Namib Minerals

Redwing Dewatering Program On Schedule

Dewatering Progressing as Expected

Over 544,000m³ Pumped Since January Commencement

NEW YORK, May 19, 2026 (GLOBE NEWSWIRE) - Namib Minerals (“Namib” or “the Company”), (Nasdaq: NAMM), the African mining platform capitalizing on strategic resource opportunities, today provided an operational update on the restart process at its Redwing Mine in Zimbabwe where dewatering activities are progressing consistent with the operational framework outlined in its April 2026 business update.

“We are pleased that the restart process at Redwing is advancing on schedule,” said Tulani Sikwila, Chief Executive Officer of Namib Minerals. “The progress we have made on dewatering reinforces our confidence in the restart pathway as we look ahead to the next phase of technical work at the mine. Redwing is a central component of our long-term strategy of building a scaled, multi-asset African gold platform through disciplined brownfield development and phased capital deployment.”

Redwing is a brownfield mining site that has produced 650,000 ounces of gold historically and today holds 1.18 million ounces of gold in measured and indicated resources that we are targeting will provide the platform for Namib’s next phase of growth.

Since the commencement of dewatering activities on January 29, 2026, the Company has pumped approximately 544,570 cubic meters of water from the mine workings, with water levels declining by approximately 21.9 meters over the period. Current combined pumping capacity is approximately 640m³ per hour and water levels have declined to approximately 74.9 meters below the Redwing Shaft surface collar. This represents good progress toward targeted underground access levels.