Update Call

NEW YORK, Nov. 20, 2025 (GLOBE NEWSWIRE) — Namib Minerals (“Namib Minerals” or “the Company”), (Nasdaq: NAMM), an established African gold producer with a portfolio of mining and exploration assets in Zimbabwe and the Democratic Republic of Congo, today announced that management will host a webcast and conference call to provide a business update at 8:00 AM ET on Monday, November 24, 2025.

Interested investors and other parties can listen to a webcast of the live conference call by logging onto the Investor Relations section of the Company's website at https://namibminerals.gcs–web.com/. An archived replay of the webcast will be available shortly after the event concludes.

Participants may also access the call by dialing (877) 407–9039 for domestic callers or (201) 689–8470 for international callers.

Namib Minerals management will incorporate responses to a selection of shareholders’ frequently asked questions during the webcast. Shareholders are invited to submit questions via the investor relations email address: [email protected]. Please include the hashtag #askNamib in the subject line.

About Namib Minerals

Namib Minerals (NASDAQ: NAMM) is a gold producer, developer and explorer with operations focused in Zimbabwe. Namib Minerals is a significant player in Africa’s mining industry, driving sustainable growth and innovation across the sector. Currently Namib Minerals operates the How Mine, an underground gold mine in Zimbabwe, and aims to restart two assets in Zimbabwe, with additional exploration assets in the DRC. For additional information, please visit namibminerals.com.

Contacts:
Namib Minerals:
Ibrahima Sory Tall
CEO & Director
Investor Relations:
[email protected]


GLOBENEWSWIRE (Distribution ID 9580064)

Namib Minerals – Operational Update

NEW YORK, Nov. 14, 2025 (GLOBE NEWSWIRE) — Namib Minerals (Nasdaq: NAMM) (“Namib Minerals” or the “Company”) today provided an operational update on its recent conclusion of an agreement with Bitumen World Mining (“BW”) for the treatment of sands at How Mine.

The Company is pleased to announce that it has entered into a new strategic partnership with BW Mining, a reputable mining and civil works contractor, for the retreatment of sands at How Mine in Zimbabwe. How Mine holds a surface sands resource of 213 Koz of Gold in the Inferred Resource category, as set out in the Company’s SK–1300 Report.

BW Mining has mobilized equipment on site and commenced preparatory work, to begin the initial phase of the testing of sands. Upon successful completion of testing, the Company expects to capitalize on firm gold prices, leveraging the proven competencies and operational capacity of BW Mining to efficiently extract gold from the How Mine sands.

The project is intended to increase overall EBITDA and extract additional value from existing resources, positioning the Company to deliver stronger returns to shareholders. However, such expectations are subject to the completion of the testing phase along with various assumptions, risks and uncertainties, including market conditions, many of which are beyond the Company’s control.

This partnership serves as a complementary initiative to Namib Minerals’ ongoing capital projects, which remain focused on delivering higher–return opportunities and long–term value across the portfolio.

Forward–Looking Statements
This update includes forward–looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical facts contained in this update are forward–looking statements. Any statements that refer to estimates, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are also forward–looking statements. Forward–looking statements include, without limitation, our management team’s expectations concerning the sands project partnership with BW Mining. The forward–looking statements are based on our current expectations and are inherently subject to uncertainties and changes in circumstance and their potential effects and speak only as of the date of such statement. There can be no assurance that future developments will be those that have been anticipated. These forward–looking statements involve a number of risks and uncertainties which include, but are not limited to, (i) market risks, including the price of gold; (ii) the inability to maintain the listing of Namib Minerals’ securities on Nasdaq; (iv) the inability to remediate the identified material weaknesses in the Company’s internal control over financial reporting, which, if not corrected, could adversely affect the reliability of Namib Minerals’ financial reporting. We caution you against placing undue reliance on forward–looking statements.

Contacts:

Investor Relations:
[email protected]

Lamiaa Maniar
VP of Communications
[email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f17540ab–2cc4–4fb0–b424–5ee1e6a54508


GLOBENEWSWIRE (Distribution ID 9576100)

Namib Minerals – Production and Operational Update

HARARE, Zimbabwe, Nov. 10, 2025 (GLOBE NEWSWIRE) — Namib Minerals (Nasdaq: NAMM) (“Namib Minerals” or the “Company”) today provided an operational update, including production guidance for 2025 and an overview of its mandate to WSP Global Inc. (“WSP”).

2025 Operational Guidance

The Company expects 2025 to continue as a year of grade consolidation and optimization at its flagship How Mine operation. Based on current mine plans and market conditions, the Company anticipates the following ranges:

Metric 2025 Guidance Range
Production (oz) 24,000 – 25,000
Adjusted EBITDA (US$ millions) 22 – 26
All–in Sustaining Cost (AISC US$/oz) 2,700 – 2,800

The 2025 focus at How Mine remains on stabilizing grade performance and completing throughput–capacity improvements. These improvements are expected to yield geared production and grades in the upcoming year. Furthermore, the Company continues advancing early–stage restart preparation work at Redwing Mine and Mazowe Mine.

Pathway to Resource and Production Expansion
Namib Minerals is pursuing a phased, technically driven growth plan designed to transform the Company from a single–asset producer into a multi–asset operator. The Company has in the past informed investors of its objective to recommence operations at Mazowe Mine and Redwing Mine. These restarts represent the first phase of the Company’s pathway to expansion and have commenced with the appointment of WSP. WSP has been appointed to begin feasibility studies at both mines simultaneously.

The Company appointed WSP not only for its expertise but also the firm’s understanding and familiarity with the Company’s assets. The Company’s objective is to align the future production levels of Redwing Mine and Mazowe Mine with their respective resource sizes therein increasing their production capacities.

WSP have been mandated to verify the Company’s ability to meet this strategic objective. WSP have been mandated to execute a SK–1300 compliant feasibility study on the following terms, amongst others –

Feasibility Studies — 12 to 18 Months

  • These studies will validate our exploration program to increase, convert and upgrade these resources.
  • The program is expected to be completed over 12 to 18 months and will provide the technical foundation for reserve conversion, permitting, and financing discussions.

In conjunction with the feasibility studies, the Company shall execute on phase two, namely the following strategic objectives –

Dewatering and Infrastructure Preparation

  • Dewatering at Redwing is scheduled to commence during the Feasibility–study phase and is expected to take approximately eight months to reach the targeted mining levels.
  • Concurrently, surface–infrastructure and power–supply upgrades will be planned to align with the restart timeline.

The third phase of the Company’s expansion will be to proceed with financing of its CAPEX –

CAPEX Financing

  • Upon completion of the Feasibility Studies, Namib Minerals intends to initiate the procurement process for major equipment and plant components required for the restart of the Redwing and Mazowe Mines.
  • The Company’s preliminary estimate is that the total funding requirement for the expansion program is expected to fall within a range of US $300 million to $400 million, with the majority allocated to the Redwing Mine. However, such estimate is preliminary and subject to the completion of the feasibility studies and final engineering outcomes as well as a number of assumptions, risks and uncertainties, including the timing of the completion of the feasibility studies, market conditions, and the cost of equipment and construction, many of which are beyond the Company’s control and subject to change.
  • The Company plans to pursue a balanced funding mix that may include project debt, strategic partnerships, and internally–generated cash flows to help minimize shareholder dilution.

Forward–Looking Statements
This update includes forward–looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical facts contained in this update are forward–looking statements. Any statements that refer to estimates, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are also forward–looking statements. Forward–looking statements include, without limitation, our management teams’ expectations concerning future operational and cost performance, the anticipate timeline and costs of the restart of the Mazowe and Redwing Mines, and related assumptions. The forward–looking statements are based on our current expectations and are inherently subject to uncertainties and changes in circumstance and their potential effects and speak only as of the date of such statement. There can be no assurance that future developments will be those that have been anticipated. These forward–looking statements involve a number of risks and uncertainties which include, but are not limited to, (i) market risks, including the price of gold; (ii) the inability to maintain the listing of Namib Minerals’ securities on Nasdaq; (iii) the inability to remediate the identified material weaknesses in the Company’s internal control over financial reporting, which, if not corrected, could adversely affect the reliability of Namib Minerals’ financial reporting; (iv) the risk that the Company may not be able to successfully develop its assets, including expanding the How mine, restarting and expanding the Redwing and Mazowe Mines; (v) the risk that Namib Minerals will be unable to raise additional capital to execute its business plan, which may not be available on acceptable terms or at all; and (vi) political and social risks of operating in Zimbabwe and the DRC. The foregoing list is not exhaustive. You should carefully consider the foregoing factors, any other factors discussed in this press release and the other risks and uncertainties described in the filings we make with Securities and Exchange Commission (the “SEC”). We caution you against placing undue reliance on forward–looking statements, which reflect current beliefs and are based on information currently available as of the date a forward–looking statement is made.

Non–IFRS Information
References to non–IFRS financial measures, including Adjusted EBITDA and AISC, are presented as supplementary information and should not be considered substitutes for IFRS results. Definitions and reconciliations are available in the Company’s public filings with the SEC.

Contacts:

Investor Relations:
[email protected]  

Lamiaa Maniar:
VP of Communications
[email protected]


GLOBENEWSWIRE (Distribution ID 9572442)

Namib Minerals Reaffirms and Expands Collaboration with WSP for Feasibility Studies to Advance Expansion Plans

NEW YORK, Oct. 09, 2025 (GLOBE NEWSWIRE) — Namib Minerals (“Namib Minerals” or “the Company”), (Nasdaq: NAMM), an established African Gold producer with a portfolio of mining and exploration assets in Zimbabwe and the Democratic Republic of Congo, is pleased to announce that it has re–engaged WSP, one of the world’s leading professional services firms, to conduct comprehensive feasibility studies for the Company’s Redwing and Mazowe Gold mining assets in Zimbabwe.

Namib Minerals has renewed and expanded its engagement with WSP, recognizing the firm’s in–depth knowledge of the Company’s portfolio and operational context. Leveraging its prior experience with these assets, WSP will provide strategic insights to guide Namib Minerals in achieving its expansion objectives.

This engagement builds on our strong relationship with WSP and reflects our commitment to unlocking the full potential of our mines,” said Ibrahima Sory Tall, CEO of Namib Minerals. “Their expertise and familiarity with our assets will help us accelerate our development plans and deliver long–term value to our stakeholders.”

The studies will serve as a critical step towards bringing Namib Minerals’ operations to full capacity and supporting the Company’s strategy of sustainable growth in Gold and Critical Minerals production.

About Namib Minerals
Namib Minerals (NASDAQ: NAMM) is a Gold producer, developer and explorer with operations focused in Zimbabwe. Namib Minerals is a significant player in Africa’s mining industry, driving sustainable growth and innovation across the sector. Currently Namib Minerals operates the How Mine, an underground Gold mine in Zimbabwe, and aims to restart two assets in Zimbabwe, with additional exploration assets in the DRC.

For additional information, please visit namibminerals.com.

Contacts:

Namib Minerals:
Lamiaa Maniar
VP of Communications
[email protected]

Investor Relations:
Alliance Advisors IR
[email protected]

No Offer or Solicitation
This press release shall not constitute an offer to sell or exchange, the solicitation of an offer to buy or a recommendation to purchase, any securities, or a solicitation of any vote, consent or approval, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in which such offer, solicitation or sale may be unlawful under the laws of such jurisdiction.


GLOBENEWSWIRE (Distribution ID 9543180)

Senator Ted Cruz Officiates USTDA Grant Signing with Terra Metals Inc. and Metalex Commodities for Zambia’s Kazozo Copper–Cobalt Project

WASHINGTON and LUSAKA, Zambia, Sept. 21, 2025 (GLOBE NEWSWIRE) — Terra Metals Inc. (Delaware, USA) and its joint venture partner Metalex Commodities (Texas, USA) today announced that their JV company, Lunda Resources, has secured a U.S. Trade and Development Agency (USTDA) grant to finance the feasibility study for the Kazozo Mine (formerly Kalaba Mine) and adjacent large–scale exploration licenses in Northwestern Zambia.

The signing ceremony, held at the Russell Senate Office Building, was officiated by Senator Ted Cruz on behalf of the U.S. Government, alongside USTDA Director Thomas Hardy and representatives of the Zambian Embassy in Washington, D.C.

This milestone aligns with the Trump Administration’s “Trade, not Aid” policy and the United States’ Critical Minerals Strategy, ensuring that Zambia’s copper and cobalt will not only contribute to job creation and GDP growth in both nations but also revive U.S. refineries with the much–needed supply of critical minerals for the global energy transition.

“This achievement is the result of years of endurance, resilience, and unwavering belief in the potential of Northwestern Zambia’s copper and cobalt resources,” said Mumena Mushinge, Chairman of Terra Metals Inc. “We are deeply grateful to Senior Chief Sailunga and Chief Ntambu, whose steadfast support and partnership have been instrumental in guiding Terra Metals’ journey. Today, with the support of USTDA, we are transforming vision into reality — building a project that will benefit both Zambia and the United States for generations to come.”

“Through Lunda Resources, we are combining U.S. and Zambian expertise to unlock world–class copper and cobalt resources that will power industries, create jobs, and strengthen long– term economic cooperation between our two countries,” added Ayo Sopitan, Chief Executive of Metalex Commodities.

Senator Ted Cruz underscored the importance of U.S. engagement in Africa’s mining sector, stating: “Critical minerals are the foundation of the future economy. The United States cannot afford to fall behind China in Africa. By working with partners like Zambia, we are ensuring secure supply chains, stronger alliances, and shared prosperity.”

About Terra Metals Inc.

Terra Metals Inc., a Delaware–based mining and energy development company, leads critical mineral development initiatives in Zambia through its subsidiaries and joint ventures.
Focused on copper, cobalt, and nickel assets, TMI integrates sustainable mining, energy transition, and community equity into all projects.

About Metalex Commodities

Metalex Commodities, headquartered in Texas, is a diversified commodities and energy firm with a strategic focus on critical minerals. Through Lunda Resources, Metalex is co– developing Zambia’s Kazozo copper–cobalt project in partnership with Terra Metals Inc.

Photos from the signing ceremony featuring Senator Ted Cruz, USTDA Director Thomas Hardy, and representatives of Terra Metals Inc., Metalex, and the Zambian Embassy are available for publication.

**Media Contact:**
Hailey Fase
Investor Relations
[email protected]
[email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/eecd7355–ecf8–4fc8–afe0–a0d8ecf1db82


GLOBENEWSWIRE (Distribution ID 9532648)