Sarawak Drilling Rig Letter of Intent

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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.

15 December 2023

UPLAND RESOURCES LIMITED

("Upland" or the "Company")

Sarawak Drilling Rig Letter of Intent

Upland Resources Limited (LSE: UPL) is pleased to announce that, following a successful week spent in Sarawak, progressing and finalising the PSC framework, and further to the announcement made on 4th December 2023, the company has now signed a specific Letter of Intent (LOI) for the provision of a new generation drilling rig with a distinguished and renowned partner Huisman Geo.

Huisman bring extensive experience in new generation onshore drilling, complementing our team as we complete the next steps.

Bolhassan Di, Upland Chairman and CEO commented:

"Following a fruitful week spent in Sarawak finessing the PSC framework with PETROS, focus is now set on drill preparations, well design and land preparation. We have made tangible progress and laid strong foundations towards our intended drill campaign. We look forward to increased market engagement as we continue to scale up operations on Block SK334 in Sarawak."

Upland Rig visit - Rotterdam

Upland - PETROS - Sarawak

**ENDS**

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