KAVANGO RESOURCES PLC

Regulatory Filings • Sep 13, 2022

National Storage Mechanism | Additional information

RNS Number : 1876Z

Kavango Resources PLC

13 September 2022

PRESS RELEASE

13 September 2022

KAVANGO RESOURCES PLC

("Kavango" or "the Company")

Licence Renewals and 1 New KSZ Licence Issued

Botswana focussed metals exploration company Kavango Resources plc (LSE:KAV) ("Kavango") announces the renewal of 5 Prospecting Licences ("PLs") in the Kalahari Suture Zone ("KSZ") and one PL at the Ditau Project. In addition, the Company has also been awarded one new PL in the KSZ.

Kavango's total mineral rights in Botswana now cover 14,316km2.

Ben Turney, Chief Executive Officer of Kavango Resources, commented:

"The renewal of six of our prospecting licences and the issue of one additional licence by the Department of Mines enables Kavango to plan a substantial work program across its portfolio, as well as advance discussions with potential partners.

Securing the six Kalahari Suture Zone licences is particularly important, as it confirm Kavango's strategic hold over this large-scale nickel/copper exploration project.

With its strategically significant mineral rights package, Kavango is well placed to become a major player in the Botswanan metals' exploration space. We look forward to advancing our projects and making significant discoveries over the coming years."

Details of licences issued

Kavango Minerals (Pty) Ltd

Project	Licence No.	New expiry date	New area (sq.km)	Comment
KSZ	509/2014	30/9/24	413	Renewal
KSZ	510/2014	30/9/24	499	Renewal
KSZ	155/2016	30/9/24	491	Renewal
KSZ	156/2016	30/9/24	491	Renewal
KSZ	157/2016	30/9/24	391	Renewal
KSZ	062/2022	30/9/25	73	New licence

Kanye Resources (Pty) Ltd

Project	Licence No.	New expiry date	New area (sq.km)	Comment
Ditau	010/2019	30/9/24	459	Renewal*

*In compliance with the Botswana Minerals Act, PL 010/2019 includes 50% relinquishment due on first renewal

The resulting total areas that Kavango's subsidiaries have rights to are as below:

Project	Total area (sq.km)	Comment
KSZ	8,323.1	100% owned by Kavango
KCB (1,2)	5,065.5	See footnote
Ditau (2)	927.4	See footnote
TOTAL	14,316

1) Includes 2 x licences that are the subject of 90% earn in with LVR Geoexplorers (Pty) Ltd.

2) Kavango currently owns a 50% working interest in 10 prospecting licences held in a Joint Venture vehicle (Kanye Resources) with Power Metal Resources (LSE:POW), and has agreed to acquire 100%. Terms of the acquisition are provided in the announcement dated 8 July 2022.

('KSZ': Kalahari Suture Zone; 'KCB': Kalahari Copper Belt)

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