Marula Mining Plc - Processing Commences at Blesberg Lithium Mine

Marula Mining PLC

(“Marula’’ or the “Company”)

Processing of Stockpiles Commences at Blesberg Lithium and Tantalum Mine

25 November 2022

Marula Mining (AQSE: MARU) an African focused mining and development company, is pleased to update the market and shareholders on mine development activities as the Blesberg Lithium and Tantalum Mine in South Africa (the "Blesberg Project" or “Blesberg”) where significant progress has been made towards the major milestone of delivery of the first shipment of high-grade 'run-of-mine" lithium ore under the US$5 million lithium prepayment facility to a South African based subsidiary of global commodity group Traxys SARL.

Highlights

• All mobile mining equipment on site and operational
• Majority of processing plant equipment on site and operational and with a number of support equipment currently being commissioned
• Detailed stockpile processing plans completed and mine layout optimisation being finalised
• Stockpiles from historical tantalum mining operations currently being crushed and screened through mobile processing equipment and deposited in new run-of-mine stockpiles
• Processing of the historical stockpiles is part of the Company’s site rehabilitation program and required as part of the longer term hard-rock planned mining activities
• Rehabilitation provision with the Department of Mineral Resources has been increased with additional funds deposited by the Company to accommodate the processing of the stockpiles and ongoing rehabilitation activities
• Sorting and processing of these stockpiles has now commenced
• Upgrade of all key site infrastructure well advanced and including site accommodation and associated infrastructure
• Haul roads upgraded and secure fencing installed
• Water supply for the processing of the stockpiles has been secured and temporary power generating unit installed
• Central stores and workshops being established in the nearby town of Steinkopf
• Over 30 new employees recruited from the local Steinkopf community and undergoing site health and safety and other induction processes
• Implementation of the Company’s ESG initiatives underway on site and in the surrounding communities
• Recruitment of additional mine, processing and administrative staff underway
• First deliveries of high-grade 'run-of-mine" lithium ore under the US$5 million lithium prepayment facility anticipated to commence in December 2022

Jason Brewer, Marula Mining PLC CEO, said:

“I am excited to share the progress being made at the Blesberg project. Following the recent US$5 million funding for the stockpile processing operation we have immediately begun working on upgrading and developing various areas of the site and remain on target for first sale in January 2023.

“It is great to see the progress that has been made in such a short period of time and credit must go to the tireless work of our on-site and off-site staff under the management of our contractors Southern Metals Processing. Their work, is greatly appreciated, and we look forward to welcoming employees from the local Steinkopf community as we ramp up development of the site and production in the closing stages of the year.

“The speed at which we have managed to advance this project has demonstrated that the Company’s refocused strategy is being successfully implemented. We look forward to continuing to deliver value to all our stakeholders and we thank them for their continued support.

“I look forward to updating the market with news from Blesberg and the rest of Marula’s portfolio in the near future.”

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) is an African focused battery metals investment and exploration company and has interests in several high value mine projects in Africa; Blesberg Lithium and Tantalum Mine in South Africa, Nkombwa Hill Project in Zambia and Kinusi Copper mine in Tanzania. As we advance operations in the projects, Marula is open to look into other high-quality commodities in several jurisdictions.

Marula aims at identifying and investing in advanced and high-value mining projects throughout East, Central and Southern Africa that can deliver rapidly for its shareholders and can be taken through to production and generate positive returns for all stakeholders. Our 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 quoted on the AQUIS Stock Exchange (AQSE) and is exploring opportunities to dual list on the London Stock Exchange’s AIM Market and Kenya’s Nairobi Securities 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 identi?ed 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 re?ect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.