Tulla Resources Plc announced an update to the Mineral Resource and Ore Reserve at the Green Lantern deposit, part of the Scotia Mining Centre at the Norseman Project (TUL 50%). Green Lantern lies approximately 270 metres to the south east of the Scotia Open Pit, and is open at depth and along strike to the south. The southern most drill line completed to date is typical of the Green Lantern deposit generally with no indication that the system is weakening along strike.

The current drilling, which is designed to achieve spacing suitable for Ore Reserve calculation (nominally 25m x 25m), has continued to increase resource confidence infilling multiple lodes, and further refining understanding of the controls on mineralisation. The updated Green Lantern block model was utilised in conjunction with updated costs using the current contract rates and diesel price to confirm open pit economics. The Green Lantern open pit has a strike length of approximately 1,150 metres, and a stripping ratio of 8:1. The Ore Reserve consists of 3.3 Mt @ 1.5 g/t for 160,000 ounces Au of run of mine material, and an additional 1.0 Mt @ 0.8 g/t for 26,000 ounces Au of additional low grade material.

In addition the life of mine plan incorporates 160 kt @ 1.3 g/t for 6,500 ounces of Mineral Resource in the Inferred category. The total life of mine plan includes 19,000 ounces. This Mineral Resource comprises Inferred Mineral Resources which are unable to have economic considerations applied to them, nor is there certainty that they will be converted to Measured or Indicated Resources through further sampling.

Key changes in the Mineral Resource include: The Green Lantern Mineral Resource has increased by 83,000 ounces from the September 2021 statement, representing a 27% increase to the total inventory. Additionally 76% of the total Mineral Resource is in the Indicated Mineral Resource classification and has been informed by an additional 18,898 metres of drilling taking the total to 56,450 metres of drilling. 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 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 Company owns 100% of the iron ore asset located at the Norseman Gold Project, subject to the terms of the Mineral Rights Deed entered into with Pantoro South.

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 154 near continuous mining tenements (including pending applications) over approximately 70 kilometres of strike covering approximately 750 square kilometres. The Project has produced in excess of 5.5Moz of gold since 1935 and is considered one of the higher grade, large scale gold projects in Western Australia.

The current Mineral Resource is 4.8 million ounces of gold with an Ore Reserve of 973,000 ounces.