Second Batch of Lithium Ridge Drill Results

Andrada Mining Limited

05 May 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")

Consistent High-Grade Li₂O Lithium Intercepts in the Second Batch Drill Results From Lithium Ridge

Demonstrating Growing Scale, Strong Continuity and Polymetallic Upside Across Multiple Drill Holes

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 a second batch of diamond drilling results from Lithium Ridge ("LR" or the "Project") which continue to confirm the presence of consistent high-grade lithium mineralisation from surface to depth. These results further strengthen confidence in the scale and continuity of the mineralised system, while also confirming the presence of associated tin and tantalum mineralisation.

HIGHLIGHTS

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

−   Drill hole LRD031: 21.33m @ 1.24% Li₂O from 146.18m to 167.51m.

·   Including 7.20m @ 1.99% Li₂O from 154.61m to 161.81m.

−   Drill hole LRD025: 16.24m @ 1.04% Li₂O from 0.87m to 17.11m.

·   Including 8.86m @ 1.63% Li₂O from 7.92m to 16.78m.

−   Drill hole LRD022: 10.87m @ 1.38% Li₂O from 25.68m to 36.55m.

·   Including 7.35m @ 1.68% Li₂O from 27.68m to 35.03m.

−   Drill hole LRD017: 5.88m @ 1.50% Li₂O from 76.50m to 82.38m.

·   including 3.00m @ 1.94% Li₂O from 76.50m to 79.50m.

§ Tin and tantalum upside: associated credits in tin (Sn) and tantalum (Ta) mineralisation confirmed in all reported holes.

§ Expanded drill programme: following strong drill results, the Stage 1 programme under the earn-in agreement with Sociedad Química y Minera de Chile SA through its subsidiary SQM Australia (Pty) Ltd ("SQM") has been extended by approximately 18% to 16 500 metres, to more fully define the scale and continuity of the mineralised system.

§ These results continue to build a scenario that points to a large-scale lithium system within a well-established mining jurisdiction.

Anthony Viljoen, Chief Executive Officer, commented:

"These results continue to strengthen our understanding of Lithium Ridge's pegmatite system, demonstrating consistent mineralisation across multiple drill holes. The combination of scale and grade emerging at this stage is particularly compelling. On the back of these strong results, we have expanded the drilling programme to more fully test the extent of the system and to deepen our understanding of its full value potential, with the objective of accelerating overall project development. Comprising multiple critical minerals, Lithium Ridge is developing into a potentially exciting project within our critical minerals portfolio in Namibia."

RESULTS Overview

The results refer to an additional seven drill holes and 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 geological team on site. Tin and tantalum grades have also been highlighted, as these minerals confirm the fertility of lithium-bearing pegmatites at Lithium Ridge and may provide potential by-product value.

Reporting Methodology

All 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. Pegmatite intersections that do 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 considered as having no economic significance. Two pegmatites were sampled from drill hole LRD033, however the grades reported did not meet the cut off criteria. Downhole orientation surveys were conducted at regular intervals for each hole while the hole was advancing and, further surveyed in totality after drilling was completed. The surveys were conducted using a magnetic deviation probe that collected readings at two metre intervals, and collar locations were surveyed using a handheld GPS.

Sampling and Analysis

Each drill hole was geologically and structurally logged prior to being cut and sampled as quarter core. The sampling programme attempted to follow geological contacts while also maintaining consistency in data representativity. Sampling was undertaken with reference to geological contacts while maintaining consistency in sample representativity. Sample lengths ranged from a minimum of 25 cm to a maximum of 125 cm, where practicable. The samples were submitted to SA Labs Ithuba for pulverisation and homogenisation, and the pulps subsequently dispatched to UIS Analytical Services for chemical analysis. Both laboratories are independent and certified. Lithium and other major elements were analysed using sodium peroxide fusion with ICP-OES, while tin, tantalum and other trace elements were analysed using lithium borate fusion with ICP-MS. No top cut was applied in calculating the weighted average grades for mineralised intersections within the pegmatites.

Programme Expansion

The Stage 1 drill programme (the "Programme") has been expanded to approximately 16 500 metres of orientated diamond core drilling across the license area and extended by an additional three months to further define the depth and continuity extents of the mineralised pegmatites identified at surface.

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)	Grades
					Li₂O (%)	Sn (%)	Ta (ppm)
LRD014	-55	Whole Intersection	8.38 - 13.47	5.09	0.41	0.17	40
		Whole Intersection	14.62 - 15.56	0.94	0.21	0.23	57
		Whole Intersection	123.98 - 128.06	4.08	0.26	0.24	69
LRD015	-60	Whole Intersection	29.77 - 30.14	0.37	0.01	0.06	161
		Whole Intersection	31.22 - 31.51	0.29	0.01	0.05	326
		Whole Intersection	53.24 - 53.49	0.25	0.08	0.07	130
		Whole Intersection	77.76 - 79.83	2.07	0.27	0.05	134
		Whole Intersection	81.23 - 85.26	4.03	1.25	0.11	63
		Including	82.23 - 84.23	2.00	1.55	0.09	56
		Whole Intersection	129.34 - 130.11	0.77	0.17	0.20	145
		Whole Intersection	132.80 - 133.08	0.28	0.26	0.07	176
		Whole Intersection	138.59 - 140.05	1.46	0.70	0.17	82
		Whole Intersection	144.46 - 153.11	8.65	1.58	0.14	58
		Including	147.52 - 150.52	3.00	2.75	0.15	39
LRD017	-55	Whole Intersection	19.09 - 19.68	0.59	0.02	0.09	431
		Whole Intersection	25.84 - 26.10	0.26	0.49	0.19	130
		Whole Intersection	46.91 - 47.75	0.84	0.05	0.29	116
		Whole Intersection	74.11 - 74.50	0.39	0.08	0.05	100
		Whole Intersection	76.50 - 82.38	5.88	1.50	0.11	46
		Including	76.50 - 79.50	3.00	1.94	0.09	47
LRD019	-60	Whole Intersection	55.31 - 55.56	0.25	0.03	0.03	191
		Whole Intersection	60.85 - 61.10	0.25	0.20	0.13	86
		Whole Intersection	62.50 - 66.60	4.10	0.62	0.17	80
		Whole Intersection	67.07 - 67.32	0.25	0.17	0.10	118
		Whole Intersection	67.95 - 68.35	0.40	0.08	0.04	280
		Whole Intersection	68.70 - 72.05	3.35	1.41	0.18	94
		Including	69.70 - 71.70	2.00	1.80	0.10	96
		Whole Intersection	83.98 - 86.54	2.56	0.80	0.29	195
		Whole Intersection	87.12 - 87.63	0.51	0.13	0.09	123
		Whole Intersection	93.83 - 94.41	0.58	0.13	0.39	512
LRD020	-55	Whole Intersection	25.07 - 32.21	7.14	0.64	0.18	132
		Including	30.20 - 31.06	0.86	1.43	0.12	114
		Whole Intersection	49.95 - 50.65	0.70	0.14	0.11	117
		Whole Intersection	51.18 - 51.43	0.25	0.24	0.08	105
		Whole Intersection	51.76 - 54.02	2.26	0.22	0.13	130
		Whole Intersection	54.35 - 54.60	0.25	0.28	0.08	163
		Whole Intersection	54.85 - 56.86	2.01	0.78	0.15	151
		Whole Intersection	57.14 - 57.57	0.43	0.20	0.12	143
LRD021	-60	Whole Intersection	14.56 - 22.45	7.89	1.06	0.17	46
		Including	16.15 - 21.00	4.85	1.33	0.12	26
		Whole Intersection	24.24 - 24.94	0.70	0.05	0.10	266
LRD022	-60	Whole Intersection	14.02 - 15.74	1.72	0.17	0.10	47
		Whole Intersection	25.68 - 36.55	10.87	1.38	0.11	34
		Including	27.68 - 35.03	7.35	1.68	0.12	19
LRD025	-60	Whole Intersection	0.87 - 17.11	16.24	1.04	0.11	87
		Including	7.92 - 16.78	8.86	1.63	0.13	105
LRD026	-60	Whole Intersection	1.29 - 4.02	2.73	0.34	0.12	250
		Whole Intersection	42.88 - 46.37	3.49	0.48	0.05	86
LRD028	-60	Whole Intersection	17.61 - 19.74	2.13	0.22	0.16	195
LRD031	-55	Whole Intersection	17.25 - 20.07	2.82	0.63	0.23	152
		Whole Intersection	100.34 - 102.02	1.68	0.41	0.06	111
		Whole Intersection	130.58 - 131.80	1.22	0.06	0.08	399
		Whole Intersection	133.96 - 134.24	0.28	0.05	0.08	203
		Whole Intersection	141.32 - 141.76	0.44	0.05	0.09	134
		Whole Intersection	146.18 - 167.51	21.33	1.24	0.13	38
		Including	154.61 - 161.81	7.20	1.99	0.09	35
		Whole Intersection	168.96 - 169.48	0.52	0.80	0.07	31
		Whole Intersection	173.81 - 174.28	0.47	0.15	0.17	108
		Whole Intersection	181.69 - 182.41	0.72	0.21	0.02	229
		Whole Intersection	185.51 - 187.48	1.97	0.15	0.04	82
LRD032	-55	Whole Intersection	15.03 - 23.43	8.40	0.97	0.15	39
		Including	16.77 - 20.11	3.34	1.79	0.19	30
		Whole Intersection	125.93 - 127.79	1.86	0.23	0.18	82
		Whole Intersection	157.31 - 157.61	0.30	0.33	0.03	52
		Whole Intersection	170.25 - 170.83	0.58	0.04	0.15	49

Figure 1: locations of the completed and planned diamond drill (DD) holes (circles) from this campaign and the reverse circulation (RC) drill holes (triangles) 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 hole, LDR031, for which results are reported in this announcement and the RC drill hole, ATNN16, which was drilled during the 2023 campaign. The mineralised intersections from LDR031 are reported in Table 1.

Competent Person statement

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
RC	Reverse Circulation Drill
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.
CONTACT
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 Jay Ashfield Matt Hasson		[phone]
Berenberg Jennifer Lee		[phone]
FINANCIAL PUBLIC RELATIONS
Tavistock (United Kingdom) 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 minerals mining and exploration assets in Namibia, a premier investment destination in Africa. The Company's strategy focuses on unlocking Namibia's abundant mineral resources via best-in-class strategic partnerships across its resource base, enhancing the country's reputation as a leading global hub for African critical mineral investment. Andrada is actively scaling up tin production alongside lithium, tantalum, tungsten and copper, steadily broadening its operational footprint and output. The Company aims to supply critical raw materials from its extensive resource portfolio to support a sustainable future, improve quality of life, and uplift communities near its operations. These critical metals play a crucial role in the green energy transition, serving as essential components for electric vehicles, solar panels, and wind turbines.

 

END