Issue of New Ordinary Shares

Upland Resources Limited (LSE: UPL) is pleased to announce that following the announcement on 26 April 2024 in respect of a placing which has raised gross proceeds of US$4 million at a price of 3.3 pence per new ordinary share ("Placing"), the Company is pleased to announce that it has applied for the admission of 96,927,000 new ordinary shares in respect of the Placing. Admission of the 96,927,000 ordinary shares to the Official List (standard listing segment) and to trading on the London Stock Exchange is expected on or around 16 May 2024 ("Admission"). The Company is pleased to attract new institutional shareholders through the Placing and intends to use the funds to support the long term aims of the Company.

On Admission of the 96,927,000 ordinary shares, the Company's total number of ordinary shares in issue will be 1,308,358,069. The figure 1,308,358,069 will represent the total voting rights in the Company and may be used by shareholders as the denominator for the calculation to determine if they are required to notify the Company of their interest in, or a change to their interest in, the Company's securities in accordance with the FCA's Disclosure and Transparency Rules.

OAK Securities is a Corporate Broker in the UK specialising in the natural resources sector. The cornerstone investment was made by a Principle of OAK Securities.

OAK Securities is a trading name of Merlin Partners LLP OC317265. Merlin Partners is Authorised and Regulated by the Financial Conduct Authority: 449191.

Registered Office: 90 Jermyn Street, London SW1Y 6JD, United Kingdom.