{"success":true,"data":{"pressRelease":{"id":"131558","rtpr_id":"nACSQ5Z9Sa","ticker":"NMI","exchange":"","all_tickers":["NMI"],"title":"Namibia Critical Metals Provides Update on Lofdal Joint Venture Transaction","author":"ACCESSWIRE","published_at":"2026-08-31T20:15:00.431Z","article_body":"HALIFAX, NS / ACCESS Newswire (https://www.accessnewswire.com/) / August 31,\n2026 / Namibia Critical Metals Inc. (\"Namibia Critical Metals\" or the\n\"Company\" or \"NCMI\") (TSXV:NMI)(OTCQB:NMREF) provides the following update\nregarding the previously announced transaction relating to the Lofdal Heavy\nRare Earth Project (\"Lofdal\" or the \"Project\"), as disclosed in the Company's\nnews release dated July 30, 2026.\n\nThe Company continues to work with its joint venture partners, Japan\nOrganization for Metals and Energy Security (\"JOGMEC\") and Toyota Tsusho\nCorporation (\"Toyota Tsusho\"), to complete the remaining conditions required\nto implement the transaction, including obtaining the required shareholder\nconsent and regulatory approvals, including final approval of the TSX Venture\nExchange.\n\nThe Company is actively progressing these matters and expects to provide a\nfurther update upon receipt of the required approvals.\n\nAbout Namibia Critical Metals Inc.\n\nNamibia Critical Metals Inc. is developing the Lofdal Heavy Rare Earth Project\nin Namibia, one of the few advanced heavy rare earth projects globally and\namong the largest known undeveloped sources of dysprosium, terbium and\nyttrium. The fully permitted project is being advanced through a strategic\npartnership with JOGMEC and Toyota Tsusho to establish secure, diversified\nsupply chains for critical rare earth materials required for electric\nvehicles, renewable energy and advanced defense technologies.\n\nAbout Toyota Tsusho Corporation\n\nToyota Tsusho Corporation is the trading and business development arm of the\nToyota Group and one of Japan's leading global trading houses. The company\noperates across a wide range of sectors including metals, energy, chemicals,\nmobility, and advanced materials. Toyota Tsusho plays a significant role in\nbuilding global supply chains for critical minerals and materials used in\nautomotive electrification, renewable energy systems and advanced\nmanufacturing.\n\nAbout Japan Organization for Metals and Energy Security (JOGMEC) and the\nJOGMEC Agreement\n\nJOGMEC is a Japanese government independent administrative agency which seeks\nto secure stable resource supplies for Japan. JOGMEC has a strong reputation\nas a long term, strategic partner in mineral projects globally. JOGMEC\nfacilitates opportunities with Japanese private companies to secure supplies\nof natural resources for the benefit of the country's economic development.\n\nRare earth elements are of critical importance to Japanese industrial\ninterests and JOGMEC has extensive experience with all aspects of the sector.\nJOGMEC provided Lynas with USD$250,000,000 in loans and equity in 2011 to\nensure supplies of the Light Rare Earths metals suite to the Japanese industry\nand invested a further USD$134 million in 2023.\n\nNamibia Critical Metals owns a 95% interest in the Lofdal project with the\nremaining 5% held for the benefit of Historically Disadvantaged Namibians. The\nterms of the JOGMEC agreement with the Company stipulate that JOGMEC provides\nC$3,000,000 in Term 1 and C$7,000,000 in Term 2 to earn a 40% interest in the\nLofdal project. Term 3 calls for a further C$13,000,000 of expenditures to\nearn an additional 10% interest. JOGMEC can also purchase another 1% for\nC$5,000,000 and has first right of refusal to fully fund the project through\nto commercial production and to purchase all production at market prices. The\ninterest of NMI cannot be diluted below 21% provided NCMI pays to JOGMEC $5\nmillion for the dilution protection and historically the disadvantaged\nNamibian entity shareholder cannot be diluted below a 5% carried working\ninterest as a condition of the mining license. NMI may also elect to\nparticipate up to a maximum of 44% or 45% as the case may be by funding pro\nrata after a Final Investment Decision (FID). In the event that NMI defaults\non its funding commitments it is subject to an accelerated dilution penalty.\nIf under this scenario NMI is diluted below 10% the interest is converted to a\n1% NSR.\n\nTo date, JOGMEC and TTC have completed Term 3 and earned a 50% interest by\nreaching the C$23 million expenditure requirement.\n\nNeither the TSX Venture Exchange nor its Regulation Services Provider (as that\nterm is defined in the policies of the TSX Venture Exchange) accepts\nresponsibility for the adequacy or accuracy of this release.\n\nFor further information, please contact:\n\n Namibia Critical Metals Inc.               Renmark Financial Communications Inc.           \n Darrin Campbell, President                 Preston Conable: pconable@renmarkfinancial.com  \n Tel: +01 (902) 835-8760                    Tel.: (416) 644-2020 or (212) 812-7680          \n Email: Info@NamibiaCMI.com                 www.renmarkfinancial.com                        \n Web site: www.NamibiaCriticalMetals.com                                                    \n\nThis news release contains certain \"forward-looking information\" within the\nmeaning of applicable securities laws. Forward looking information is\nfrequently characterized by words such as \"plan\", \"expect\", \"project\",\n\"intend\", \"believe\", \"anticipate\", \"estimate\", \"may\", \"will\", \"would\",\n\"potential\", \"proposed\" and other similar words, or statements that certain\nevents or conditions \"may\" or \"will\" occur. The Forward-Looking Statements in\nthis news release relate to, among other things; the estimation of Mineral\nResources and Mineral Reserves and the realization of such mineral estimates;\nthe statements and other results of the PFS discussed in this news release,\nincluding, without limitation, project economics, financial and operational\nparameters such as expected throughput, production, processing methods, cash\ncosts, operating costs, other costs, capital expenditures, cash flow, NPV,\nIRR, payback period, life of mine and REE price forecasts. These statements\nare only predictions. Forward-looking information is based on the opinions and\nestimates of management and the QP's at the date the information is provided,\nand is subject to a variety of risks and uncertainties and other factors that\ncould cause actual events or results to differ materially from those projected\nin the forward-looking information. For a description of the risks and\nuncertainties facing the Company and its business and affairs, readers should\nrefer to the Company's Management's Discussion and Analysis. The Company\nundertakes no obligation to update forward-looking information if\ncircumstances or management's estimates or opinions should change, unless\nrequired by law. The reader is cautioned not to place undue reliance on\nforward-looking information.\n\nSOURCE: Namibia Critical Metals Inc.\nView the original press release\n(https://www.accessnewswire.com/newsroom/en/metals-and-mining/namibia-critical-metals-provides-update-on-lofdal-joint-venture-transaction-1214702)\non ACCESS Newswire\n\n\nCopyright 2026 ACCESS Newswire. All Rights Reserved.","article_body_html":"","raw_payload":{"data":{"id":"nACSQ5Z9Sa","title":"Namibia Critical Metals Provides Update on Lofdal Joint Venture Transaction","author":"ACCESSWIRE","ticker":"NMI","created":"2026-08-31T20:15:00.431Z","tickers":["NMI"],"exchange":"","article_body":"HALIFAX, NS / ACCESS Newswire (https://www.accessnewswire.com/) / August 31,\n2026 / Namibia Critical Metals Inc. (\"Namibia Critical Metals\" or the\n\"Company\" or \"NCMI\") (TSXV:NMI)(OTCQB:NMREF) provides the following update\nregarding the previously announced transaction relating to the Lofdal Heavy\nRare Earth Project (\"Lofdal\" or the \"Project\"), as disclosed in the Company's\nnews release dated July 30, 2026.\n\nThe Company continues to work with its joint venture partners, Japan\nOrganization for Metals and Energy Security (\"JOGMEC\") and Toyota Tsusho\nCorporation (\"Toyota Tsusho\"), to complete the remaining conditions required\nto implement the transaction, including obtaining the required shareholder\nconsent and regulatory approvals, including final approval of the TSX Venture\nExchange.\n\nThe Company is actively progressing these matters and expects to provide a\nfurther update upon receipt of the required approvals.\n\nAbout Namibia Critical Metals Inc.\n\nNamibia Critical Metals Inc. is developing the Lofdal Heavy Rare Earth Project\nin Namibia, one of the few advanced heavy rare earth projects globally and\namong the largest known undeveloped sources of dysprosium, terbium and\nyttrium. The fully permitted project is being advanced through a strategic\npartnership with JOGMEC and Toyota Tsusho to establish secure, diversified\nsupply chains for critical rare earth materials required for electric\nvehicles, renewable energy and advanced defense technologies.\n\nAbout Toyota Tsusho Corporation\n\nToyota Tsusho Corporation is the trading and business development arm of the\nToyota Group and one of Japan's leading global trading houses. The company\noperates across a wide range of sectors including metals, energy, chemicals,\nmobility, and advanced materials. Toyota Tsusho plays a significant role in\nbuilding global supply chains for critical minerals and materials used in\nautomotive electrification, renewable energy systems and advanced\nmanufacturing.\n\nAbout Japan Organization for Metals and Energy Security (JOGMEC) and the\nJOGMEC Agreement\n\nJOGMEC is a Japanese government independent administrative agency which seeks\nto secure stable resource supplies for Japan. JOGMEC has a strong reputation\nas a long term, strategic partner in mineral projects globally. JOGMEC\nfacilitates opportunities with Japanese private companies to secure supplies\nof natural resources for the benefit of the country's economic development.\n\nRare earth elements are of critical importance to Japanese industrial\ninterests and JOGMEC has extensive experience with all aspects of the sector.\nJOGMEC provided Lynas with USD$250,000,000 in loans and equity in 2011 to\nensure supplies of the Light Rare Earths metals suite to the Japanese industry\nand invested a further USD$134 million in 2023.\n\nNamibia Critical Metals owns a 95% interest in the Lofdal project with the\nremaining 5% held for the benefit of Historically Disadvantaged Namibians. The\nterms of the JOGMEC agreement with the Company stipulate that JOGMEC provides\nC$3,000,000 in Term 1 and C$7,000,000 in Term 2 to earn a 40% interest in the\nLofdal project. Term 3 calls for a further C$13,000,000 of expenditures to\nearn an additional 10% interest. JOGMEC can also purchase another 1% for\nC$5,000,000 and has first right of refusal to fully fund the project through\nto commercial production and to purchase all production at market prices. The\ninterest of NMI cannot be diluted below 21% provided NCMI pays to JOGMEC $5\nmillion for the dilution protection and historically the disadvantaged\nNamibian entity shareholder cannot be diluted below a 5% carried working\ninterest as a condition of the mining license. NMI may also elect to\nparticipate up to a maximum of 44% or 45% as the case may be by funding pro\nrata after a Final Investment Decision (FID). In the event that NMI defaults\non its funding commitments it is subject to an accelerated dilution penalty.\nIf under this scenario NMI is diluted below 10% the interest is converted to a\n1% NSR.\n\nTo date, JOGMEC and TTC have completed Term 3 and earned a 50% interest by\nreaching the C$23 million expenditure requirement.\n\nNeither the TSX Venture Exchange nor its Regulation Services Provider (as that\nterm is defined in the policies of the TSX Venture Exchange) accepts\nresponsibility for the adequacy or accuracy of this release.\n\nFor further information, please contact:\n\n Namibia Critical Metals Inc.               Renmark Financial Communications Inc.           \n Darrin Campbell, President                 Preston Conable: pconable@renmarkfinancial.com  \n Tel: +01 (902) 835-8760                    Tel.: (416) 644-2020 or (212) 812-7680          \n Email: Info@NamibiaCMI.com                 www.renmarkfinancial.com                        \n Web site: www.NamibiaCriticalMetals.com                                                    \n\nThis news release contains certain \"forward-looking information\" within the\nmeaning of applicable securities laws. Forward looking information is\nfrequently characterized by words such as \"plan\", \"expect\", \"project\",\n\"intend\", \"believe\", \"anticipate\", \"estimate\", \"may\", \"will\", \"would\",\n\"potential\", \"proposed\" and other similar words, or statements that certain\nevents or conditions \"may\" or \"will\" occur. The Forward-Looking Statements in\nthis news release relate to, among other things; the estimation of Mineral\nResources and Mineral Reserves and the realization of such mineral estimates;\nthe statements and other results of the PFS discussed in this news release,\nincluding, without limitation, project economics, financial and operational\nparameters such as expected throughput, production, processing methods, cash\ncosts, operating costs, other costs, capital expenditures, cash flow, NPV,\nIRR, payback period, life of mine and REE price forecasts. These statements\nare only predictions. Forward-looking information is based on the opinions and\nestimates of management and the QP's at the date the information is provided,\nand is subject to a variety of risks and uncertainties and other factors that\ncould cause actual events or results to differ materially from those projected\nin the forward-looking information. For a description of the risks and\nuncertainties facing the Company and its business and affairs, readers should\nrefer to the Company's Management's Discussion and Analysis. The Company\nundertakes no obligation to update forward-looking information if\ncircumstances or management's estimates or opinions should change, unless\nrequired by law. The reader is cautioned not to place undue reliance on\nforward-looking information.\n\nSOURCE: Namibia Critical Metals Inc.\nView the original press release\n(https://www.accessnewswire.com/newsroom/en/metals-and-mining/namibia-critical-metals-provides-update-on-lofdal-joint-venture-transaction-1214702)\non ACCESS Newswire\n\n\nCopyright 2026 ACCESS Newswire. All Rights Reserved."},"type":"article","timestamp":"2026-08-31T20:15:00.494644605Z","server_sent_at_ms":1788207300494},"received_at":"2026-08-31T20:15:00.561Z","source_url":"https://www.accessnewswire.com/newsroom/en/metals-and-mining/namibia-critical-metals-provides-update-on-lofdal-joint-venture-transaction-1214702"},"analysis":{"id":"120470","press_release_id":"131558","analysis_json":{"industry":{"label":"Metals & Mining","sector":"Materials"},"redFlags":[],"eventType":"operations_update","narrative":"Namibia Critical Metals continues to work with partners JOGMEC and Toyota Tsusho to satisfy remaining conditions for the Lofdal Joint Venture, specifically shareholder consent and TSX Venture Exchange approval.\n\nThe companies have completed the required expenditures totaling C$23 million, allowing JOGMEC and Toyota Tsusho to earn a combined 50% interest in the heavy rare earth project.\n\nThe Lofdal project targets critical minerals like dysprosium and terbium, essential for electric vehicles and defense technologies.","sentiment":"neutral","agentHooks":{"shouldPost":false,"suggestedAngle":"Administrative status update: NMI awaits final regulatory nods for Lofdal JV."},"keyFigures":{"customDimensions":{"term1_spend_cad":3000000,"term2_spend_cad":7000000,"term3_spend_cad":13000000,"total_spend_to_date_cad":23000000,"jogmec_lynas_loan_2011_usd":250000000,"dilution_protection_cost_usd":5000000,"option_1_percent_purchase_cad":5000000,"jogmec_lynas_investment_2023_usd":134000000}},"quotedText":"","namedEntities":{"people":[{"name":"Darrin Campbell","role":"President"},{"name":"Preston Conable","role":"Contact"}],"products":["Lofdal Heavy Rare Earth Project","dysprosium","terbium","yttrium"],"companies":[{"name":"Namibia Critical Metals Inc.","ticker":"NMI"},{"name":"Japan Organization for Metals and Energy Security","relationship":"joint venture partner"},{"name":"Toyota Tsusho Corporation","relationship":"joint venture partner"},{"name":"Lynas","relationship":"mentioned (JOGMEC portfolio)"},{"name":"Renmark Financial Communications Inc.","relationship":"investor relations"},{"name":"TSX Venture Exchange","relationship":"regulatory body"}],"dollarAmounts":[{"amount":"C$3,000,000","context":"JOGMEC Term 1 expenditure"},{"amount":"C$7,000,000","context":"JOGMEC Term 2 expenditure"},{"amount":"C$13,000,000","context":"JOGMEC Term 3 expenditure"},{"amount":"C$23,000,000","context":"Total JOGMEC/Toyota Tsusho expenditure to date"},{"amount":"C$5,000,000","context":"Cost for JOGMEC to purchase additional 1% interest"},{"amount":"$5 million","context":"Cost for NMI to pay JOGMEC for dilution protection"},{"amount":"USD$250,000,000","context":"JOGMEC loan to Lynas in 2011"},{"amount":"USD$134 million","context":"JOGMEC investment in Lynas in 2023"}]},"materialImpact":{"score":1,"reasoning":"Routine status update confirming ongoing administrative work (shareholder consent and TSXV approval) for a previously announced JV transaction. While the JV terms are material, this specific release contains no new financial closures or operational milestones."},"tickerRelevance":{"others":[],"primary":"NMI"},"globalImportance":15,"audienceRelevance":15,"eventTypeSecondary":[],"importanceComponents":{"tickerTier":"small-cap","eventGravity":"status-update","sectorWeight":"critical-materials"}},"event_type":"operations_update","event_type_secondary":null,"sentiment":"neutral","material_impact_score":1,"narrative":"Namibia Critical Metals continues to work with partners JOGMEC and Toyota Tsusho to satisfy remaining conditions for the Lofdal Joint Venture, specifically shareholder consent and TSX Venture Exchange approval.\n\nThe companies have completed the required expenditures totaling C$23 million, allowing JOGMEC and Toyota Tsusho to earn a combined 50% interest in the heavy rare earth project.\n\nThe Lofdal project targets critical minerals like dysprosium and terbium, essential for electric vehicles and defense technologies.","key_figures":{"customDimensions":{"term1_spend_cad":3000000,"term2_spend_cad":7000000,"term3_spend_cad":13000000,"total_spend_to_date_cad":23000000,"jogmec_lynas_loan_2011_usd":250000000,"dilution_protection_cost_usd":5000000,"option_1_percent_purchase_cad":5000000,"jogmec_lynas_investment_2023_usd":134000000}},"named_entities":{"people":[{"name":"Darrin Campbell","role":"President"},{"name":"Preston Conable","role":"Contact"}],"products":["Lofdal Heavy Rare Earth Project","dysprosium","terbium","yttrium"],"companies":[{"name":"Namibia Critical Metals Inc.","ticker":"NMI"},{"name":"Japan Organization for Metals and Energy Security","relationship":"joint venture partner"},{"name":"Toyota Tsusho Corporation","relationship":"joint venture partner"},{"name":"Lynas","relationship":"mentioned (JOGMEC portfolio)"},{"name":"Renmark Financial Communications Inc.","relationship":"investor relations"},{"name":"TSX Venture Exchange","relationship":"regulatory body"}],"dollarAmounts":[{"amount":"C$3,000,000","context":"JOGMEC Term 1 expenditure"},{"amount":"C$7,000,000","context":"JOGMEC Term 2 expenditure"},{"amount":"C$13,000,000","context":"JOGMEC Term 3 expenditure"},{"amount":"C$23,000,000","context":"Total JOGMEC/Toyota Tsusho expenditure to date"},{"amount":"C$5,000,000","context":"Cost for JOGMEC to purchase additional 1% interest"},{"amount":"$5 million","context":"Cost for NMI to pay JOGMEC for dilution protection"},{"amount":"USD$250,000,000","context":"JOGMEC loan to Lynas in 2011"},{"amount":"USD$134 million","context":"JOGMEC investment in Lynas in 2023"}]},"model_name":"glm-4.7","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-08-31T20:50:52.686Z","global_importance":15,"audience_relevance":15,"importance_components":{"tickerTier":"small-cap","eventGravity":"status-update","sectorWeight":"critical-materials"}},"durationMs":236935,"modelName":"glm-4.7"}}