Fifth Batch of Drill Results from Lithium Ridge

Andrada Mining Limited

06 October 2026

 

6 October 2026                                                                               

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (MAR) as in force in the United Kingdom pursuant to the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via Regulatory Information Service (RIS), this inside information will be in the public domain.

Andrada Mining Limited

("Andrada" or the "Company")

Fifth Batch of Drill Results from Lithium Ridge

Significant High Grade Lithium Intersections from Multiple Pegmatites

Andrada Mining Limited (AIM: ATM, OTCQB: ATMTF), a tin producer with a portfolio of critical minerals mining and exploration assets in Namibia, is pleased to announce assay results for the fifth batch of exploration Diamond Drill (“DD”) holes from the Lithium Ridge Project ("LR" or the "Project"). This latest batch of data confirms substantial down-dip continuity and structural thickening of the targeted pegmatite swarms. The results demonstrate high-grade lithium alongside pervasive tin (Sn) and tantalum (Ta) mineralisation within the sub-intervals reported as ‘including’. The potential production of multiple revenue-generating commodities will enhance overall project economics and improve the effective cost position of the operation, albeit subject to further metallurgical testwork and economic evaluation. The Project is being advanced under a strategic earn-in partnership with SQM International ("SQM"), one of the world’s leading lithium producers.

HIGHLIGHTS

     Significant lithium mineralisation within multiple drill holes, including:

−     Drill hole LRD045: 34.90m @ 1.02% Li2O from 184.42m to 219.32m.

      Including 6.22m @ 1.67% Li2O from 192.62m to 198.84m.

−     Drill hole LRD060: 10.66m @ 1.13% Li2O from 0.90m to 11.56m.

      Including 4.79m @ 2.04% Li2O from 4.81m to 9.60m.

−     Drill hole LRD042: 9.03m @ 1.64% Li2O from 63.83m to 72.86m.

      Including 5.44m @ 1.84% Li2O from 67.13m to 72.57m.

−     Drill hole LRD066: 11.35m @ 1.16% Li2O from 34.16m to 45.51m.

      Including 4.64m @ 1.79% Li₂O from 37.18m to 41.82m.

      Polymetallic mineralisation: Associated tin and tantalum mineralisation remains pervasive across the pegmatite bodies, with localised zones such as 0.25 m at 1.03% Sn and 227ppm Ta in hole LRD061, 0.95 m at 0.57% Sn in LRD074, and 0.36 m at 604 ppm Ta in LRD045.

      Additional mineralisation confirmed within the license area: Multiple drill holes (LRD064, LRD066, and LRD072) confirm consistent high-grade mineralisation within a newly identified pegmatite that occurs outside the LR trendline.  

Anthony Viljoen, Chief Executive Officer, commented:

“This fifth batch of results demonstrates the presence of high-grade intersections confirming that we are still uncovering the full potential of the Lithium Ridge licence. Multiple pegmatites in this batch have returned intersections exceeding 1.5% Li₂O. These results also confirm that newly identified pegmatites beyond the main mineralised trend at Lithium Ridge also contain substantial lithium mineralisation. This highlights the upside potential that remains to be explored across the licence.”

RESULTS Overview

These results represent the fifth batch of drill samples completed under the Stage 1 Earn-In Agreement with SQM. Table 1 below contains the results of 23 drill holes that successfully intersected mineralisation, demonstrating that mineralisation occurs both near surface and extending to depths of up to 275 metres. The results also confirm the presence of lithium mineralisation beyond the main Lithium Ridge trendline. While the grab sampling programme provided an initial indication of the lithium potential of these additional targets, the drill results confirm that the pegmatites continue at depth and retain significant lithium grades. The potential of these additional targets will be further investigated during the next stage of development.

Geologically, defining the extent of mineralised pegmatites within the swarm provides critical data for future exploration planning. Six drill holes, namely, LRD058, LRD065, LRD076, LRD082, LRD095, and LRD101, either did not intersect significant pegmatite lithologies or intersected intervals that did not meet the minimum reporting economic cut-off threshold. Each reported pegmatite interval is required to meet at least one of the following metal content thresholds: >0.25% Li₂O, >0.1% Sn or >99 ppm Ta. These specific holes will be utilised to delineate the spatial limits of the mineralised units and to refine the 3D geological model, thereby increasing geological confidence for future resource delineation.

Reporting Methodology

The holes were drilled at inclined angles to the horizontal and, accordingly, the reported intersections are considered to represent apparent widths rather than true thicknesses. Downhole orientation surveys were conducted using a magnetic deviation probe, with readings collected at two metre intervals as drilling progressed. Each hole was also surveyed in full following completion of drilling. Drill collar locations were surveyed using a handheld GPS.

The holes are reported as ‘Whole Intersections’ in Table 1, representing the pegmatite intersection from the upper to the lower contact. Where these intersections contain schistose xenoliths, the reported grades reflect the metal content of the pegmatite only and exclude the schistose intervals. Intersections reported as ‘Including’ represent selected higher-grade zones within the total pegmatite intersection. Consistent with previous batches of Lithium Ridge drill results, spodumene is the primary lithium-bearing mineral identified within these intersections. The associated presence of coincident tin and tantalum mineralisation further demonstrates the polymetallic nature of the LR pegmatites, enabling the Company to leverage its existing metallurgical processing expertise to maximise resource extraction.

Sampling and Analysis

Drill holes were collared at inclined angles ranging from -45 to -75 degrees to intersect the pegmatite bodies as close to perpendicular as practicable. Drill core was geologically and structurally logged, cut into quarter core samples and dispatched to certified independent preparation and analytical laboratories.

Sample preparation was undertaken by SA Labs Ithuba, with chemical analyses performed by UIS Analytical Services. Lithium and major elements were analysed using sodium peroxide fusion followed by an ICP-OES finish, while tin, tantalum, and trace elements were analysed using lithium borate fusion followed by an ICP-MS finish. Comprehensive QA/QC protocols were maintained throughout the drilling, sampling and analytical programmes. No top cut was applied when calculating the reported weighted average grades for mineralised intersections within the pegmatites.

Table 1: Results for intersected mineralised pegmatites with the intersection depths, lengths and grades reported. Intersections described as 'Including' refer to a portion of the whole pegmatite intersection with significant metal values. The reported intersections are indicative of apparent thickness, which is greater than true thickness.

Hole ID	Dip Angle (Degrees)	Intersection Type	From - To (metres)	Length (metres)		Grade
						Li₂O (%)		Sn (%)		Ta (ppm)
LRD042	-50	Whole Intersection	48.82 - 49.07	0.25		0.12		0.08		214
		Whole Intersection	54.93 - 55.18	0.25		0.06		0.04		129
		Whole Intersection	61.46 - 62.67	1.21		0.52		0.21		136
		Whole Intersection	63.27 - 63.52	0.25		0.47		0.08		182
		Whole Intersection	63.83 - 72.86	9.03		1.64		0.21		101
		Including	67.13 - 72.57	5.44		1.84		0.20		93
		Whole Intersection	73.11 - 73.79	0.68		1.41		0.17		181
		Whole Intersection	76.04 - 76.29	0.25		0.41		0.10		75
		Whole Intersection	76.70 - 79.62	2.92		0.79		0.16		121
		Whole Intersection	80.29 - 81.44	1.15		0.43		0.09		222
		Whole Intersection	81.83 - 82.47	0.64		0.57		0.11		191
		Whole Intersection	88.48 - 92.29	3.81		1.07		0.17		139
		Whole Intersection	95.23 - 95.65	0.42		0.06		0.11		199
		Whole Intersection	97.08 - 102.10	5.02		0.66		0.12		125
		Whole Intersection	102.53 - 103.22	0.69		0.33		0.11		100
		Whole Intersection	103.59 - 106.74	3.15		1.05		0.13		56
		Whole Intersection	107.44 - 107.81	0.37		0.15		0.10		59
		Whole Intersection	114.23 - 117.46	3.23		0.98		0.14		64
		Whole Intersection	117.94 - 118.19	0.25		0.10		0.24		50
		Whole Intersection	132.02 - 133.12	1.10		0.16		0.11		49
		Whole Intersection	134.42 - 144.31	9.89		1.28		0.13		54
		Including	134.86 - 136.99	2.13		1.65		0.09		39
		Whole Intersection	147.61 - 153.66	6.05		0.61		0.13		41
LRD043	-45	Whole Intersection	17.05 - 17.35	0.30		0.02		0.13		101
		Whole Intersection	37.04 - 37.56	0.52		0.02		0.17		56
		Whole Intersection	112.53 - 113.19	0.66		0.06		0.11		65
LRD045	-75	Whole Intersection	72.93 - 73.29	0.36		0.01		0.02		604
		Whole Intersection	73.96 - 74.82	0.86		0.01		0.01		255
		Whole Intersection	76.29 - 76.77	0.48		0.01		0.02		199
		Whole Intersection	166.47 - 167.08	0.61		0.07		0.08		139
		Whole Intersection	169.86 - 170.86	1.00		0.36		0.04		39
		Whole Intersection	171.37 - 174.19	2.82		0.95		0.11		99
		Whole Intersection	175.78 - 176.07	0.29		0.31		0.04		38
		Whole Intersection	176.68 - 177.00	0.32		0.15		0.05		140
		Whole Intersection	177.80 - 178.05	0.25		0.14		0.06		109
		Whole Intersection	182.95 - 183.55	0.60		0.66		0.10		153
		Whole Intersection	184.42 - 219.32	34.90		1.02		0.13		91
		Including	192.62 - 198.84	6.22		1.67		0.19		97
		Whole Intersection	219.64 - 220.61	0.97		0.55		0.14		100
		Whole Intersection	221.00 - 221.25	0.25		0.35		0.03		66
		Whole Intersection	231.17 - 235.43	4.26		0.67		0.17		60
		Whole Intersection	243.75 - 259.38	15.63		0.68		0.10		47
		Including	245.71 - 247.85	2.14		1.34		0.07		94
		Whole Intersection	259.67 - 259.94	0.27		0.11		0.16		46
		Whole Intersection	273.21 - 275.13	1.92		0.07		0.11		36
LRD056	-45	Whole Intersection	12.28 - 14.21	1.93		0.02		0.13		74
		Whole Intersection	34.75 - 40.16	5.41		1.18		0.16		40
		Including	35.60 - 39.91	4.31		1.46		0.15		36
LRD059	-50	Whole Intersection	43.23 - 45.49	2.26		0.05		0.12		77
		Whole Intersection	59.77 - 60.02	0.25		0.04		0.03		126
		Whole Intersection	66.83 - 68.82	1.99		0.10		0.44		105
LRD060	-45	Whole Intersection	0.90 - 11.56	10.66		1.13		0.09		30
		Including	4.81 - 9.60	4.79		2.04		0.10		27
		Whole Intersection	37.81 - 40.67	2.86		0.18		0.10		102
		Whole Intersection	90.74 - 93.09	2.35		0.12		0.14		29
LRD061	-60	Whole Intersection	4.07 - 4.32	0.25		0.10		0.02		317
		Whole Intersection	9.99 - 10.24	0.25		0.03		1.03		227
		Whole Intersection	25.47 - 29.46	3.99		2.11		0.14		157
		Whole Intersection	32.35 - 33.66	1.31		0.99		0.12		81
		Whole Intersection	48.86 - 49.11	0.25		0.08		0.09		106
		Whole Intersection	50.90 - 51.41	0.51		0.06		0.03		258
		Whole Intersection	64.49 - 67.34	2.85		0.69		0.20		62
Hole ID	Dip Angle (Degrees)	Intersection Type	From - To (metres)	Length (m)	Grade
					Li₂O (%)		Sn (%)		Ta (ppm)
LRD063	-60	Whole Intersection	40.19 - 56.62	16.43	1.07		0.14		71
		Whole Intersection	61.81 - 62.10	0.29	0.10		0.07		151
		Whole Intersection	75.38 - 75.53	0.15	0.08		0.03		194
		Whole Intersection	83.38 - 84.17	0.79	0.07		0.13		124
LRD064	-60	Whole Intersection	12.54 - 23.66	11.12	1.11		0.18		39
		Including	14.36 - 18.36	4.00	1.73		0.26		42
LRD066	-45	Whole Intersection	34.16 - 45.51	11.35	1.16		0.14		49
		Including	37.18 - 41.82	4.64	1.79		0.16		67
LRD067	-45	Whole Intersection	47.00 - 47.29	0.29	0.03		0.02		172
		Whole Intersection	59.61 - 61.18	1.57	0.05		0.16		62
		Whole Intersection	61.91 - 63.65	8.04	0.08		0.02		13
		Whole Intersection	85.79 - 86.66	0.87	0.11		0.15		60
		Whole Intersection	86.98 - 87.41	0.43	0.14		0.10		86
		Whole Intersection	125.25 - 125.54	0.29	0.07		0.02		106
LRD068	-45	Whole Intersection	5.81 - 6.55	0.74	0.20		0.23		213
		Whole Intersection	11.93 - 12.42	0.49	0.10		0.23		116
		Whole Intersection	12.72 - 13.78	1.06	0.07		0.39		121
		Whole Intersection	33.42 - 33.92	0.50	0.00		0.08		101
LRD069	-45	Whole Intersection	24.26 - 25.10	0.84	0.05		0.10		87
		Whole Intersection	66.28 - 71.34	5.06	0.26		0.15		44
LRD070	-45	Whole Intersection	109.97 - 110.48	0.51	0.04		0.02		100
		Whole Intersection	116.35 - 116.89	0.54	0.04		0.03		101
LRD072	-60	Whole Intersection	38.95 - 53.20	14.25	1.42		0.17		39
		Including	40.09 - 48.32	8.23	1.61		0.23		37
LRD073	-45	Whole Intersection	19.69 - 20.15	0.46	0.02		0.20		68
		Whole Intersection	33.86 - 34.11	0.25	0.02		0.08		140
		Whole Intersection	49.45 - 49.78	0.33	0.03		0.06		105
		Whole Intersection	107.17 - 107.42	0.25	0.02		0.03		101
		Whole Intersection	149.24 - 154.58	5.34	0.44		0.05		22
LRD074	-45	Whole Intersection	33.80 - 34.75	0.95	0.10		0.57		117
		Whole Intersection	35.80 - 36.85	1.05	0.03		0.18		44
		Whole Intersection	40.47 - 42.02	1.55	0.06		0.05		100
LRD077	-50	Whole Intersection	14.50 - 22.10	7.60	0.56		0.07		59
		Including	17.20 - 18.54	1.34	1.18		0.21		67
LRD080	-60	Whole Intersection	16.90 - 29.48	12.58	0.41		0.03		56
		Including	27.09 - 29.09	2.00	1.41		0.02		94
LRD083	-60	Whole Intersection	9.03 - 9.61	0.58	0.01		0.01		219
		Whole Intersection	71.83 - 76.85	5.02	0.37		0.02		18
		Whole Intersection	77.58 - 77.83	0.25	0.32		0.02		59
		Whole Intersection	78.35 - 81.50	3.15	0.25		0.03		30
		Whole Intersection	103.84 - 104.24	0.40	0.02		0.02		124
LRD084	-60	Whole Intersection	6.19 - 6.44	0.25	0.02		0.38		117
		Whole Intersection	35.06 - 39.54	4.48	0.11		0.10		35
LRD099	-50	Whole Intersection	35.04 - 35.52	0.48	0.02		0.02		112
LRD102	-45	Whole Intersection	10.33 - 10.80	0.47	0.03		0.02		208
		Whole Intersection	25.05 - 25.91	0.86	0.12		0.12		98
		Whole Intersection	30.18 - 31.29	1.11	1.24		0.16		107
		Whole Intersection	31.69 - 32.16	0.47	0.95		0.23		116
		Whole Intersection	32.47 - 32.96	0.49	0.81		0.12		58
		Whole Intersection	33.32 - 34.11	0.79	0.70		0.21		99
		Whole Intersection	36.38 - 43.64	7.26	0.39		0.12		44
		Including	40.89 - 41.87	0.98	1.07		0.07		18
		Whole Intersection	43.98 - 44.26	0.28	0.99		0.12		28
		Whole Intersection	44.59 - 45.42	0.83	0.26		0.17		37
		Whole Intersection	46.12 - 48.37	2.25	0.28		0.12		32
		Whole Intersection	55.15 - 57.93	2.78	0.06		0.17		79
		Whole Intersection	85.07 - 85.32	0.25	0.09		0.03		122
		Whole Intersection	88.06 - 88.84	0.78	0.02		0.10		133
		Whole Intersection	110.11 - 110.36	0.25	0.05		0.03		205

Figure 1: Locations of the current and historically completed programmes. The diamond drill holes are from this campaign and the reverse circulation drill holes (green triangles) were completed during the 2023 campaign. The line A-A’ represents the cross section in Figure 2 below.

Figure 2: Section line A-A' displaying a projection of the diamond drill holes, LRD035, LRD042 and LRD045, for which results are reported in this announcement. Selected mineralised intersections from LRD042 and LRD045 are reported in Table 1, with the intersections for LRD035 having been reported previously.

CompetenT Person

The technical data in this announcement has been reviewed by Professor Laurence Robb ("Prof. Robb"). Prof. Robb has over 30 years industry-related exploration and economic geology experience and is a Competent Person for the reporting of exploration results. He has reviewed both the technical disclosures in this release and QA/QC protocols and results for this programme. As previously announced, the Company will continue to provide regular updates as significant results are received and milestones achieved.

Glossary of abbreviations

%	Symbol for percentage
DD	Diamond Drill
ICP-MS	Inductively Coupled Plasma-Mass Spectrometry
ICP-OES	Inductively Coupled Plasma-Optical Emission Spectrometry
Li	Symbol for lithium
Li → Li₂O	Metal to metal-oxide conversion factor of 2.153
Li₂O	Lithium oxide
PPM	Parts Per Million
QA/QC	Quality Assurance / Quality Control
Sn	Symbol for tin
Ta	Symbol for tantalum

Glossary of technical Terms

Apparent thickness	The relationship between apparent width and true thickness is based on the formula by Addie (1968 Economic Geology, vol 63, pp 188-189).
Dip angle	The angle of inclination measured downward from horizontal.
Geological model	The interpretation of mineralisation and geology that controls the shape of the mineralised unit. This is usually generated in a three-dimensional computer environment.
Pegmatite	An igneous rock typically of granitic composition, which is distinguished from other igneous rocks by the extremely coarse size of its crystals, or by an abundance of crystals with skeletal, graphic, or other strongly directional growth habits, or by a prominent spatial zonation of mineral assemblages.
Xenolith	A foreign rock fragment (e.g., schist) within an intrusive body (e.g., pegmatite) that is unrelated to the igneous body.

CONTACTS Andrada Mining Limited Anthony Viljoen, CEO Sakhile Ndlovu, Head of Investor Relations	[phone]
NOMINATED ADVISOR & BROKER
Zeus Capital Limited Katy Mitchell Andrew de Andrade Harry Ansell	[phone]
CORPORATE BROKER & ADVISOR
H&P Advisory Limited Andrew Chubb Matt Hasson	[phone]
VSA Capital   Andrew Monk   Brian Wong	[phone]
FINANCIAL PUBLIC RELATIONS
Tavistock Emily Moss Abigail Gilchrist	[phone] [e-mail]

 

About Andrada Mining Limited

Andrada Mining Limited, listed on the London Stock Exchange's AIM market, is a tin producer with a portfolio of critical metal mining and exploration assets in Namibia, a premier investment destination in Africa. The Company's strategy focuses on unlocking Namibia's abundant mineral resources through best-in-class strategic partnerships across its resource base. Andrada has evolved from a tin producer into a diversified critical minerals company with three distinct but complementary value centres, namely Uis, the producing foundation of the Company, Lithium Ridge, an increasingly significant lithium opportunity being advanced with SQM, and Brandberg West, a historically producing tin and tungsten asset with significant tungsten, tin and copper potential being developed in partnership with BWCAM. Across the portfolio, Andrada has exposure to tin, lithium, tungsten, copper and tantalum, metals that are becoming increasingly important to global energy security, advanced technology, artificial intelligence infrastructure, electrification and defence

 

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