Andrada Mining Commences 14,000-Metre Drilling Programme at Lithium Ridge with SQM

• 14,000-metre orientated diamond drilling programme underway at Lithium Ridge
• Geological mapping has identified new pegmatites with visible spodumene mineralisation
• Historical results confirmed grades up to 2.13% Li₂O along a 6-kilometre mineralised ridgeline
• SQM funding up to US$7 million in stage 1 exploration to earn 30% project interest, with potential US$40 million across three stages
• Project located 35 kilometres from Andrada's Uis tin mine

Andrada Mining Limited (AIM: ATM, OTCQB: ATMTF) is a London-listed, Namibia-focused technology metals mining company, operating as a low-cost tin, lithium, and tantalum producer. The company operates the Uis Mine, formerly the world's largest hard-rock open-cast tin mine, which is being redeveloped as a tin-tantalum-lithium producer. The company has set a mineral resource target of 200 million tonnes to be delineated within five years. Andrada has established an environmental, social and governance system aligned with international standards.

Commencement of 14,000-Metre Exploration Drilling Programme with SQM Partnership Funding

The 14,000-metre exploration programme at Lithium Ridge has commenced as part of Andrada's partnership with Sociedad Química y Minera de Chile SA through its subsidiary SQM Australia. Under the stage 1 work programme, SQM will fund up to US$7 million in exploration activities to secure an initial 30% interest at project level. The three-stage earn-in agreement provides for potential funding of up to US$40 million across all stages.

The drilling programme comprises approximately 120 orientated diamond drill holes designed to determine the depth extensions and continuity of the mineralisation identified at surface. Orientated drilling allows geologists to measure the structural characteristics of the pegmatite bodies for future resource estimation and mine planning. The drilling will test the known mineralised ridgeline and newly identified targets across the licence area.

The project is located 35 kilometres from Andrada's operating Uis Mine. 

Chief Executive Officer Anthony Viljoen stated: 

"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."

Discovery of New Spodumene-Bearing Pegmatites Through Geological Mapping

High-resolution geological mapping and sampling at Lithium Ridge has identified new pegmatites containing visible spodumene mineralisation. Spodumene is the primary lithium-bearing mineral targeted by the project. These discoveries extend beyond the original 6-kilometre mineralised ridgeline where historical work has been concentrated.

Historical drilling at Lithium Ridge confirmed grades up to 2.13% Li₂O along the ridgeline. Metallurgical test work on reverse circulation drill chip samples demonstrated spodumene recoveries of up to 80%, producing a 6.8% Li₂O concentrate with low iron levels. These results were obtained from reverse circulation drilling conducted at the project.

The current drilling programme will test the depth extent and continuity of mineralisation across the ridgeline and newly identified pegmatite occurrences. 

Chief Executive Officer Anthony Viljoen commented: 

"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."

Stage 1 Earn-In Programme Progress with SQM Funding

The stage 1 earn-in programme forms part of a structured three-stage agreement between Andrada and SQM. SQM is funding up to US$7 million for this initial stage, which focuses on drilling the known mineralised ridgeline and testing newly identified targets across the licence area. Successful completion of stage 1 will secure SQM a 30% project interest at Lithium Ridge.

The three-stage earn-in agreement provides for total potential funding of up to US$40 million from SQM. Under this structure, Andrada retains a 70% interest in the project following stage 1 completion. The Lithium Ridge mining licence hosts multiple lithium-bearing pegmatites with associated tin and tantalum mineralisation.

The programme is designed to unlock the potential of the mineralised ridge and extend exploration across the wider licence area.

Chief Executive Officer Anthony Viljoen stated:

"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."

Next Steps

The 14,000-metre drilling programme is currently underway at Lithium Ridge. The programme will test the depth extensions and continuity of mineralisation across the known ridgeline and newly identified pegmatite targets. Geological mapping and sampling work continues across the licence area. The company stated it expects this programme to provide the foundation for advancing the project towards development.

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