Kavango Resources Regulatory News (KAV)

PRESS RELEASE

09 June 2025

KAVANGO RESOURCES PLC

("Kavango" or "the Company")

Director Appointment & Board Changes

Board Changes

Kavango Resources plc (LSE: KAV), the Southern Africa focussed metals exploration and gold production company, wishes to announce that David Smith has indicated his intention to retire from the Board of Directors (the "Board") on 30 June 2025. David, a solicitor and previously a partner in Druces LLP, the Company's solicitors, was appointed Chairman on 11 January 2021 and brought with him considerable practical experience of corporate governance and internal controls. David has been instrumental in the development and growth of the Company.

The Company is delighted to announce the appointment of Peter Wynter Bee as Non-Executive Chairman of the Board. Peter, who is currently the Non-Executive Deputy Chairman, will assume the position when David steps down. Peter is an experienced lawyer who has focussed on financing and managing mining companies. He has raised capital for the development of mining projects since 1990. Successful projects include the development of a gold mine in Zambia, a copper mine in Zimbabwe and the Skorpion zinc mine in Namibia prior to its takeover by Anglo-American. He recently retired from Moxico Resources plc, where he was the founder and executive chairman.

Director Appointment

It is with great pleasure that the Company announces the appointment of Gautam Dalal, who will join the Company as a non-executive director, the effective date is expected to be 1 July 2025. The Company welcomes Gautam Dalal to the Board.

David Smith, Non-Executive Chairman of Kavango, commented:

"The Company has advanced and developed very considerably over the last 4 years, and I am proud to have been able to play a part in that growth. However, as we move from what, at the time of my appointment, was in effect an early-stage start-up, to a maturing business, with active mining operations in Zimbabwe alongside our continuing exploration activities in Botswana, I believe the time has come for the Company to be steered by someone with more direct operational mining experience. I am delighted that Peter Wynter Bee, who has that experience, has agreed to take on the role of chairman when I retire, and am confident that under his stewardship Kavango will go from strength to strength. I shall be excited to watch its progress and wish it nothing but success. I should however like to thank my fellow directors, and particularly our CEO Ben Turney, for their unwavering support over the last four years; working with them has been a pleasure."

Peter Wynter Bee, Deputy Non-Executive Chairman of Kavango, commented:

"David has done an excellent job in steering the company, bringing us into Zimbabwe and making us a gold producer. He should be proud of his achievements. It is now up to us to build on the foundations he has laid.

I am delighted to welcome Gautam to the Board. He and I have worked successfully together in the past building companies, and I look forward to what we will achieve at Kavango."

Ben Turney, Chief Executive Officer of Kavango, commented:

"We all would like to thank David for his support in helping Kavango grow to the position it finds itself in today. David and I joined the Board together in January 2021. Since then, we have worked hard together, experiencing the full spectrum of highs and lows associated with being a junior exploration and mining company. David leaves the company in an exceptionally stronger position than when he joined, as we move confidently towards large-scale production.

To that end, we also welcome Gautam Dalal to the Board. Gautam has been a strong supporter of Kavango, having bought 41,142,857 shares in the market and through direct investment. Gautam has had a distinguished business career and brings a wealth of corporate experience to our team. Gautam joins the company at a crucial time and we look forward to working with him."

About the new director

Gautam Dalal joins the Company as a non-executive director. Gautam is a chartered accountant with over 30 years of experience with KPMG London, where he was a partner from 1990 to 2010. From 1993 to 1997 he was responsible for the commencement of KPMG's business in India where he was based. Gautam returned to India in 2000 as Chairman and Chief Executive Officer of KPMG's Indian operations. In 2003 Gautam returned to the UK and in 2008 took over as KPMG's Head of Diversified Industrials market sector where he was involved with delivering business change in major multinational corporations. 

Gautam is currently a non-executive director of Hoptroff London Limited and was until recently a non-executive director of Moxico Resources plc and previously a director of ZincOx Resources plc. Gautam is also non-executive director of Great Ormond Street Hospital for Children NHS FT, and has held the positions of non-executive director and vice-chairman of the Bart's Health NHS Trust and a non-executive director of Camelia plc.

Gautam Dalal has an interest in 41,142,857 shares in the Company, representing 1.35% of the issued share capital of Kavango.

Further information in respect of the Company 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)

+44 207 374 2212

Jason Robertson