REG - Andrada Mining Ltd - Positive Tungsten Test Results At Brandberg West

Andrada MiningAnnouncement

13/04/2026 07:00

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RNS Number : 1482A  Andrada Mining Limited  13 April 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")

Positive Initial Tungsten Test Results At Brandberg West
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 the initial results of its ore sorting testwork undertaken at the Brandberg West project ("BW" or the "Project") The initial testwork forms part of a multi-phased assessment programme at BW, that includes evaluating the tailings and waste material from the historical mine, and an exploration drilling programme.
HIGHLIGHTS

§ Grade uplift: across all nine samples with significant grade increases from
the feed to the concentrate because of ore-sorting;

−   Tungsten: grade increased from 0.24% to 1.45% (Sample A5).

−   Copper: grade increased from 0.73% to 2.81% (Sample A7).

−   Tin: grade increased from 0.31% to 2.09% (Sample A8).

§ High metal recoveries of tungsten and tin: tungsten recoveries up to 91%
and tin recoveries of up to 94%.

§ 90% mass reduction: highlighting possible lower capex and accelerated route
to production.

§ Validation of polymetallic efficiency: the sensor-based (XRT) ore sorting
technology, demonstrated the ability to effectively identify and separate
multiple target elements simultaneously, confirming the potential to produce a
high-value polymetallic concentrate.

Anthony Viljoen, Chief Executive Officer, commented:
"These results represent an important validation milestone in highlighting the economic potential of tungsten as a key critical metal at the Brandberg West project, particularly against a backdrop of exceptionally strong commodity prices. The grades achieved in this testwork on the historically mined waste dumps are significantly higher than the global average for tungsten deposits with corresponding high recovery rates. This outcome reinforces our confidence as we advance toward larger-scale test batches and firmly positions tungsten as a cornerstone critical metal within Andrada's overall portfolio."
Overview of results

The Brandberg West Mine, located on EL5445, has historically been recognised
for its significant tin, tungsten, and copper mineralisation. This initial
testing programme focused on nine grab samples (A1 to A9) collected from
various locations within the historical mining area. The samples were derived
from previously blasted or waste material and, represent the diverse
mineralisation styles at BW. The results from these grab samples validate the
inclusion of the discard and waste areas in this phase of the Agreement as it
may accelerate the production timeline since the material is readily available
at surface in large volumes.

Technical Summary

Each of the grab samples weighed approximately 30kg and comprised loose
material found at each of the sample locations as shown below in Figure 1.
Concentrate and discard streams were analysed at UIS Analytical Services, a
certified independent laboratory. A sodium peroxide fusion coupled with
ICP-OES analysis was used to determine the element concentrations. Due to the
coarse nature of the mineralisation, together with the effects of weathering
and inherent variability within surface material, the samples are not
representative of the average grade at each location. Although every attempt
was made to collect samples to reflect variability across the areas tested,
the sample mass was too low for representativity. Bulk testwork has been
planned to provide a more representative assessment of the material types.

By utilising XRT sorting at the TOMRA facilities, the Company was able to
identify and isolate the mineralised fractions from the waste material with a
high degree of precision. The results demonstrate that the mineralisation at
Brandberg West is highly amenable to sensor-based sorting technology. The
process consistently reduced the total mass by 90%, which could lead to lower
transportation and milling costs. Importantly, the grades achieved in this
initial programme are comparable to those observed in primary mineralisation
within the quartz veins, supporting the potential to extract value from
historical waste streams. Furthermore, these initial results have recorded tin
and tungsten recoveries above 80% in multiple instances, and where the
recoveries are reduced, an upgrade multiple is still achieved. As larger
samples are processed, providing greater training datasets, we believe the
recoveries will continue to increase and become more consistent.

The testwork is being advanced under the staged earn-in agreement (the "Agreement") with ACAM LP's affiliate BWCAM Limited ("BWCAM"). Under the Agreement, BWCAM could provide up to USD51 million funding to accelerate the exploration and development of BW polymetallic prospecting licence and up to 49% ownership of the project. The current phase of the Agreement aims to evaluate all the historical discard streams (waste, plant discard and tailings) as well as hard rock material within the existing pit.  (See announcements released on 21 January 2026 and 4 February 2026).

 

 

 

Figure 1: Map of sample locations

Table 1: Results of the XRT ore sorting test from nine (9) grab samples taken
from the historical Brandberg West min.

  SAMPLE NUMBER                         A1    A2    A3    A4    A5    A6    A7    A8    A9          Average
 TIN       Feed grade (%)               0.18  0.11  0.05  0.12  0.19  0.17  0.14  0.31  0.10  0.15
           Concentrate grade (%)  1.49        1.25  0.66  0.89  1.14  1.23  0.74  2.09  0.41  1.10
           Rejects grade (%)      0.04        0.03  0.02  0.05  0.03  0.03  0.06  0.02  0.04  0.04
           Recovery (%)           81          77    68    57    86    58    64    94    64    72
           Upgrade multiple       8           11    13    8     6     7     5     7     4     8
 TUNGSTEN  Feed grade (%)               0.04  0.07  0.18  0.09  0.24  0.17  0.16  0.14  0.17  0.14
           Concentrate grade (%)  0.13        0.83  1.74  1.02  1.45  1.39  1.13  0.65  0.87  1.02
           Rejects grade (%)      0.03        0.02  0.10  0.01  0.04  0.02  0.02  0.05  0.03  0.04
           Recovery (%)           34          78    49    85    87    91    87    67    83    74
           Upgrade multiple       4           11    10    11    6     8     7     5     5     7
 COPPER    Feed grade (%)               0.25  0.12  0.10  0.11  0.32  0.20  0.73  0.53  0.31  0.30
           Concentrate grade (%)  1.15        0.47  0.67  0.49  1.31  0.64  2.81  2.05  1.04  1.18
           Rejects grade (%)      0.16        0.09  0.07  0.08  0.15  0.14  0.44  0.29  0.17  0.18
           Recovery (%)           44          28    33    33    60    37    47    54    54    43
           Upgrade multiple       5           4     7     5     4     3     4     4     3     4

 

 

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 and terms
 %                 Symbol for percentage
 Cu                Symbol for Copper
 ICP-OES           Inductively Coupled Plasma-Optical Emission Spectrometry
 Mass reduction    The percentage of feed material rejected as waste during the sorting process
 Ore sorting       A sensor-based, physical separation technology used to analyse and separate
                   individual particles or bulk material based on physical, chemical, or
                   radiometric properties.
 Recovery          The percentage of the total metal content contained in the feed that is
                   successfully captured in the concentrate.
 Sighter test      An early-stage, preliminary test conducted on a small number of samples to
                   assess whether a particular processing method or technology is viable for a
                   given ore or material.
 Sn                Symbol for tin
 Upgrade multiple  The factor by which the metal grade is increased from the initial feed to the
                   final concentrate.
 W                 Symbol for tungsten
 XRT               X-ray transmission technology used to categorise materials based on their
                   atomic density

 

 CONTACT
 ANDRADA MINING LIMITED
 Anthony Viljoen, CEO                         +27 (11) 268 6555

 Sakhile Ndlovu, Head of Investor Relations

 NOMINATED ADVISOR & BROKER
 Zeus Capital Limited                         +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

 Matt Hasson

 Berenberg                                    +44 (0) 20 3753 3040

Jennifer Lee

 FINANCIAL PUBLIC RELATIONS
 Tavistock (United Kingdom)                   +44 (0) 207 920 3150

Emily Moss

                                            andrada@tavistock.co.uk
 Josephine Clerkin

 

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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