Namibia Critical Metals Inc. announced an updated NI 43-101 Mineral Resource Estimate for the large-scale "Lofdal 2B-4" heavy rare earth project. The Company conducted a two-stage infill drilling campaign for the subprojects Area 4 and Area 2B with the purpose of increasing the confidence of the resources for the planned open pits of Area 4 and Area 2B. The MSA Group provided an NI 43-101 Mineral Resource Estimate which includes the new data.

Contained tonnages of Dysprosium and Terbium - the most valuable heavy rare earth elements - amount to 4,503 tonnes Dysprosium oxide and 693 tonnes Terbium oxide in the combined Measured and Indicated Resource categories which represents an increase of 11% and 12%, respectively, compared to the previous Mineral Resource Statement; 38% increase in contained Dysprosium oxide and 39% increase in contained Terbium oxide in the Inferred Resources for the combined Area 4 and Area 2B deposits; 31% increase in contained Total Rare Earth Oxide (TREO1) tonnage in the combined Measured and Indicated Resource categories from 72,680 tonnes to 93,731 tonnes; The combined Measured and Indicated Mineral Resources increased from 44.8 million tonnes at 0.17% TREO to 58.5 million tonnes at 0.16% TREO for the combined Area 4 and Area 2B deposits based on the same cut-off of 0.1 % TREO as in the previous PEA. The final drill program was worked out by the Company with support by The MSA Group to increase the level of resource categories as required for the PFS for the expanded project "Lofdal 2B-4". Samples were collected at the drill rig's cyclone ("A-sample") and submitted to Actlab's preparatory laboratory in Windhoek, Namibia, in batches of 200 to 300 samples.

The samples were dried and crushed to 2 mm, split using a riffle splitter and pulverised to 105 µm. Pulverised sub-samples were homogenised in a stainless-steel riffle splitter and a 15 g sample and duplicate were drawn for analysis. The pulverised sample aliquots were shipped to the ISO/IEC 17025 accredited Actlabs analytical facility in Ancaster, Ontario, Canada. The samples were assayed using lithium metaborate-tetraborate fusion and Inductively Coupled Plasma Mass Spectrometry (ICP-MS).

Actlab's analytical code "8-REE" includes 45 trace elements, 10 major oxides, Loss on Ignition, and mass balance. The samples were subjected to a quality assurance and quality control (QAQC) program consisting of the insertion of blank samples, field duplicates and certified reference materials at Lofdal and the preparation of a laboratory duplicate at the sample preparation facility in Windhoek. The Mineral Resource was estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Best Practice Guidelines and is reported in accordance with the 2014 CIM Definition Standards, which have been incorporated by reference into National Instrument 43-101 - Standards of Disclosure for Mineral Projects (NI 43-101).

The Mineral Resource is classified into the Measured, Indicated and Inferred categories and is reported at a cut-off grade of 0.1% total rare earth oxides (TREO). NCMI is developing the Tier-1 Heavy Rare Earth Project, Lofdal, a globally significant deposit of the heavy rare earth metals dysprosium and terbium. Demand for these critical metals used in permanent magnets for electric vehicles, wind turbines and other electronics is driven by innovations linked to energy and technology transformations.

The geopolitical risks associated with sourcing many of these metals has become a repeated concern for manufacturers and end users. Namibia is a proven and stable mining jurisdiction.