Financial Close & Execution of Strategic Funding

Andrada Mining Limited (AIM: ATM, OTCQB: ATMTF), a tin producer with a portfolio of critical metals mining and exploration assets in Namibia, announces that further to the announcement of 27 May 2026, its subsidiary, Uis Tin Mining Company (Pty) Ltd ("UTMC"), has executed definitive agreements for loan facilities totalling NAD98 million (c. £4.4 million) (the "Loan Facilities") with Bank Windhoek Limited ("BWL") and the Development Bank of Namibia Limited ("DBN"). The Loan Facilities comprise two equal NAD49 million (c. £2.2 million) tranches and all conditions precedent governing loan disbursement have been met to the satisfaction of both lenders. The Loan Facilities complete UTMC's funding requirements for the planned operational upgrades at the Uis Mine and enable the Company to progress the ore-sorting expansion into execution.

HIGHLIGHTS

§ Definitive agreements executed for two NAD49 million loan facilities, providing aggregate funding of NAD98 million and completing UTMC's funding requirements for the planned Uis operational upgrades.

§ The 10-year Loan Facilities will fund the construction and commissioning of the ore-sorting circuit at the Uis Mine.

§ The ore-sorting circuit is projected to increase tin concentrate output by 50% - 70% to approximately 2 500 to 3 000 tonnes per annum ("tpa") resulting in between 1 500 - 1 900tpa contained tin.

§ Project execution is gaining momentum, with key contractors appointed and equipment fabrication already underway.

Anthony Viljoen, Chief Executive Officer, commented:

"The strengthening of the collaboration with two of Namibia's leading financial institutions, has enabled Andrada to complete the funding required to materially de-risk the delivery of the Uis ore-sorting expansion. The Company can now continue to move decisively into project execution mode to further unlock the mine's operational and cash-generating potential through increased throughput and processing efficiency. The appointment of two well-known engineering firms to fabricate and execute on this project, has enabled the early work required, to meet the project delivery timelines."

SUMMARY OF THE LOAN FACILITIES

The relevant conditions have been satisfied, and the applicable definitive documentation has been executed. The principal terms of the Loan Facilities, as previously disclosed in the Announcement, are summarised below:

Further information on the conditional approval and the terms of the Loan Facilities is set out in the Company's announcement of 27 May 2026. The conditions precedent have been satisfied for both BWL and DBN with drawdown expected in the next 5 - 10 days.

ORE SORTING PROJECT

The ore-sorting circuit is a modular expansion of the current processing plant at the Uis Mine. It will pre-concentrate run-of-mine ore and deliver material enriched in tin to the existing processing circuits. The associated expansion and upgrades to the crushing and screening sections are designed to remove processing bottlenecks, improve throughput and enhance operating efficiency. Collectively, these improvements are projected to increase tin concentrate output by approximately 50% - 70% from c.1 800tpa to approximately 2 500tpa - 3 000tpa resulting in an equivalent quantity of between 1 500tpa- 1900tpa contained tin.

The Company has appointed two contractors to execute the project. Intagrey (Pty) Ltd, who specialise in modular ore-sorting plants, will be responsible for the fabrication, construction and commissioning of the ore-sorting circuit. Consulmet (Africa) Limited, an experienced engineering and construction company, will be responsible for the upgrades to the crushing and screening sections of the plant. The key execution stages comprise fabrication; site construction and installation; completion of the crushing and screening upgrades; commissioning and ramp-up.