Marula Mining Plc - Arrival of New Processing Equipment at Blesberg

Marula Mining PLC

(“Marula’’ or the “Company”)

7 December 2023

Arrival of New Processing Equipment at Blesberg

Marula Mining (AQSE: MARU), an African focused mining and development company, is pleased to confirm that further to the announcement on 1 December 2023, the early arrival of new ore processing equipment at the Blesberg Lithium and Tantalum Mine (“Blesberg” or the “Project”) which is part of the Company’s expansion to its ore processing capacity to increase production to up to 5,000 tonnes per month of a high-grade lithium spodumene saleable product in Q1 2024.

The processing equipment, which arrived on site ahead of schedule, included the Rados SRF100-8 ore sorter, one of two sensor-based, XRF ore sorters that have been acquired for approx. ZAR40.6 million (£1.75m), and which as announced on 1 December 2023, had undergone successful acceptance testing last week, which validated all of the pre-work, design and development and confirmed that it had been constructed to the agreed design specifications

Highlights;

• Rados SRF100-8 XRF ore sorter and associated conveyor and support equipment has arrived on site at Blesberg ahead of schedule
• Installation of the Rados SRF100-8 XRF ore sorter will now commence
• The Company’s management team and consultants, including recently appointed South African metallurgical and mineral processing group, Erudite Strategies Limited are on site to oversee the installation and commissioning of the expanded processing plant and XRF Ore Sorters at Blesberg
• Installation and commissioning of the Rados SRF100-8 XRF ore sorter is anticipated to be completed by the end of December 2023
• The second XRF ore sorter, the Tomra COM XRT 1200 ore sorter, remains on track to arrive at Blesberg in early January 2024 with commissioning to be completed by the end of January 2024
• As announced on 1 December 2023, the commissioning of the expanded processing plant, which includes the two XRF ore sorters and additional crushing and screening equipment at Blesberg remains on schedule for completion in Q1 2024 and to occur in parallel with the increased mining activities from the historical stockpiles and proposed new open pit mining operations

Jason Brewer, Marula Mining PLC CEO said:

"Our proposed expansion to the processing capacity at Blesberg has moved ahead at speed and has only been achievable through the combined efforts of our management team at Blesberg, the team at Q Global Commodities and the Rados International Technologies team in South Africa.

“We remain very confident in a successful installation and commissioning of this new processing equipment, through the involvement also of Erudite Strategies and our on-site team led by Marula's General Manager Henk van Zyl.

“Marula remains dedicated to advancing sustainable and efficient mineral processing, and these developments underscore our commitment to excellence in the industry.

“We look forward to a successful commissioning of the Rados XRF ore sorter and also the Tomra XRF ore sorter completing its offsite testing and arrival on site early in the new year."

The Directors of Marula are responsible for the contents of this announcement.

About Marula Mining

Marula Mining (AQSE: MARU) is an African focused battery metals investment and exploration company and has interests in several high value mine projects in Africa; the Blesberg Lithium and Tantalum Mine and Korridor Lithium Project in South Africa, the Kinusi Copper Mine, the Nyorinyori Graphite Project, the NyoriGreen Graphite Project and the Bagamoyo Graphite Project all in Tanzania and the Nkombwa Hill Project in Zambia. As we advance operations at these battery metals focused projects, Marula will continue to build and expand its interests in other high-quality projects in Africa.

Marula’s strategy is to identify and invest in advanced and high-value mining projects throughout East, Central and Southern Africa that the Directors believe would deliver returns for its shareholders. The Board and management team aims to establish Marula as a socially and environmentally responsible, sustainable, and profitable producer of critical metals and commodities that are of increasingly strategic importance to modern technologies and the global economy. Marula’s shares are traded on the AQUIS Stock Exchange (AQSE), Marula is exploring opportunities to admit its shares to trading on the London Stock Exchange plc’s Standard List or AIM Market, Kenya’s Nairobi Securities Exchange and South Africa’s Johannesburg Stock Exchange.

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Caution:

Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect", ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.