Marula Mining PLC

("Marula'' or the "Company")

19 June 2025     

Update on Issue of Mining Right for Blesberg

Marula Mining PLC (AQSE: MARU A2X: MAR) an African focused mining and development company, is pleased to announce that further to its announcement of 27 March 2025, the Company's South African subsidiary, Southern African Lithium and Tantalum Mining (Pty) Limited ("SALT") has satisfied two of the three key conditions required for the issuance of an initial 10 year Mining Right ("Mining Right") for its Blesberg Lithium and Tantalum Mine ("Blesberg" or the "Project").

The first of these key conditions, Environmental Authorisation for the Mining Right, has been granted following receipt of the ZAR 11,860,902 (approx. £510,000) environmental rehabilitation guarantee, as required under the Environmental Management Act (Act 107 of 1998) and the Environmental Impact Assessment Regulations, 2014, from the South African Department of Mineral and Petroleum Resources ("DMPR"). SALT also completed the Environmental Authorisation granting notification and appeals process, as required in terms of Regulation 4(2) of the Environmental Impact Assessment Regulations 2014.

The second condition stipulates that an updated Social Labour Plan ("SLP") must be submitted to the DMPR, in compliance with Regulation 46 as required by Section 23 of the Mineral and Petroleum Resources Development Act ("MPRDA") (Act 28 of 2002). This plan aligns with the Integrated Development Plan of the local municipality and has been approved by both the Nama Khoi Local Municipality and the affected communities. The plan is currently under review by the DMPR.

The last of the three key conditions to be satisfied is the finalisation of the Broad-Based Black Economic Empowerment ("B-BBEE") structure for the Company's subsidiary SALT. SALT is completing this step in compliance with Section 100(2)(a) of the MPRDA and the requirements of Mining Charter III. This charter mandates the distribution of a minimum of 30% BEE shareholding in new mining rights, which must be allocated to host communities and qualifying employees as non-transferable carried interest, as well as to BEE entrepreneurs with effective ownership.

The consultations and information sessions conducted with the affected communities regarding their Community Development Trust align with the stipulations and guidelines set forth in the Mining Charter. This is also in accordance with the regulations from the Department of Trade and Industry concerning trusts for B-BBEE compliance within the mining sector. The Company expects to complete this process by July 2025.

The Company is committed to ensuring that all stakeholders are adequately informed and engaged throughout this process. By fostering transparent communication and collaboration, the Company aims to uphold the principles of equitable development and empowerment within the communities we serve.

Once issued, the Mining Right is to extend over the full 1,051 hectares ("ha") Blesberg license area, replacing the 2-year Mining Permit that extended over a 5ha area announced in August 2024. The approval and issuance of the Mining Right will be a major milestone for Blesberg which will allow the Company's subsidiary SALT to expand its planned operations at Blesberg beyond just re-processing of historical stockpiles to include the development of a large-scale and conventional open pit mining operation that broadens the original focus on the lithium, tantalum, niobium and feldspar mineralisation in the pegmatite.

Upon the issuance of the Mining Right, the Company will proceed with its planned appointment of a mining contractor to commence the open pit mining at Blesberg as announced in December 2024 as well as seek to finalise the previously announced Joint Venture with Asian-based battery manufacturers in respect to the commissioning, financing, and operation of a lithium acid leaching plant to produce an intermediate lithium product for use in the manufacture of lithium batteries and other high value lithium products.

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: MAR) 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 and Northern Cape Lithium and Tungsten Project, all in South Africa; the Boteti Lithium Brines Project in Botswana; the Larisoro Manganese Mine and Kilifi Manganese Processing Operation both in Kenya; the Kinusi Copper Mine, the Nyorinyori Graphite Project and the NyoriGreen Graphite Project all 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 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.