AuKing Mining Completes A$4.85 Million Malawi Acquisition as Machinga Heavy Rare Earth Potential Faces Testing

Highlights

• AuKing Mining completed its A$4.85 million acquisition of Green Exploration Limited from Tusker Minerals on October 13, gaining four Malawi projects.
• Historical drilling at Machinga returned 1.01% total rare earth oxides with heavy rare earth enrichment near 29% of TREO, but results remain independently unvalidated.
• Tusker receives immediate cash and shares but retains no development obligation, leaving AuKing to fund all future exploration and capital requirements.
• Commercial viability depends on verified resources, element-specific recovery data, and processing economics for dysprosium and terbium content.
• The critical next milestones are independently validated drilling, a compliant resource estimate, and full metallurgical testing.