Mkango Announces Management Changes and Appointment of Investor Relations Advisor

England. Mon�ort currently holds no securi�es of Mkango, however, Mon�ort may from �me to �me acquire or dispose of securi�es of the Company through the market, privately or otherwise, as circumstances or market condi�ons warrant and in accordance with applicable securi�es laws. As considera�on for the services to be provided, Mon�ort will receive cash compensa�on in the amount of £5,000 per month for three months and an administra�on fee equal to 8% of the cash compensa�on. The appointment of Mon�ort is subject to the approval of the TSX-V.

Derek Linfield, Chairman of Mkango commented:

“We are very pleased that Tim Slater has agreed to rejoin the Mkango team as Interim CFO. Tim returns at a pivotal point in the Company’s history as it proceeds towards a lis�ng on NASDAQ of the Company’s subsidiary, Mkango Rare Earths Limited.

The addi�on of Sco� to the team will allow us to accelerate development of exis�ng and new opportuni�es in the sector.

We would like to thank Rob for his contribu�on and wish him well with his future endeavours.”

For further informa�on on Mkango, please contact:

Mkango Resources Limited

William Dawes Chief Execu�ve Officer [email protected]

Alexander Lemon President [email protected]

Canada: +1 403 444 5979 www.mkango.ca @MkangoResources

SP Angel Corporate Finance LLP

Nominated Adviser and Joint Broker Jeff Kea�ng, Jen Clarke, Devik Mehta UK: +44 20 3470 0470

Alterna�ve Resource Capital

Joint Broker Alex Wood, Keith Dowsing UK: +44 (020) 4530 9160/77

H&P Advisory Limited

Joint Broker Andrew Chubb, Leif Powis, Jay Ashfield UK: +44 20 7907 8500

Mon�ort Communica�ons

Nick Miles, Ann-marie Wilkinson, Jack Hickman UK: ++44 (0)20 3514 0897 mkango@mon�ort.london

About Mkango Resources Ltd.

Mkango is listed on the AIM and the TSX-V. Mkango’s corporate strategy is to become a market leader in the produc�on of recycled rare earth magnets, alloys and oxides, through its interest in Maginito, which is owned 79.4 per cent by Mkango and 20.6 per cent by CoTec Holdings Corp (“CoTec”), and to develop new sustainable sources of neodymium, praseodymium, dysprosium and terbium to supply accelera�ng demand from electric vehicles, wind turbines and other clean energy technologies.

Maginito holds a 100 per cent interest in HyProMag Limited and a 90 per cent direct and indirect interest (assuming conversion of Maginito’s conver�ble loan) in HyProMag GmbH, focused on short loop rare earth magnet recycling in the UK and Germany, respec�vely, and a 100 per cent interest in Mkango Rare Earths UK Ltd (“Mkango UK”), focused on long loop rare earth magnet recycling in the UK via a chemical route.

Maginito and CoTec are also rolling out HPMS recycling technology into the United States via the 50/50 owned HyProMag USA LLC joint venture company.

Mkango also owns the advanced stage Songwe Hill rare earths project in Malawi (“Songwe”) and the Pulawy rare earths separa�on project in Poland (“Pulawy”). Both the Songwe and Pulawy projects have been selected as Strategic Projects under the European Union Cri�cal Raw Materials Act. Mkango has signed a business combina�on agreement (“Business Combina�on Agreement”) with Crown PropTech Acquisi�ons (“CPTK”) to list the Songwe Hill and Pulawy rare earths projects on NASDAQ via a SPAC Merger under the name Mkango Rare Earths Limited (“Proposed Business Combina�on”).

For more informa�on, please visit www.mkango.ca

Cau�onary Note Regarding Forward-Looking Statements

All statements other than statements of historical facts contained in this news release, including statements regarding MKAR’s and Mkango’s future financial posi�on, results of opera�ons, business strategy, and plans and objec�ves of their management team for future opera�ons, are forward-looking statements. Any statements that refer to projec�ons, forecasts or other characteriza�ons of future events or circumstances, including any underlying assump�ons, are also forward-looking statements. In some cases, you can iden�fy forwardlooking statements by words such as “es�mate,” “plan,” “project,” “forecast,” “intend,” “expect,” “an�cipate,” “believe,” “seek,” “strategy,” “future,” “opportunity,” “may,” “target,” “should,” “will,” “would,” “will be,” “will con�nue,” “will likely result,” “preliminary,” or similar expressions that predict or indicate future events or trends or that are not statements of historical ma�ers, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements include, without limita�on, the outlook for Mkango’s business, produc�vity, plans, goals for future opera�onal improvements, capital investments, opera�onal performance, future market condi�ons, economic performance, developments in the capital and credit markets, expected future financial performance, capital expenditure plans and �meline, mineral reserve and resource es�mates, produc�on and other opera�ng results, produc�vity improvements, expected net proceeds, expected addi�onal funding, the percentage of redemp�ons of CPTK’s public shareholders, growth prospects and outlook of MKAR’s or Maganito’s opera�ons, individually or in the aggregate, including the future lis�ng of MKAR on Nasdaq, as well as any informa�on concerning possible or assumed future results of opera�ons of Mkango and MKAR. Forward-looking statements also include statements regarding the expected benefits of the Proposed Business Combina�on. The forward-looking statements are based on the current expecta�ons of the respec�ve management teams of CPTK, Mkango and MKAR, as applicable, and are inherently subject to uncertain�es and changes in circumstance and their poten�al effects. There can be no assurance that future developments will be those that have been an�cipated. These forwardlooking statements involve a number of risks, uncertain�es or other assump�ons that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertain�es include, but are not limited to, (i) the risk that the Proposed Business Combina�on may not be completed in a �mely manner or at all, which may adversely affect the price of CPTK’s, MKAR’s or Mkango’s securi�es,

(ii) the risk that the Proposed Business Combina�on may not be completed by CPTK’s business combina�on deadline, or at all, and the poten�al failure to obtain an extension of the business combina�on deadline if sought by CPTK, MKAR or Mkango (iii) the failure to sa�sfy the condi�ons to the consumma�on of the Proposed Business Combina�on, including the approval of the Business Combina�on Agreement by Mkango ,the shareholders of CPTK, and the TSX-V, the sa�sfac�on of the minimum cash amount following redemp�ons by CPTK’s public shareholders and the receipt of certain governmental and regulatory approvals, (iv) market risks, including the price of rare earth materials, (v) the occurrence of any event, change or other circumstance that could give rise to the termina�on of the Business Combina�on Agreement, (vi) the effect of the announcement or pendency of the Proposed Business Combina�on on CPTK’s, Mkango’s or MKAR’s business rela�onships, performance, and business generally, (vii) the outcome of any legal proceedings that may be ins�tuted against CPTK or MKAR related to the business combina�on agreement or the Proposed Business Combina�on, (viii) failure to realize the an�cipated benefits of the Proposed Business Combina�on, (ix) the inability of MKAR to meet the lis�ng requirements of the Nasdaq Stock Market, or if listed, the inability of MKAR to maintain the lis�ng of its securi�es on the Nasdaq Stock Market, (x) the risk that the price of MKAR securi�es may be vola�le due to a variety of factors, including changes in the highly compe��ve industries in which MKAR plans to operate, varia�ons in performance across compe�tors, changes in laws, regula�ons, technologies, natural disasters or health epidemics/pandemics, na�onal security tensions, and macroeconomic and social environments affec�ng its business, and changes in the combined capital structure, (xi) the inability to implement business plans, forecasts, and other expecta�ons a�er the comple�on of the Proposed Business Combina�on, iden�fy and realize addi�onal opportuni�es, and manage its growth and expanding opera�ons, (xii) the risk that Mkango may not be able to successfully develop its assets, (xiii) the risk that Mkango will be unable to raise addi�onal capital to execute its business plan, which many not be available on acceptable terms or at all, (xiv) poli�cal and social risks of opera�ng in Malawi or Poland, (xv) opera�onal hazards and risks that Mkango could face, and (xvi) the risk that addi�onal financing in connec�on with the Proposed Business Combina�on may not be raised on favorable terms, in a sufficient amount to sa�sfy the minimum cash amount condi�on to the Business Combina�on Agreement. The foregoing list is not exhaus�ve, and there may be addi�onal risks that CPTK, Mkango, or MKAR presently do not know or that they currently believe are immaterial. You should carefully consider the foregoing factors, any other factors discussed in this news release and the other risks and uncertain�es described in CPTK’s filings with the SEC, Mkango’s filings on SEDAR+, the risks to be described in a registra�on statement on Form F-4, which will include a proxy statement/prospectus, and those discussed and iden�fied in filings made with the SEC by CPTK and MKAR, from �me to �me. Mkango cau�on you against placing undue reliance on forward-looking statements, which reflect current beliefs and are based on informa�on currently available as of the date a forward-looking statement is made. Forward-looking statements set forth in this news release speak only as of the date of this news release. None of CPTK, Mkango, or MKAR undertakes any obliga�on to revise forward-looking statements to reflect future events, changes in circumstances, or changes in beliefs. In the event that any forward-looking statement is updated, no inference should be made that CPTK, Mkango, or MKAR will make addi�onal updates with respect to that statement, related ma�ers, or any other forward-looking statements. Any correc�ons or revisions and other important assump�ons and factors that could cause actual results to differ materially from forwardlooking statements, including discussions of significant risk factors, may appear, up to the consumma�on of the Proposed Business Combina�on, in CPTK’s or MKAR’s public filings with the SEC, which are or will be (as appropriate) accessible at www.sec.gov, or Mkango’s public filings on SEDAR+, which you are advised to review carefully.

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. Neither the TSX Venture Exchange nor its Regula�on 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.

This press release does not cons�tute an offer to sell or a solicita�on of an offer to buy any equity or other securi�es of the Company in the United States. The securi�es of the Company will not be registered under the United States Securi�es Act of 1933, as amended (the "U.S. Securi�es Act") and may not be offered or sold within the United States to, or for the account or benefit of, U.S. persons except in certain transac�ons exempt from the registra�on requirements of the U.S. Securi�es Act.