Expiration of Warrants

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN

This announcement is not an offer for sale, or a solicitation of an offer to acquire, securities in any jurisdiction, including in or into the United States, Canada, Australia, or Japan. Neither this announcement nor any part of it shall form the basis of or be relied on in connection with or act as an inducement to enter into any contract or commitment whatsoever.

3 March 2025

UPLAND RESOURCES LIMITED

("Upland" or the "Company")

Expiration of Warrants

Upland Resources Limited (LSE: UPL) is pleased to announce that, further to its RNS dated 28 February 2025 and prior to closing on Friday, it received exercise notices for an additional 4,166,667 warrants, which were issued on 28 February 2023. These exercises bring the total number of warrants exercised to 51,152,777.

The warrant exercises have generated gross proceeds of £613,833.

In light of the trading restrictions that apply during closed periods, the Company has resolved to extend the exercise period for warrants held by officers and directors. The extension, which applies for an additional six months, pertains to a total of 7,979,167 warrants.

All other remaining warrants have now expired.

Bolhassan Di, Upland Chairman and CEO commented:

"We appreciate the continued support from shareholders, this alongside recent raises ensure the company maintains a strong cash position throughout 2025."

Admission

Admission of new Ordinary Shares to the Official List (standard listing segment) and to trading on the London Stock Exchange's Main Market is expected within 7 days from the date of submission of the listing application.

Total voting rights

Following the warrant exercise, the Company's total number of Ordinary Shares in issue will be 1,420,958,048. This figure 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.

**ENDS**

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