REG - Andrada Mining Ltd - EIB Partnership for Uis Mine Feasibility Study

Andrada MiningAnnouncement

Tue 14:45

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RNS Number : 4714S  Andrada Mining Limited  10 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")

Partnership with European Investment Bank for the Uis Mine Lithium Feasibility Study

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 that its wholly owned operating subsidiary, Uis Tin Mining
Company (Proprietary) Limited ("UTMC"), has entered into a Cooperation
Agreement (the "Agreement") with the European Investment Bank ("EIB"). The
Agreement has been put in place to accelerate the feasibility study for the
Uis Lithium Expansion Project (the "Project"). Under the terms of the
Agreement, the Project will benefit from technical and project development
assistance through a facility funded by the European Union ("EU"). The scope
of work is designed to advance the Project to bankable feasibility level and
to support Andrada's pathway to becoming a long-term supplier of lithium into
global green-energy supply chains.

HIGHLIGHTS

§ Institutional support: The EIB partnership provides strong technical and
institutional support for Andrada's lithium development strategy at Uis Mine

§ Non-dilutive funding: Consulting services valued at up to EUR2 million
(£1.74 million)¹ will be provided through the Critical Raw Materials
Technical Assistance Facility, funded under the EU-OACPS Technical Assistance
Facility on Critical Raw Materials ("CRMs")

§ Production target: The Project aims to produce 50 000 tonnes per annum
("tpa") of lithium (petalite) concentrate from Andrada's Uis Mine

§ Sustainable development: Lithium will be recovered from existing processing
waste streams

§ Pathway toward bankability: The Agreement accelerates the Project's pathway
toward bankable feasibility level and ultimate implementation

Anthony Viljoen, Chief Executive Officer, Andrada, commented:

"This partnership with the European Investment Bank is a major milestone for
Andrada. It materially accelerates our lithium development strategy whilst
validating Uis as a strategically important asset within the global critical
minerals supply chain. By materially accelerating the lithium project stream
at Uis, with a clear objective of reaching bankability feasibility level, we
are well-positioned to become a recognised source of lithium.

The Project will deliver strong local economic and social benefits for
Namibian citizens, growing our existing contribution whilst positioning
Andrada at the centre of the EU's critical mineral supply framework.
Ultimately, this Project will advance our critical mineral offering, enhance
long-term shareholder value and contribute meaningfully to the Namibian
economy."

Andrea Clerici, Director for Corporates and Global Activities at the EIB, commented:

 "Lithium is recognised as both a critical and strategic raw material under
the Critical Raw Materials Act, and the EIB is increasingly backing projects
that diversify CRM supply. Our partnership with Andrada is aimed at developing
investor attractive projects that will maintain high environmental and social
standards, while being mutually beneficial for both African and European
partners."

THE uIS LITHIUM EXPANSION PROJECT

The Uis Mine exploits a polymetallic pegmatite-hosted deposit containing tin,
tantalum and lithium mineralisation. The mine currently products are tin and
tantalum concentrates. Andrada intends to monetise the lithium contained in
the run-of-mine by constructing of a beneficiation circuit that is integrated
into the tin and tantalum processing facility of the Uis Mine. The additional
integrated circuit will not increase the ore requirements from the mining
operation but rather will re-process the waste material from the tin and
tantalum concentrator for lithium enrichment. Lithium mineralisation
predominantly occurs as petalite. During the initial phase, petalite
concentrate, will be produced for the technical lithium market at an initial
target of 50 000 tpa. Previous feasibility studies towards this initial phase,
have advanced the Project to a pre-feasibility level of confidence. Andrada
envisages a second phase of development aimed at supplying the lithium
refining industry with concentrate for producing lithium chemicals for the
fast-growing battery industry.

COOPERATION AGREEMENT

The Agreement between UTMC, and the EIB establishes a partnership for the
advancement of the Uis Lithium Expansion Project towards bankability.
 Consulting services will be provided through the EU-OACPS Technical
Assistance Facility on CRMs. These services, valued at up to EUR2 million
(£1.74 million)¹, will be provided on a grant basis. The Agreement is not
encumbered by repayment obligations and future funding commitments. The EIB
will act as administrator of the facility and be responsible for the
appointment and management of consultants to execute the feasibility study.
UTMC will assist the EIB in guiding the work and reviewing outputs. The scope
of the services provided under the Agreement relates to the key items of the
feasibility project, predominantly metallurgical testing and related
infrastructure studies.

¹ Exchange Rate at EUR1 = £0.87 as at close on 9 February 2026:
https://www.xe.com/

 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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