14 April 2026

Kendrick Resources Plc
("Kendrick" or "the Company")

Namibia REE Project, Teufelskuppe Drilling Update

Kendrick is pleased to announce highly encouraging results from its ongoing drilling programme at the Teufelskuppe ("TK") rare earth carbonatite project in Namibia, further reinforcing the project's potential to host a globally significant light rare earth element ("LREE") resource.

Handheld pXRF¹ analysis has now been completed on drill hole TKDD002, which was drilled to a final depth of 116m within the TK carbonatite complex. The results provide a strong early-stage indication of exceptional LREE mineralisation, with assays from an independent certified laboratory currently pending. The Company holds a 70% interest in the Teufelskuppe  and Kiešhöhe ("KH") exploration licences through its agreement with Bonya Exploration Pty Namibia Ltd.

Highlights

·      High-grade LREE intercept of 3.4% over 7.0m from 109m, confirming the presence of significant mineralisation and further supporting the project's strong grade profile.

·      Grades are consistent with, and in places exceed, surface sampling results, which returned an average of 3.16% TREO across all eight carbonatite bodies - placing Teufelskuppe among the more compelling rare earth projects globally in terms of grade.

·      Multiple very high-grade intervals identified, including peak values of up to 14.8 wt%, 9.80 wt%, 6.50 wt%, 5.20 wt% and 3.90 wt % LREO, comprising a partially consolidated clay - carbonatite fill.

·      The mineralisation encountered within the carbonatite system indicates continuity of high-grade LREE mineralisation, reinforcing confidence in the scale and quality of the deposit.

·      The intersected carbonatite zone between 76.5m and 116m highlights a weathered and strongly mineralised system, with high-grade zones suggesting the presence of a substantial and fertile rare earth-bearing environment.

·      These results build on previously reported drilling, including TKDD001, which returned 8.14% TREO over 21.16m, further underlining the project's potential to host globally competitive rare earth grades.

·      Drilling at TKDD003 has commenced on the TK2 carbonatite body, targeting depth extensions beneath previously defined high-grade zones, with the aim of confirming continuity across the broader TK complex.

Colin Bird, Executive Chairman said:" This hole TKDD002 supports the statement that grades of over 3% TREO exist over the eight carbonatite bodies.  Management and the on-site team are actively considering all available rare earth industry techniques to optimise the raw data to be generated for a feasibility study.  High-grade rare earth deposits frequently occur in highly weathered systems and we are considering the use of reverse circulation drilling to improve sample recovery and productivity. We will keep the market advised of drilling and other technical progress as work progresses."

Commentary

The results from TKDD002 continue to demonstrate the exceptional grade and scale potential of the Teufelskuppe project. The consistency between surface and drilling results, combined with the presence of very high-grade zones, provides increasing confidence that the project could represent a significant new source of light rare earth elements.

The Company believes that the grades encountered to date compare favourably with many advanced rare earth projects globally, positioning Teufelskuppe as a highly attractive development opportunity in a strategically important commodity sector.

With further drilling underway, Kendrick Minerals remains focused on rapidly advancing the project and unlocking its full potential.

Note 1: The handheld pXRF has been calibrated using pulps generated from the certified analysis of drill hole TKDD002 together with other standards provided by external third parties. The pXRF analyses are indicative and may not be wholly representative of the final assay analyses generated by certified laboratories. pXRF analyses provide an early assessment of mineralised intercepts that ultimately require more accurate assessment through certified laboratories.

For further information, please contact:

Qualified Person

The technical information contained in this announcement has been reviewed, verified, and approved by Colin Bird, CC.ENG, FIMMM, South African and UK Certified Mine Manager and Director of Kendrick Resources plc, with more than 40 years' experience mainly in hard rock mining.

About Kendrick Resources Plc

Kendrick Resources Plc is a mineral exploration and development company whose strategy is to acquire and enhance the value of its mineral resource projects through exploration, technical studies and resource development and to bring projects to production through joint venture or other arrangements or their sale.

The Kendrick Board has extensive resource project experience in southern Africa and has gravitated back to the region with the acquisition of the Bonya Rare Earth Project located in Namibia and in late 2025 exercised an option in relation to the acquisition of the Blue Fox Licence, 34412-HQ-LEL located in northwest Zambia

Glossary:

Carbonatite: An igneous rock containing >50 modal % primary (magmatic) carbonate and ≤20 wt% SiO₂. There are three main types: Calcitic (calcio) carbonatites, magnesiocarbonatites and ferrocarbonatites. Occur as lava flows and more commonly as intrusions.

Carbonate: Common minerals containing the carbonate anion (CO3^2-) for example calcite (CaCO₃), dolomite (CaMg(CO₃)₂, siderite (FeCO₃) and Ankerite Ca(Fe,Mg,Mn)(CO₃)₂.

Cone sheet: A type of ring intrusion with margins which dip inwards.

Ferrocarbonatite: A carbonatite in which the main carbonate mineral is iron-rich, for example, ferroan dolomite, ankerite or siderite.

Fluorcarbonates: A group of minerals consisting of variable calcium, high fluorine, and rare earth elements. Examples are Synchysite and Parisite.

Parisite: A group of fluorcarbonates with typical mineral formula Ca(Ce/La/Nd/REE)₂(CO3)₃F₂.

Jorc 12 Mineral Resource Code: The Australian Code for Reporting Exploration results, Mineral resources and Ore reserves. Enforces minimum standards and guidelines for public reporting of mineral resources and ore reserves. Classifies mineral resources into Inferred, Indicated and Measured based on the level of geological confidence regarding the quality and quantity of the resource.

Petrological studies: the study of the formation of rocks, subsequent deformation and alteration. Quantification of mineral composition and mineral relationships.

REE : Rare Earth Elements. Elements with an atomic number between 57 and 71 plus Scandium and Yttrium.

TREE: Total Rare Earth Elements; sum of LREE and HREE to a total of 17 elements.

LREE: Light Rare Earth Elements including Lanthanum (La), Cerium (Ce), Neodymium (Nd), Praseodymium (Pr), Scandium (Sc), Samarium (Sm) and Europium (Eu) and Promethium (Pm).

HREE: Heavy Rare Earth Elements including Yttrium (Y), Gadolinium (Gd), Terbium (Tb), Dysprosium (Dy), Holmium (Ho), Erbium (Er), Thulium (Tm), Ytterbium (Yb) and Lutetium (Lu).

LREO: Light Rare Earth Oxides including La₂O₃, CeO₂, Nd₂O₃, Pr₆O₁₁, Sc₂O₃, Sm₂O₃, Eu₂O₃.

HREO: Heavy Rare Earth Oxides including Y₂O₃, Gd₂O₃, Tb₄O₇, Dy₂O₃, Ho₂O₃, Er₂O₃, Tm₂O₃, Yb₂O₃ and Lu₂O₃.

Wt % = Weight Percentage