Mkango Resources Announces Results of Annual General and Special Meeting of Shareholders

CALGARY, ALBERTA--(Marketwired - Nov. 19, 2015) - Mkango Resources Ltd. (TSX VENTURE:MKA) (the "Corporation" or "Mkango") is pleased to announce the results of its annual general and special meeting of shareholders held today (the "Meeting"). All business put forth at the Meeting was approved by the shareholders of the Corporation, including:

• re-election of Derek Linfield, William Dawes, Alexander Lemon, David Berg, Eugene Chen and Adrian Reynolds as Directors of the Corporation;
  
  
• re-appointment of Meyers Norris Penny LLP as auditors of the Corporation;
  
  
• approval of the stock option plan of the Corporation in accordance with the policies of the TSX Venture Exchange;
  
  
• approval of amendments to the By-Laws of the Corporation in order to comply with the AIM Rules for Companies (as published by the London Stock Exchange PLC, as amended from time to time); and
  
  
• approval, by special resolution, of an amendment to the Corporation's articles to consolidate all of the issued and outstanding common shares of Mkango on the basis of one (1) post-consolidation common share for every ten (10) pre-consolidation common shares then issued and outstanding, or such lesser number of pre-consolidation common shares as may be determined by the Board of Directors of the Corporation and accepted by the TSX Venture Exchange (the "Consolidation").
  
  

The Board of Directors of the Corporation is considering the Consolidation and will issue a further press release once the Consolidation ratio has been definitively determined and the decision is made to effect the Consolidation. As mentioned, the Consolidation remains subject to the approval of the TSX Venture Exchange.

See the Corporation's Management Information Circular Dated October 16, 2015 for further information about the business contemplated by the shareholders at the Meeting.

About Mkango Resources Ltd.

Mkango's primary business is the exploration for rare earth elements and associated minerals in the Republic of Malawi, a country whose hospitable people have earned it a reputation as "the warm heart of Africa". Mkango holds, through its wholly owned subsidiary Lancaster Exploration Limited, a 100% interest in two exclusive prospecting licenses in southern Malawi. The main exploration target is the Songwe Hill rare earth deposit, which features carbonatite hosted rare earth mineralisation and was subject to previous exploration in the late 1980s.

The Corporation's corporate strategy is to further develop the Songwe Hill rare earth deposit and secure additional rare earth element and other mineral opportunities in Malawi and elsewhere in Africa.

On behalf of the Board of Mkango Resources Ltd.,

William Dawes, Chief Executive Officer

Cautionary Note Regarding Forward-Looking Statements

This news release may contain forward-looking statements relating to the Corporation. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. Such factors and risks include, among others, the interpretation and actual results of current exploration activities; uncertainty of estimates of mineral resources, changes in project parameters as plans continue to be refined; future commodity prices; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of exploration.

The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, the Corporation disclaims any intention and assume no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities law. Additionally, the Corporation undertakes no obligation to comment on the expectations of, or statements made, by third parties in respect of the matters discussed above.

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 release.