REG - Andrada Mining Ltd - Second Batch of Lithium Ridge Drill Results

Andrada MiningAnnouncement

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RNS Number : 9106C  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 Li(2)O 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% Li(2)O from 146.18m to 167.51m.

·   Including 7.20m @ 1.99% Li(2)O from 154.61m to 161.81m.

−   Drill hole LRD025: 16.24m @ 1.04% Li(2)O from 0.87m to 17.11m.

·   Including 8.86m @ 1.63% Li(2)O from 7.92m to 16.78m.

−   Drill hole LRD022: 10.87m @ 1.38% Li(2)O from 25.68m to 36.55m.

·   Including 7.35m @ 1.68% Li(2)O from 27.68m to 35.03m.

−   Drill hole LRD017: 5.88m @ 1.50% Li(2)O from 76.50m to 82.38m.

·   including 3.00m @ 1.94% Li(2)O 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                                              +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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