Lithium and tantalum infill drill programme update

31 January 2023

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (MAR) as in force in the United Kingdom pursuant to the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via Regulatory Information Service (RIS), this inside information is now considered to be in the public domain.

Andrada Mining Limited

("Andrada" or the "Company")

Lithium and tantalum infill drill programme update

Andrada Mining Limited, formerly Afritin Mining Limited, (AIM: ATM) an African technology metals mining company with a portfolio of mining and exploration assets in Namibia, announces further results from the lithium and tantalum infill drilling programme at the Company's flagship operation, the Uis Mine ("Uis"). The current exploration programme aims to upgrade the existing Mineral Resource classification for lithium and tantalum over the areas where tin is currently classified within the Measured and Indicated categories for the 2019 Mineral Resource estimate (MRE), stated in accordance with JORC (2012).

The 50-hole drilling programme, comprising 29 diamond and 21 reverse circulation ("RC") drill holes commenced in 2022 with the aim of increasing the confidence of the existing lithium and tantalum Mineral Resource estimates in the V1/V2 pegmatite. The assay results for 30 holes (60%) have been progressively released since 2022, this update announces results of an additional five drill holes as illustrated on Figure 1. The results of the remaining 15 drill holes will be announced as they become available.

Highlights:

§ Pegmatite was intersected in all holes at the depths and apparent widths predicted by the geological model;

§ Significant pegmatite intersections include:

o  28 m at 0.147% Sn, 127 ppm Ta and 0.77% Li₂O for the drill hole V1V2033, from 15 m to 43 m;

o  21 m at 0.144% Sn, 107 ppm Ta and 1.03% Li₂O for the drill hole V1V2030, from 65 m to 86 m;

o  22 m at 0.150% Sn, 98 ppm Ta and 1.34% Li₂O for drill hole V1V2041 from 85 m to 107 m; and

o  19 m at 0.188% Sn, 72 ppm Ta and 0.72% Li₂O for drill hole V1V2041 from 111 m to 130 m.

§ Notable intersections of lithium mineralisation within the pegmatite intersections include:

o  22 m at 1.34% Li₂O for drill hole V1V2041 from 85 m to 107 m; and

o  21 m at 1.03% Li₂O for drill hole V1V2030 from 65 m to 86 m.

Anthony Viljoen (CEO) commented:

"We are pleased to announce these exploration drill results which are once again in line with our high expectations for the V1/V2 pegmatite ore body. The drill holes reported in this announcement are distributed over the strike of the pegmatite and are proof of the consistency of lithium, tin, and tantalum mineralisation. We are particularly encouraged by the lithium grades intersected in drill holes V1V2041 and V1V2056, up to 1.34% lithium oxide, which further demonstrate the unrealised potential of the V1/V2 orebody. We look forward to updating the Mineral Resource Estimate in support of our by-product development projects for tantalum and lithium."

Overview of the results 

The pegmatite intersections reported in this update align with the current geological model, confirming its spatial accuracy. The drill holes intersected the pegmatite at shallow depths where the V1 and V2 bodies have bifurcated into individual units, as well as at greater depths where the units coalesce into a single pegmatite. The dip angle of the pegmatites varies from 24 degrees to 48 degrees and the reported drill holes are orientated vertically such that the reported intersections represent apparent thickness.

Table 1: Exploration results of Diamond Drilling holes V1V2066, V1V2027, V1V2033, V1V2030, and V1V2041 indicating the full pegmatite intersection and pegmatite grades. Intersections are indicative of apparent thickness and not true thickness. Note that apparent thickness is greater than true thickness.

Each drill hole was geologically and geotechnically logged before being sampled. The sample analysis was undertaken by UIS Analytical Services, a certified independent laboratory, using a peroxide fusion. ICP-OES analysis was utilised for major and minor elements and ICP-MS utilised for the trace elements.   

Figure 1: Map displaying the localities of the reported holes, the drill holes of the previous (2019) exploration programme and the holes from the current programme previously reported. Line A-A' indicates the area represented by the cross section (Fig.2).

Figure 2: Section line A-A' displaying a projection of the holes drilled during the current programme for which the results are reported in this release and previous communications for this programme.

Competent Person statement

The technical data in this announcement has been reviewed by Dr Brendan Clarke of CSA Global, who provides geological consulting services to Andrada. Dr Clarke is - Partner - EMEA for CSA Global and has 22 years of industry related exploration and mineral project development experience and is a Competent Person for the reporting of Exploration results. He has reviewed both the technical disclosures in this release as well as the quality assurance protocols and results for the assay campaign. Dr Clarke is satisfied that the results of the QAQC on the assay results released to date are sufficient to support the planned estimation of Mineral Resources

Glossary of abbreviations

Glossary of technical terminology

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About Andrada Mining Limited

Andrada Mining Limited, formerly Afritin Mining Limited, is a London-listed technology metals mining company with a vision to create a portfolio of globally significant, conflict-free, production and exploration assets. The Company's flagship asset is the Uis Mine in Namibia, formerly the world's largest hard-rock open cast tin mine. 

Lithium laboratory test work completed during the 2022 calendar year indicated a high-grade, ultra-low iron lithium petalite concentrate. The test work to convert lithium petalite concentrate to battery-grade lithium hydroxide was initiated with Nagrom, a leading Australian processing company, and commercial engagements with lithium petalite concentrate off - takers are on-going.

An exploration drilling programme is currently underway with the aim of expanding the tin resource over the fourteen additional, historically mined pegmatites, all of which occur within a 5 km radius of the current processing plant. The Company has set a mineral resource target of 200 Mt to be delineated within the next 5 years. The substantial mineral resource potential allows the Company to consider economies of scale.

Andrada is managed by a board of directors with extensive industry knowledge and management team with deep commercial and technical skills. Furthermore, the Company is committed to the sustainable development of its operations and the growth of its business. This is demonstrated by how the leadership team places significant emphasis on creating value for the wider community, investors, and other key stakeholders. Andrada has established an environmental, social and governance system which has been implemented at all levels of the Company and aligns with international standards.

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