REG - Andrada Mining Ltd - ACAM Transaction Update

Andrada MiningAnnouncement

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RNS Number : 6763R  Andrada Mining Limited  04 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")

Completion of Conditions Precedent for the Earn-In Agreement with BWCAM to Develop Brandberg West

Issue of Equity

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 confirm that  following the announcement of 21 January 2026 (the
"Announcement"), the two key conditions that trigger the initial investment by
BWCAM Limited ("BWCAM") an affiliate of ACAM LP as part of its staged earn-in
partnership, have now been satisfied.

HIGHLIGHTS

§ Andrada will receive the USD10 million (£7.3million) ¹ towards the
initial development of Brandberg West in the next few days.

−   The AIML constitution has been adopted and officers to the AIML Board
of Directors (the "Board") have been appointed.

−   BWCAM will attain 30% shareholding in AIML a soon as the funds are
received.

−   Proceeds to expedite investigation of tailings recovery potential

§ BWCAM has invested USD1million (£728 863) ¹ for equity subscription in
Andrada through the issue of 24 295 432 new Ordinary Shares (the
"Subscription Shares").

Anthony Viljoen, Chief Executive Officer, commented:

"The receipt of the initial investment from BWCAM represents an important
milestone for Andrada and marks the successful transition of the Brandberg
West partnership from agreement to execution. We are pleased to have fulfilled
these key conditions enabling funding and to formally welcome BWCAM as a
strategic partner at both the project and corporate level. This investment
provides immediate momentum to advance the assessment of tailings recovery
potential and broader exploration opportunities at Brandberg West. The
concurrent equity subscription further aligns interests and reinforces ACAM's
confidence in our team, our assets and our disciplined approach to value
creation. We look forward to progressing the agreed work programmes over the
coming months as we continue to build Andrada into a diversified critical
metals producer positioned to benefit from the potentially long-term
structural demand."

The outstanding subsequent condition is the attainment of the Namibian
Competition Commission. More details on the investment are set out in the
Announcement.

ADMISSION AND TOTAL VOTING RIGHTS

Application has been made to the London Stock Exchange for the Subscription
Shares (being a total of 24 295 432 Ordinary Shares) issued at price of
3pence per share of to be admitted to trading on AIM ("Admission"). It is
expected that Admission will take place and dealings in the Subscription
Shares will commence at 8.00 a.m. on 9 February 2026. The Subscription Shares,
when issued, will be fully paid and will rank pari passu in all respects with
the existing ordinary shares in issue, including the right to receive all
dividends and other distributions declared, made or paid after the date of
issue.

Following Admission, the total number of Subscription Shares in issue, with
voting rights, in the capital of the Company will be 1 953 981 532. This
figure may be used by shareholders as the denominator for the calculations by
which they will determine if they are required to notify their interest in, or
a change to their interest in, the Company's share capital pursuant to (i) the
Company's Articles, (ii) the Financial Conduct Authority's Disclosure Guidance
and Transparency Rules and/or (iii) the AIM Rules for Companies issued by the
London Stock Exchange plc as amended from time to time.

¹ Exchange rate at £1 = USD 1.3720

 CONTACTS                                     +27 (11) 268 6555
 Andrada Mining Limited

Anthony Viljoen, CEO

 Sakhile Ndlovu, Head of Investor Relations
 NOMINATED ADVISOR & BROKER
 Zeus Capital                                  +44 (0) 20 2382 9500

Katy Mitchell

 Andrew de Andrade

 Harry Ansell
 CORPORATE BROKER & ADVISOR
 H&P Advisory Limited                         +44 (0) 20 7907 8500

Andrew Chubb

 Jay Ashfield

 Matthew Hasson
 Berenberg                                    +44 (0) 20 3753 3040

Jennifer Lee
 FINANCIAL PUBLIC RELATIONS
 Tavistock                                    +44 (0) 207 920 3150

Emily Moss

                                            andrada@tavistock.co.uk
 Josephine Clerkin

About Andrada

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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