Marula Mining (AQSE: MARU) High-Grade Graphite Mineralisation Observed at Nyorinyori Project in Tanzania

Marula Mining (AQSE: MARU), an African focused mining and development company, is pleased to provide an update on its Nyorinyori Graphite Project (“Nyorinyori” or the “Project”), in which the Company has a 75% interest, located in the Simanjiro District, in the Manyara Region of Tanzania.

Marula’s CEO Jason Brewer and representatives of Takela Mining Tanzania Limited (“Takela”) recently completed a technical site visit to Nyorinyori during which high-grade graphite mineralisation and the presence of jumbo graphite flakes were observed on the granted mining licenses.

Highlights:

• High-grade graphite mineralisation observed at Nyorinyori, with visual estimates of +90% graphite content in shallow and broad graphite veins exposed at depths of approximately 2 metres (“m”) from limited and small-scale mining activities
• Further associated graphite mineralisation observed at surface from numerous outcrops, extending over an initial strike length of over two kilometres and which remains open
• Visual observations of the high-grade graphite mineralisation that is currently being mined on a small scale has identified jumbo graphite flakes present throughout
• Several samples have been taken for analysis and assay to determine total graphite content (“TGC”) grade and flake size with results expected in Q2 2023
• A planned one-and-a-half-tonne bulk sample is to be extracted and sent for full independent metallurgical analysis and assessment
• Based on the site visit and observations by senior management, the Company has now committed to an accelerated exploration program at Nyorinyori which will include further mapping, sampling and a maiden shallow drilling program
• Exploration activities to now commence with the Company’s geological management team to progress in conjunction with work to also be undertaken by Geofields Tanzania Limited
• Negotiations have also commenced with Takela to potentially increase the scope of the Project to include up to 25 additional granted mining licenses

Jason Brewer, Marula Mining PLC CEO said:

“We are pleased with the promising results observed during our recent site visit to the Nyorinyori Graphite Project. The high-grade graphite mineralisation and presence of jumbo graphite flakes are indicative of the immense potential that we believe this project holds. As a result, we will be fast-tracking our on-site activities and accelerating exploration work to further demonstrate and realise this potential.

“We are now submitting several samples of the high-grade graphite mineralisation taken whilst on site for analyses. In addition, we will also be taking an initial bulk sample to give us a better understanding of this mineralisation and its grade and flake sizes.

“Graphite is an essential component in green energy technologies, such as electric vehicle batteries and hydrogen fuel cells. The Nyorinyori Graphite Project not only aligns with our strategic focus on battery metals but also positions Marula to, in our opinion, quickly contribute towards the global demand for graphite as we collectively push towards the green transition.

“I look forward to updating our shareholders and stakeholders alike, on our progress at Nyorinyori.”

About the Licences

Takela is the 100% holder of 10 Primary Mining Licences located in the Nyorinyori area in Simanjiro District, in the Manyara Region of Tanzania. The Licences are contiguous, extend over a combined area of approx. 86 hectares and are valid for a 7-year period to 2 February 2030, allowing the holder to prospect and mine for graphite.

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, and Kenya’s Nairobi Securities Exchange.

Caution

Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identi?ed 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 re?ect the Directors’ current beliefs and assumptions and are based on information currently available to the Directors.

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