Namibia Critical Metals Updates on Lofdal Joint Venture

Namibia Critical Metals Inc. has provided an update regarding its Lofdal Heavy Rare Earth Project. The company continues its collaboration with partners Japan Organization for Metals and Energy Security (JOGMEC) and Toyota Tsusho Corporation. The joint venture aims to finalize the conditions needed for their transaction, such as shareholder consent and regulatory approvals, including TSX Venture Exchange approval.

The partners have completed significant progress, reaching a C$23 million expenditure, thus earning a 50% interest in the project. Namibia Critical Metals holds a 95% interest in Lofdal, while the remaining 5% is allocated for Historically Disadvantaged Namibians. Further updates are expected once the required approvals are obtained.