Company Announcements

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR PUBLICATION, RELEASE OR DISSEMINATION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN THE UNITED STATES, AUSTRALIA, CANADA, HONG KONG, JAPAN, NEW ZEALAND, THE REPUBLIC OF SOUTH AFRICA, SINGAPORE, SWITZERLAND OR ANY OTHER JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF THE SECURITIES LAWS OF SUCH JURISDICTIONS.

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE OR CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION, OFFER OR ADVICE TO ANY PERSON TO SUBSCRIBE FOR, OTHERWISE ACQUIRE OR DISPOSE OF ANY SECURITIES IN UPLAND RESOURCES LIMITED OR ANY OTHER ENTITY IN ANY JURISDICTION. NEITHER THIS ANNOUNCEMENT NOR THE FACT OF ITS DISTRIBUTION, SHALL FORM THE BASIS OF, OR BE RELIED ON IN CONNECTION WITH ANY INVESTMENT DECISION IN RESPECT OF UPLAND RESOURCES LIMITED.

23 February 2023

UPLAND RESOURCES LIMITED

("Upland" or the "Company")

Publication of Prospectus

Upland Resources Limited (LSE: UPL) is pleased to announce that its prospectus (the "Prospectus") has been approved by the Financial Conduct Authority ("FCA") and has been published by the Company today. The Prospectus is available for viewing on the Company's website at https://uplandres.com/documents/

The Prospectus relates to the admission of 283,000,000 of the Company's shares to the Standard Segment of the Official List and to trading on the London Stock Exchange plc's Main Market for listed securities ("Admission"). This is in connection with the previously announced fundraise ("the Fundraise") by way of direct subscription with investors ("the Subscription") and placing ("the Placing"), which raised gross proceeds of approximately £1.698 million at a price of 0.6p per new ordinary shares ("Fundraising Price") of no par value in the capital of the Company ("Ordinary Shares").  The Company expects to make a further announcement tomorrow concerning the subscription by certain directors and managers for new ordinary shares at price of 0.6p per new ordinary share.

It is expected that Admission will become effective and that dealings in the Company's shares on the Main Market will commence at 8.00 a.m. (London time) on 28 February 2023.

A copy of the Prospectus will be submitted to the National Storage Mechanism by the FCA after 6pm tomorrow and will be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

**ENDS**

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