Kavango Resources plc announced that it has received a maiden Resource Estimate (the " Resource Estimate") for the tailings dump at the Nara Gold Project ("Nara") in Zimbabwe. The Resource Estimate highlights the potential for the tailings dump to provide Kavango with a significant near-term source of gold production and early, non-dilutive free cash flow. The Mineral Resource Statement presented has been classified in accordance with the requirements of the 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC 2012 Edition).

The Competent Person who assumes responsibility for reporting of the Mineral Resource is Dr. John Arthur who is a Competent Person as defined by the JORC Code 2012 Edition, having more than 5 years experience that is relevant to the style of mineralisation and type of deposit described herein, and to the activity for which he accepts responsibility. The effective date of the Mineral Resource statement is 5 March 2024. Updated surface topography and original basal topography along with surveyed drill collars were used to model the volumetric domains for the larger East and smaller West dumps.

Auger drilling results were validated and composited prior to Exploratory data analysis (EDA) which established the nature of the variography and indicated anisotropic ranges of between 40-60m for the gold grade distribution within the individual dump domains. He has a PhD from Cardiff university. Dr. Arthur has sufficient experience that is relevant to the exploration programmes and geology of the main styles of mineralisation and deposit types under consideration to act as a Qualified Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of exploration Results, Mineral Resources and OreReserves'.

Sampling techniques: Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). Assay data was received as assay certificates and cross checked against sample submission data to ensure a correct match. Location of data points: Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.

Specification of the grid system used. There is apparent unconformity between the Lower and Upper greenstones. Historical reports and longitudinal sections show mining of at least two parallel orebodies and a third oblique splay.

The southern or footwall reef consists of massive boudinage quartz veins, and the northern hangingwall reef consists of quartz stringers, both hosted within mafic schist. If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case. These data are provided as an appendix in the Mineral Resource Report to the Company.

Data aggregation methods: In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated. Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. relationship between mineralisation widths and intercept lengths: These relationships are particularly important in the reporting of Exploration Results.

If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg 'down hole length, true width not known'). These are contained in separate resource report.

Other substantive exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geochemical survey results; geochemical survey results; bulk samples - size and method of treatment; bulk density, groundwater, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances; potential deleterious or contamination substances; Data used for the material; Data used for the mineralisation and rock characteristics; Data used for the material, and rock characteristics; Data used to the potential deleterious or contamination; Data used for the mineralization. Data used for the mineralisation of the mineralisation widths and rock characteristics; and rock characteristics; and data used for the mineralisation widths. Data used for the drill hole length of the mineralisation of the mineralization of the mineralisation is not known, if deleterious or any material, if the mineralisation is not limited to the mineralisation widths.