Marula Mining Plc - Update on the Optimisation of the Rados Ore Sorter at Blesberg

Marula Mining PLC

(“Marula’’ or the “Company”)

 24 January 2024

Update on the Optimisation of the Rados Ore Sorter at Blesberg

Marula Mining (AQSE: MARU) an African focused mining and development company, is pleased to provide an update on the ongoing commissioning and optimisation of the Rados SRF100-8 XRF ore sorter (“Rados Ore Sorter”) at the Blesberg Lithium and Tantalum Mine (“Blesberg” or the “Project”).

As announced on 12 December 2023, the Rados Ore Sorter, associated conveyors and support equipment was fully installed and first start-up material was processed as part of the commissioning and optimisation of the sorting process.

The Rados Ore Sorter is one of the key parts of the Company’s plan to expand its ore processing capacity at Blesberg to increase production of a high-grade lithium spodumene saleable product in this current quarter.

Highlights:

• Commissioning of the Rados Ore Sorter has now been successfully completed
• The successful first bulk testing and first production of product has now been completed
• This work has been conducted by representatives from Rados International Technologies (Malta) Limited (“Rados”) and overseen by the Company’s on-site management team and our South African metallurgical and mineral processing group, Erudite Strategies Limited
• Handover of the Rados Ore Sorter to the Company’s management and new plant operating team has now taken place
• Major advancements made with the Rados Ore Sorter’s artificial intelligence (“AI”) capabilities and ore sorting algorithm has seen spodumene recoveries increase to 89% achieved during the commissioning and bulk testing
• Spodumene recoveries on a varied range of feed material are exceeding and outperforming the previous laboratory and test results achieved by Rados as part of the plant design work in 2023
• The AI capabilities of the Rados Ore Sorter have allowed it to continuously improve and enhance the recovery, product mass split, sorting aspects and optimisation of the processing technique
• As part of this optimisation work, the Rados Ore Sorter is able to identify and sort approx 20 different colours of spodumene(both UV fluorescent and non-UV fluorescent) based on each spodumene’s unique XRF characteristic, which has positive implications for grade control and product grade improvement
• The Rados team has advised the Company, that along with its partners, that Blesberg is the first operation in the world to successfully mechanically dry process lithium ore on a large scale with spodumene recoveries in excess of 80% and more than threefold upgrade ratio
• Optimisation of the Rados Ore Sorter will continue and production is forecast to increase further as a new McCloskey jaw crusher, new Bell B25E ADT, Kobelco SK520XLDLC-10 excavator, JCB467ZX wheel loader and the sensor based Tomra COM XRT 1200 ore sorter, are scheduled to be delivered and  commissioned as previously advised

Jason Brewer, Marula Mining PLC CEO said:

“We are incredibly proud of the advancements made during the commissioning and optimisation of the Rados Ore Sorter at Blesberg. The successful commissioning and bulk testing and production, not only signifies a major leap in our operational capabilities, but also positions Marula at the forefront of the industry as we use AI sorting algorithms in our processing technologies.

“Achieving up to 89% recovery rates and the capability to process lithium ore with efficiency and precision is a testament to our team and their commitment to innovation as well as our partners at Rados. These results also support our aim to deliver significant volumes of a saleable high-grade lithium spodumene product this year.

“With this method of processing and recovery of the spodumene, with its low-cost and zero use of  chemical reagents and ‘dry processing’ we are demonstrating our commitment to our ESG policies and sustainable mining practices.

“We look forward to updating shareholders on our continuing operations at Blesberg and upcoming installation and commissioning of the Tomra Ore Sorter as well.”

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; 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.

For enquiries contact:

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.