Hillside project processing plant commissioned

02 November 2026

Kavango Resources plc

(“Kavango” or the “Company”)

Hillside Gold Project processing plant successfully commissioned and operational

Kavango Resources plc (LSE: KAV, VFEX: KAV.VX), the Southern Africa-focused metals exploration and gold development company, is pleased to announce the successful statutory commissioning of its concept phase 50 tonne per day (“tpd”) gold processing plant (“the Plant”) at the Hillside Gold Project (“Hillside”) in Zimbabwe.

Highlights

• The Ministry of Mines & Mining Development on 30 October 2026 permitted the commissioning of the 50tpd Hillside pilot processing plant and Tailings Storage Facility (“TSF”)
• Plant processing ore through crushing, milling, gravity concentration and carbon-in-leach (“CIL”) circuit
• Plant operating as a proof-of-concept facility to optimise processing performance and support design, manufacture and installation of a larger commercial scale processing plant
• Bill's Luck hosts a JORC Mineral Resource of 33,900 ounces (“oz”) gold at 2.68 grammes per tonne (“g/t”), with expected plant recoveries of 90-93%
• Development infrastructure upgrades are underway to support future production growth at Hillside

Jasper Musadaidzwa, Chief Executive Officer, commented:

“Achieving statutory commissioning of the processing plant and TSF is a significant milestone for Hillside and an important step towards commercial-scale operations.

“The concept phase plant enables us to optimise processing performance, confirm metallurgical recoveries under operating conditions and further refine our understanding of the orebody ahead of larger-scale development. With expected gold recoveries of 90-93% from Hillside, we believe the project has the potential to become a meaningful and scalable gold production centre within our portfolio.

“Alongside commissioning, we are continuing to upgrade site infrastructure to support future growth and expansion. Our focus is now on improving operational efficiencies and generating the technical and operating data required to support the design and development of a commercial-scale processing facility. Through this work, we are establishing the foundations to unlock the full value of the Hillside Gold Project.”

Statutory commissioning achieved for Plant and TSF

The Plant and TSF were both declared commissioned and operational by the Ministry of Mines & Mining Development Matabeleland South on 30 October 2026. Both units were found to meet compliance for the applicable mining, safety and environmental requirements after a review of appropriate documentation and site visits w/c 26th October.

The plant has been processing a combination of Run-of-Mine (“ROM”) ore, previously stockpiled gold-bearing sands and freshly milled sands from Hillside during commissioning. Gold continues to be successfully absorbed within the pilot CIL circuit, with gold production increasing from 397g at the first elution in August to 539g in September.

The Hillside pilot processing plant was developed as a proof-of-concept project to validate the Company's processing flowsheet and confirm expected metallurgical performance. The operational and metallurgical data generated are expected to inform future development and expansion decisions as Kavango advances Hillside toward larger-scale production.

Bill’s Luck Underground hosts a JORC-compliant Mineral Resource of 33,900 ounces of gold (Measured, Indicated and Inferred) at a grade of 2.68g/t. As announced on 20 May 2026, metallurgical test work undertaken on blends of Nightshift and Bill’s Luck ore achieved gold recoveries of greater than 95% under laboratory conditions, with expected operating recoveries of between 90% and 93% under commercial plant conditions.

Development work continues at Hillside

The Company is pleased to update the market on significant infrastructure development at Hillside as it prepares for the next phase of production growth. Several key workstreams are advancing, including the installation of a 13-metre headframe at Bill’s Luck Main Vertical Shaft, upgrades to power and water supply infrastructure, planning of future exploration programmes and the development of an enhanced employee accommodation camp.

Further information in respect of the Company and its business interests is provided on the Company's website at www.kavangoresources.com 

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