Update on Expansion to Processing Capacity at Blesberg

Marula Mining PLC

 (“Marula’’ or the “Company”)

1 December 2023

Update on Expansion to Processing Capacity at Blesberg

Marula Mining (AQSE: MARU), an African focused mining and development company, is pleased to provide an update on the Blesberg Lithium and Tantalum Mine (“Blesberg” or the “Project”), where the Company is completing an expansion and installation of new equipment to materially expand the ore processing capacity and the production of up to 5,000 tonnes per month of a high-grade lithium spodumene product from both the current stockpiled material from the historic mining activities and from the development plans of a larger scale hard rock open pit mining operation that is scheduled to commence in January 2023.

As announced on 29 August 2023, the Company is completing an expansion to the ore processing capacity at Blesberg following the approx. ZAR40.6 million (£1.75m) acquisition of two sensor-based, XRF ore sorters (together “XRF Ore Sorters”) from Tomra Systems ASA (“Tomra”) and Rados International Technologies (Malta) Limited (“Rados”) and the planned installation of new static crushing and screening equipment.

This work has advanced over the past 3 months, with site works and process plant acceptance testing underway and ongoing plant optimisation work also being undertaken by recently appointed mineral processing and metallurgical consultants.

Highlights

• Rados has completed construction of the Rados SRF100-8 ore sorter in South Africa
• Successful factory acceptance testing work completed, and which has validated all of the pre-work, design and development to ensure the Rados SRF100-8 ore sorter has been constructed to the agreed design specifications
• Rados SRF100-8 ore sorter scheduled to arrive on site at Blesberg by mid-December 2023
• Ore commissioning of the Rados SRF100-8 ore sorter to be completed by end of December 2023
• Tomra to now commence testing of the Tomra COM XRT 1200 ore sorter in South Africa with material from Blesberg
• Tomra COM XRT 1200 ore sorter to arrive on site at Blesberg in early January 2024
• Ore commissioning of the Tomra COM XRT 1200 ore sorter on site at Blesberg to be completed by end of January 2024
• South African metallurgical and mineral processing group, Erudite Strategies Limited (“Erudite”) appointed as project managers to oversee the installation and commissioning of the expanded process plant and XRF Ore Sorters at Blesberg
• Erudite’s work will also involve optimisation of the mineral process design, including the Rados and Tomra sorting technology with the new primary crushing and screening circuit and plant with mica extraction and bagging, to increase operating and cost efficiencies and maximise recovery of the high-value spodumene

• Civils and concrete works are underway at Blesberg ahead of the planned installation and commissioning of the XRF Ore Sorters and new crushing and screening circuit
• Commissioning of the expanded processing plant at Blesberg on schedule to be completed in Q1 2024 in line with the increased mining activities that are also scheduled to commence then

Jason Brewer, Marula Mining PLC CEO said:

“We continue to make good progress at the Blesberg Lithium and Tantalum Mine in the Northern Cape in South Africa.

“The progress with the XRF Ore Sorters has been positive to see and after testing of the Rados SRF100-8 ore sorter, we now look forward to its arrival and commissioning at Blesberg. Credit to the team at Rados for how quickly and effectively they have completed this work to date. With the Tomra COM XRT 1200 ore sorter to undergo testing ahead of transportation and commissioning on site at Blesberg, all is on track for the increase in processing capacity to produce up to 5,000 tonnes per month of a high-grade lithium product.

“An important step for us at Blesberg recently has been the appointment of Erudite, who will oversee the installation and commissioning of the expanded process plant and XRF Ore Sorters at Blesberg. They will also complete further optimisation and process design work on the new primary crushing and screening circuit, to maximise recoveries and improve efficiencies.

“I recently met Erudite’s CEO Johann de Bruin and Hector Mapheto, who heads up the Process Engineering team, whilst in Johannesburg and I look forward to working with them as we commission and commence operations from the expanded mineral processing facilities at Blesberg.

“I look forward to providing further updates on our progress with the expanded processing plant and capabilities at Blesberg, as I believe it will assist us as we look to positioning Marula as a fast emerging battery metals producer at Blesberg.”

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.

For enquiries contact:

Marula Mining PLC Jason Brewer, Chief Executive Officer Faith Kinyanjui Mumbi Investor Relations	Email : [e-mail] Email : [e-mail]
AQSE Corporate Adviser Cairn Financial Advisers LLP, Liam Murray / Ludovico Lazzaretti	[phone]
Broker Peterhouse Capital Limited, Charles Goodfellow / Duncan Vasey	[phone]
Financial PR and IR BlytheRay Tim Blythe / Megan Ray / Said Izagaren	[phone]

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.

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