23 February 2024

Kavango Resources

("Kavango" or "the Company")

ZIM: Hillside IP Surveys & Nara Drilling

Kavango Resources plc (LSE:KAV), the Southern Africa focussed metals explorer, is pleased to announce that it has commenced ground Induced Polarisation ("IP") surveys over four of its Hillside Gold Project ("Hillside Project") prospects. The Company intends to use the results of the work to inform an expanded drill program.

HIGHLIGHTS

-     IP surveys over four prospects at the Hillside Project, Zimbabwe

o Kavango is completing 16-line km of IP survey lines over targeted areas within four prospects on the Hillside Project.

o Surveys designed to identify sulphide bodies associated with high-grade gold-bearing shear structures related to historic and artisanal workings.

-     Drilling on four prospects within the Hillside Project

o Four diamond core holes completed for a total of 1,306m at four prospects on the Hillside Project gold targets.

o Visual observations from the cores are encouraging; samples are awaiting export permission for assay testing.

o Additional 1,400m of diamond drilling planned to test targets identified by current IP survey programme and extend intersections observed in recent drilling.

-     Ongoing exploration in Zimbabwe

o Access and infrastructure preparation underway at Nara Project for planned drill programme.

Ben Turney, Chief Executive of Kavango Resources, commented:

"We have now drilled four of the Hillside prospects, and the initial visual inspections are promising. We brought forward the Induced Polarisation (IP) surveys here, based on visual observation of cores and other field measurements taken by our team. While we must await the assay results for confirmation of possible gold values, we feel confident to continue further exploration at Hillside.

IP surveys can be used to map underground metal mineralisation that is associated with gold. This can be a powerful exploration tool to plot the extent of possible ore bodies. The extra IP data will help guide future drilling, by providing Kavango with focused target areas.

In the meantime, we continue our preparations to drill Nara."

Hillside Project

Four diamond core holes have been completed for a total of 1,306m at Hillside over four prospects. The core has been logged, cut, and sampled, with selected samples being selected for shipment to a laboratory for assay testing.

Visual observations from the cores are encouraging. These visual intersections are coincident with multiple known mineralised zones projected down from surface, and are associated with sulphides and alteration.

Kavango's drilling objective is to acquire representative intersections from multiple gold-bearing structures at the prospects to improve its understanding of their individual mineralisation style, extent, distribution, and potential grade. Kavango will use this information to inform follow-up drilling and assess the potential for hosting bulk-mineable gold deposits.

Kavango has placed a contract for 16-line kilometres of IP survey lines over targeted areas within the four prospects at Hillside. The work is now in progress.

The Company will follow Initial Gradient Array IP on 25m spaced lines with IP sections to aid drill planning. The survey lines are designed to bisect the extent of historic and artisanal workings along with Kavango's recently-completed scope drilling sections. The IP surveys are planned to target sulphide-associated high-grade gold hosted in quartz veins along shear structures.

Kavango is planning an additional 1,400m of diamond drilling to test targets identified by the IP survey and further assess intersections observed in recent drilling.

The planned intersection depth for each of the prospects is up to 350m, ensuring coverage of both the current observed sulphide intersections and the anticipated IP targets. Subject to results, Kavango plans to use the drilling to inform follow-up drilling targeting a bulk-mineable gold discovery.

Nara Project

Kavango is currently preparing drilling access and infrastructure at the Nara Project. The Company is planning a drill programme pending the results of its current geological mapping exercise at the Project, its proposed ground geophysics programme, and assays from its soil geochemistry programmes.

In addition, Kavango has received analyses from the 90 augur holes it drilled on the large tailings dump at Nara. These are now with a resource consultant for modelling.

Leopard Project

Kavango has reviewed data from previous drone surveys over the two Leopard Project prospects. It has also re-processed magnetic data over one area and is currently processing data from a remaining block.

Preparations for a geochemical soil sampling programme at the Leopard Project are now underway and are planned to be followed up by a ground geophysical programme.

Operational Update

Additional technical recruitment is underway to ensure capacity matches the size of the Company's work programs.

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

For further information please contact:

Kavango Resources plc                                                                                   

Ben Turney

+46 7697 406 06

First Equity (Broker)

+44 207 374 2212

Jason Robertson            

Kavango Competent Person Statement

The technical information contained in this announcement pertaining to geology and exploration have been read and approved by Brett Grist BSc(Hons) FAusIMM (CP).  Mr Grist is a Fellow of the Australasian Institute of Mining and Metallurgy with Chartered Professional status.  Mr Grist has sufficient experience that is relevant to the exploration programmes and geology of the main styles of mineralisation and deposit types under consideration to act as a Qualified Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'.