Namibia Critical Metals Announces Drilling Started at Grootfontein Gold and Nickel-Copper Project

HALIFAX, July 28, 2021 - Namibia Critical Metals Inc. ("Namibia Critical Metals" or the "Company" or "NMI") (TSXV:NMI) is pleased to provide an update on exploration activities on its 95% owned Grootfontein and Erongo projects.

The Grootfontein Project consists of two large Exclusive Prospecting Licences with a total area of 163,784 ha (1,638 km²) and covers ground prospective for orogenic gold, magmatic copper-nickel-PGE and sediment-hosted lead-zinc-silver-copper-vanadium mineralisation. As previously announced (Company press release March 26, 2021) a number of geophysical surveys have been completed generating several drill targets. The large-scale airborne EM survey previously announced April 26, 2021 has been delayed due to permitting issues with the Namibian Department of Defence around the Grootfontein Air Base.

The Company has mobilized an RC drilling rig to Grootfontein and the drill program commenced earlier this week. The drill program will test the first set of four prospective structures defined by interpretation of geophysical and soil geochemical data. The program plans for 23 RC holes of a total 4,200 m to be completed within the next 6 weeks.

The Company has also commissioned a ground magnetic and ground Induced Polarization (Gradient Array IP) program at its Erongo Gold Project to target the Kanona North gold and arsenic soil anomaly (Company press release December 16, 2020) and plans to commence at Erongo by mid-September 2021.

The Company's Exclusive Prospecting Licenses ("EPLs") are located in the Central Namibian Gold Belt which hosts a number of significant orogenic gold deposits including the Otjikoto Gold Mine of B2Gold, the Navachab Gold Mine of QKR and Osino Resources' Twin Hill deposit.

Gold Prospectivity of the Grootfontein Project

Previous exploration activities by Namibia Critical Metals included geochemical soil surveys with a total of > 8,000 soil samples which delineated the high priority Highland Gold Target (Figure 1) and several other gold and gold pathfinder anomalies in the periphery and contact zone of the Grootfontein Mafic Complex with Meso- and Neoproterozoic metasediments (Press Release 16 December 2020 and March 26, 2021).

The company's current structural interpretation of the Grootfontein project is based on the 200 m line spacing magnetic survey data produced by the Geological Survey of Namibia. The structural setting is dominated by the major first order structure of the Grootfontein Shear Zone which 80 km westwards aligns with the Otjikoto orogenic gold deposit of B2Gold (2.8 Moz Au).

Second order structures related to the Grootfontein Shear Zone form the key targets for gold exploration. With gold in soil anomalies related to second order shear structures in the contact and within the GMC, the company pioneers targeting of mafic/ultramafic rocks for gold in Namibia (Figure 1). The high-resolution heli-borne EM and magnetic data from the SkyTEM system will refine drill targeting for gold at a later stage.

Figure 1 - Grootfontein Project with completed and planned geophysical surveys over key structures of the Grootfontein Shear Zone (GSZ) and Waterberg Fault.

Phase 1 drill program targets 3 geophysical and soil geochemical anomalies associated with second order structures of the Grootfontein Shear Zone. A total of 3,700 m of RC drilling are planned in 20 boreholes clustered in the east, centre and west of the Grootfontein Shear Zone. In addition, 3 holes for a total of 600 m are planned to test magnetic anomalies related to the Waterberg Fault (Figure 2).

Figure 2 - Planned drill collars of phase 1 drill program at the Grootfontein Project.

Cu-Ni-PGE Prospectivity of the Grootfontein Project

The Grootfontein area is one of the very few under-explored areas with geologically complex and prospective ground in Namibia. Historical exploration was limited and challenged due to the complete cover of the area with calcrete and Kalahari sands. Magnetic survey data delineated the covered the Meso-Proterozoic Grootfontein Mafic Complex (GMC) over an area of about 400 km².

Following geological reconnaissance by Anglo in the 1970s, the only drill program in the GMC took place by Gold Fields in 1988 and was limited to 6 diamond boreholes along two lines. The drill logs describe layered and often strongly sheared mafic to ultramafic rocks as gabbroids, norites and pyroxenites with up to 1.1% chromium.

Geophysical and geochemical studies by the Geological Survey of Namibia and international partner organisations revealed a depletion of the mafic silicate magma by copper and nickel which points to a likely earlier fractionation of a Cu-Ni-rich sulphide melt. This underlines the GMC's prospectivity for Voisey's Bay type Cu-Ni-PGE mineralisation which form part of the current exploration program.

Gold Prospectivity of the Erongo Project

The Erongo Gold Project comprises 606 square kilometers situated 20 kilometers north of the Navachab gold mine and 10 kilometers northwest of the Twin Hills discovery (Figure 3). The project area is centered on the Erongo granitic intrusive complex which was emplaced into the older metasedimentary rocks of the Damaran orogeny which host significant gold deposits at Twin Hills (just 10 km to the southeast), Navachab (30 km to the south) and at the Otjikoto gold mine operated by B2 Gold.

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 two advanced stage projects in the portfolio are Lofdal and Epembe. The Company also holds significant land positions in areas favourable for gold mineralization.

Figure 3 - Location of Namibia Critical Metals' projects highlighting position of gold projects (Erongo, Otjiwarongo and Grootfontein) in relation to important gold projects within the Navachab-Otjikoto gold belt

Heavy Rare Earths: The Lofdal Heavy Rare Earth Dysprosium-Terbium Project is the Company's most advanced project being fully permitted with a Mining Licence (ML 200) and Environmental Clearance Certificate (ECC) issued in 2021. The project is being developed in joint venture with Japan Oil, Gas and Metals National Corporation ("JOGMEC") to provide a sustainable supply of heavy rare earths to Japan, most notably dysprosium and terbium.

Gold: The Company's Exclusive Prospecting Licenses ("EPLs") prospective for gold are located in the Central Namibian Gold Belt which hosts a number of significant orogenic gold deposits including the Navachab Gold Mine, the Otjikoto Gold Mine and more recently the discovery of the Twin Hills deposit. At the Erongo Gold Project, stratigraphic equivalents to the meta-sediments hosting the recent Osino gold discovery at Twin Hills have been identified and soil surveys are progressing over this highly prospective area. The Grootfontein Base Metal and Gold Project has potential for magmatic copper-nickel mineralization, Mississippi Valley-type zinc-lead-vanadium mineralization and Otjikoto-style gold mineralization. Detailed interpretation of geophysical data and regional geochemical soil sampling have identified first gold targets.

Tantalum-Niobium: The Epembe Tantalum-Niobium-Uranium Project is at an advanced stage with a well-defined, 10 km long carbonatite dyke that has been delineated by detailed mapping and radiometric surveys with over 11,000 meters of drilling. Preliminary mineralogical and metallurgical studies including sorting tests (XRT), indicate the potential for significant physical upgrading. Further work will be undertaken to advance the project to a preliminary economic assessment stage.

Copper-Cobalt: The Kunene Copper-Cobalt Project comprises a very large area of favorable stratigraphy along strike of the Opuwo cobalt-copper-zinc deposit. Secondary copper mineralization over a wide area points to preliminary evidence of a regional-scale hydrothermal system. Exploration targets on EPLs held in the Kunene project comprise direct extensions of the cobalt-copper mineralization to the west, sediment-hosted copper, orogenic copper, and stratabound manganese and zinc-lead mineralization.

The common shares of Namibia Critical Metals Inc. trade on the TSX Venture Exchange under the symbol "NMI".

Donald M. Burton, P.Geo. is the Company's Qualified Person and has reviewed and approved the scientific and technical information in this press release.

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.

For more information please contact -

Namibia Critical Metals Inc.
Darrin Campbell, President
Tel: +01 (902) 835-8760
Fax: +01 (902) 835-8761
Email: Info@NamibiaCMI.com
Web site: www.NamibiaCriticalMetals.com

The foregoing information may contain forward-looking information relating to the future performance of Namibia Critical Metals 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.

SOURCE: Namibia Critical Metals Inc.