New mineralised pegmatites identified at Lithium Ridge as exploration drilling commences with SQM

Andrada Mining Limited (AIM: ATM, OTCQB: ATMTF), the critical minerals producer with mining and exploration assets in Namibia, is pleased to announce the commencement of exploration drilling at the Lithium Ridge project in partnership with Sociedad Química y Minera de Chile SA through its subsidiary SQM Australia (Pty) Ltd (‘SQM’). (See announcement dated 9 September 2024 and 28 February 2025). This milestone represents part of the stage 1 workplan of the three stage earn-in agreement with SQM. Under this first stage, SQM will fund up to US$7 million in exploration to secure an initial 30% interest at project level with the potential to fund up to US$40m million over the three stages.

HIGHLIGHTS

• 14 000 metres of Orientated Diamond Drilling (‘DD’) underway across priority lithium targets.
• High resolution geological mapping and sampling already identifying new pegmatites with visible spodumene mineralisation.
• Programme builds on historical results of up to 2.13% Li₂O along a 6 km mineralised ridgeline.

Anthony Viljoen, Chief Executive Officer, commented:

‘The commencement of drilling at Lithium Ridge with our tier-1 joint-venture partner, SQM, is a significant step forward in unlocking one of Namibia’s most exciting lithium opportunities. The encouraging historical results of up to 2.13% Li₂O along the 6km ridge line, are already being complemented by a new geological mapping and sampling programme that has identified additional mineralised pegmatites containing visible spodumene crystals. This strengthens our confidence in the scale and quality of the project. The investment by SQM underscores Lithium Ridge’s potential and Namibia’s growing role in the global supply of critical minerals. We expect this programme to provide the foundation for fast-tracking the project towards development.’

Lithium ridge exploration programme

The Lithium Ridge mining licence is located only 35 kilometres from Andrada’s producing Uis tin mine and hosts multiple high-priority lithium-bearing pegmatites, with associated tin and tantalum credits.

The current programme is designed to:

• Unlock the full potential of the mineralised ridge and,
• Extend exploration across the wider licence area where new spodumene – bearing pegmatites have been identified.

The 14 000 metre DD programme will comprise approximately 120 orientated holes, to determine the depth extensions and continuity of the extensive mineralisation already identified at surface. Historical work confirmed grades of up to 2.13% Li₂O and metallurgical spodumene recoveries of up to 80%, producing a premium 6.8% Li₂O concentrate with low iron levels. These results were on drill chip samples produced during reverse circulation drilling at Lithium Ridge. (See announcement dated 5 December 2023). This programme is expected to significantly enhance the geological understanding of Lithium Ridge and demonstrate its economic potential as a large-scale, high quality lithium project.

Andrada CEO, Anthony Viljoen (L) and SQM International Lithium CEO, Mark Fones (R) carrying a spodumene crystal at Lithium Ridge (Namibia)

About Andrada Mining Limited

Andrada Mining Limited, formerly Afritin Mining Limited, is a London-listed technology metals mining company with a vision to create a portfolio of globally significant, conflict-free, production and exploration assets. The Company’s flagship asset is the Uis Mine in Namibia, formerly the world’s largest hard-rock open cast tin mine and currently being re-developed as a major tin-tantalum-lithium producer. An exploration drilling programme is currently underway with the aim of expanding the tin resource over the fourteen additional, historically mined pegmatites that occur within a 5km radius of the current processing plant. The Company has set a mineral resource target of 200 Mt to be delineated within the next 5 years. The existing mine, together with its substantial mineral resource potential, allows the Company to consider economies of scale. Andrada is managed by a board of directors with broad industry knowledge and a management team with extensive commercial and technical skills. Furthermore, the Company is committed to the sustainable development of its operations and the growth of its business. This is demonstrated by the way the leadership team places significant emphasis on creating value for the wider community, investors, and other key stakeholders. Andrada has established an environmental, social and governance system that has been implemented at all levels of the Company and aligns with international standards.

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