Ongwe Minerals Discovers New Multi-Kilometer Gold Anomaly At Its Omatjete Gold Project In Namibia

Highlights:

• New Nguni surface gold discovery 17km from Ongwe's existing Manga gold discovery and 55km from Wia Gold's 2.93Moz Kokoseb project.
• Anomaly is currently over 5km in strike length and remains open to the north, east and west.
• Soil samples assay up to 730ppb Au with multi-kilometer trends above 100ppb Au, similar in size and grade to the Kokoseb soil anomaly.
• Mineralization at the Nguni discovery appears to be concentrated within the metasediments near granitic contacts (Kokoseb analogy).
• The Nguni anomaly was discovered by utilizing Ongwe's in-house detectORE™ system.
  

VANCOUVER, British Columbia, June 09, 2026 -- Ongwe Minerals Inc. (TSXV: OGW) ("Ongwe" or "the Company") is pleased to report the discovery of a new 5km long, gold in soil anomaly located 17km from its existing Manga Gold discovery.

Dave Underwood, Ongwe's CEO commented: "The newly discovered Nguni prospect is the biggest gold in soil anomaly I have seen in Namibia since first embarking on exploration here in 2008. This surface gold discovery is just 17km from our Manga gold discovery at the Omatjete Gold Project and 55km from Wia Gold's 2.93Moz Kokoseb gold project, all associated with the same structural trend. The tenor of the gold anomaly is also very impressive with twenty-eight samples assaying above 300ppb Au and eight above 500ppb Au so far. Although the grade of the soil anomaly doesn't necessarily indicate the grade in the rocks below, it is promising that the gold numbers are similar to those at Kokoseb, when the discovery was announced in September 2021. The mineralization is located in a textbook structural setting, where a regional scale fault jogs around brittle granitic intrusions creating space and hydrothermal fluid pathways.

We are currently doing infill mapping and sampling to accurately define the mineralization footprint for the drill program to start in H2 2026. The Nguni prospect is currently open to the north, east and west and we look forward to chasing the mineralization to its full extent.

This discovery validates our faith in the Omatjete Gold Project, and we look forward to developing the Nguni and Manga targets while continuing the grassroots sampling over the rest of this exciting and rapidly emerging gold district."

Figure 1: Regional map illustrating the Nguni gold anomaly in relation to the Manga gold discovery and the initial soil sampling results at the Kokoseb Gold Deposit (WIA Gold, Press Release ASX, 6 September 2021). The image highlights the primary structural control of the Okondeka Fault Zone and the scale of initial gold-in-soil results across the three discoveries.

Nguni's Regional Significance

Following the identification of the Okondeka Fault Zone (OFZ), Ongwe has further refined its target generation and recognized the importance of late granitic intrusions, which control the propagation of the Okondeka fault system. The faults are propagated within corridors of Kuiseb schists which wrap around the brittle leucogranites. A recent 200 x 200m regional soil sampling campaign over prospective structures, and more targeted follow-ups, led to the discovery of this large gold-in-soil anomaly - see Figure 1.

Associated with a large step-over feature along the OFZ, the Nguni Gold anomaly is located roughly 17 km east of the Manga discovery and 55 km east of the Kokoseb Gold Deposit - see Figure 1. As it extends eastward, the OFZ displays an increasingly complex structural nature, characterized by a network of bifurcations, jogs, and splays all of which remains unexplored. Notably, the highly prospective 17 km stretch of the OFZ between the Manga and Nguni discoveries remains unexplored to date - see Figure 2. This corridor hosts several structural and geological analogues to other known deposits and prospects along the OFZ and is a high priority for future sampling.

Mineralization at Nguni is hosted within deformed metasediments of the Kuiseb Formation, bounded by late-to-syn-tectonic leucogranites - see Figure 2. The contacts of these brittle leucogranites appear to be more prospective than the older, foliated biotite granites (Salem). A thin layer of overburden currently limits geological mapping over the anomaly but further underscores the robustness of the Company's regional sampling approach.

Figure 2: Geological overview showing the gold-in-soil footprints of Manga and Nguni. The map delineates the structural corridors formed by metasediments (transparent) flanking various granitic intrusions (light and dark grey) and emphasizes the vast unexplored strike length both between the two discoveries and to the east of Nguni.

Nguni Gold Anomaly

Following the initial gold-in-soil discovery utilizing the Company's in-house detectORE™ system, Ongwe embarked on an infill sampling campaign on a 100 x 100m spacing with fire assay analysis conducted at MSALABS in Omaruru. Assays from this infill sampling confirmed the robustness of the Nguni anomaly, with individual samples peaking at 730ppb Au. Infill sampling on a 50 x 50m grid is currently ongoing. The total strike length of the anomaly is approximately 5km, however, it remains open-ended to the north, east and west.

Mineralization is hosted within the metasediments and follows the granitic contact with the highest grade, northwesterly portion of the anomaly wrapping around a granite dome. The mineralization appears to be continuous along this contact and is currently only truncated by the extent of the sampling - see Figure 3.

Towards the east, mineralization follows the granite contact and connects to a small outcrop known as "Gossan Hill" which consists of highly altered and iron-oxidized schist on the edge of a prominent magnetic anomaly to the east of the current sampling grid - see Figure 3.

Figure 3: Gold-in-soil geochemical map over the Nguni gold anomaly, highlighting sample distribution across a primary 100 x 100m grid with infill 50 x 50m spacing in the western zone. The spatial distribution indicates that gold mineralization is structurally and lithologically controlled along granitic contacts, remaining open-ended in multiple directions as indicated by the arrows.

Exploration Update

Ongwe Minerals has three gold flagship projects in Namibia and a dominant land position in the emerging and highly prospective Northwest Damara Gold Belt, comprising the following:

• The Omatjete Gold Project (151,800ha) which contains the Manga Prospect & Nguni Prospects, located along the Okondeka Fault Zone 35km and 55km along strike from the recently discovered Kokoseb gold deposit (WIA Gold), with a strike footprint of 4.5km and 5km respectively.
• The Khorixas Gold Project (154,000ha) which includes the Belmont Prospect, an orogenic gold system with a surface footprint of 12km x 6km and numerous high grade rock chips at surface.
• The Outjo Gold Project (46,000 ha) which is along strike from Osino's Eureka Gold Discovery and occupies a geological setting similar to that of the Eureka Discovery.
  

At the newly discovered Nguni gold anomaly, further infill sampling is underway to reduce sample spacing to a high-resolution 50 x 50m grid. This soil sampling program is being complemented by detailed geological mapping, though progress is partially hindered by a layer of alluvial scree overburden covering much of the prospect.

To further define structural controls, a detailed drone magnetic survey will shortly be conducted using our in-house drone. Additionally, land access is being finalized to extend exploration activities across the 17km unexplored corridor between the Manga and Nguni discoveries, as well as to the east of Nguni where the system remains open.

Bedrock sampling is currently being completed on the eastern extension of the Manga gold discovery and thereafter the drill rig will return to Belmont where several splay targets will be drilled and thereafter, bedrock sampling will commence on the Southern Shear targe at K17.

Assay Method

The Company initially utilized the detectORE™ analytical technique, designed to enable the measurement of trace gold concentrations in geological samples using a portable X-Ray Fluorescence (pXRF) instrument. This process overcomes the traditional limitations of gold analysis by pXRF including low gold concentrations and metal peak interference. The method involves leaching 250g of sieved material in a sealed pouch with 500ml of GLIX-20™ lixiviant and a Collector Device (CD). Following a 16-hour tumble in a Maxi Mixer barrel to dissolve the gold, the CD is removed, rinsed, and analyzed for 150 seconds using detectORE™ mode firmware. This partial analysis technique is managed through pLIMS™ software with strict QA/QC protocols to identify relative gold anomalism. An extensive orientation program was carried out before putting the detectORE™ methodology into production by comparing soil, calcrete and rock chip sample assays with Aqua Regia and FireICP. The detectORE™ system performed extremely well and identified the same anomalies as the laboratory techniques in all conditions. The detectORE™ gold technique is designed for rapid on-site assessment and is not used for the formal quantification of gold content or the estimation of Mineral Resources.

As part of the current exploration program, all soil samples undergo initial multi-element analysis utilizing the Company's in-house pXRF. All trace element anomalies, including base metal and arsenic anomalies are then analyzed through the Company's detectORE™ system. Any area returning a value equal to or greater than 10 detectable Units (dU) are prioritized for follow-up soil sampling. All follow-up soil samples are analyzed via Fire Assay at the MSALAB facility in Omaruru, Namibia. The fire assay procedure starts by drying the <212u and +-250g soil sample. The sample is then pulverized to 85% passing 75 microns, from which a final 50g aliquot is taken for fire assay with an Atomic Absorption (AA) finish.

QA/QC

All of Ongwe's sample assay results have been independently monitored through a quality assurance and quality control ("QA/QC") program including the insertion of blind standards, blanks, and field duplicate samples. The Company maintains rigorous monitoring for both in-house and laboratory analyses to ensure data reliability. For the detectORE™ process, which provides rapid on-site assessment of gold anomalism, a Certified Reference Material (CRM) sample is inserted every 15 samples to monitor the performance of the pXRF instrument and the leaching efficiency. For the formal fire assay verification conducted at MSALABS, a CRM is inserted every 30 samples. This laboratory procedure involves precise pulverization and a 50g fire assay with an Atomic Absorption (AA) finish to provide formal quantification for prioritized bedrock samples.

Data Verification

Carl Joone, BSc. (Hons), the President and Co-Founder of Ongwe Minerals Inc., and a Qualified Person for the purposes of National Instrument 43-101, has verified all the data disclosed, including a review of the sampling procedures, chain of custody, and assay results underlying the disclosure, by plotting and verifying against raw data received. Mr. Joone noted no errors or omissions during the data verification process.

Tenement Acquisition

On June 9, 2026, the Company, through its 51% subsidiary (Belmont Minerals Exploration (Pty) Ltd. entered into an amending agreement in respect of the purchase agreement to acquire a 90% interest in a license area comprised of 36,000 ha (the "License Area") adjacent to the Company's Omatjete Gold Project located in Namibia. Pursuant to the terms of the agreement, the Company will issue 175,000 shares to the seller, in addition to cash consideration of C$50,000 that has already been paid. Additionally, certain stepped milestone payments shall be payable by the Company to a maximum of C$4,000,000 payable in either cash or shares (subject to a minimum deemed share price of C$1.28), at the option of the Company, in the event that significant mineral resources are established on the License Area. The Company is not obligated to undertake an exploration program on the License Area.

RSU Issuance

The Company has approved the grant of up to an aggregate of 3,135,000 restricted share units (each, an "RSU") to certain key executives, officers, consultants and directors of the Company pursuant to the Company's Omnibus Plan, of which 1/2 of the RSUs will vest 12 months from the date of issuance, and then one-quarter each after 18 and 24 months. Each RSU represents the right to receive, once vested, one common share in the capital of the Company for every RSU held in accordance with the terms of the Omnibus Plan.

About Ongwe Minerals Inc.

Ongwe Minerals Inc. is a Canadian listed gold exploration company focused on the discovery and advancement of new gold systems in Namibia. The Ongwe team, previously with Osino Resources (sold to Shanjin International for CAD$368M), has a history of making and advancing gold discoveries in Namibia, including Osino's Twin Hills (currently in construction) and Eureka deposits, and the advancement and sale of Auryx Gold's Otjikoto gold deposit (in production, sold to B2Gold for CAD$180M).

The Company's current focus is on three promising gold projects in the emerging Northwest Damara gold belt in Namibia, with a focus on the Omatjete and Khorixas Gold Projects.

The Omatjete Gold Project is strategically located along the regional Okondeka Fault Zone, which also hosts the Kokoseb gold deposit (WIA Gold). Early surface work by Ongwe has led to the discovery of the Manga Gold Prospect which has a 4.5km x 1km footprint of gold in soil and early scout drilling indicating gold in bedrock. This area has significant growth potential and work is ongoing to define the strike extent of the Manga discovery along the Okondeka Fault Zone.

The Khorixas Gold Project is situated just 60km west of Osino's Eureka gold project, adjacent to the northern margin of the Damara Orogenic Belt. Khorixas hosts two large-scale surface discoveries called Belmont and K17. The Belmont prospect has a surface gold footprint of approximately 12 × 6km and lies between the regional scale, basin margin, Khorixas Fault and the Belmont Thrust Zone. Calcrete and grab sampling to date have indicated eighteen target areas.

Qualified Person

Carl Joone, BSc. (Hons) is the President and Co-Founder of Ongwe Minerals Inc. and is a registered Professional Natural Scientist with the South African Council for Natural Scientific Professions (Pr. Sci. Nat. No. 172695) and a Qualified Person for the purposes of National Instrument 43-101. Mr. Joone has reviewed and approved the scientific and technical information in this news release.

ON BEHALF OF THE BOARD OF DIRECTORS
"Dave Underwood"
Chief Executive Officer

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

Cautionary Statements Regarding Forward Looking Information

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the use of proceeds from the Company's future plans or prospects of the Company, including prospects for discovery of mineral resources or the results of future exploration programs. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Other factors which could materially affect such forward-looking information are described in the risk factors in the Company's most recent annual management's discussion and analysis which is available on the Company's profile on SEDAR+ at www.sedarplus.ca. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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