Lithium And Tantalum Infill Drilling Update

02 February 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 programme aims to upgrade the existing lithium and tantalum 2019 Mineral Resource, stated in accordance with JORC (2012).

This update announces the results of 14 drill holes as illustrated on Figure 1. These results increase the total number of holes reported on to 49 of the 50-hole drilling programme, comprising 29 diamond and 21 reverse circulation ("RC") drill holes. The aim of the programme is to increase the confidence of the existing lithium and tantalum Mineral Resource estimates in the V1/V2 pegmatite.

Highlights:

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

§ Significant pegmatite intersections include:

o  94 m at 0.152% Sn, 66 ppm Ta and 1.18% Li₂O for the drill hole V1V2051, from 139 m to 233 m;

o  43 m at 0.147% Sn, 92 ppm Ta and 1.08% Li₂O, from 57 m to 100 m; and 27 m at 0.25% Sn, 60 ppm Ta and 1.09% Li₂O from 117 m to 144 m, for the drill hole V1V2048;

o  63 m at 0.151% Sn, 79 ppm Ta and 1.43% Li₂O for drill hole V1V2043 from 59 m to 122 m;

o  30 m at 0.141% Sn, 117 ppm Ta and 1.34% Li₂O for drill hole V1V2035 from 82 m to 117 m.

o  35 m at 0.140% Sn, 108ppm Ta and 1.23% Li₂O for drill hole V1V2038 from 71m to 106 m.

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

o  63 m at 1.43% Li₂O for drill hole V1V2043 from 59 m to 122 m;

o  30 m at 1.34% Li₂O for drill hole V1V2035 from 82m to 112 m;

o  35 m at 1.23% Li₂O for drill hole V1V2038 from 71m to 106 m.

Anthony Viljoen (CEO) commented:

"As we continue to report on the drilling programme results, I am pleased that they further highlight the mineralisation potential of the V1/V2 pegmatite ore body. The additional 14 holes being reported on in this announcement are located in the centre of the pegmatite and show that the potential lithium, tin, and tantalum mineralisation continuing at depth. The higher lithium grades of up to 1.43% lithium oxide are particularly exciting because they further demonstrate the unrealised potential of the V1/V2 orebody and support the early development of a lithium processing plant. We look forward to providing additional information on the lithium resource through an updated Mineral Resource Estimate in the near future."

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, drill holes V1V2058 and V1V2080 were stopped within the pegmatite and do not represent the full intersection. The dip angle of the pegmatites varies from 24 degrees to 48 degrees and the majority of reported drill holes are orientated vertically such that the reported intersections represent apparent thickness. Holes V1V12050, V1V12051 and V1V12034 are inclined and intersected the pegmatite at approximately right angles.

Table 1: Exploration results of Diamond Drilling holes V1V2044, V1V2050, V1V2051, V1V2052, V1V2054, V1V2037, V1V2048, V1V2058, V1V2080, V1V2043, V1V2035, V1V2040, V1V2038, and V1V2034 indicating the pegmatite intersection and pegmatite grades. Intersections are indicative of apparent thickness and not true thickness. Drill hole V1V2058 and V1V2080 ended within the pegmatite. Note that apparent thickness is greater than true thickness.

Each drill hole was geologically 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 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 Michael Cronwright (M.Sc., FGSSA, Pr. Sci Nat. (Geological Sciences)) of CSA Global, who provides geological consulting services to Andrada. Mr Cronwright is the Principal Consultant - Battery Metals for CSA Global and has 22 years of exploration and mineral project development experience and is a Competent Person for the reporting of these 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. Mr Cronwright consents to the release of the information contained in the announcement and 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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