Andrada Secures European Investment Bank Support for Uis Mine Lithium Development

• Andrada's Uis Tin Mining Company has entered into a Cooperation Agreement with the European Investment Bank to advance the lithium project feasibility study
• The partnership provides up to EUR 2 million (£1.74 million) in consulting services through an EU-funded technical assistance facility
• The project targets production of 50,000 tonnes per annum of lithium concentrate from the Uis Mine
• Lithium will be recovered from existing processing waste streams without increasing ore requirements
• The agreement advances the project towards bankable feasibility level

Andrada Mining Limited (AIM: ATM, OTCQB: ATMTF) is a Namibia-based tin producer with a portfolio of critical minerals mining and exploration assets. The company operates the Uis Mine and is scaling up tin production whilst developing lithium, tantalum, tungsten and copper resources. Andrada supplies critical raw materials for applications including electric vehicles, solar panels and wind turbines.

EIB Partnership and Cooperation Agreement

The Cooperation Agreement between Uis Tin Mining Company and the European Investment Bank establishes a partnership for advancing the Uis Lithium Expansion Project. Consulting services will be provided through the EU-OACPS Technical Assistance Facility on Critical Raw Materials, with the EIB acting as administrator and managing consultant appointments. Uis Tin Mining Company will assist in guiding the work and reviewing outputs.

The services, valued at up to EUR 2 million, will be provided on a grant basis with no repayment obligations or future funding commitments. The scope covers key feasibility project items, predominantly metallurgical testing and related infrastructure studies.

Andrea Clerici, Director for Corporates and Global Activities at the EIB, stated:

"Lithium is recognised as both a critical and strategic raw material under the Critical Raw Materials Act, and the EIB is increasingly backing projects that diversify CRM supply. Our partnership with Andrada is aimed at developing investor attractive projects that will maintain high environmental and social standards, while being mutually beneficial for both African and European partners."

Uis Lithium Expansion Project Details

The Uis Mine exploits a polymetallic pegmatite-hosted deposit containing tin, tantalum and lithium mineralisation. The mine currently produces tin and tantalum concentrates. The lithium expansion involves constructing a processing circuit integrated into the existing tin and tantalum processing facility. The integrated circuit will reprocess waste material from the tin and tantalum concentrator for lithium enrichment rather than increasing ore requirements from mining operations.

Lithium mineralisation occurs predominantly as petalite. The initial phase targets production of 50,000 tonnes per annum of petalite concentrate for the technical lithium market. Previous feasibility studies have advanced the project to pre-feasibility level. The company has outlined a second development phase aimed at supplying the lithium refining industry with concentrate for producing lithium chemicals for the battery industry.

Chief Executive Officer Anthony Viljoen commented:

"This partnership with the European Investment Bank is a major milestone for Andrada. It materially accelerates our lithium development strategy whilst validating Uis as a strategically important asset within the global critical minerals supply chain. By materially accelerating the lithium project stream at Uis, with a clear objective of reaching bankability feasibility level, we are well-positioned to become a recognised source of lithium."

Next Steps

The feasibility study work will focus on advancing the project to bankable feasibility level. The consulting services will address metallurgical testing and infrastructure studies required for project development. The partnership is designed to support Andrada's pathway to becoming a supplier of lithium into global green energy supply chains.

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