Forward Looking Information and Qualified Person

This website contains forward-looking statements that relate to the Company’s current expectations and views of future events. In some cases, these forward-looking statements can be identified by words or phrases such as “may”, “will”, “expect”, “anticipate”, “aim”, “estimate”, “intend”, “plan”, “seek”, “believe”, “potential”, “continue”, “is/are likely to” or the negative of these terms, or other similar expressions intended to identify forward-looking statements.  The Company has based these forward-looking statements on its current expectations and projections about future events and financial trends that it believes may affect its financial condition, results of operations, business strategy and financial needs.  These forward-looking statements include, among other things, statements relating to (i) the Company’s strategy, growth, development and acquisition opportunities, return on existing assets, operational excellence and financial management; (ii) the Company’s expectations regarding its revenue, expenses and operations; (iii) the Company’s anticipated cash needs and its estimates regarding its capital and operating expenditures; (iv) capital requirements, needs for additional financing and the Company’s ability to raise additional capital; (v) the Company’s estimates of future cash flows, financial condition and operating performances of the Company and its subsidiaries; (vi) the estimation of any mineral resources and the realization of mineral reserves based on mineral resource, estimates and estimated future development, if any, and possible variations of ore grade or recovery rates; (vii) estimated results of planned exploration and development activities; (viii) the Company’s competitive position and its expectations regarding competition from other companies globally; (ix) the Company’s ability to maintain customer and supplier relationships; (x) anticipated trends and challenges in the Company’s business and the markets in which it operates, including with respect to potential new rare earths projects, supply outlook and growth opportunities; (xi) limitations of insurance coverage; (xii) the future price of and future demand for rare earths elements and their derivative products; (xiii) economic and financial conditions; (xiv) interest rates and foreign exchange rates; (xv) performance of counterparties in fulfilling their obligations; (xvi) government regulation of mining operations, accidents, environmental risks, exploration risks, reclamation and rehabilitation expenses; (xvii) title disputes or claims; and (xviii) the timing and possible outcome of pending regulatory and permitting matters.

Forward-looking statements are based on certain assumptions and analyses made by the Company in light of its experience and perception of historical trends, current conditions and expected future developments and other factors it believes are appropriate.  These assumptions include continued political stability in Namibia, that permits required for the Company’s operations will be obtained in a timely basis in order to permit the Company to proceed on schedule with its planned drilling programs, that skilled personnel and contractors will be available as the Company’s operations continue to grow, that the price of rare earths will remain at levels that will render the Company’s projects economic and that the Company will be able to continue raising the necessary capital to finance its operations.  Forward-looking statements involve a variety of known and unknown risks, uncertainties and other factors, including those listed under the heading “Risk Factors” in the Company’s Annual Financial Report dated November 30, 2021 (filed on SEDAR, which may cause the Company’s actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements.

Except as required by law, the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, a future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

There can be no assurance that such forward looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, potential investors should not place undue reliance on forward-looking information.

For more information about NCMI’s mineral resources and related technical information regarding the Lofdal Heavy Rare Earth Project, please see NCMI’s NI 43-101 technical report (a updated preliminary economic assessment Lofdal 2B-4) filed on SEDAR on November 14, 2022 and NCMI’s mineral resource update filed on SEDAR on June 30, 2021.  Information about the quantity and grades of the indicated and inferred mineral resources are described in these documents and are available therein.  Mineral resources that are not mineral reserves do not have demonstrated economic viability.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined by the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this website.


Qualified Person

Dr. Rainer Ellmies, PhD, MSc Geology, GeolFA, EurGeol, AusIMM, is the Company’s Qualified Person and has reviewed and approved the technical disclosure on this website.