Namibia Critical Metals Identifies Multiple Targets from Airborne EM Survey Over Kunene Cobalt-Copper Project

Halifax, Nova Scotia (FSCwire) - Namibia Critical Metals Inc. (“Namibia Critical Metals” or the “Company”) (TSXV:NMI) today announced that the SkyTEM airborne geophysical survey has been completed over the Kunene Cobalt-Copper project in northern Namibia. Preliminary data has been provided and an initial evaluation of the electromagnetic (“EM”) responses shows clear conductive trends associated with favourable sedimentary horizons and structures known to be associated with cobalt-copper mineralization (Figure 1). Of particular interest are the prolific number of responses along a 20 kilometer-long segment of the interpreted extension of the Dolomite Ore Formation (“DOF”) and along a 15 kilometer-long segment of the Okanihova lineament. The DOF hosts the Opuwo cobalt-copper-zinc deposit of Celsius Resources, and historic drilling by First Quantum Minerals intersected anomalous copper and cobalt along the Okanihova lineament (Figure 2). Two more isolated targets have been identified at Okanihova East and Olulilwa Southwest.  Secondary targets are associated with contact zones along the Western Target magnetic anomaly and in sedimentary horizons parallel to the interpreted DOF extension in the northwest over a strike length of 20 kilometers.

Don Burton, President of Namibia Critical Metals, stated “The SkyTEM survey has exceeded our expectations in terms of the prolific number of targets it has identified and the detail in which it has mapped the favourable sedimentary formations and structures. This is a very preliminary assessment of an invaluable database that immediately provides us with the ability to pinpoint drill targets on the ground. We will undertake a systematic reconnaissance drilling approach, utilizing one diamond drill and one reverse circulation drill rig to test multiple targets to accelerate the opportunity for deposit discoveries. We are looking at a drill start up before the end of September. Geophysical interpretations will be refined upon delivery of final products from SkyTEM and this will include a more comprehensive study for deep conductors.”

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Figure 1 – Kunene Co-Cu Project Area showing SkyTEM airborne survey area (white dash) and preliminary EM conductor picks for 5-10 channel and > 10 channels responses. Responses for < 5 channels not shown. Channel responses are provided in picovolts/meter. Background image is total magnetic intensity from the Namibian Geological Survey database combined with satellite surface topography.

Airborne Survey Objectives and Outcomes

The Kunene project area covers over 720 km² and is characterized by widespread base metal and associated mineralization occurring in discrete sedimentary horizons such as the DOF where Co-Cu is associated with disseminations and veinlets of sulphide minerals, as well as orogenic copper, and stratabound Zn-Pb mineralization. The stratabound DOF hosts the Opuwo Co-Cu-Zn deposit which occurs on the contiguous ground held by Celsius Resources (“Celsius”) where it has been traced for over 35 kilometers. This stratigraphic package is interpreted to continue across the Kunene Project area and given the nature of the mineralization and host lithologies (black shales with graphitic members) it was decided to fly the area with EM.

The objectives of the airborne EM survey were to refine geological and structural mapping under the largely covered areas, to delineate conductive sedimentary horizons, to isolate conductive bodies that may be indicative of near surface mineral deposits, and to detect sulphide deposits and stockworks at depth. Previous work had identified three large target areas primarily associated with Co-Cu anomalies identified from regional soil sample surveys (Figure 2) which were confirmed by detailed soil sampling (Figure 3). These areas were referred to as the DOF Extension, the Western Targets and the Okanihova Targets. A primary objective of the airborne EM survey was to delineate specific targets within these regional geochemical anomalies for drilling.

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Figure 2 - Kunene Co-Cu Project Area showing principal targets associated with DOF Horizon, structural lineaments, and  cobalt anomalies (soil ICP) at regional 1 kilometer spacing. Celsius Resources’ land position to the east in cross hatching with the Opuwo Deposit area in red rectangle.

Celsius has reported that the Opuwo deposit hosts a maiden JORC compliant resource of 72.0 million tonnes at a grade of 0.11% cobalt, 0.42% copper and 0.41% zinc in the Indicated category, and a further 40.5 million tonnes at a grade of 0.12% cobalt, 0.41% copper and 0.46% zinc in the Inferred category. It is noted that the mineralization on the Celsius property may not be indicative of mineralization that may be found on the Kunene project area held by Namibia Rare Earths.

SkyTEM ApS was contracted to fly the survey at a flight line spacing of 200 meters on north-south oriented lines across the entire project area. SkyTEM utilized their most powerful time domain EM system (SkyTEM 312 HP) which provides superior resolution in the near-surface environment (0-100 vertical meters) and comparable depth penetration (300-400 vertical meters) when compared to its peers. The platform included a Geometrics total intensity magnetometer and was installed on an Astar 350 B3 helicopter operated by Savannah Helicopters. The survey was flown in cooperation with similar coverage over the Celsius ground which reduced survey costs related to mobilization and de-mobilization charges and mitigated standby charges for weather days over mountainous ground due to high winds. Total line kilometers flown on the Namibia Critical Metals ground amounted to about 4,150 kilometers.

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Figure 3 - Kunene Co-Cu Project Area showing airborne survey area (white border) and cobalt anomalies from detailed soil geochemical surveys. Background image is total magnetic intensity from the Namibian Geological Survey database combined with satellite surface topography.

The preliminary data was received on a bi-weekly basis and quality control and assurance (“QAQC”) was monitored by Robert E. Gillick and Associates Ltd. (“Gillick”) who are also providing independent interpretations of the geophysical results. The SkyTEM system operates in 2 transmission modes: a low magnetic moment transmission (“LM”) using 2 transmitter coil turns at 5 amperes, and a high magnetic moment transmission (“HM”) using 5 transmitter coil turns at 100 amperes.  The HM mode is designed to energize and map deeper conductors; the LM mode is designed for mapping weaker conductive sources nearer to the surface. The final products will include inversion model resistivity sections and plans incorporating both the HM and LM data. Gillick has provided the preliminary EM response picks for the z-component of the HM data as shown in Figure 1. The preliminary picks are qualitative at this stage and do not take into account calculated source depths or source conductivities. A more detailed quantitative interpretation will be undertaken once final products are delivered.

Preliminary Drill Targets

A more comprehensive assessment of drill targets will be undertaken once the final data is received however the preliminary assessment clearly provides immediate targets along the DOF Extension, in the southwest extension of the Okanihova lineament, at Okanihova East and at Olulilwa Southwest.  Immediate focus will be given to these targets and access tracks are in preparation. This first phase of drilling will likely comprise 4,000 m of the available 7,500 m budget and should be started before the end of September. Details of the drill program and scheduling will be provided following further interpretations and awarding of the drill contract.

Evaluation of Vanadium Anomaly with Coincident EM

Soil sample analyses show anomalous concentrations of vanadium on the northern EPL 4347. Now that the SkyTEM survey has identified conductive trends, it is apparent that there are several coincident vanadium soil anomalies (100-250 ppm) in close proximity to the interpreted DOF Extension. Elevated vanadium is also characteristic of the Western Targets magnetic anomaly along with cobalt which was previously noted from the regional and detailed soil surveys (Figure 3 and Figure 4). The Western Targets magnetic anomaly does not have any internal EM conductors but there are indications of conductors along its margins. Field crews will investigate these vanadium anomalies further and drill target positioning will take this into account.

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Figure 4 - Kunene Co-Cu Project Area showing airborne survey area (white dash) and vanadium anomalies from detailed soil geochemical surveys. Note concentrations of vanadium anomalies proximal to DOF Extension and with the Western Areas magnetic anomaly.  Background image is total magnetic intensity from the Namibian Geological Survey database combined with satellite surface topography.

Sample preparation and analyses of soil samples were carried out by Activation Laboratories Ltd. (Windhoek, Namibia and Ancaster, Ontario) employing appropriate ICP techniques and following strict internal QAQC procedures inserting standards and duplicates.

Donald M. Burton, P.Geo. and President of Namibia Critical Metals Inc., is the Company’s Qualified Person and has reviewed and approved this press release.

About Namibia Critical Metals Inc.

Namibia Critical Metals Inc. holds a diversified portfolio of exploration and advanced stage projects in the country of Namibia focused on the development of sustainable and ethical sources of metals for the battery, electric vehicle and associated industries. The common shares of Namibia Critical Metals Inc. trade on the TSX Venture Exchange under the symbol “NMI”.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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The foregoing information may contain forward-looking information relating to the future performance of Namibia Rare Earths Inc. Forward-looking information, specifically, that concerning future performance, is subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties are detailed from time to time in the Company's filings with the appropriate securities commissions.

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