Namib Minerals Accelerates Redwing Mine Restart In Zimbabwe, Targeting First Gold Production In November 2026

Namib Minerals ("Namib" or the "Company") (NASDAQ:NAMM) today announced plans for an accelerated restart of operations at Redwing Mine in Zimbabwe, with first gold production expected in November 2026.

The accelerated development programme builds on the completion of dewatering, refurbishment of critical mine infrastructure and the resumption of crushing activities, bringing the mine closer to its return to production.

In April 2026, the Company announced that it did not intend to resume production at Redwing Mine until completion of a Definitive Feasibility Study ("DFS") focused on redesigning the mine to increase its production capacity. However, following a recent policy step by the Zimbabwe Ministry of Mines and Mining Development’s (the "Ministry") on the Reservation of the Small-Scale and Medium-Scale Gold Mining Sector for Zimbabwean Citizens (the "Policy"), the Company has adjusted its approach to the restart.

Under the Policy, the Ministry has introduced production requirements for foreign-owned operators, with prescribed thresholds to be met by January 1, 2027. In response, the Company initiated a parallel workstream to refurbish and recommission Redwing’s existing underground workings and processing plant, which the Company expects will allow it to bring the mine back into production ahead of the completion of the DFS. Through this accelerated workstream, Namib is targeting its first gold pour in November 2026.