3 October 2023

The information contained within this announcement is deemed by the Company to constitute inside information. 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")

Exercise of Share Options

Andrada Mining Limited (AIM: ATM, OTCQB: ATMTF), an African technology metals mining company with a portfolio of mining and exploration assets in Namibia has received notice from share option holders to exercise as detailed below.

§ 3 407 894 share options at an exercise price of 3p.

§ 1 953 946 share options at an exercise price of 3.5p.

§ 1 953 946 share options at an exercise price of 4p

Accordingly, the Company has today issued 7 315 786 Ordinary Shares (the "Option Shares") to satisfy these exercises. Application has been made to admit the Option Shares to trading on AIM and it is anticipated that the application will be effected and dealings will commence on 9 October 2023 ("Admission").

Disclosure and Transparency Rules

In accordance with the provisions of the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority, the Company confirms that, upon Admission its issued share capital will comprise 1 549 745 003 Ordinary Shares of no-par value upon Admission (the "Enlarged Share Capital").

All of these Ordinary Shares have equal voting rights and none of them are held in treasury. The total number of voting rights in the Company will therefore be 1 549 745 003 upon Admission. This total voting rights figure may be used by shareholders as the denominator for the calculations by which they will determine whether they are required to notify their interests in, or a change to their interest in, the Company under the DTRs.

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About Andrada Mining Limited

Andrada 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 way 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]