Drilling Contractor Appointed and Mobilised to Site, Drilling Has Commenced

Marula Mining PLC

 ("Marula'' or the "Company")

15 August 2023

Drilling Contractor Appointed and Mobilised to Site

Drilling Has Commenced

Marula Mining (AQSE: MARU) an African focused mining and development company, is pleased to announce the appointment and mobilisation to site of experienced South African drilling contractor, PDS Africa Pty Limited ("PDS Drilling").

PDS Drilling have now commenced the planned 2,900 metre ("m") resource drilling programme at the Blesberg Lithium and Tantalum Mine in South Africa ("Blesberg" or the "Project") with drilling of the first drill hole now underway.

Highlights:

• Experienced South African drilling company, PDS Drilling has been appointed as the Company's drilling contractor for the planned resource drilling program at Blesberg
• PDS Drilling is a specialised drilling company, and has provided contract drilling services and support for mining companies throughout Southern Africa since 2012
• PDS Drilling has now mobilised its drilling rig and all associated drilling equipment and personnel to Blesberg and has commenced the planned diamond drilling program work
• The diamond drilling program is part of the ZAR 26 million Blesberg resource drilling exploration and mine planning program as announced by the Company on 11 August 2023
• As announced on 11 August 2023 the diamond drilling program is to be completed in 2 phases:
  • Phase 1 is to comprise an initial 1,500m diamond drilling of 20 holes on a 25m x 50m drill spacing
  • The Phase 1 drilling program is aimed at defining a maiden JORC Code 2012 compliant Mineral Resource Estimate ("MRE") and support the initial hard rock open pit mining plan
  • Phase 2 is to comprise a further 1,400m diamond drilling of 18 holes on a 25m x 25m drill spacing
  • The Phase 2 drilling program is aimed at both increasing the confidence level of the MRE and further expanding and confirming the area of mineralisation to support the broader mine development plans for Blesberg

• The two-phase resource drilling program is to be completed by PDS Drilling  and is expected to be completed within a total 6-month period
• PDS Drilling's work will be overseen by Project Manager, Mr Jacques Perold, and also by on-site General Manager Operations Southern Africa, Mr Henk van Zyl

Jason Brewer, Marula Mining PLC CEO said:

"I am delighted to be able to confirm that PDS Drilling has been appointed as the drilling contractor for the Blesberg resource drilling program, and have mobilised all equipment and personnel to site.

"PDS Drilling have a great track record in Southern Africa and the team at Blesberg are looking forward to working with them as they progress the planned 38-hole and 2,900m diamond drilling program over the next six months.

"We are pleased to see that this resource drilling program has now commenced and have been impressed at how PDS Drilling have been quick and efficient to now start this drilling work on site. 

"This resource drilling program is aimed at defining a maiden JORC resource for Blesberg and to be the basis of the initial hard rock open pit mining plan that is to be developed under the broader resource drilling exploration and mine planning program that is now underway.

"I look forward to updating shareholders on the ongoing status of the drilling program and the activities that PDS Drilling will be completing on site."

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, Bagamoyo Graphite Project and Nyorinyori Graphite Project 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 the AQUIS Stock Exchange (AQSE), Marula is exploring opportunities to admit its shares to trading on AIM, the market operated by the London Stock Exchange Group plc, 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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