Namibia Rare Earths Agrees to Acquire Portfolio of Critical Metal Properties in Namibia

Namibia Rare Earths (“Namibia Rare Earths” or the “Company”) (TSXV:NRE) today announced it has entered into an agreement (“Agreement”) to acquire a portfolio of critical metal properties (the “Properties”) from Gecko Namibia (“Gecko Namibia”) in consideration for the issuance of 64,000,000 common shares of Namibia Rare Earths (“Property Acquisition”).

In conjunction with the acquisition, Gecko Namibia and Gerald J. McConnell, Chair of the Board of Namibia Rare Earths, have each agreed to complete a private placement with the Company in the amount of $250,000 at $0.05 per share for total gross proceeds to the Company of $500,000 (“Private Placement”). A total of 10,000,000 common shares of 2 Namibia Rare Earths will be issued pursuant to the Private Placement.

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