Diamond Project Update

Kazera Global plc (AIM: KZG), the AIM-quoted investment company, is pleased to provide an update on operations at its Deep Blue Minerals ("Deep Blue") diamond project in Alexander Bay, South Africa.

OVERVIEW

• Pulsating diamond jig ordered
• 20 tons per hour processing capacity
• Expected to be in operation in early 2024
• Will overcome diamond gravel processing issues at Alexkor's Muisvlak processing plant
• Capable of being trailer mounted to increase operational flexibility

Dennis Edmonds, CEO of Kazera Global commented: "Having recently inspected a pulsating diamond jig in operation, we have placed an order for a unit which will be deployed at Deep Blue Minerals' diamond mining operation in Alexander Bay, South Africa.

"Historically, Deep Blue has worked with Alexkor to get its Muisvlak diamond gravel processing plant operating correctly so that it and other contractors in the area can process their diamond gravel. However, despite best efforts, it has become increasingly apparent that achieving this consistently is not achievable in the short term. Deep Blue has therefore received approval from Alexkor to utilise a pulsating jig to process its diamond gravel and then deliver very high concentrate gravels to Alexkor for final sorting and sale. This means that the volumes to be transported will be considerably reduced (so reducing costs) and also means that security of our product will be improved.

"Pulsating jigs are widely used for diamond recovery and, with a processing capacity of 20 tons per hour, we believe this purchase provides a cost effective way to swiftly and dramatically improve operations at Deep Blue. "

DETAILS

The Company remains focused on advancing production at its Deep Blue Minerals Project, in which it holds a 64% interest.

The operation is located within the 80km long Alexkor diamond fields, which lies between two historic De Beers operations. The area has been mined for diamonds since 1928 and more than ten million carats of gem quality diamonds have been recovered over the last ninety years or so. It is estimated that there are at least another two million carats left in the tenement.

Mining at Deep Blue is undertaken under contract from Alexkor RMC JV ("Alexkor"), a government owned entity, which has the rights to all the diamonds in the area.

Part of the agreement with Alexkor requires that it processes the diamond gravels and undertakes all diamond sales, but with Alexkor's Muisvlak processing plant operating sporadically, the ability to process diamond gravel and, accordingly, produce diamonds for sale has been greatly constrained.

In the past Deep Blue agreed to take on the task of getting the Muisvlak plant running as, without it, neither Deep Blue nor the majority of the other contractors in the area have a way of processing their diamonds. Deep Blue was successful in doing this but was forced to withdraw its assistance due to political and economic factors.

The use of the pulsating diamond jig, which has been approved by Alexkor, is an attempt to unblock the diamond mining process for Deep Blue by bypassing the Muisvlak plant completely and allowing Deep Blue to deliver only very high concentrate diamond gravels to Alexkor for final sorting.

The Company anticipates that this equipment will be in operation early in 2024 and will allow a quick ramp up in production and positive cash flow.