Kavango Resources Regulatory News (KAV)

05 August 2024

Kavango Resources

("Kavango" or "the Company")

BOTS - New Ditau Technical Report

Kavango Resources plc (LSE: KAV), the Southern Africa focussed metals exploration company, is pleased to announce the release of a new National Instrument 43-101-Technical Report (the "Technical Report") for its 100%-owned Ditau Project ("Ditau") in Botswana.

The Technical Report has been completed by internationally recognised mining advisor, SLR Consulting (Canada) Ltd ("SLR") and recommends next steps for Kavango's exploration at Ditau.

Highlights

· SLR was selected to prepare the Technical Report because of its extensive understanding of the types of deposit and targets associated with the Ditau Project.

· The Ditau Technical Report can be read on the Company's website.

· SLR concludes that Ditau is an attractive early-stage exploration project with the potential to host a variety of mineralisation styles, warranting a systematic exploration effort consisting of detailed geophysical surveying and a significant amount of drilling.

· Prospective mineralisation targets include:

· Banded Iron Formation ("BIF")-hosted orogenic gold

· Iron oxide copper-gold ("IOCG"), and

· Rare earth element ("REE")-bearing carbonatites.

· SLR has made recommendations for future work programs, which Kavango is presently evaluating.

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

"SLR's new report underlines the discovery potential within Kavango's Ditau Project in Botswana for a range of critical and precious metals.

The Ditau Project provides us with a longer-term, blue-sky exploration opportunity. This strategically complements our nearer-term exploration efforts in the Kalahari Copper Belt, where we are currently drilling testing a large copper system, and Zimbabwe, where we're drilling to discover bulk-minable gold deposits.

SLR has consolidated the large datasets Kavango has gathered at Ditau to provide clear recommendations for the direction of future exploration. We are currently considering these recommendations and will update the market when we've decided on the way forward that has the greatest impact."

Background to the Technical Report

SLR Consulting (Canada) Ltd. ("SLR") was retained by Kavango to prepare an independent Technical Report on the Ditau Project, located in Kgalagadi District, southwestern Botswana. The purpose of this Technical Report is to document the technical information available on the Project and to propose additional work. The Technical Report conforms to National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101").

Figure 1: The location of Kavango's exploration tenements in Botswana

SLRRecommendations

As exploration of the Ditau system intersected by hole DITDD004 is at an early stage, SLR recommends that Kavango maintain the existing land position by completing at least the minimum exploration expenditures required to renew the current Prospecting Licences ("PLs"). Renewal of the PLs will provide Kavango with flexibility to pursue the current target as well as untested geophysical targets elsewhere on the Property.

SLR recommends a two-phase work program. The recommended Phase I work program consists of:

1. An upgraded, re-interpretation of the regional airborne magnetic data with the input of a structural geologist followed by:

2. Combined helicopter-borne electromagnetic (EM) and very high resolution horizontal gradient enhanced magnetic surveying over targeted areas to define structures that could be critical to controlling mineralized zones, regardless of the model invoked.

3. Follow up ground magnetic surveying.

4. Deep penetrating gradient array induced polarization (IP) surveying tuned to local conditions over specific target areas as defined by the airborne magnetics would identify drill targets.

SLR further states that completion of the proposed Phase I program is expected to develop several high priority drill targets. Contingent on the Phase I program results, a Phase II program would consist of diamond drilling to test Phase I targets. The budget for the Phase II program would depend on the number and depth of higher priority areas identified in Phase I.

Kavango is presently considering these recommendations and next steps for the project.

Further information in respect of Kavango and its business interests is provided on the Company's website at www.kavangoresources.com and on Twitter at #KAV.

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 Kanago Resources plc.

References

Technical Report on the Ditau Project, Kgalagadi District, Southwestern Botswana Report for NI 43-101 by SLR (Canada) Ltd, 24 June 2024.