Lithium Ridge Drill Results

Andrada Mining Limited

26 August 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")

Further High-Grade Lithium Results Confirmed in the Fourth Batch of Drill Results from Lithium Ridge

Mineralisation at 2% Li₂O over 24 metres

Andrada Mining Limited (AIM: ATM, OTCQB: ATMTF), a tin producer with a portfolio of critical metals mining and exploration assets in Namibia is pleased to announce the fourth batch of results comprising 14 Diamond Drill ("DD") holes from the Lithium Ridge Project ("LR" or the "Project"). These results show significant high-grade lithium mineralisation along strike and continuity at depth, alongside consistent tin and tantalum enrichment. This highlights the scale and robust polymetallic economic potential of the Project as it is advanced in partnership with SQM International ("SQM").

HIGHLIGHTS

·    High-grade lithium mineralisation confirmed across multiple drill holes, including:

-     Drill hole LRD097: 35.59m @ 1.52% Li₂O from 231.80m to 267.39m.

o Including 24.08m @ 2.00% Li₂O from 233.04m to 257.12m.

-     Drill hole LRD093: 30.24m @ 1.23% Li₂O from 125.18m to 155.42m.

o Including 9.65m @ 1.83% Li₂O from 138.02m to 147.67m.

-     Drill hole LRD054: 10.93m @ 0.67% Li₂O from 75.06m to 85.99m.

o Including 2.03m @ 1.93% Li₂O from 80.50m to 82.53m.

-     Drill hole LRD036: 6.67m @ 1.11% Li₂O from 29.05m to 35.72m.

o Including 4.23m @ 1.62% Li₂O from 29.77m to 34.00m.

·  Valuable polymetallic co-products: Consistent associated tin and tantalum mineralisation confirmed across all holes, potentially enhancing project economics through potential polymetallic revenue streams

-     Drill hole LRD041: 7.49m @ 0.44% Sn and 134ppm Ta.

Anthony Viljoen, Chief Executive Officer, commented:

"Once again, these exceptional drill results confirm the world-class potential of our Lithium Ridge asset, which we are developing in tandem with our partners SQM. Intersecting over 24 metres at 2.00% Li₂O in drill hole LRD097 is a milestone achievement that fundamentally enhances the scale and grade profile of the asset, showing continued potential at depth. The persistent presence of high-grade tin and tantalum co-products, such as the 0.44% tin intersection over 7.49 metres in hole LRD041 indicates an economic advantage that sets Andrada apart from single-commodity lithium developers. These polymetallic credits have the potential to significantly reduce overall operating costs, validating our aggressive exploration focus and ultimately reinforcing Namibia's position as a premier critical metal jurisdiction."

RESULTS OVERVIEW

The current DD campaign at Lithium Ridge (ML133) is designed to test the down-dip continuity and grade distribution of the outcropping pegmatite swarms identified during previous channel sampling and mapping programmes. This batch of results successfully demonstrates that the mineralised pegmatite bodies continue at depth with areas of significant lithium enrichment. The presence of robust tin and tantalum grades within the same pegmatites underscores the polymetallic endowment of the license area. This allows Andrada to leverage its existing processing expertise to maximize resource extraction and project economics.

The results are for an additional fourteen drill holes. The holes are reported as 'Whole Intersections' in Table 1, representing pegmatite intersections from the top to the bottom contact. Where these intersections contain schistose xenoliths, the reported grades reflect the metal content of the pegmatite only, excluding the schistose intervals. Intersections reported as "including" represent selected higher-grade zones within the total pegmatite intersection. Spodumene has been visually identified as the primary lithium-bearing mineral by the project geological team.

Reporting Methodology

The boreholes were drilled at inclined angles to the horizontal and, accordingly, the reported intersections are considered to represent apparent widths rather than true thicknesses. Pegmatite intersections that did not meet at least one of the following metal content cut-off criteria (>0.25% Li₂O, >0.1% Sn or >99ppm Ta) have not been reported as they are currently regarded as economically insignificant. Downhole orientation surveys were conducted at regular intervals for each hole as the drilling was advancing and were surveyed in totality once drilling was completed. The surveys were conducted using a magnetic deviation probe that collected readings at two metre intervals. Drill collar locations were surveyed using a handheld GPS.

Sampling and Analysis

Individual drill holes were geologically and structurally logged prior to being cut and sampled as quarter core. The sampling programme followed geological contacts while simultaneously maintaining consistency in data and sample representativity. Sample lengths ranged from 25 cm to 125 cm, where practicable. The samples were submitted to independent and certified laboratories, namely SA Labs Ithuba for pulverisation and homogenisation, and the pulps were subsequently dispatched to UIS Analytical Services for chemical analysis. Lithium and other related major elements were analysed using sodium peroxide fusion by ICP-OES, while tin, tantalum and other trace elements were analysed using lithium borate fusion by ICP-MS. No top cut was applied in calculating the weighted average grades for mineralised intersections within the pegmatites.

Table 1: Results of the 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 (m)	Grade
					Li₂O (%)	Sn (%)	Ta (ppm)
LRD030	-50	Whole Intersection	14.96 - 15.30	0.34	0.02	0.13	130
		Whole Intersection	31.12 - 32.06	0.94	0.29	0.11	287
		Whole Intersection	88.75 - 92.07	3.32	1.04	0.14	164
		Whole Intersection	95.88 - 98.02	2.14	0.53	0.41	164
		Whole Intersection	100.75 - 102.96	2.21	1.05	0.28	70
		Whole Intersection	104.54 - 106.66	2.12	0.95	0.35	74
		Whole Intersection	107.45 - 110.21	2.76	1.04	0.14	52
		Whole Intersection	113.76 - 115.62	1.86	0.93	0.15	37
		Whole Intersection	115.87 - 116.80	0.93	1.04	0.06	47
		Whole Intersection	117.52 - 118.06	0.54	0.98	0.14	37
		Whole Intersection	118.34 - 119.65	1.31	0.33	0.23	80
		Whole Intersection	120.20 - 121.53	1.33	0.32	0.12	42
		Whole Intersection	150.61 - 152.77	2.16	0.26	0.09	53
		Whole Intersection	171.79 - 172.74	0.95	0.02	0.19	57
		Whole Intersection	182.80 - 183.73	0.93	0.04	0.02	39
LRD034	-60	Whole Intersection	3.73 - 4.83	1.10	0.02	0.16	85
		Whole Intersection	23.39 - 23.64	0.25	0.04	0.01	78
		Whole Intersection	25.57 - 26.49	0.92	0.08	0.11	76
		Whole Intersection	29.81 - 33.12	3.31	0.30	0.23	86
		Whole Intersection	41.35 - 41.60	0.25	0.02	0.01	96
LRD035	-60	Whole Intersection	0.50 - 0.70	0.20	0.02	0.13	66
		Whole Intersection	16.53 - 29.95	13.42	1.15	0.16	60
		Including	17.98 - 27.00	9.02	1.38	0.15	54
		Whole Intersection	57.82 - 71.83	14.01	0.65	0.14	62
		Including	63.59 - 69.90	6.31	1.20	0.17	49
LRD036	-60	Whole Intersection	12.20 - 14.31	2.11	0.20	0.17	202
		Whole Intersection	29.05 - 35.72	6.67	1.11	0.17	65
		Including	29.77 - 34.00	4.23	1.62	0.20	61
		Whole Intersection	65.59 - 65.89	0.30	0.04	0.14	147
LRD038	-50	Whole Intersection	59.47 - 59.91	0.44	0.03	0.34	108
LRD040	-45	Whole Intersection	16.49 - 16.75	0.26	0.13	0.12	180
		Whole Intersection	22.73 - 23.65	0.92	0.25	0.98	249
		Whole Intersection	54.90 - 55.25	0.35	0.03	0.02	147
		Whole Intersection	92.75 - 93.43	0.68	0.25	0.11	196
		Whole Intersection	149.90 - 150.20	0.30	0.06	0.30	109
		Whole Intersection	156.89 - 157.22	0.33	0.05	0.19	53
		Whole Intersection	158.96 - 160.90	1.94	0.23	0.21	98
		Whole Intersection	181.27 - 181.99	0.72	0.03	0.29	103
LRD041	-90	Whole Intersection	26.21 - 33.70	7.49	0.39	0.44	134

 

Hole ID	Dip Angle (Degrees)	Intersection Type	From - To (metres)	Length (m)	Grade	Grade	Grade
					Li₂O (%)	Sn (%)	Ta (ppm)
LRD044	-45	Whole Intersection	2.55 - 3.38	0.83	0.20	0.17	151
		Whole Intersection	3.85 - 4.20	0.35	1.48	0.18	75
		Whole Intersection	8.17 - 10.48	2.31	0.29	0.08	155
		Whole Intersection	11.64 - 11.99	0.35	0.16	0.13	235
		Whole Intersection	14.72 - 27.45	12.73	0.77	0.14	129
		Including	15.63 - 19.54	3.91	1.40	0.14	144
		Whole Intersection	28.22 - 28.74	0.52	0.27	0.08	96
		Whole Intersection	43.73 - 44.37	0.64	0.12	0.17	103
		Whole Intersection	45.26 - 46.31	1.05	0.24	0.11	73
		Whole Intersection	74.64 - 75.42	0.78	0.11	0.10	65
		Whole Intersection	90.19 - 91.04	0.85	0.07	0.11	63
		Whole Intersection	105.69 - 106.28	0.59	0.06	0.32	110
		Whole Intersection	136.69 - 141.17	4.48	0.20	0.17	84
		Whole Intersection	155.58 - 157.24	1.66	0.46	0.13	83
		Whole Intersection	157.95 - 162.33	4.38	1.20	0.16	79
		Including	158.58 - 160.58	2.00	1.64	0.15	84
		Whole Intersection	191.36 - 192.02	0.66	0.02	0.19	100
LRD046	-60	Whole Intersection	25.21 - 26.26	1.05	0.22	0.05	745
		Whole Intersection	29.83 - 30.93	1.10	1.64	0.03	143
		Whole Intersection	32.70 - 33.81	1.11	0.22	0.27	355
LRD054	-60	Whole Intersection	14.47 - 18.53	4.06	0.56	0.18	89
		Whole Intersection	75.06 - 85.99	10.93	0.67	0.15	73
		Including	80.50 - 82.53	2.03	1.93	0.10	77
LRD055	-60	Whole Intersection	2.65 - 2.93	0.28	0.27	0.12	610
LRD057	-50	Whole Intersection	15.58 - 20.10	4.52	1.20	0.17	65
LRD093	-45	Whole Intersection	125.18 - 155.42	30.24	1.23	0.13	64
		Including	138.02 - 147.67	9.65	1.83	0.13	63
		Whole Intersection	157.31 - 162.38	5.07	0.30	0.06	23
LRD097	-60	Whole Intersection	185.88 - 186.18	0.30	0.01	0.01	135
		Whole Intersection	213.17 - 214.30	1.13	0.23	0.05	82
		Whole Intersection	216.82 - 218.18	1.36	0.36	0.25	112
		Whole Intersection	220.20 - 220.45	0.25	0.26	0.11	102
		Whole Intersection	222.28 - 222.60	0.32	0.44	0.12	121
		Whole Intersection	223.41 - 224.31	0.90	0.91	0.12	123
		Whole Intersection	224.63 - 225.19	0.56	1.11	0.10	93
		Whole Intersection	225.53 - 226.14	0.61	0.76	0.04	108
		Whole Intersection	227.38 - 227.67	0.29	0.11	0.08	120
		Whole Intersection	229.10 - 229.38	0.28	0.11	0.02	127
		Whole Intersection	231.80 - 267.39	35.59	1.52	0.13	66
		Including	233.04 - 257.12	24.08	2.00	0.15	73

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, LRD093 and LRD097, for which results are reported in this announcement. The mineralised intersections from LRD093 and LRD097 are reported in Table 1.

CompetenT Person

The technical data in this announcement has been reviewed by Professor Laurence Robb ("Prof. Robb"), who is a non-executive director of Andrada. 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 as well as the quality assurance protocols (QA/QC) 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 Josephine Clerkin	[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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