Lithium Ridge Exploration Update

Andrada Mining Limited (AIM: ATM, OTCQB: ATMTF) ("Andrada"), a tin producer with a portfolio of critical minerals mining and exploration assets in Namibia, is pleased to announce exceptional surface sampling results from Lithium Ridge ("Lithium Ridge" or the "Project") in partnership with Sociedad Química y Minera de Chile SA through its subsidiary SQM Australia (Pty) Ltd ("SQM"). The results of the comprehensive geological mapping and grab sampling across the licence area provide strong validation for the ongoing Stage 1 drilling programme, funded by SQM under the previously announced earn-in agreement, to acquire a 30% shareholding.

HIGHLIGHTS

§ Exceptional lithium grades at surface: multiple grab samples returned grades exceeding 4% Li2O, with a peak value of 4.67% Li2O

§ Extensive scale of mineralisation: high-grade laboratory results obtained from diverse pegmatite bodies across the mineralised trend, reinforcing the scale and footprint of lithium potential

§ Significant polymetallic upside: significant associated tin (Sn) and tantalum (Ta) mineralisation confirmed, with peak grades of 3.12% Sn and 905 ppm Ta in individual samples

§ Strategic minerals: Primary lithium mineralisation confirmed to be spodumene, consistent with previous drilling and sampling programmes

Anthony Viljoen, Chief Executive Officer, commented:

"The results from Lithium Ridge represent a very encouraging validation of the Project's lithium potential. Surface samples returning lithium grades in excess of 4% Li₂O, together with the confirmation of spodumene as the primary lithium mineral, reinforces our view that Lithium Ridge hosts a large, high-quality lithium system. Importantly, the presence of meaningful tin and tantalum grades alongside the lithium mineralisation highlights the polymetallic nature of the Project and its capacity to deliver by-product credits that could enhance future project economics. While expansion activities at our flagship Uis Mine continue to progress, Lithium Ridge demonstrates the potentially significant regional upside within Andrada's broader portfolio. We look forward to receiving the first assay results from the Lithium Ridge Stage 1 drilling programme, which is advancing on schedule."

Lithium ridge exploration Update

The comprehensive grab sampling was integrated with the geological mapping programme ("the Programme"), with the objective of identifying mineralised pegmatites that may have been previously overlooked. Evaluation of the recently identified pegmatites will continue as part of the Stage 1 drill programme which commenced in Q3 CY2025. The Programme systematically covered the entire licence area resulting in more than 1 500 outcropping pegmatites being mapped. Essentially, visual identification of lithium-bearing minerals, coupled with Raman spectroscopy validation, has identified:

§ Multiple new lithium bearing pegmatites along the Lithium Ridge trendline, increasing the width of the 6km long mineralised zone.

§ Additional lithium mineralisation within pegmatites across other parts of the licence area, indicating the potential for a significantly larger mineral system.

Of the 496 grab sample results received to date, as illustrated in Figure 1, the twenty highest lithium grades are reported in Table 1, with selected tin and tantalum samples reported in Table 2. Of these grab sample results, 115 reported grades above 1% Li2O (including 83 samples above 2% Li2O), 156 samples reported grades above 0.1% Sn (Figure 2), and 165 samples reported grades above 75 ppm Ta, highlighting the by-product potential of the licence area.

Table 1: Selected twenty highest grade grab sample results for lithium (Coordinate system: UTM33 South)

Table 2: Selected high-grade tin and tantalum grab samples (Coordinate system: UTM33 South).

The grab samples were collected by qualified mapping teams with the location of each sample recorded using handheld GPS devices. Samples were submitted in their entirety to SA Labs Ithuba for pulverisation and homogenisation, with the pulps subsequently dispatched to UIS Analytical Services for geochemical analysis. Both contractors are certified, independent laboratories. A sodium peroxide fusion coupled with ICP-OES analysis was used to determine Li and other major element concentrations, while lithium borate fusion with ICP-MS analysis was performed to determine Sn, Ta and other minor or trace element concentrations. Internal laboratory Quality Assurance and Quality Control (QA/QC) standards were reported to Andrada, these controls were found to be compliant and suitable for the grab samples.

The geochemical results are being systematically integrated with mapping results to enhance the understanding of the mineralising system, and to define additional drill targets. Visual and handheld Raman spectroscopy identification of spodumene and other lithium ore minerals indicates that lithium mineralisation extends substantially beyond the areas initially targeted, supporting the interpretation of a significantly larger mineral system. The geochemical results confirm ore-grade potential of numerous pegmatites not previously drilled or sampled (Figure 1), while also demonstrating that many pegmatites host significant tin and tantalum mineralisation alongside the high Li2O grades (Figure 2). All grab samples were exclusively collected from the pegmatites; no samples of the surrounding schist have been analysed.

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Figure 1: Li2O grades in grab samples reported to date, with visually identified lithium ore minerals at mapping sites on Lithium Ridge

Figure 2: Sn grades in grab samples reported to date on Lithium Ridge

The Stage 1 drill programme is progressing on schedule with a third drill diamond rig having been mobilised to site in November 2025. The programme has been designed to comprise 14 000 metres of orientated core drilling across approximately 120 drill holes to determine the depth extent and continuity of the pegmatites along strike. The programme will test the previously known and recently discovered mineralised pegmatites within the Lithium Ridge licence area. The Company will provide regular updates as significant results are received and milestones achieved.

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