MKA Mkango Resources Ltd

Mkango Resources Ltd. (TSX VENTURE:MKA) (the "Company" or "Mkango") has been
advised today that its principal shareholder, Leo Mining and Exploration Limited
("Leominex"), which owns approximately 48% of Mkango's issued and outstanding
shares, had entered into a non-binding term sheet in respect of its acquisition
(the "Transaction") by Forte Energy NL ("Forte"), an Australian company listed
on the AIM Market of the London Stock Exchange and on the Australian Stock
Exchange. The acquisition of Leominex, if completed, will result in a new
control person of the Company under the rules of the TSX Venture Exchange and,
as such, will require disinterested shareholder approval. 


The Board of Directors of the Company has established a special committee of the
board, consisting of the three independent directors of the Company who are not
shareholders of Leominex, with a mandate to, among other things, consider
whether to recommend that shareholders of Mkango approve the change of control
of Leominex as a result of the Transaction and to negotiate a relationship
agreement with Leominex and Forte to protect the interests of Mkango's
shareholders. 


Mkango Resources Ltd. 

Mkango's primary business is the exploration for rare earth elements and
associated minerals in the Republic of Malawi. It holds, through its wholly
owned subsidiary Lancaster Exploration Limited, a 100% interest in two exclusive
prospecting licenses covering a combined area of 1,751 km2 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 Company'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 Company
and the Transaction. 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
failure of the Transaction to be consummated in a suitable timeframe or on terms
acceptable to the parties; regulatory risks; 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 Company 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 Company
undertakes no obligation to comment on the expectations of, or statements made,
by third parties in respect of the matters discussed above.


The TSX Venture Exchange has neither approved nor disapproved the contents of
this press release. 


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. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Mkango Resources Ltd.
Ashlee Utterback
Corporate Communications Manager
Office: +1 (403) 444 - 5979
ashlee@mkango.ca


Mkango Resources Ltd.
William Dawes
Chief Executive Officer
will@mkango.ca


Mkango Resources Ltd.
Alexander Lemon
President
alex@mkango.ca
www.mkango.ca

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