Calgary, Alberta: August 31, 2016 - Mkango Resources Ltd. (TSXV: MKA; AIM: MKA) (the "Company" or "Mkango"), is pleased to announce that it has released the Financial Statements and Management's Discussion and Analysis for the period ending June 30,2016. The reports are now available on the Company's website via the following link: http://www.mkango.ca/s/financials.asp, and will also be made available under the Company's profile on SEDAR.

William Dawes, Chief Executive of Mkango, stated:

"Mkango is pleased to release its quarterly results for the period ending June 30, 2016, the first since its IPO on AIM on June 15, 2016. Its expenditure remains within budget, which provided for 18 months' working capital from the IPO date."

"The Company believes that prices for rare earths and uranium are at a cyclical low, with a positive outlook geared to growth in cleantech applications, technology and the low carbon economy."

"We continue to explore partnership opportunities for both the Songwe and Thambani projects with a view to accelerating exploration and development of the projects for the benefit of all stakeholders."

For further information, please contact:

Mkango Resources Limited

William Dawes
Chief Executive Officer

will@mkango.ca
UK: +44 207 3722 744
Canada: +1 403 444 5979

Alexander Lemon
President
alex@mkango.ca

SP Angel Corporate Finance LLP
Nominated Adviser and Broker
Jeff Keating , Caroline Rowe
UK: +44 20 3470 0470

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.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any equity or other securities of the Corporation in the United States. The securities of the Corporation will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold within the United States to, or for the account or benefit of, U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act.