Marula Mining PLC - Appointment of New Mine Manager at Larisoro

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Marula Mining PLC

("Marula'' or the "Company")

7 May 2024

Appointment of New Mine Manager at the Larisoro Manganese Mine in Kenya

Marula Mining (AQSE: MARU), an African focused mining and development company, is pleased to announce the appointment of Mr. Benard Kiprotich as the Mine Manager at the Larisoro Manganese Mine ("Larisoro" or the "Mine") in Samburu County, Kenya.

This appointment follows the Company's agreement with Kenyan manganese mine operator Gems and Industrial Minerals Limited ("GIM"), to invest in the mining operation with the purchase of new processing and mining equipment and the undertaking of a exploration program.

Mr Ngetich is a Mine Manager with over five years of experience in Mining and Mineral Processing Engineering in Kenya. He brings extensive expertise to the Company from hands-on experience in his previous roles, having worked in Kenya at a number of open cast quarrying operations and underground mining operations.

Highlights:

·      Mr Kiprotich joins Marula Mining's wholly owned subsidiary Muchai Mining Kenya Limited ("MMK") as the new Mine Manager of the Larisoro Manganese Mine

·      Mr Kiprotich holds a degree in Mining and Mineral Processing Engineering, from Jomo Kenyatta University of Agriculture and Technology (J.K.U.A.T), Kenya

·      Mr Kiprotich brings extensive experience in Mining and Mineral Processing Engineering and the Board believes he is well positioned to drive and develop the Larisoro Manganese Mine further

·      This appointment follows the commencement of activities on site with refurbishment and upgrade work to the existing processing equipment underway

·      Mr Kiprotich will work closely with the geological team headed by Mr Collins Aseto, Head of Exploration East Africa and Mr Edward Ruheni, General Manager East Africa, to ensure smooth and timely operations at the mine

·      Mr. Kiprotich, within his appointed capacity, will ensure;

I.     Efficient and safe mining operations to meet production targets, alongside assessing equipment needs

II.    Implementation and maintenance of robust safety and environmental standards

III.   Management of budgets effectively and optimisation of costs to enhance operational efficiency

IV.  Compliance with regulatory and legal requirements related to mining operations

V.    Building and maintaining positive relationships with stakeholders, including local communities and regulatory bodies

·    High-grade manganese ores from the Mine delivered at the lay-down yard in Nairobi are currently undergoing final sorting and sampling ahead of planned sales  in May 2024

·    The sorted material is scheduled for transportation from GIM's lay-down yard in Nairobi to Mombasa for export in the coming weeks

Jason Brewer, CEO of Marula Mining, commented:

"I am thrilled to welcome Benard to the Company as our new Mine Manager for the Larisoro Manganese Mine. With his experience and dedication to operational excellence, I am confident that he will play a pivotal role in driving our strategic goals and furthering the development of Larisoro. His leadership will be instrumental in ensuring efficient mining operations, maintaining high safety standards, and fostering positive relationships with stakeholders. We look forward to a successful partnership as we continue to grow and enhance our presence in the mining industry."

Benard Kiprotich, Marula's Mine Manager at Larisoro, commented:

"Joining the Company as Mine Manager of the Larisoro Manganese Mine is an exciting opportunity for me to contribute my expertise and drive the project forward. I am honoured to be part of a company that is committed to accelerating development and meeting production targets while prioritising safety, environmental standards and regulatory compliance. I look forward to working closely with the team to ensure smooth operations and build positive relationships with stakeholders as we advance the Larisoro Mine to new heights."

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, the Nkombwa Hill Project in Zambia and the Larisoro Manganese Mine located in Kenya. 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, 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.