Kavango Resources Regulatory News (KAV)

 PRESS RELEASE

7 October 2021

KAVANGO RESOURCES PLC

("Kavango" or "the Company")

KSZ Prospecting Licence Renewals

Kavango Resources plc (LSE:KAV), the exploration company targeting the discovery of world-class mineral deposits in Botswana, is pleased to announce renewal of five Prospecting Licences ("PLs") in the Company's Kalahari Suture Zone ("KSZ") Project.

The renewed PLs are:

- PL363/2018

- PL364/2018

- PL365/2018

- PL163/2012

- PL164/2012

Each PL runs for an additional two years and are due to expire on 30 September 2023.

The Company has recently completed drilling of two geological holes in PL163/2012 ("Target Area A"). Current drilling operations are ongoing in PL365/2018 ("Target Area B").

-----------------------------------------------------------------------

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 additional information please contact:

Kavango Resources plc

Ben Turney

bturney@kavangoresources.com

+46 7697 406 06

First Equity (Joint Broker)

+44 207 374 2212

Jason Robertson

SI Capital Limited (Joint Broker)

+44 1483 413500

Nick Emerson

Note to Editors:

THE KALAHARI SUTURE ZONE

Kavango's 100% subsidiary in Botswana, Kavango Minerals (Pty) Ltd, is the holder of 14 prospecting licences covering 7,573.1km2 of ground, including 12 licences over a significant portion of the 450km long KSZ magnetic anomaly in the southwest of the country along which Kavango is exploring for Copper-Nickel-PGM rich sulphide ore bodies. This large area, which is entirely covered by Cretaceous and post-Cretaceous Kalahari Sediments, has not previously been explored using modern techniques.

The area covered by Kavango's KSZ licences displays a geological setting with distinct similarities to that hosting World Class magmatic sulphide deposits such as those at Norilsk (Siberia) and Voisey's Bay (Canada).

The Norilsk mining centre is about 2,800km northeast of Moscow and accounts for 90% of Russia's nickel reserves, 55% of its copper and virtually all of its PGMs. Kavango's licenses in the KSZ display a geological setting with distinct geological similarities to the magmatic sulphide deposits at Norilsk. Magma plumbing systems are a key feature of these deposits.

KSZ DEFINITIONS

EM Super Conductors: are bodies of highly conductive minerals such as graphite, magnetite and metal sulphides, which conduct electricity very rapidly provided the mineral grains are in contact with each other.

Gabbro/gabbroic: A coarse grained, medium to dark coloured rock, formed from the intrusion of mantle derived molten magma into the earth's crust. Gabbroic rocks (or "gabbros") are formed as the molten magma crystallizes and cools.

Gabbroic sills: Relatively thin, planar, horizontal bodies of solidified gabbroic magma that intruded into layers of sedimentary rock whilst still molten.

Karoo: The Karoo System covers 1.5 million km2 of the semi-desert region of Southern Africa. Rocks in this system formed 180-310 million years ago.

Massive sulphide: When a deposit consists almost entirely of sulphides it is termed "massive". When it consists of grains or crystals of sulphide in a matrix of silicate minerals, it is termed "disseminated".

Metal/Magmatic sulphide: Deposits of sulphide mineral concentrations in mafic and ultramafic rocks, derived from immiscible sulphide liquids. To view a video of how metal/magmatic sulphides form please visit -

https://twitter.com/KavangoRes/status/1316004057895645186?s=20

Norilsk Style: copper/nickel/PGE mineralisation associated with the intrusion into the upper parts of the Earth's crust of mafic magma, which form magma chambers that sit below volcanic vents or fissures that extrude basaltic lava onto the surface (Hawaii is a possible modern equivalent). The Norilsk intrusions tend to have distinct morphologies, combining thin gabbro sills (wings) with deep keels (thought to be associated with feeder dykes) at the base.

Norilsk Model: a genetic geological model similar to that pertaining to the Norilsk/Talnakh deposits in Siberia. Traditionally, it was thought that, during emplacement, the magma incorporated sulphur rich country rock (e.g. coal measures) or evaporites into the melt, which allowed the molten magma to become sulphur saturated. The free sulphur would then combine, preferentially, with Cu/Ni/PGE metal ions to form metal sulphides, which, being heavy, tended to accumulate in traps or into the keel of the magma chamber. However, modern research suggests that the process might be more complex and may also involve changes of the chemical and physical properties of the magma during the introduction of new pulses of molten material from below. Such sudden changes may have caused rapid segregation of metal sulphides within and above the feeder dykes within the keel of the intrusion.

Sulphide mineralisation: If there is sufficient sulphur in the molten magma, it will tend to combine with metals (Cu, Zn, Ni, Co, Pb, PGEs etc.) to form metal sulphide complexes, which may coalesce to form massive sulphide deposits. If the melt is sulphide poor, the metals will be taken up into the silicate minerals that form as the magma cools and will not usually form economic deposits.