Announcement • Jun 09
Andrada Mining Limited Reports Third Batch of Lithium Ridge Drill Results Andrada Mining Limited announced the third batch of results for an additional six holes of diamond drilling at Lithium Ridge Project. The additional six holes show the presence of consistent high-grade lithium mineralisation from surface. High-grade lithium mineralisation confirmed across multiple drill holes, including: Drill hole LRD027: 9.05m @ 2.28% Li2O from 50.82m to 59.87m. Including 3.97m @ 3.46% Li2O from 51.82m to 55.79m. Drill hole LRD023: 9.64m @ 1.24% Li2O from 50.36m to 60.00m. Including 5.11m @ 1.89% Li2O from 53.58m to 58.69m. Drill hole LRD024: 13.27m @ 1.42% Li2O from 32.06m to 45.33m. Including 6.79m @ 1.90% Li2O from 32.90m to 39.69m. Drill hole LRD037: 3.97m @ 0.95% Li2O from 48.78m to 52.75m. Including 1.51m @ 1.51% Li2O from 51.24m to 52.75m. Consistent associated tin and tantalum mineralisation confirmed across all holes potentially enhancing project economics through potential polymetallic revenue streams. Drill hole LRD029: 4.97m @ 0.21% Sn and 130ppm Ta. Successfully completed the extended Stage 1 drilling campaign, delivering 143 holes comprising 16,500 metres of oriented core. The results refer to an additional six drill holes and are reported as 'Whole Intersections' in Table 1, representing pegmatite intersections from the top to the bottom contact. Where these intersections contain schistose xenoliths, the reported grades reflect the metal content of the pegmatite only, excluding the schistose intervals. Intersections reported as 'including' represent selected higher-grade zones within the total pegmatite intersection. Spodumene has been visually identified as the primary lithium-bearing mineral by the project geological team. Tin and tantalum grades have also been highlighted as potential by-product revenue streams. The boreholes were drilled at inclined angles to the horizontal and, accordingly, the reported intersections are considered to represent apparent widths rather than true thicknesses. Pegmatite intersections that did not meet at least one of the following metal content cut-off criteria (>0.25% Li2O, >0.1% Sn or >99ppm Ta) have not been reported as they are currently regarded as economically insignificant. Downhole orientation surveys were conducted at regular intervals for each hole as the drilling was advancing and surveyed in totality after drilling was completed. The surveys were conducted using a magnetic deviation probe that collected readings at two metre intervals whereas collar locations were surveyed using a handheld GPS. The Stage 1 drill programme was expanded by 18% to 16,525 metres of orientated diamond core across the license area and was completed in May 2026. Individual drill holes were geologically and structurally logged prior to being cut and sampled as quarter core. The sampling programme followed geological contacts while simultaneously maintaining consistency in data and sample representativity. Sample lengths ranged from 25 cm to 125 cm, where practicable. The samples were submitted to independent and certified laboratories, namely SA Labs Ithuba for pulverisation and homogenisation, and the pulps were subsequently dispatched to UIS Analytical Services for chemical analysis. Lithium and other related major elements were analysed using sodium peroxide fusion with ICP-OES, while tin, tantalum and other trace elements were analysed using lithium borate fusion with ICP-MS. No top cut was applied in calculating the weighted average grades for mineralised intersections within the pegmatites. Price Target Changed • Jun 05
Price target decreased by 12% to UK£0.15 Down from UK£0.17, the current price target is an average from 2 analysts. New target price is 305% above last closing price of UK£0.037. Stock is up 40% over the past year. The company is forecast to post a net loss per share of UK£0.0014 next year compared to a net loss per share of UK£0.006 last year. Board Change • Jun 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 3 highly experienced directors. Independent Non-Executive Director Gida Nakazibwe-Sekandi was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. 
