Andrada Mining Commences Drilling at Lithium Ridge with SQM Partnership

• 14,000-metre diamond drilling programme launched across lithium targets at Lithium Ridge
• New pegmatites with visible spodumene mineralisation identified through geological mapping
• Historical results recorded up to 2.13% Li₂O along 6km mineralised ridge
• SQM to fund up to US$7m in stage one exploration for initial 30% interest
• Project located 35km from Andrada's operational Uis tin mine in Namibia

Andrada Mining Limited (AIM: ATM, OTCQB: ATMTF) is a London-listed technology metals mining company operating the Uis Mine in Namibia. The Uis Mine, formerly the world's largest hard-rock open-cast tin mine, is currently being redeveloped as a tin-tantalum-lithium producer. The company operates fourteen historically mined pegmatites within a 5km radius of the processing plant.

The company has set a mineral resource target of 200 million tonnes to be delineated within five years. Andrada's operations are managed by directors with industry experience and a management team with commercial and technical backgrounds. The company has implemented environmental, social and governance systems aligned with international standards.

Joint Venture Drilling Programme Commencement

Andrada has commenced exploration drilling at the Lithium Ridge project in partnership with Sociedad Química y Minera de Chile SA through SQM Australia. This represents the first stage of a three-stage earn-in agreement where SQM will fund up to US$7 million in exploration to secure an initial 30% project interest. The agreement provides for potential funding of up to US$40 million across all three stages.

The current programme involves 14,000 metres of orientated diamond drilling across approximately 120 holes. The drilling targets priority lithium areas and aims to determine depth extensions and continuity of surface mineralisation identified across the project. The programme follows historical work that confirmed grades of up to 2.13% Li₂O from reverse circulation drilling samples.

The partnership with SQM, a major lithium producer, provides funding and technical expertise for the exploration programme. The drilling methodology has been designed to evaluate the full extent of mineralisation identified along the 6-kilometre ridge and surrounding areas within the licence boundary.

New Geological Discoveries and Resource Potential

Recent geological mapping and sampling work has identified additional mineralised pegmatites containing visible spodumene crystals beyond previously known areas. These discoveries add to historical drilling results that recorded grades up to 2.13% Li₂O along the mineralised ridgeline. The identification of new pegmatites indicates potential for resource expansion beyond the original target zones.

Historical metallurgical testing demonstrated spodumene recoveries of up to 80%, producing 6.8% Li₂O concentrate with low iron levels. These results were obtained from drill chip samples during previous reverse circulation drilling campaigns. The testing provides baseline data for potential processing characteristics of the deposit material.

The project contains multiple lithium-bearing pegmatites with associated tin and tantalum mineralisation. The exploration programme extends across the wider licence area where new spodumene-bearing pegmatites have been identified. The current drilling programme is designed to evaluate both the main ridge area and newly identified targets across the broader concession.

Strategic Project Development and Location Advantages

The Lithium Ridge mining licence is located 35 kilometres from Andrada's producing Uis tin mine. This proximity provides access to existing infrastructure including processing facilities and operational support systems. The location allows for potential integration with current operations and utilisation of established logistics networks.

The project operates within Namibia's established mining regulatory framework. The country's mining sector provides existing export infrastructure and established supply chains for mineral products. The location offers access to both regional and international markets through established transport corridors.

The close proximity to the Uis mine allows for potential operational synergies between projects. Shared infrastructure and processing capabilities may reduce development requirements and operational costs. The existing operational base provides technical expertise and workforce resources for project development activities.

Conclusion

The drilling programme at Lithium Ridge represents the commencement of systematic exploration under the SQM partnership agreement. The programme will provide geological data for resource evaluation and project advancement through the three-stage earn-in structure.

Upcoming activities include completion of the 14,000-metre drilling programme and geological analysis of results. The company expects the programme to provide data for resource estimation and evaluation of the project's development potential. Results will inform progression through subsequent stages of the SQM partnership agreement.

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