High-grade initial drill results at Lithium Ridge

Andrada Mining Limited

09 February 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")

Inaugural high-grade drill results at Lithium Ridge demonstrate continuity, scale and polymetallic upside

Andrada Mining Limited (AIM: ATM, OTCQB: ATMTF) ("Andrada"), a tin producer with a portfolio of critical minerals mining and exploration assets in Namibia, is pleased to announce high-grade intersections from the initial batch of diamond drilling results at Lithium Ridge ("Lithium Ridge" or the "Project") which is being advanced in partnership with Sociedad Química y Minera de Chile SA through its subsidiary SQM Australia (Pty) Ltd ("SQM").  The drilling confirms high-grade lithium mineralisation from surface to drill depth, together with meaningful tin and tantalum mineralisation, reinforcing Lithium Ridge's potential to evolve into a large-scale, long-life polymetallic asset. These results are part of the ongoing Stage 1 exploration programme under the previously announced earn-in agreement, pursuant to which SQM may earn a 30% interest in the Project.

HIGHLIGHTS

§ Consistent mineralisation: Lithium mineralisation was intersected in most of the holes reported, confirming mineralisation from surface down to a depth of 160m (LDR011).

§ Significant lithium intercepts: selected noteworthy and high-grade lithium intercepts include;

−   Drill hole LRD003: 9.63m @ 2.12% Li₂O from 36.66m to 46.29m

·   including 5.74m @ 3.02% Li₂O from 38.00m to 43.74m

−   Drill hole LRD010: 24.44m @ 1.38% Li₂O from 55.44m to 79.88m

·   Including 14.57m @ 1.73% Li₂O from 64.87m to 79.44m

−   Drill hole LRD011: 16.81m @ 1.51% Li₂O from 68.30m to 85.11m

·   Including 4.81m @ 1.98% Li₂O from 80.30m to 85.11m

§ Compelling polymetallic upside: significant associated tin (Sn) and tantalum (Ta) mineralisation with notable intersections including;

−   Drill hole LRD001: 2.57m @ 1.98% Sn and 227ppm Ta from 70.88m to 73.45m

−   Drill hole LRD011: 0.89m @ 1.33% Sn and 247ppm Ta from 88.46m to 89.35m

§ Stage 1 exploration programme progressing on schedule: regular updates to be published as results are received and milestones achieved.

Anthony Viljoen, Chief Executive Officer, commented:

"We are extremely pleased to announce these exceptional drill results from Lithium Ridge, which validate our confidence in this asset as a potential world-class lithium discovery. These drill results build on the recent high-grade grab sample results and show the continuity of lithium mineralisation at depth. The high-grade intersections, with results reaching up to 3.02% Li₂O, demonstrate the impressive nature of the mineralisation across the project area. These results not only confirm the continuity of lithium mineralisation from surface but also showcase the substantial polymetallic potential with meaningful tin and tantalum credits that will enhance project economics. Lithium Ridge clearly represents an early-entry opportunity for Andrada into Africa's emerging lithium sector, supported by our partnership with global leader SQM.

With drilling progressing on schedule and new spodumene-bearing pegmatites identified through the ongoing geological mapping campaign, we are confident that subsequent results from the Stage 1 drilling campaign will continue to build on this strong foundation."

Overview of results

The Stage 1 drill programme is progressing on schedule and has been designed to comprise approximately 14 000 metres of orientated diamond core drilling across 120 planned drill holes, to determine the depth extent and continuity of the pegmatites within the license area. The drill programme commenced in August 2025 and aims to test mineralisation within both previously known and recently discovered pegmatites. These results are for the first 15 holes representing 1 328 metres of drilling that yielded 496 samples for analysis, including QA/QC.

The results reported as "Whole Intersection" in Table 1 indicate pegmatite intersections from the top to the bottom contact. Where these intersections contain schistose xenoliths, reported results provide the metal content of the actual pegmatite intersections excluding the schistose intervals. Intersections reported as "Including", represent selected higher-grade intervals within the total intersection of the selected pegmatites. All the drill holes were drilled at inclined angles from the horizontal, and the reported pegmatite intersections should, therefore, be considered to represent apparent widths.  

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)
LRD001	-60	Whole Intersection	61.79 - 62.04	0.25	0.01	0.06	290
		Whole Intersection	70.88 - 73.45	2.57	0.50	1.98	227
		Whole Intersection	78.49 - 79.35	0.86	0.06	0.36	41
LRD002	-60	Whole Intersection	29.85 - 40.15	10.30	0.82	0.05	50
		Including	36.09 - 37.09	1.00	3.41	0.06	11
LRD003	-60	Whole Intersection	35.17 - 35.85	0.68	0.15	0.13	52
		Whole Intersection	36.66 - 46.29	9.63	2.12	0.08	36
		Including	38.00 - 43.74	5.74	3.02	0.08	30
LRD004	-60	Whole Intersection	12.20 - 12.45	0.25	0.05	0.01	112
		Whole Intersection	35.00 - 45.25	10.25	1.02	0.08	38
		Including	36.98 - 41.49	4.51	1.68	0.03	25
LRD005	-60	Whole Intersection	28.03 - 41.02	12.99	0.60	0.05	113
		Including	33.54 - 37.19	3.65	1.75	0.04	48
		Whole Intersection	43.23 - 43.52	0.29	0.02	0.05	121
LRD006	-60	Whole Intersection	20.06 - 22.67	2.61	1.07	0.11	49
		Including	20.42 - 21.42	1.00	2.12	0.06	40
		Whole Intersection	23.13 - 23.90	0.77	0.21	0.41	96
LRD007	-60	Whole Intersection	30.95 - 32.43	1.48	0.10	0.29	82
		Whole Intersection	36.55 - 40.27	3.72	0.18	0.23	64
		Whole Intersection	41.58 - 42.21	0.63	0.20	0.16	76
LRD008	-60	Whole Intersection	13.32 - 16.60	3.28	1.32	0.25	90
		Whole Intersection	24.43 - 24.90	0.47	0.02	0.05	106
		Whole Intersection	25.15 - 25.71	0.56	0.18	0.06	147
		Whole Intersection	34.42 - 34.99	0.57	0.10	0.09	100
		Whole Intersection	35.69 - 36.92	1.23	0.12	0.06	110
		Whole Intersection	38.62 - 45.11	6.49	1.03	0.29	115
		Whole Intersection	48.03 - 49.57	1.54	1.26	0.57	80
		Whole Intersection	51.26 - 67.97	16.71	1.36	0.11	41
		Including	52.26 - 56.92	4.66	2.00	0.14	29
LRD009	-60	Whole Intersection	81.84 - 83.67	1.83	0.09	0.18	101
		Whole Intersection	161.37 - 163.69	2.32	0.09	0.13	39
LRD010	-60	Whole Intersection	22.13 - 22.38	0.25	1.05	0.26	135
		Whole Intersection	22.63 - 24.01	1.38	0.44	0.23	127
		Whole Intersection	37.69 - 38.34	0.65	0.24	0.09	135
		Whole Intersection	55.44 - 79.88	24.44	1.38	0.23	71
		Including	64.87 - 79.44	14.57	1.73	0.32	54

Hole ID	Dip Angle (Degrees)	Intersection Type	From - To (metres)	Length (m)	Grades
					Li₂O (%)	Sn (%)	Ta (ppm)
LRD011	-60	Whole Intersection	13.52 - 13.84	0.32	0.02	0.12	256
		Whole Intersection	29.90 - 30.33	0.43	0.06	0.05	263
		Whole Intersection	57.18 - 59.62	2.44	0.97	0.15	88
		Whole Intersection	65.65 - 66.00	0.35	1.43	0.05	129
		Whole Intersection	67.80 - 68.05	0.25	0.22	0.17	59
		Whole Intersection	68.30 - 85.11	16.81	1.51	0.24	88
		Including	80.30 - 85.11	4.81	1.98	0.21	70
		Whole Intersection	88.46 - 89.35	0.89	0.77	1.33	247
		Whole Intersection	95.54 - 96.79	1.25	0.23	0.08	283
		Whole Intersection	103.13 - 103.38	0.25	0.08	0.04	150
		Whole Intersection	121.75 - 124.20	2.45	0.76	0.06	112
		Whole Intersection	128.78 - 129.03	0.25	0.04	0.15	228
		Whole Intersection	130.01 - 137.25	7.24	1.26	0.10	58
		Including	131.43 - 136.70	5.27	1.51	0.11	59
		Whole Intersection	143.95 - 144.40	0.45	0.06	0.20	281
		Whole Intersection	145.75 - 146.00	0.25	0.09	0.16	174
		Whole Intersection	150.06 - 150.31	0.25	0.12	0.20	67
		Whole Intersection	152.17 - 153.31	1.14	0.22	0.19	52
		Whole Intersection	161.71 - 166.12	4.41	1.33	0.11	38
		Including	162.86 - 163.98	1.12	3.32	0.04	10
		Whole Intersection	174.07 - 174.32	0.25	0.05	0.03	201
LRD012	-60	Whole Intersection	11.66 - 19.78	8.12	0.41	0.19	51
		Whole Intersection	21.53 - 26.86	5.33	0.71	0.15	85
LRD013	-60	Whole Intersection	20.25 - 22.95	2.70	0.08	0.17	47
LRD016	-50	Whole Intersection	86.73 - 87.55	0.82	0.02	0.05	174
		Whole Intersection	90.19 - 93.08	2.89	0.17	0.14	57
LRD018	-60	Whole Intersection	13.03 - 18.24	5.21	0.07	0.25	31

Pegmatite intersections which have not met at least one of the metal contents cut off criteria (>0.25% Li₂O, >0.1% Sn or >99ppm Ta) have not been reported as they are not currently considered to be of economic significance. Spodumene has been visually identified as the primary lithium mineral by the geological teams on site. Tin and tantalum grades have been highlighted as these metals are considered indicative of lithium bearing pegmatites and present economic upside as potential byproducts. Downhole orientation surveys were undertaken for each hole at regular intervals while the hole was advancing and surveyed again in totality after drilling was completed. The surveys were done using a magnetic deviation probe that collected readings at two metre intervals. Collar locations were surveyed using a handheld GPS.

Each drill hole was geologically and structurally logged before being cut and sampled as quarter core. The sampling programme attempted to follow geological contacts while also maintaining consistency in data representativity. The shortest sampled length was 25cm while the longest length was limited to 125cm wherever possible. Once sampled, the material was submitted to SA Labs Ithuba for pulverisation and homogenisation, with the pulps subsequently dispatched to UIS Analytical Services for geochemical analysis. Both contractors are certified, independent laboratories. A sodium peroxide fusion coupled with ICP-OES analysis was used to determine Li and other major element concentrations, while lithium borate fusion with ICP-MS analysis was performed to determine Sn, Ta and other minor or trace element concentrations. No top cut was applied in calculating the weighted average grades for mineralised intersections within the pegmatites.

As previously announced, the Company will continue to provide regular updates as significant results are received and milestones achieved.

 

 

Figure 1: Map showing the 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.

 

 

Figure 2: Section line A-A' displaying a projection of the diamond drill hole, LDR011, for which results are reported in this announcement and the RC drill hole, ATNN20, which was drilled during the 2023 campaign. The mineralised intersections from LDR011 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.

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.

 

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