Kavango Resources Regulatory News (KAV)

17 June 2024

Kavango Resources

("Kavango" or "the Company")

BOTS -KCB drilling commences

Kavango Resources plc (LSE: KAV), the Southern Africa focussed metals exploration company, is pleased to announce the Company has commenced drilling its first high priority targets at the Karakubis Copper Project in Botswana's Kalahari Copper Belt ("KCB").

Highlights

· Kavango has identified 15 high priority targets for its first phase of drilling.

· Drill holes have been designed to check favourable trap sites modelled from geophysical data, confirm stratigraphy, and assess the potential to host large scale copper-silver mineralisation.

· Kavango's high priority targets are all located above interpreted, doubly-plunging fold structures over gravity highs where associated faulting is thought to be favourable for trap site development.

· The Company's first phase of drilling, totalling approximately 5,000 m, will test relatively shallow targets between 150 m and 350 m below surface.

· Kavango's contract driller, Mitchell Drilling, is set up on site and prepared to begin drilling this week.

· Further priority targets are anticipated as data processing and interpretation are completed for survey results from Survey Blocks 1A and 1B.

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

"This is the most sophisticated drill campaign ever undertaken by Kavango. Over the last 2 years, we've made substantial improvements to our team and exploration methods. This has culminated in this 5,000m diamond drill programme and I would like to thank all our people for their creativity and commitment in making this happen.

Assembling the first 15 high priority drill targets has been a superb team effort and we are confident in the work we've completed. We've assembled a wide ranging and comprehensive data set over Karakubis. We've then compared the results of this with what is known about major discoveries elsewhere on the Kalahari Copper Belt. Finally, we believe we've identified the correct regional structures and trap sites for large-scale copper/silver deposits.

Our immediate objective now is to test these probable trap sites and prove that copper mineralising fluids passed through our ground. If we can achieve this it will be a transformational event for Kavango's shareholders.

I wish our team every success in the coming months and look forward to our first results later this summer."

Drill Objective

The exploration and drilling strategy at Karakubis aims to validate the interpretations made to date by establishing the stratigraphic position, verifying the presence of structural trap sites and proving the presence of a copper/silver mineralising system through identification of path finder minerals.

Further work will be undertaken based upon interpretation of the results.

For further information please contact:

Kavango Resources plc

Ben Turney

+46 7697 406 06

First Equity (Broker)

Jason Robertson

+44 207 374 2212

Kavango Competent Person Statement

The technical information contained in this announcement pertaining to geology and exploration have been read and approved by Brett Grist BSc(Hons) FAusIMM (CP). Mr Grist is a Fellow of the Australasian Institute of Mining and Metallurgy with Chartered Professional status. Mr Grist has sufficient experience that is relevant to the exploration programmes and geology of the main styles of mineralisation and deposit types under consideration to act as a Qualified Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Grist is an employee of Kavango Resources plc.