Tulla Resources Plc provided a further update on high grade drilling results from ongoing growth drilling of the Scotia Deeps, Green Lantern and extension drilling at Scotia North at the Norseman Gold Project (TUL 50%). The drilling program which has been active since completion of the maiden Mineral Resource and Ore Reserve at Green Lantern in September 2021 is focused on extending the known mineralisation and converting to Indicated Mineral Resource and Probable Ore Reserve. An upgrade of the Mineral Resource Estimate and Ore Reserve for the Norseman Gold Project is imminent.

The continued wide and high grade intercepts achieved at depths approaching 500 metres below surface confirm the view that the Scotia Orebody presents an outstanding high grade underground opportunity which can be substantially larger than currently defined. Additional high grade underground ounces would assist to further improve the robust outcomes of the Phase One Mine Plan, potentially extending mine life and increasing annual gold production. Drilling results received from Scotia Deeps since announcement of the maiden Ore Reserve in October 2020 include: 4m at 25.32 g/t Au from 203 m. 1.3 m at 14.09 g/t Au from 396.7 m. 3.28 m at 10.15 g/t Au from 303 m. 15.7 m at 6.8 g/t Au from 332 m. 1 m at 47.00 g/t Au from 346.7 m. 4 m at 5.2 g/t Au from 266 m. 2.1 m at 44.60 g/t Au from 322.9 m. 0.6 m at 70.65 g/t Au from 472.6 m. 4 m at 10.83 g/t Au inc. 0.7 m at 56.20 g/t Au from 437 m. 2.6 m at 6.51 g/t Au from 451.8 m. 5.25 m at 5.27 g/t Au from 155.75 m. 9.94 m at 7.24 g/t Au inc. 1.75 m at 17.38 g/t Au from 195.06 m. Resource development drilling has continued over the Green Lantern deposit, primarily focussed on the conversion of Inferred Mineral Resources to the Indicated Mineral Resource category to support further Ore Reserve upgrades.

In addition to infilling the existing Mineral Resource, drilling is continuing to target mineralization south of the current Open Pit design, where drilling in 2021 identified mineralisation 300 metres to the south with results including: 3 m at 11.58 g/t Au from 61.0 m. 2 m at 4.19 g/t Au from 16.0 m. 10 m at 2.62 g/t Au from 94.0 m inc. 2 m at 9.97 g/t Au from 99.0 m. Scotia North Extensions: Following the detailed drone magnetic survey, which was completed over the entire Scotia Mining Centre, drilling has recommenced in extensions to the north of the Scotia open pit. Results continue to support the potential to extend the mineralisation to the North both at surface and at depth. Scotia Mining Centre: The Scotia Mining Centre is located approximately 25 kilometres south of Norseman and was discovered in 1893.

The historic production recorded from the Scotia mine via open pit and underground mining was 811,000 tonnes at 5.9 g/t Au for 155,000 ounces. Scotia was actively mined from 1987 until 1996. Scotia hosts a number of Mineral Resource areas in close proximity, and several zones where high grade mineral occurrences have not yet been classified.

The joint venture has been very successful in demonstrating the value of the Scotia Mining Centre, with a current Mineral Resource of 10,618,000 tonnes at 2.2 g/t Au for 753,000 ounces and Ore Reserve of 4,216,000 tonnes at 2.2 g/t Au for 298,000 ounces. Several new zones of prospective mineralisation have been identified by the joint venture to date. The mineralisation at Scotia is hosted by a shear zone that transects the Woolyeenyer Formation.

The geological environment differs from that at Norseman, in that the stratigraphy has been subjected to higher metamorphic grades. Primary gold is located in shear zones with quartz sulphide veins predominantly pyrrhotite and is structurally controlled by closely spaced brittle faults of varying orientations. Norseman Gold Project (Tulla Resources 50%): The Company's asset is a 50% interest in the Central Norseman Gold Project (the "Project"), a historic gold province near the town of Norseman in the Goldfields of Western Australia, which commenced operations in 1935.

The other 50% in the Project is held by ASX listed company Pantoro Limited through its wholly owned subsidiary, Pantoro South Pty Ltd. ("Pantoro South") via a farm-in and joint venture agreement dated 14 May 2019 ("FJVA"). Pantoro South is the Manager of the Gold JV. The Project is located at the southern end of the Norseman-Wiluna greenstone belt in the Eastern Goldfields Province of the Yilgarn Block in Western Australia, approximately 725 kilometres east of Perth, 200 kilometres south of Kalgoorlie and 200 kilometres north of Esperance.

The Project comprises 152 near continuous mining tenements (including pending applications) over approximately 70 kilometres of strike covering approximately 750 square kilometres. The current Mineral Resource is 42.0Mt at 3.4 g/t Au for 4.5Moz with an Ore Reserve of 713Koz (100% basis) and the majority of Mineral Resources are on granted mining leases. The Project has significant exploration upside potential.

The Project is serviced by existing infrastructure supported by the local Shire and State infrastructure, with a new 1.0Mtpa carbon in leach processing plant under construction and due to recommence production in August 2022.