We Identify Opportunities Across Africa

• Marula has 75% commercial interest in 10 primary mining licences through a binding head of agreement with Takela Mining Limited.

• The Licences are valid for a period of 7 years and are located in Kinusi in Mpwapwa District in the Dodoma Region of central Tanzania.
Investment is firmly in line with the Company's battery metals focus and identification of high-grade, near-term production and cashflow generating projects.

• Samples of the copper ore mined from the small-scale activities on site and azurite and malachite copper mineralisation exposed in shallow pits and shafts reported copper grades of up to 31.32%.

• Due diligence identified a potential high grade and shallow copper ore body that appears to extend for over 1km in length and over 300m in width at the main Sasimo Prospect.
• High- grade assays from the Sasimo Prospect included 15.48%, 11.69%, 11.03%, 8.11%, 6.55% and 6.54% copper.

• Initial Exploration Target of a 10-15Mt deposit of high-grade copper and gold, the Exploration Target has the potential to be increased to in excess of 50Mt on completion of definitive resource drilling programs proposed to be completed in the next phase of exploration work at Kinusi.

• Design and construction of a two-phase processing plant to produce both a high-grade and low-grade copper concentrate completed and to be commissioned on site early 2025.

• Phase1: gravity concentrate, coarse jigging and fines dewatering circuit to produce a 24,000 tonnes per annum of high-grade copper concentrate.

• Phase 2 to incorporate a hydrometallurgy fines optimised heap leaching circuit, a copper solvent extraction as well as electrowinning refining process to produce an initial 10,200 tpa of copper cathode.

• The company holds a 75% interest in 13 granted graphite licenses for the Nyorinyori graphite mine, as well as 22 granted licenses comprising the Nyorigreen graphite project. These mines are located in the Simanjiro District of the Manyara Region in Tanzania.

• Licences are contiguous and extend over a combined area of approx. 86 hectares and are valid for a 7-year period.

• Region is considered highly prospective for graphite, with shallow mineralization present and small-scale mining activities already underway.

• A focus on advancing the Nyorinyori Project through completion of a feasibility study through an accelerated exploration and development timetable.

• Exploration has commenced targeting the high- grade jumbo and large flake graphite mineralisation already seen on site.

• Surface outcrops of graphite mineralisation are found extensively on the license area targeting high-grade and shallow graphite mineralisation which has already been identified on the adjoining Nyorinyori Graphite Project licenses.

• Exploration has commenced targeting the high-grade jumbo and large flake graphite mineralisation.

• The Phase 1 exploration program was completed in December 2023, with assay results across the projects received in April 2024 reporting 122 samples taken, showing an average of 8.85% Total Graphitic Carbon ("TGC"), with the highest recording at 15.89%.

• High-grade assays include 15.89%, 14.17%, 13.92%, 12.14%, 11.82%, 11.38%, 11.37%, 11.26% and 11.22% TGC.

• The Projects have exposed graphite mineralisation extending for over 1.20 km in strike length and which remains open and has been mapped with widths of up to 120m where field observations have also indicated large graphite flakes.

• The results suggest the presence of a strong and graphite mineralised system - open-ended along strike, that has the potential to support a medium-sized mining operation.

• Larisoro Manganese Mine is located in northcentral Kenya within the Proterozoic Mozambique mobile belt, in the portion which lies to the east of the East African Rift Valley.

• Marula Mining has 60% commercial interest stake through signing a Binding Terms Sheet with Kenyan manganese mine operator Gems and Industrial Minerals Limited (“GIM”).

• This agreement to constitute also a Technical Support Agreement and a Commercial Agreement where Marula will provide investment of US$1,500,000 for new mining, crushing, screening and processing equipment to increase monthly manganese ore production to between 5,000 tonnes and 10,000 tonnes of saleable high-grade manganese ore over the next 3 to 6 months.

• The Larisoro Manganese Mine is a conventional and shallow open pit mine which commenced operation in 2012 and has operated intermittently over the past 12 years on two granted and adjoining mining permits.

• Mined manganese ore has ranged from 18.82% manganese (“Mn”) to up to 55.01% Mn and has averaged 33.41% Mn over the past 6 years and which is crushed and screened to produce a +37.00% Mn saleable product that has historically been sold into the Asian markets.

• The immediate site consists of 3 open pits that form a cumulative length of at least 600m that strikes at 235⁰ (Right Hand Rule). These are intermittently spread over a strike length of 1.2km with depths varying between 12m to 1.5m deep.

• Ore thickness ranges between 1m to 3m with an average grade of > 36% after crushing to 60mm followed by hand sorting. Historically a monthly return of 1000 tonnes has consistently been supplied to the international market via the Mombasa port.

• Marula's immediate exploration strategy is to establish down-dip and strike length continuity beyond known mineralization through a progressive phased study that is aimed towards a 60,000 tonne per annum production model.

• Given the magnetic properties of the ore at Larisoro, ground magnetics consisting of 1km lines at a line spacing of 50m making a cumulative total of 40-line kilometers is proposed for phase 1.

• Further exploration work shall be dependent on interpreted magnetic anomalies or structural indicators that would support reverse Circulation (RC) or Rotary Air Blast (RAB) drilling.

• In Bagamoyo District, Pwanai Region, Tanzania, Marula Mining PLC has secured a 73% interest in 22 graphite mining licenses. These licenses, valid for seven years, cover approximately 180 hectares and are strategically located near existing graphite mining and exploration activities.

• The exploration efforts have identified two significant graphite zones at Mihuga and Saadan South, spanning a surface area of 500 meters in strike length and 50 to 150 meters in width, with potential extensions exceeding 2 kilometers.

• August 2023 assay results confirmed the high-grade nature of graphite mineralization, particularly at the Mihuga Prospect, where total graphite content reached up to 19.71%. This finding underscores the promising potential of the Bagamoyo project.

• Marula Mining PLC, through its geologists at Geofields, is finalizing plans for the phase 2 exploration program. This program will employ various techniques such as magnetics, induced polarization, electromagnetic surveys, soil geochemistry, and drilling to delineate a maiden JORC Code 2021 compliant resource.

• Samples from Mihuga confirm an average grade of 11.97% total graphite content, with notable concentrations of medium to coarse graphite flakes reaching percentages of 19.71%, 19.33%, 15.65%, and 10.92%.

• These findings further bolster the prospects of the Bagamoyo graphite project.

• Marula has 51% majority interest in Mansena Kruisrivier Cobalt Proprietary Limited ("MKC") through a binding head of agreement with Mansena Cobalt Pty Ltd.

• Kruisrivier Cobalt is a former producing cobalt mine that operated intermittently for over 55 years up to the 1930s and is located 180 KM northeast of Johannesburg on a granted Prospecting Right.

• Visible high grade cobalt mineralisation identified at surface and in the shallow underground workings.

• Historical records confirm the presence of high-grade cobalt, gold, nickel, copper, chromium, zinc, lead, platinum, and silver mineralisation.

• Current non-JORC compliant historical resources of 733,000t of ore grading 8% cobalt have also been reported down to a depth of 200 metres .

• Exploration work on Kruisrivier Cobalt has been ongoing since 2022 and has determined a current non-JORC compliant historical resources of 733,000t of ore grading 8% cobalt down to a depth of 200m increasing to 1.5 million tonnes of ore grading 8% cobalt down to 500m.

• Marula has acquired an 80% shareholding in Agarwal Metals and Ores Limited, a Kenyan incorporated mineral processing company.

• AMO is the registered owner of the Kilifi Manganese Processing Plant located approximately 60 km from the Port of Mombasa in the Tezo Area, Kilifi County in Kenya.

• The Kilifi plant is fully operational and permitted mineral processing plant capable of beneficiating approximately 10,000 tonnes per month of manganese ores.

• Marula to acquire existing nearby manganese mining operations and mineral rights to secure the long-term supply of manganese ore that will be the feed source to the Kilifi Plant.

• Marula is targeting run of mine ore feed to the Kilifi Plant of +20% manganese, which has been historically mined in the region, and which will be upgraded to +30% manganese after processing through the Kilifi Plant.

• Marula’s wholly owned South African subsidiary, Southern African Lithium and Tantalum Mining (Pty) Limited, signed a formal Share Sale Agreement to acquire 100% of the shareholding in South African mining and exploration company Northern Cape Lithium and Tungsten (Pty) Limited (“NCLT”)

• NCLT is the registered holder of Prospecting Right NC 30/5/1/1/2/13317 PR, which extends over 15,000 hectares of the Vioolsdrift Farm, and 12km south of the Orange River in the Namaqualand District of the Northern Cape Province in South Africa

• The NCLT Project is contiguous to and immediately within 5km and 10km north of the Company’s existing operating Blesberg spodumene, tantalum and feldspar mining and processing

• The project includes a portfolio of tungsten assets with the potential to commence open pit operations at the Isis and Koubank Tungsten Mines and develop the pegmatites at Spodumene Kop II and Groendoorn which have good potential for tantalite and industrial minerals such as feldspar.

• Kaalbeen Tungsten Mine
Deposit: Tungsten vein deposit with scheelite mineralisation grading 2-3% WO3
Production: Achieved 10-12 tonnes per year of tungsten concentrate with 74% grades
Potential: Initial investigations indicate untapped tungsten veins beyond historic mining areas
Operations ceased due to low tungsten prices, not resource depletion
Nearby Deposits: Includes Kaalbeen West and Armbank, which have similar geological settings and scheelite mineralisation

• Isis Tungsten Mine
Deposit: Tungsten scheelite mineralisation with grades of 2.46% WO3
Potential: Suitable for shallow open pit mining and retreatment of tailings dumps, with potential for large-scale mining in select areas

• Koubank Tungsten Deposit
Located 6km from Blesberg, south of Spodumene Kop II.
Exploration: Previous drilling and trenching indicate a low-grade surface tungsten deposit.
Potential: Contains several satellite deposits with scheelite, secondary copper minerals, and molybdenite. Koubank III is notable for its ultramafic rocks and sizable mineralisation

• Kaalbeen West Tungsten Deposit
Located 2.3km northwest of the main Kaalbeen Mine, unmined with several tungsten-bearing veins up to 7m thick, extending over 1km²

• Spodumene Kop II Pegmatite
Located 6km northeast of Blesberg
Geology: Three-zone albite intrusive pegmatite with significant spodumene, beryl, and tantalite.
History: Previously mined with an estimated 350,000 tonnes (non-JORC compliant) down to 30m depth.

• The company anticipates conducting detailed mapping, sampling, and drilling to explore pegmatite depth and mineral content.