Marula Mining PLC

("Marula'' or the "Company")

23 June 2025     

Metallurgical Testing Indicates High-Value By-Product Minerals at Blesberg

Marula Mining PLC (AQSE: MARU A2X: MAR) an African focused mining and development company, is pleased to announce that metallurgical testwork undertaken on behalf of the Company's South African subsidiary, Southern African Lithium and Tantalum Mining (Pty) Limited ("SALT"), indicating the presence of high-value by-product minerals at the Blesberg Lithium and Tantalum Mine located in South Africa ("Blesberg" or the "Project").

Assay and metallurgical results recently received by the Company have indicated that the ore comprises both microline and plagioclase feldspar material and comprises between 60% and 80% feldspar. The assay results have also been received by the Company from local and international buyers on several feldspar samples sent to them for analyses further indicate that the feldspar material from Blesberg is of high quality. These assays included Al₂0₃ grades of approx. 18%, combined CaO and MgO grades of less than 1%, combined Na₂0, K₂0, LiO₂ and RbO grades greater than 11% and combined AlO₃, K₂0, CaO and MgO grades greater than 30% and these meet the technical specifications for its use in the ceramic and glass industries and in the production of solar glass, which is a crucial component of solar photovoltaic cells.

Previous mining activity at Blesberg had resulted in significant quantities of commercial feldspar being mined and sold into the local South African market. The feldspar material previously sold from Blesberg was reported as being coarse in size and with low iron content and was known as a high-quality material and feed for the glass making and ceramic industries.

Historical drilling and sampling at Blesberg has already confirmed the broad extent and high-grade nature of the feldspar mineralisation within the lithium bearing pegmatites identified at Blesberg. This historical work, completed prior to the Company acquiring Blesberg in 2022, indicated feldspar accounted for over 50% of the pegmatite intercepts in the reverse circulation drilling that was completed, with key historic drill intercepts including 10m at 76%, 14m at 70%, 14m at 81%, 4m at 71%, 6m at 63%, 7m at 64%, 8m at 60%, 15m at 57% and 15m at 62% feldspar. 

As announced on 19 June 2024, the Company is progressing with its application and acceptance process for the issuance of a Mining Right at Blesberg. The issuance of the Mining Right will allow for the Company's planned expansion of operations at Blesberg beyond just re-processing of historical stockpiles to also include the development of a sizable conventional open pit mining operation that is proposed to include the mining and processing of the feldspar mineralisation as one of a number a buy-product materials produced in addition to the primary focus on a production of a high-value intermediate lithium product for use in the manufacture of lithium batteries and other high value lithium products.

The metallurgical and assays results support this proposed scalable mine development and processing plans at Blesberg, with the relatively simple beneficiation of the large tonnage by-products such as the feldspar, mica and quartz, the subsequent recovery of the high-value tantalum, tungsten, niobium and other minerals, before production of a high-value intermediate lithium product for use in the manufacture of lithium batteries.

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.

For enquiries contact:

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.