Marula Mining PLC

("Marula'' or the "Company")

21 June 2024

Update on Proposed Nairobi Securities Exchange Dual Listing

Marula Mining (AQSE: MARU) an African focused mining and development company, provides an update on its planned dual listing on the Nairobi Securities Exchange ("NSE") in Kenya.

The Company confirms that further to its announcement of 22 December 2023, it will now be seeking admission of its securities to the Growth Enterprise Market Segment ("GEMS") of the NSE in July 2024 and is working with its Nominated Advisor and Sponsoring Stockbroker, Faida Investment Bank to finalise all outstanding matters.

Highlights:

·    Marula to seek dual listing of its securities on the NSE in July 2024

·    Dual listing follows the Company's recent investment in the Larisoro Manganese Mine located in Samburu County in Kenya with potential future planned investments and acquisitions in Kenyan's copper, graphite and manganese mining sector

·    The revised date allows for the inclusion of a number of material documents and milestones to be included in the Company's NSE listing documentation including details of its investment in the Larisoro Manganese Mine and the sales of manganese ore due to commence under agreed offtake arrangements

·    The NSE listing documentation will also include details of additional upcoming investments in Kenya's copper, graphite and manganese sectors, where the Company has a clear strategy of establishing itself as Kenya's leading mining and mineral investment company

·    The Company's listing document will also include details of its sales of production of other battery metal products including lithium ores in South Africa and planned copper, graphite and rare earths mine production

·    The proposed dual listing on the NSE further underscores the Company's commitment to Kenya and East Africa's mining sector and battery and critical metals mine development as well as to its many stakeholders within the African continent

·    The planned listing will enable Marula to access the wide pool of individual and institutional investors in Kenya, and is considered a key element of the Company's plans to accelerate its growth and new mine development in Kenya and East Africa

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, the Nkombwa Hill Project in Zambia and the Larisoro Manganese Mine located in Kenya. 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) in the United Kingdom and the A2X Markets in South Africa. Marula is exploring opportunities to admit its shares to trading on the London Stock Exchange plc's Standard List, 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.