PERTH, Australia, Oct. 16, 2026 -- Lindian Resources Limited (ASX: LIN) ("Lindian") is pleased to provide an update on construction, mining activities and commissioning readiness at its Kangankunde Rare Earths Project in Malawi, as construction advances towards commissioning and first monazite concentrate production in December 2026. With key processing equipment installed, electrical works progressing and ore inventories growing, the Project remains on schedule for first production.

Kangankunde Process Plant

The full ASX announcement is available at: https://asx.api.cmfyapp.com/asx-research/1.0/file/2924-03149014-6A1349511&v=undefined

Highlights

  • First monazite concentrate on target for December 2026, with construction and operational readiness activities advancing towards commissioning.
  • Ore stockpiles increased to approximately 149,000 tonnes*, up approximately 24,000 tonnes, or 19%, from September 2026.
  • Key power milestones achieved, with the 33kV overhead line commissioned to the transformer yard and both 1,250 kVA plant transformers returned to site following successful factory acceptance testing. Site energisation is targeted for the first week of November 2026.
  • Separation circuits taking shape, with structural steel in the WHIMS and MGS areas approximately 90% complete and shaking tables approximately 80% complete. Installation of the regrind mill is complete.
  • Transition to operations under way, with initial operating personnel on board, operator training commenced and outbound concentrate logistics contracts nearing finalisation.

Lindian's Executive Director, Zac Komur, commented: "Kangankunde is in the final stretch of construction. Our target is clear: first monazite concentrate in December. The plant is taking shape, ore stockpiles are growing and our focus is on completing the remaining work and commissioning safely. Every milestone brings us closer to becoming a rare earths producer."

* The ore stockpile tonnage is derived from the existing Ore Reserve estimates.

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