Ongwe Minerals Commences Drill Program on Its Gold Exploration Projects in Namibia

Executive Summary

• Ongwe Minerals completed its reverse‑takeover and began trading on the TSXV under ticker “OGW”.
• The company mobilized an RC drill rig to start a ~6,000 m bedrock sampling campaign at the Belmont Gold Prospect (Khorixas) with a follow‑on program planned for the Manga Prospect (Omatjete).
• A 2026 work program includes 6,000 m of RC drilling, extensive regional soil sampling (~10,000 samples), and expansion of technical staff to support accelerated exploration activity.

Key Details

• RTO & Listing: Completed; trading commenced on TSXV as “OGW”.
• Bedrock Sampling Campaign:
• Total planned RC drilling ≈ 6,000 m (4,000 m Belmont, 2,000 m Manga).
• Line spacing 200 m; hole spacing 25 m; depths 3–15 m (avg. ~7 m).
• Two samples per hole – one above the transition zone, one in bedrock.
• Belmont Prospect:
• Surface footprint 12 × 6 km; 18 targets identified via calcrete/soil work.
• Historic scout drill intercept: 6 m @ 6.85 g/t Au from 20 m depth.
• Bedrock sampling aims to test ≥10 target zones and generate walk‑up drill targets for H2 2026.
• Manga Prospect:
• Adjacent to WIA Gold’s 2.9 Moz Kokoseb deposit; surface gold anomaly >4 km long.
• Prior RC program (Oct 2024) – 1,800 m drilled, all holes intersected sulphide/gold; notable intercepts: 138 m @ 0.22 g/t Au and 18 m @ 0.5 g/t Au; assay up to 19.75 g/t Au from rock‑chip samples.
• Regional Soil Sampling: ~10,000 soil samples planned across three project areas (Khorixas, Omatjete, plus additional land), line/sample spacing 200 m, to test strike extent of Okondeka Fault Zone and identify new greenfield targets.
• Technical & Corporate Expansion: Additional geologists, field staff, and a financial manager hired to support increased sampling, analysis, and data flow.
• Future Plans: Bedrock results will feed into an extensive diamond drill program slated for the second half of 2026.

Notable Quotes

“Now that the RTO has been completed and Ongwe has commenced trading on the TSXV, we have commenced our much‑anticipated bedrock sampling program at the Belmont Prospect… We are equally excited about the large‑scale regional soil sampling program that has kicked off at Omatjete…” – David Underwood, CEO

Materiality Assessment: Non-Material – Neutral (operational update without disclosed financial results or material resource estimates).