Marula Mining PLC - Further Update on Kilifi

Marula Mining PLC

("Marula'' or the "Company")

14 February 2025      

Further Update on Kilifi Manganese Processing Plant

Marula Mining PLC (AQSE: MARU A2X: MAR) an African focused mining and development company, is pleased to provide an update on process plant modifications and commissioning activities at the Kilifi Manganese Processing Plant (the "Kilifi Plant") located in the Tezo Area, Kilifi County in Kenya.

Further to the announcement of 28 January 2025, the Company is pleased to advise that the modifications to the Kilifi Plant are continuing and remain on schedule to be completed in the current quarter. These modifications to the screen sizes of the trommel scrubber and vibrating screens, to the feed hopper, the oversize crushing as well as the final manganese product stockpiling areas.

As part of this ongoing work, Nairobi-based, Zegatron ("ZES") Engineering Solutions, a specialist mineral processing, engineering and fabrication company, headed up by Mr Dadson Mwangi, have been engaged by the Company, to complete a number of modifications to the plant,  complete the plant optimisation work and oversee the commissioning and initial operation of the manganese processing operations at the Kilifi Plant.

Ahead of the commissioning of the Kilifi Plant, the Company has recently engaged contractors to transport mobile mining equipment to the plant site which will be used in the mining and transport of the manganese ore to site and for the loading of the final manganese product as part of the broader logistics arrangements for the export of the high-grade manganese ores.

The commissioning of the plant and first manganese exports sales are expected to be completed in the current quarter, with commissioning of the plant and first exports sales to follow shortly thereafter. Negotiations are ongoing for an initial 5,000 tonnes of manganese sales and which are anticipated to be completed this quarter are ongoing, and which once concluded, could form the basis for potential long-term manganese offtake arrangements for the Kilifi Plant.

Jason Brewer, CEO of Marula Mining, said:

"Our progress at the Kilifi Manganese Processing Plant has been very pleasing and the progress by our own team on site and the involvement of teams such as ZES Engineering Solutions in making the necessary plant modifications and working on optimisation studies is a credit to them.

"In parallel with this, we have been progressing the initial sales agreements for this quarter's production and looking at the longer-term offtake arrangements. With the current strength of the manganese market and the high-value product that we believe we can deliver at the Kilifi Plant.

"With the progress we are making here at Kilifi and the recent news from our Kinusi Copper Mine, and other developments across the group, it is fair to say that Marula is on track to establish itself as a multi-mine, multi-commodity producing critical metals mining company.

"This quarter was always going to be a significant one for the Company and we hope to deliver on our strategy and production goals."

The Directors of Marula are responsible for the contents of this announcement. This announcement contains inside information for the purposes of UK Market Abuse Regulation.

About Marula Mining

Marula Mining (AQSE: MARU A2X: MAR) is an African focused battery metals investment and exploration company and has interests in several high value mining operations and mine development projects in Africa: the Blesberg Lithium and Tantalum Mine, Northern Cape Lithium and Tungsten Project and Kruisrivier Cobalt Mine, all in South Africa; the Larisoro Manganese Mine and Kilifi Manganese Processing Operation both in Kenya; the Kinusi Copper Mine, the Nyorinyori Graphite Project and the NyoriGreen Graphite Project all in Tanzania. 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 AQUIS Stock Exchange (AQSE) in London and A2X Markets in South Africa. Marula is exploring opportunities to admit its shares to trading on 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.