Exploration Update on ML133 (Lithium Ridge)

29 August 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 will be in the public domain.

Andrada Mining Limited

("Andrada" or the "Company")

Exploration Update on ML133 ("Lithium Ridge")

Results of infill channel sampling confirm lithium mineralisation and define mineralised zone.

Andrada Mining Limited (AIM: ATM, OTCQB: ATMTF), an African technology metals mining company with a portfolio of mining and exploration assets in Namibia, is pleased to provide lithium assay results for a channel sampling and geological mapping programme undertaken within the ML133 mining license area ("Lithium Ridge") located approximately 35km southeast of the Uis mine.

The exploration programme aimed to fill in data gaps between known lithium occurrences within our existing mining licence ML133 and define the width and length of the mineralised trend. A detailed geological mapping programme was also undertaken to delineate the extent of the pegmatites at surface and to document the mineral characteristics of the intrusions in preparation for a more detailed follow up programme.

HIGHLIGHTS

§ When combined, the weighted average of the 27 highest lithium grade channel lines amount to 179 m at 1.20% Li₂O (Refer to Table 1).

§ Notable results for channel samples across the entire pegmatite include:

o  9.65 m with an average grade of 2.18% Li₂O, 0.18% Sn and 89 ppm Ta

o  12.76 m with an average grade of 1.87% Li₂O, 0.15% Sn and 61 ppm Ta

o  15.29 m with an average grade of 1.60% Li₂O, 0.18% Sn and 57 ppm Ta

o  4.50 m with an average grade of 1.54% Li₂O, 0.11% Sn and 61 ppm Ta

o  10.01 m with an average grade of 1.35% Li₂O, 0.08% Sn and 41 ppm Ta

o  11.73 m with an average grade of 1.32% Li₂O, 0.18% Sn and 99 ppm Ta

§ This data confirms the existence of continuous mineralisation at surface over a 6 km strike length.

§ The primary lithium minerals identified are spodumene and petalite.

§ First saleable grade of Lithium from the licence produced in May 2023.

Anthony Viljoen, Chief Executive Officer, commented:

"I am very encouraged by results received to date from the regional exploration programme, highlighting the potential upside of our mining licence portfolio. Lithium mineralisation has to date, now been identified within the pegmatites in all our mining licences. In several cases, Andrada has been at the forefront of identifying and reporting the presence of significant lithium concentrations within these pegmatite swarms in the region. The channel sampling results confirm the continuity of notable lithium, tin, and tantalum mineralisation over a significant strike length.

These results, together with and the bulk test work programme at the newly constructed Pilot facility, will allow the Andrada team to expedite the concurrent development of the Lithium Ridge licence.

We look forward to receiving the results of the initial RC drill programme which was implemented to investigate the continuity of Lithium Ridge's pegmatites and their associated mineralisation at depth. This work continues to confirm our belief that the geology of the Erongo region, plays host to a burgeoning critical metals province in Namibia. As we increase and diversify production at Uis, we are also striving to discover and define additional tech-metals resources with the potential to develop into standalone operations."

Project Location

This report relates to an exploration programme implemented within the ML133 mining license, situated approximately 35km south-east of the Uis Mine along the D1903 road that links to the B2 connecting Windhoek and Swakopmund. The license area is within the NaiNais - Kohero pegmatite belt and where the former tin and tantalum-rich TinTan mine was situated.     

Overview of results

This exploration programme comprised 129 separate channel lines which were cut over 99 individual pegmatites. The programme was undertaken in conjunction with detailed geological mapping of the pegmatites in the areas between existing datasets obtained in 2022.  

The results of this infill channel sampling programme reveal a 6km long trend following a ridgeline where pegmatites contain elevated lithium values. To better define the width of this trend, the outcropping pegmatites on either side of the described bodies were also sampled (Refer to Appendix A for the entire dataset) and they reveal a well-defined area with enriched lithium values. These results also demonstrate that, while lithium, tin and tantalum enrichments all occur together in this area, there are other areas where they occur separately. The weighted average grade of the sample lines selected for this report indicates the presence of mineralised pegmatite over an interval of 179m, at a value of 1.20% Li₂O.

In conjunction, a Reverse Circulation ("RC") drilling programme was initiated in the first quarter of this calendar year within the same area, to investigate the continuation and mineralisation of selected pegmatites below surface. All drill holes successfully intersected pegmatites at depth providing valuable information about the potential morphology of these intrusions and have been sampled for chemical analysis. The first batch of results from the drill programme are imminent, following which Andrada will implement additional drill programmes to prove continuity along strike and to investigate extensions at depth.

Some of the lower grade composites may incorporate higher-grade samples and, as a result, additional investigations will be undertaken to enhance our understanding of the data obtained by this sampling programme. The primary lithium-bearing minerals identified during this programme were petalite and spodumene, in some instances both these minerals were found to occur within the same pegmatite unit. 

Table 1: Selected results from the chip sampling programme on mining license ML133. The entire dataset is in Appendix A.

For this exploration programme, 692 individual samples derived from 129 channels were acquired, and included nine grab samples. Wherever possible each channel sample was taken to reflect a one metre horizontal interval within the pegmatite body. Where xenoliths of the host rock occur, these units were sampled individually. Each channel was cut with a diamond saw and chiselled free, to be collected in individual sample bags, with a minimum of 20 kg of material obtained for each sample. The samples were processed and then analysed for their elemental content by ICP-MS and ICP-OES methods at UIS Analytical Services, a certified independent laboratory in South Africa.

The sample points were surveyed with a differential GPS, yielding a 4cm accuracy in the horizontal plane and 8cm in the vertical plane. The GPS data were used to validate the length intervals recorded for each sample.

Figure 1: The distribution of identified pegmatite bodies on ML133 overlain on a satellite image.

Figure 2: Weighted average lithium grades at ML133 for pegmatites mapped and sampled during the 2022 and 2023 exploration programmes. The mineralized ridge line is demarcated by samples with the multi-coloured points.  

Competent Person Statement

The technical data in this announcement has been reviewed by Professor Laurence Robb ("Prof. Robb"), who is a non-executive director of Andrada Mining. Prof. Robb has over 30 years of industry related exploration and mineral 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 this programme.

Glossary of abbreviations

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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.

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 existing mine, together with 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 a management team with extensive 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 the manner in which 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. [END]

Appendix 1

Table 2: Channel sample results from the exploration programme to date. The values represent the weighted average of the pegmatite intersections indicated. Where country rock xenoliths were intersected the lower values were included in the calculations.