Amendment to Sarawak Capital Raise

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.

Date 26 ^th October 2022

UPLAND RESOURCES LIMITED

("Upland" or the "Company")

Amendment to Sarawak Capital Raise

Upland Resources Limited (LSE: UPL), the oil and gas company with a portfolio of attractive upstream assets and opportunities in Sarawak, the UK North Sea and Tunisia announces that further to the RNS issued on 25^th October 2022, that demand has been strong and that management will forego its participation in this financing to allow new shareholders to invest.

Management may participate in future fundraisings as appropriate to do so.

*ENDS*

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