Namibia Critical Metals Announces Pre-Feasibility Study for Lofdal Project

Namibia Critical Metals Inc. has filed the NI 43-101 Pre-Feasibility Study for its Lofdal Heavy Rare Earths Project "2B-4" in Namibia. This project shows potential for significant production of dysprosium, terbium, and yttrium, which are key to the project's economic viability. The venture involves a collaboration with Japan Organization for Metals and Energy Security (JOGMEC) to ensure a steady supply of heavy rare earths to Japan.

SGS Bateman independently conducted the study. Namibia Critical Metals holds a 95% interest in the project, while JOGMEC has earned a 40% stake by completing Term 2 of their joint venture agreement, contributing C$10 million. Total backing currently stands at C$17.445 million of a C$20 million target for a 50% interest acquisition.