VANCOUVER, British Columbia, July 27, 2026 (GLOBE NEWSWIRE) -- Ongwe Minerals Inc. ("Ongwe" or "the Company") (TSXV: OGW) (NSX: ONG) is pleased to announce that it has voluntarily filed a technical report prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") for the Omatjete Gold Project located in Namibia.
The technical report, titled "NI 43-101 Technical Report on the Omatjete Gold Project, Namibia", has an effective date of May 31, 2026 and a report date of June 30, 2026 (the "Technical Report"). The Technical Report was prepared for the Company by The MSA Group (Pty) Ltd., authored by Michael J. Robertson, Pr.Sci.Nat (400005/92); MAusIMM (316078).
Ongwe's CEO, Dave Underwood, states "The Omatjete Project has recently become the flagship project for the Company since the regional sampling program outlined the large scale, high grade, gold in soil anomaly, now known as the Nguni target. Nguni is a totally greenfields discovery and there are no known gold occurrences in the area, highlighting once again how under explored the Damara Belt in Namibia is. We look forward to kicking off the maiden diamond drill program at Nguni in August, 2026."
The Technical Report has been voluntarily filed under the Company's profile on SEDAR+ at www.sedarplus.ca and has not been filed in connection with a material change or a short-form prospectus.
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 the promising Omatjete and Khorixas Gold Projects in the emerging Northwest Damara gold belt.
The Omatjete Gold Project is strategically located along the regional Okondeka Fault Zone, which also hosts the Kokoseb gold deposit (WIA Gold). Early exploration work by Ongwe has led to the discovery of a) the Manga Gold Prospect, which has a 4.5km x 1km footprint of gold in soil and early scout drilling indicating gold in bedrock and b) the Nguni Gold Prospect, which has a 5km long gold in soil footprint with values up to 1.3g/t and open to the west, north and east. The company has tied up 50km of strike length along this prospective fault zone and regional sampling is ongoing to locate further anomalous gold.
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. The K17 prospect is a surface discovery of copper - gold mineralization in soil and rock chip samples approximately 12km2 in area. This mineralization is believed to be intrusion related and planning is currently underway for a geophysical program in H2 2026 to define the subsurface mineralization and develop drill targets.
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
| CONTACT INFORMATION | |
| Ongwe Minerals Inc. Dave Underwood, Chief Executive Officer Email: dave@ongweminerals.com (604) 687-2038 | Ongwe Minerals Inc. Carl Joone, President & Co-Founder Email: carl@ongweminerals.com (604) 687-2038 |
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 financings, the Company's future plans or prospects of the Company, including prospects for discovery of mineral resources and 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.
