Orano Aumenta Participação na Mina de Cigar Lake no Canadá

SASKATOON, Saskatchewan, June 02, 2026 (GLOBE NEWSWIRE) — A Orano Canada Inc. (Orano Canada) e a Cameco Corporation (Cameco) firmaram um acordo para adquirir, em conjunto, a participação de 5% da TEPCO Resources Inc. (TEPCO) na Joint Venture Cigar Lake. A Orano tem o prazer de anunciar que, após o fechamento, esta transação irá aumentar sua participação em 2,129%, com um total de 42,582% da joint venture. A participação da Cameco também irá aumentar para 57,418%.

“Este acordo reflete a força do nosso relacionamento de longo prazo com a Cameco e o nosso compromisso compartilhado de apoiar a segurança energética com a energia nuclear confiável e de baixo carbono. A Orano continua focada no investimento e na excelência operacional em apoio aos nossos clientes em todo o mundo”, disse Xavier Saint Martin Tillet, Vice-Presidente Executivo Sênior da Unidade de Negócios de Mineração da Orano.

“Temos o prazer de aumentar a participação acionária da Orano na mina de Cigar Lake”, disse Pascal Bastien, Presidente e CEO da Orano Canada. “Este investimento é um exemplo da nossa confiança de longo prazo na província de Saskatchewan e sua importância para o crescimento futuro da Orano no ciclo global do combustível nuclear. Agradecemos ao nosso parceiro de longa data, a TEPCO, pela sua contribuição para esta operação ao longo dos anos. Juntamente com a Cameco, continuamos comprometidos com a operação segura e confiável da mina de Cigar Lake e da fábrica de McClean Lake, e o apoio aos nossos funcionários e as comunidades onde operamos.”

A aquisição está sujeita a aprovações regulatórias e condições padrão de fechamento e deve ser concluída no terceiro trimestre de 2026.

Sobre a Orano Canada

Com sede em Saskatoon, Saskatchewan, a Orano Canada Inc. é líder na produção de urânio, sendo responsável pelo processamento de 19,8 milhões de libras de concentrado de urânio produzido no Canadá em 2025. A Orano Canada atua na exploração, mineração e beneficiamento de urânio no Canadá há mais de 60 anos. A Orano Canada é a operadora da usina de urânio McClean Lake e uma das principais parceiras nas operações de Cigar Lake (atualmente 40,453% aumentando para 42,582%), McArthur River (30,2%) e Key Lake (16,7%). A joint venture McClean Lake é de propriedade da Orano Canada (77,5%) e da Denison Mines (22,5%). A Orano processa sob regime de tolling o minério da mina de Cigar Lake na usina de McClean Lake.

A empresa emprega cerca de 500 pessoas em Saskatchewan, incluindo quase 400 na operação em McClean Lake, onde mais de 44% dos funcionários se identificam como indígenas. Como produtora sustentável de urânio, a Orano Canada está comprometida com a segurança, a proteção ambiental e a contribuição para a prosperidade e o bem-estar das comunidades vizinhas.

A Orano Canada Inc. é uma subsidiária integral da Orano Mining, parte do grupo multinacional Orano. Como operadora internacional reconhecida no campo de materiais nucleares, a Orano oferece soluções para enfrentar os desafios mundiais de energia e saúde atuais e futuros. Sua experiência e domínio de tecnologias de ponta viabilizam que a Orano ofereça a seus clientes produtos e serviços de alto valor agregado durante todo o ciclo do combustível. Todos os dias, os 18.500 colaboradores do Grupo Orano mobilizam suas competências, sua dedicação inabalável com a segurança e sua busca constante pela inovação, com o compromisso de desenvolver know-how para a transformação e o controle de materiais nucleares, para o clima e para um mundo saudável e eficiente no uso de recursos, hoje e amanhã.

Visite a Orano em www.oranocanada.com ou siga-nos no LinkedIn, Facebook, Instagram e Twitter: @oranocanada

Contato com a Mídia
Carla Vipond
T: +1 (306) 343-4518
C: +1 (306) 260-9976
[email protected]


GLOBENEWSWIRE (Distribution ID 9730554)

Orano erhöht Beteiligung an der Cigar-Lake-Mine in Kanada

SASKATOON, Saskatchewan, June 02, 2026 (GLOBE NEWSWIRE) — Orano Canada Inc. (Orano Canada) und Cameco Corporation (Cameco) haben eine Vereinbarung getroffen, gemeinsam den 5-prozentigen Anteil von TEPCO Resources Inc. (TEPCO) am Joint Venture Cigar Lake zu erwerben. Orano gibt bekannt, dass sich sein Anteil am Joint Venture nach Abschluss der Transaktion um 2,129 % auf insgesamt 42,582 % erhöhen wird. Der Anteil von Cameco wird auf insgesamt 57,418 % steigen.

„Die Vereinbarung unterstreicht die enge und vertrauensvolle Zusammenarbeit zwischen Orano und Cameco. Gemeinsam leisten wir einen wichtigen Beitrag zu einer sicheren Energieversorgung auf Basis verlässlicher, CO₂-armer Kernenergie. Orano investiert weiterhin gezielt und setzt auf höchste operative Standards, um seine Kunden weltweit zuverlässig zu versorgen“, sagt Xavier Saint Martin Tillet, Senior Executive Vice President der Orano Mining Business Unit.

Pascal Bastien, President und CEO von Orano Canada, ergänzt: „Wir freuen uns, unsere Beteiligung an der Cigar-Lake-Mine auszubauen. Die Investition ist ein klares Bekenntnis zum Standort Saskatchewan und zu dessen strategischer Bedeutung für den zukünftigen Ausbau der Aktivitäten von Orano im globalen Kernbrennstoffgeschäft. Unser Dank gilt unserem langjährigen Partner TEPCO für die erfolgreiche Zusammenarbeit und seinen Beitrag zum Projekt über viele Jahre hinweg. Gemeinsam mit Cameco werden wir die Cigar-Lake-Mine und die Aufbereitungsanlage McClean Lake auch künftig sicher und zuverlässig betreiben. Gleichzeitig engagieren wir uns auch weiterhin für unsere Mitarbeiter und die Gemeinden, in denen wir tätig sind.“

Die Übernahme steht unter dem Vorbehalt behördlicher Genehmigungen sowie üblicher Abschlussbedingungen und soll im dritten Quartal 2026 abgeschlossen werden.

Über Orano Canada

Orano Canada Inc. mit Sitz in Saskatoon (Saskatchewan) zählt zu den führenden Uranproduzenten des Landes. Im Jahr 2025 wurden in den Anlagen des Unternehmens 19,8 Millionen Pfund Urankonzentrat verarbeitet. Orano Canada ist seit mehr als 60 Jahren in Kanada in den Bereichen Uranexploration, -bergbau und -aufbereitung tätig. Das Unternehmen betreibt die Uranaufbereitungsanlage McClean Lake und ist maßgeblich an den Standorten Cigar Lake (derzeit 40,453 %, künftig 42,582 %), McArthur River (30,2 %) und Key Lake (16,7 %) beteiligt. Das Joint Venture McClean Lake gehört zu 77,5 % Orano Canada und zu 22,5 % Denison Mines. Orano bereitet das Erz aus der Cigar-Lake-Mine in der Aufbereitungsanlage McClean Lake auf.

In Saskatchewan beschäftigt Orano Canada rund 500 Mitarbeiter, davon knapp 400 am Standort McClean Lake. Mehr als 44 % der Beschäftigten dort gehören nach eigenen Angaben indigenen Gemeinschaften an. Als verantwortungsvoller Uranproduzent legt Orano Canada großen Wert auf Sicherheit und Umweltschutz und leistet einen wichtigen Beitrag zum Wohlstand und Wohlergehen der benachbarten Gemeinden.

Orano Canada Inc. ist eine hundertprozentige Tochtergesellschaft von Orano Mining und Teil der internationalen Orano-Gruppe. Orano zählt weltweit zu den führenden Unternehmen im Bereich nuklearer Materialien und entwickelt Lösungen für die gegenwärtigen und zukünftigen globalen Herausforderungen in den Bereichen Energie und Gesundheit. Orano nutzt seine technologische Vorreiterrolle und Expertise, um Kunden Produkte und Services mit hohem Mehrwert entlang des gesamten Brennstoffkreislaufs anzubieten. Tag für Tag setzen die 18.500 Mitarbeiter der Orano-Gruppe ihr Können, ihr kompromissloses Engagement für Sicherheit und ihren kontinuierlichen Innovationsgeist ein, um die Verfahren zur Aufbereitung und Kontrolle von Nuklearmaterialien stetig weiterzuentwickeln – für den Klimaschutz sowie für eine gesunde, ressourceneffiziente Welt von heute und morgen.

Weitere Informationen zu Orano finden Sie unter www.oranocanada.com oder auf LinkedIn, Facebook, Instagram und Twitter: @oranocanada

Medienkontakt
Carla Vipond
Tel.: +1 (306) 343-4518
Mobil: +1 (306) 260-9976
[email protected]


GLOBENEWSWIRE (Distribution ID 9730554)

Orano renforce sa participation dans la mine de Cigar Lake au Canada

SASKATOON, Saskatchewan, 02 juin 2026 (GLOBE NEWSWIRE) — Orano Canada Inc. et Cameco Corporation, respectivement désignées ci-après comme « Orano Canada » et « Cameco » ont conclu un accord visant l’acquisition conjointe de la participation de 5 % détenue par TEPCO Resources Inc. (ou « TEPCO » dans la coentreprise de Cigar Lake. Orano se réjouit d’annoncer qu’à l’issue de cette opération, sa participation augmentera de 2,129 points pour représenter 42,582 % du capital de la coentreprise. La participation de Cameco sera également portée à 57,418 %.

« Cet accord témoigne de l’ancrage durable de notre relationnel avec Cameco, mais aussi de notre engagement commun en faveur de la sécurité énergétique obtenue grâce à une énergie nucléaire fiable et bas carbone. Chez Orano, nous poursuivons nos efforts d’investissement et en matière d’excellence opérationnelle afin d’accompagner nos clients partout dans le monde », précise Xavier Saint Martin Tillet, directeur général adjoint d’Orano en charge des activités minières.

« Nous sommes enchanter d’accentuer la participation d’Orano dans la mine de Cigar Lake », ajoute Pascal Bastien, président-directeur général d’Orano Canada. « Cet investissement illustre la confiance durable que nous portons à la province de la Saskatchewan et à son rôle stratégique dans la croissance future d’Orano au sein de la filière nucléaire mondiale. Nous remercions notre partenaire de longue date, TEPCO, pour sa contribution à cette exploitation au fil des années. Aux côtés de Cameco, nous restons pleinement engagés en faveur d’une exploitation sûre et fiable de la mine de Cigar Lake et de l’usine de traitement de McClean Lake, et continuerons à accompagner nos employés ainsi que les collectivités dans lesquelles nous exerçons nos activités. »

L’opération demeure soumise aux autorisations réglementaires requises ainsi qu’aux conditions de clôture habituelles. Elle devrait se conclure au troisième trimestre 2026.

À propos d’Orano Canada

Domiciliée à Saskatoon, dans la province de la Saskatchewan, Orano Canada Inc. se distingue parmi les principaux producteurs d’uranium du monde. En 2025, l’entreprise a assuré le traitement de 19,8 millions de livres de concentré d’uranium produit au Canada. Forte de son empreinte sur le territoire depuis plus de 60 ans, Orano Canada se spécalise dans les activités d’exploration, d’extraction et de traitement de l’uranium. Orano Canada exploite notamment l’usine de traitement d’uranium de McClean Lake et détient des participations majeures dans les exploitations de Cigar Lake (actuellement 40,453 %, ce qui sera porté à 42,582 % à l’issue de l’opération), McArthur River (30,2 %) et Key Lake (16,7 %). La coentreprise McClean Lake est détenue à 77,5 % par Orano Canada et à 22,5 % par Denison Mines. Le minerai extrait de la mine de Cigar Lake est traité à façon par Orano dans l’usine de McClean Lake.

La société emploie quelque 500 personnes dans la province de la Saskatchewan, dont près de 400 sur le site de McClean Lake, où plus de 44 % des effectifs se déclarent d’origine autochtone. En tant que producteur responsable d’uranium, Orano Canada place la sécurité, la protection de l’environnement et la contribution à la prospérité et au bien-être des communautés voisines au cœur de ses valeurs.

Orano Canada Inc. est une filiale en propriété exclusive d’Orano Mining, société elle-même intégrée au groupe international Orano. Acteur de référence dans le nucléaire, Orano développe des solutions visant à répondre aux enjeux énergétiques et sanitaires mondiaux d’aujourd’hui comme de demain. À l’appui de son expertise et de sa maîtrise de technologies de pointe, Orano propose à ses clients des produits et services à forte valeur ajoutée regroupant l’ensemble du cycle du combustible nucléaire. Chaque jour, les 18 500 collaborateurs du groupe Orano mettent leurs compétences, leur engagement permanent en faveur de la sûreté et leurs facultés d’innovation au service du développement de savoir-faire dans la transformation et la maîtrise des matières nucléaires, en vue de contribuer à la lutte contre le changement climatique et à la construction d’un monde plus sain et plus économe en ressources, aujourd’hui et demain.

Pour en savoir plus sur Orano, rendez-vous sur www.oranocanada.com ou suivez-nous sur LinkedIn, Facebook, Instagram et Twitter : @oranocanada

Contact médias
Carla Vipond
Tél. : +1 (306) 343-4518
Mob. : +1 (306) 260-9976
[email protected]


GLOBENEWSWIRE (Distribution ID 9730554)

Orano Increases Ownership in Cigar Lake Mine in Canada

SASKATOON, Saskatchewan, June 01, 2026 (GLOBE NEWSWIRE) — Orano Canada Inc. (Orano Canada) and Cameco Corporation (Cameco) have reached an agreement to jointly acquire TEPCO Resources Inc. (TEPCO) 5% ownership in the Cigar Lake Joint Venture. Orano is pleased to announce that, upon closing, this transaction will increase its share by 2.129% to a total of 42.582% of the joint venture. Cameco’s ownership will also rise to a total of 57.418%.

“This agreement reflects the strength of our long-term relationship with Cameco and our shared commitment to supporting energy security through reliable, low-carbon nuclear energy. At Orano, we remain focused on investment and operational excellence in support of our customers worldwide,” said Xavier Saint Martin Tillet, Senior Executive Vice President, Orano Mining Business Unit.

“We are pleased to increase Orano’s ownership stake in the Cigar Lake mine,” said Pascal Bastien, President and CEO, Orano Canada. “This investment reflects our long-term confidence in Saskatchewan and its importance to Orano’s future growth in the global nuclear fuel cycle. We thank our long-standing partner, TEPCO, for its contribution to this operation over many years. Together with Cameco, we remain committed to the safe and reliable operation of the Cigar Lake mine and McClean Lake mill, while continuing to support our employees and the communities where we operate.”

The acquisition is subject to regulatory approvals and standard closing conditions and should be closed in the third quarter of 2026.

About Orano Canada

Headquartered in Saskatoon, Saskatchewan, Orano Canada Inc. is a leading producer of uranium, accounting for the processing of 19.8 million pounds of uranium concentrate produced in Canada in 2025. Orano Canada has been exploring for uranium, mining and milling in Canada for more than 60 years. Orano Canada is the operator of the McClean Lake uranium mill and a major partner in the Cigar Lake (currently 40.453% increasing to 42.582%), McArthur River (30.2%) and Key Lake (16.7%) operations. The McClean Lake joint venture is owned by Orano Canada (77.5%) and Denison Mines (22.5%). Orano toll mills the ore from the Cigar Lake mine at the McClean Lake mill.

The company employs about 500 people in Saskatchewan, including nearly 400 at the McClean Lake operation where over 44% of employees are self-declared Indigenous. As a sustainable uranium producer, Orano Canada is committed to safety, environmental protection, and contributing to the prosperity and well-being of neighbouring communities.

Orano Canada Inc. is a 100% subsidiary of Orano Mining, part of the multinational Orano group. As a recognized international operator in the field of nuclear materials, Orano delivers solutions to address present and future global energy and health challenges. Its expertise and mastery of cutting-edge technologies enable Orano to offer its customers high value-added products and services throughout the entire fuel cycle. Every day, the Orano group’s 18,500 employees draw on their skills, unwavering dedication to safety and constant quest for innovation, with the commitment to develop know-how in the transformation and control of nuclear materials, for the climate and for a healthy and resource-efficient world, now and tomorrow.

Visit Orano at www.oranocanada.com or follow us on LinkedIn, Facebook, Instagram and Twitter: @oranocanada

Media Contact
Carla Vipond
T: +1 (306) 343-4518
C: +1 (306) 260-9976
[email protected]

 


GLOBENEWSWIRE (Distribution ID 9729767)

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)