Mining Permit Issued for Blesberg

Marula Mining PLC

("Marula'' or the "Company")

  2 August 2024

Mining Permit Issued for Blesberg

Marula Mining PLC (AQSE: MARU A2X: MARU), an African-focused mining and development company, is pleased to confirm that its wholly owned South African subsidiary Southern African Lithium and Tantalum Mining (Pty) Limited ("SALT") has been awarded a Mining Permit by the South African Department of Mineral Resources and Energy ("DMRE") for its Blesberg Lithium and Tantalum Mine ("Blesberg" or the "Project").

The Mining Permit, which is valid for a period of two years until 24 May 2026 and extends over five hectares, allows for development and open pit mining of lithium, tantalum and niobium ores and feldspar at Blesberg, and is in addition to the already approved stockpile re-processing operations. The Mining Permit allows for the Company to progress these open pit mining and development activities whilst the DMRE completes its approval process for the Mining Right application that has been accepted by the DMRE and which was previously announced by the Company on 20 March 2024.

The Company is now proceeding with initial surface development work and clearance activities, and will then look to commence the planned open pit development and conventional open pit drill and blast and load and haul mining operations..

The Company is in the process of appointing a local mining contractor for this development work and the associated open pit mining activities and this is expected to be completed in the current quarter.

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: MARU) 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, Korridor Lithium Project and Kruisrivier Cobalt Mine, all in South Africa; the Larisoro Mnaganese Mine and Kilifi Manganese Processing Operation both in Kenya; 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 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.