6 March 2026

Kavango Resources PLC

("Kavango" or the "Company")

Additional Fundraise in the UK and Zimbabwe, Director Subscription

Kavango Resources plc (LSE:KAV, VFEX:KAV.VX), the Southern Africa focused metals exploration and gold production company, is pleased to announce that it has raised, by way of subscription, approximately US$4.7 million in Zimbabwe (the "VFEX Subscription") at the equivalent of £0.01 per share (the exchange rate which is set out in the VFEX Prospectus) (the "VFEX Shares") and £2.8 million in the UK at £0.01 per share (the "UK Subscription"). The Company has therefore raised in total approximately US$8.4 million by way of subscription at approximately a 33% premium to the mid-market price at close on 5 March 2026. A total of 629,991,138 new Ordinary Shares are to be issued under the VFEX Subscription and the UK Subscription.

Chairman and Interim CEO Peter Wynter Bee, has subscribed for 20,000,000 of the shares in the UK Subscription also at £0.01 per share.

Admission

Application has been made for the shares to be issued pursuant to the UK Subscription (the "UK Shares") to be admitted to trading on the Main Market of the London Stock Exchange plc (the "LSE") ("Admission").

Application has been made for the VFEX Shares to be first admitted to trading on the Main Market of the LSE and then immediately transferred to Zimbabwe through a branch register control account, in order for the VFEX Shares to be listed and directly traded on the Victoria Falls Stock Exchange in Zimbabwe ("VFEX Admission").

It is expected that Admission and the VFEX Admission will become effective and that dealings in the UK Shares and the VFEX Shares will commence at 8.00 am on or around 16 March 2026.

Use of funds

Proceeds from the VFEX Subscription and the UK Subscription, in addition to the existing cash resources of the Company and committed funds, amount to approximately US$ 13.5 million, which are intended to be used for the further expansion of the Hillside gold production, the acquisition of Nara and any associated litigation expenses in order to inter alia complete such acquisition, further exploration and general working capital in Zimbabwe.  

Further information can be found in the Company presentation available on the Company's website. https://www.kavangoresources.com/investors/company-presentation/

For further information, please contact: