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Alien intersects bonanza silver at Elizabeth Hill

RNS Number : 8260Z

Alien Metals Limited

27 January 2022

Trading Symbols

AIM: UFO

FWB: I3A1

27 January 2022

Alien Metals Ltd

("Alien" or "the Company")

Alien intersects bonanza silver at Elizabeth Hill including 9.7m @ 8,326 g/t Ag (267oz/t Ag) from 15m

Follow the link to view the announcement in full including all figures:

http://www.rns-pdf.londonstockexchange.com/rns/8260Z_1-2022-1-27.pdf

Alien Metals Ltd (LSE AIM:UFO), a global minerals exploration and development company, is pleased to update the market on its inaugural drilling program at the high-grade Elizabeth Hill Silver Project in the Pilbara Region of Western Australia. The drill program consisted of a total of 1,991 metres in 22 holes across the Project and the results below are from the 4 diamond drill holes completed for 211m from the first stage of the drilling program. The remaining results are expected in the coming weeks.

Highlights

• Exceptionally high silver grades have been returned from the Elizabeth Hill diamond drilling program with assays including:

o 9.7m @ 8,326 g/t Ag (267oz/t Ag) from 15m in drillhole 21EHDD003; and,

o 24.8m @ 829 g/t Ag (27oz/t Ag) from 2m including 11.7m @ 1,735 g/t Ag (56oz/t Ag) and 1.7m @ 19,865g/t Ag (639oz/t Ag) from 23m, in drillhole 21EHDD001

• Additionally, significant assay results for base metals have also been returned from the same intervals, these include:

o 14.2m @ 0.18% Cu, 0.14% Ni, 0.36% Pb, 0.12% Zn and 140 g/t Co from 10.5m including 9.7m @ 0.18% Cu, 0.14% Ni, 0.27% Pb and 0.13% Zn in drillhole 21EHDD003; and,

o 24.8m @ 0.15% Cu, 0.11% Ni, 0.3% Pb, 0.22% Zn and 222 g/t Co from 2m in drillhole 21EHDD001

· Interpretation of these diamond core results suggest the mineralised envelope at Elizabeth Hill may be larger than work by previous explorers has suggested

· This mineralisation starts at surface in highly weathered, soft and easily extractable material

· A significant number of assays from the RC drilling remain outstanding

Bill Brodie Good, CEO & Technical Director of Alien Metals, commented: "These fantastic initial results support the Company's view that the near surface oxide expression of the deposit was never fully tested, nor its potential fully explored for both the silver and the base metals present. Some of these grades have to be some of the highest for a silver project in Australia. We look forward to receiving the outstanding RC drill results which will enable us to further interpret these results along with the historic results to aid in planning the next round of work programmes to advance the heavily endowed Elizabeth Hill and Munni Munni mineralised system."

From initial interpretation, there is significant and extremely high-grade silver mineralisation in what appears to be a shallow southerly dipping body that also contains some significant copper, nickel, cobalt, zinc and lead, which could easily be classed as significant asscociated products in a production scenario.

The Alien technical team is constantly in the process of reviewing the fresh data as received, as well as combining it with historic data to continue to develop plans and targets. The Company looks forward to further updating the market as more results are received.

The transfer of the Elizabeth Hill Mining Lease and the Munni Munni North ELA are still ongoing with statutory paperwork being completed to finalise the transfers soonest.

The completion of the 90% acquisition of the Hamersley Iron Ore Tenements is also ongoing with statutory paperwork beign completed to finalise the transaction soonest.

Figure 1: Location of Elizabeth Hill Silver Project, Western Australia

Table 1: Summary highlight intersections from Core drilling, Elizabeth Hill, January 2022*

Figure 2: Plan view with results of diamond core holes, Elizabeth Hill, January 2022

Figure 3: 21EHDD001 core with associated silver grades, Elizabeth Hill

- Ends -

For further information please visit the Company's website at www.alienmetals.uk, or contact:

Alien Metals Limited

Bill Brodie Good, CEO & Technical Director

(via St-James' Corporate Services, Company Secretary)

Tel: +44 20 7796 8644

Beaumont Cornish Limited (Nomad)

James Biddle / Roland Cornish

www.beaumontcornish.com

Tel: +44 (0) 207 628 3396

Turner Pope Investments (TPI) Limited (Joint Broker)

Andrew Thacker / James Pope

Tel: +44 (0) 20 3657 0050

WH Ireland Ltd (Joint Broker)

Harry Ansell / Katy Mitchell

Tel +44 (0) 207 220 1666

Yellow Jersey PR (Financial PR)

Sarah Hollins / Annabel Atkins / Matthew McHale

alienmetals@yellowjerseypr.com

Tel: +44 (0) 20 3004 9512

Competent Persons Statement

Technical Glossary:

g/t Gram per tonnne

oz/t Ounce per tonne

Ag Silver

Co Cobalt

Cu Copper

Ni Nickel

Pb Lead

Zn Zinc

PGE Platinum Group Elements

Munni Munni Complex A geological sequence of particular rocks (mafic and ultramafic) intruded into the existing units that are unique to the area and are associated with various amounts of mineralisation such as silver, gold, lead, zinc and PGE metals.

Notes to Editors

Alien Metals Ltd is a mining exploration and development company listed on the AIM market of the London Stock Exchange (LSE: UFO). The Company's focus is on precious and base metal commodities, with its operations located in proven mining jurisdictions and it has embarked upon an acquisition-led strategy headed by a high-quality geological team to build a strong portfolio of diversified assets.

In 2019, the Company acquired 51% of the Brockman and Hancock Ranges high-grade (Direct Shipping Ore) iron ore projects and with a conditional agreement to increase its interest to 90% in May 2021 also being put in place.

In 2020 the Company acquired 100% of the Elizabeth Hill Silver Project, which consists of the Elizabeth Hill Historic Silver Mine Mining Lease and the 150km2 exploration tenement around the mine. The Company also holds two silver projects, San Celso and Los Campos, located in Zacatecas State, Mexico, Mexico's largest silver producing state, which produced over 190m oz of silver in 2018 alone, accounting for 45% of the total silver production of Mexico for that year. The Company also holds a Copper Gold project in the same region, Donovan 2.

In November and December 2021, the Company entered into two Binding Heads of Agreement with ASX listed Platina Resources Ltd and Artemis Resources Limited to acquire 100% of the current joint venture interest in the Munni Munni Platinum Group Metals and Gold Project in the West Pilbara, Western Australia, one of Australia's major underexplored PGE and base metals projects. Munni Munni holds a historic deposit containing 2.2Moz 4E PGM: Palladium, Platinum, Gold, Rhodium.

The Company was also awarded an Exploration Licence in Greenland in late 2020, which surrounds the world class Citronen Zinc-Lead deposit.

Appendix 1

Table 1: All results, Core Drilling, Elizabeth Hill, January 2022

Hole ID	Sample No	From	To	Length	Ag	Co	Cu	Ni	Pb	Zn
21EHDD001	AM269051	2	3.1	1.1	75	680	4850	4020	60	450
21EHDD001	AM269052	3.1	4.1	1	390	350	2240	1940	60	250
21EHDD001	AM269053	4.1	5	0.9	435	360	10800	3800	80	300
21EHDD001	AM269054	5	6	1	1220	160	3020	3680	80	450
21EHDD001	AM269055	6	7	1	18400	120	7220	2860	80	200
21EHDD001	AM269057	7	7.8	0.8	505	370	2150	3240	60	500
21EHDD001	AM269058	7.8	8.4	0.6	420	180	940	2660	140	600
21EHDD001	AM269059	8.4	9.2	0.8	105	140	1080	1480	560	650
21EHDD001	AM269060	9.2	10	0.8	65	270	1610	2480	2440	1500
21EHDD001	AM269061	10	11	1	330	100	1270	940	4180	900
21EHDD001	AM269062	11	12	1	130	70	1450	840	1740	1100
21EHDD001	AM269063	12	12.9	0.9	100	60	1610	1000	920	900
21EHDD001	AM269064	12.9	13.7	0.8	375	30	720	200	760	300
21EHDD001	AM269065	13.7	14.6	0.9	50		1140	100	320	200
21EHDD001	AM269066	14.6	15.3	0.7	60	10	340	80	760	250
21EHDD001	AM269068	15.3	16	0.7	50		340	60	680	150
21EHDD001	AM269069	16	17	1	55	10	180	80	460	250
21EHDD001	AM269070	17	18	1	35		90	60	80	200
21EHDD001	AM269071	18	19	1	40	10	280	100	420	200
21EHDD001	AM269072	19	20	1	40		110	40	60	100
21EHDD001	AM269073	20	20.8	0.8	70	10	180	60	40	150
21EHDD001	AM269074	20.8	21.6	0.8	60	20	240	60		300
21EHDD001	AM269075	21.6	22.4	0.8	80	20	250	100	40	150
21EHDD001	AM269076	22.4	23	0.6	15	20	90	60		150
21EHDD001	AM269077	23	24	1	15	30	230	100	40	200
21EHDD001	AM269078	24	24.6	0.6	20	20	190	80	20	150
21EHDD001	AM269079	24.6	25.7	1.1	35		110	20	100	100
21EHDD001	AM269081	25.7	26.8	1.1	35		70	40	140	100
21EHDD001	AM269082	26.8	27.6	0.8	5	40	320	80	20	250
21EHDD001	AM269083	27.6	28.6	1		40	80	100		350
21EHDD001	AM269084	28.6	29.6	1		50	320	80		300
21EHDD001	AM269085	29.6	30.6	1	15	20	150	60	60	350
21EHDD001	AM269086	30.6	31.6	1	5	30	80	100	220	150
21EHDD001	AM269087	31.6	32.5	0.9		30	50	140	60	150
21EHDD001	AM269088	32.5	33.2	0.7			60	60	200	250
21EHDD002	AM269089	0	1	1		80	490	740		300
21EHDD002	AM269090	1	2	1		70	580	760		100
21EHDD002	AM269091	2	3	1		70	370	580		200
21EHDD002	AM269092	3	4	1	10	70	580	680	20	150
21EHDD002	AM269093	4	5	1	10	90	440	800		150
21EHDD002	AM269094	5	6	1	15	110	930	1040		150
21EHDD002	AM269095	6	7	1		110	770	920	60	250
21EHDD002	AM269097	7	8	1		150	340	1500		100
21EHDD002	AM269098	8	9	1		170	700	1200	20	300
21EHDD002	AM269099	9	10	1		90	600	720	40	250
21EHDD002	AM269100	10	11	1		70	390	580		100
21EHDD002	AM269101	11	12	1	5	90	440	700		150
21EHDD002	AM269102	12	13	1	10	130	640	1060	20	250
21EHDD002	AM269103	13	14	1	5	120	560	960	20	150
21EHDD002	AM269104	14	15	1	20	470	1750	4820	3100	8650
21EHDD002	AM269106	15	16	1	15	140	1470	1720	80	550
21EHDD002	AM269107	16	17	1	15	150	1590	1860	80	550
21EHDD002	AM269108	17	18	1	15	80	830	840	20	100
21EHDD002	AM269109	18	18.8	0.8	30	110	2330	1220	60	200
21EHDD002	AM269111	18.8	19.4	0.6		70	210	540		150
21EHDD002	AM269112	19.4	20	0.6		80	190	480		150
21EHDD002	AM269113	20	21	1		70	230	520		100
21EHDD002	AM269114	21	22	1	5	70	410	660		150
21EHDD002	AM269115	22	23	1	30	110	1900	1240		150
21EHDD002	AM269116	23	24	1	15	70	390	800	140	150
21EHDD002	AM269117	24	25	1	15	80	820	960	40	200
21EHDD002	AM269118	25	26	1		20	120	160	60	150
21EHDD002	AM269119	26	27	1		50	340	360	20	150
21EHDD002	AM269120	27	28	1		40	140	140		150
21EHDD002	AM269121	28	28.8	0.8		30	140	80	60	150
21EHDD002	AM269122	28.8	29.5	0.7			50	20	80
21EHDD002	AM269123	29.5	30.4	0.9		20	480	100	100	150
21EHDD002	AM269124	30.4	31.4	1		40	200	100	60	200
21EHDD002	AM269125	31.4	32.4	1		30	260	100	40	400
21EHDD002	AM269126	32.4	33.3	0.9		30	210	220	60	500
21EHDD002	AM269127	33.3	34	0.7		40	600	300	140	300
21EHDD002	AM269129	34	35	1	15	40	4960	860	180	650
21EHDD002	AM269130	35	36	1		10	190	100	420	250
21EHDD002	AM269131	36	37	1		30	670	300	140	300
21EHDD002	AM269132	37	38	1		30	160	120	40	150
21EHDD002	AM269133	38	39	1		60	310	260		300
21EHDD002	AM269134	39	40	1		60	350	280		200
21EHDD002	AM269135	40	41	1		50	440	300	20	300
21EHDD002	AM269136	41	42	1	5		70	60	40
21EHDD002	AM269137	42	43	1	10		40	60	20	200
21EHDD002	AM269138	43	44	1			30		40	100
21EHDD002	AM269139	44	45	1			30	20		100
21EHDD002	AM269141	45	46	1			20	20	40	100
21EHDD002	AM269142	46	47	1			40	60		150
21EHDD002	AM269143	47	48.2	1.2	10		30	20	20	100
21EHDD003	AM269144	0	1	1		150	730	1380	120	150
21EHDD003	AM269145	1	2	1		180	340	1300		150
21EHDD003	AM269146	2	3	1		170	430	1480		150
21EHDD003	AM269147	3	4	1		90	700	820	20	150
21EHDD003	AM269148	4	5	1		60	1010	860	40	250
21EHDD003	AM269149	5	6	1	75	70	960	860	60	150
21EHDD003	AM269150	6	7	1	40	100	1430	1140		150
21EHDD003	AM269152	7	8	1	10	90	990	940	20	200
21EHDD003	AM269153	8	9	1		120	340	800	420	350
21EHDD003	AM269154	9	9.8	0.8	10	90	310	720	40	200
21EHDD003	AM269155	9.8	10.5	0.7	15	110	290	780	20	150
21EHDD003	AM269156	10.5	11.2	0.7	15	180	2310	2120	60	300
21EHDD003	AM269157	11.2	12.1	0.9	5	160	1470	1520	2080	850
21EHDD003	AM269158	12.1	13	0.9		150	1720	1240	5220	1150
21EHDD003	AM269160	13	14	1	55	110	1640	1000	11200	1250
21EHDD003	AM269161	14	15	1	155	170	1290	1620	7720	1600
21EHDD003	AM269162	15	15.7	0.7	36300	380	9100	3980	6460	1350
21EHDD003	AM269164	15.7	16.7	1	105	120	1460	1240	2800	1800
21EHDD003	AM269165	16.7	18.1	1.4	20	70	850	860	4180	1750
21EHDD003	AM269166	18.1	19	0.9	30	70	580	700	3660	1600
21EHDD003	AM269167	19	20	1	55	50	370	520	6020	950
21EHDD003	AM269168	20	20.9	0.9	1960	130	1130	1420	1180	1450
21EHDD003	AM269170	20.9	22	1.1	780	130	810	1260	1400	1450
21EHDD003	AM269171	22	23	1	620	100	810	1080	920	1500
21EHDD003	AM269172	23	24	1	11300	90	1060	900	380	750
21EHDD003	AM269173	24	24.7	0.7	32100	200	1800	1860	180	550
21EHDD004	AM269175	1	2	1	9910	140	1260	1220	60	250
21EHDD004	AM269176	2	3	1	10	90	530	620	20	100
21EHDD004	AM269177	3	4	1	10	100	590	720	40	200
21EHDD004	AM269178	4	5	1	35	90	740	820		150
21EHDD004	AM269179	5	6	1	35	100	690	800		100
21EHDD004	AM269180	6	7	1	10	90	300	640		100
21EHDD004	AM269181	7	7.9	0.9		90	260	620		100
21EHDD004	AM269182	7.9	8.6	0.7	15	100	990	1060		150
21EHDD004	AM269183	8.6	9.45	0.85		60	740	800		100
21EHDD004	AM269184	9.45	10.4	0.95	25	70	420	700		150
21EHDD004	AM269185	10.4	11.3	0.9		80	670	940		100
21EHDD004	AM269186	11.3	12.3	1		90	820	960		100
21EHDD004	AM269187	12.3	13.3	1		90	680	980		100
21EHDD004	AM269189	13.3	14.4	1.1		70	400	780		100
21EHDD004	AM269190	14.4	15.4	1		80	300	760		100
21EHDD004	AM269191	15.4	16.4	1	5	80	260	740		100
21EHDD004	AM269192	16.4	17.4	1	5	80	340	780		200
21EHDD004	AM269193	17.4	18.4	1		80	190	680
21EHDD004	AM269194	18.4	19.5	1.1		80	150	660		100
21EHDD004	AM269195	19.5	20.6	1.1		80	200	620		100
21EHDD004	AM269196	20.6	21.6	1		80	470	740		100
21EHDD004	AM269197	21.6	22.7	1.1		100	1720	1120		100
21EHDD004	AM269198	22.7	23.8	1.1		100	1680	1020		200
21EHDD004	AM269200	23.8	24.9	1.1		90	570	700		150
21EHDD004	AM269201	24.9	26	1.1		80	430	660		100
21EHDD004	AM269202	26	27	1	5	90	380	620		150
21EHDD004	AM269203	27	28	1		90	310	580		100
21EHDD004	AM269204	28	29	1		80	240	460		100
21EHDD004	AM269205	29	30	1		80	600	660		150
21EHDD004	AM269207	30	31	1		80	530	720	20	150
21EHDD004	AM269208	31	32	1		90	810	800		150
21EHDD004	AM269209	32	33	1		80	220	520	20	250
21EHDD004	AM269210	33	34	1		100	1350	1020		150
21EHDD004	AM269211	34	35	1		90	820	820	20	100
21EHDD004	AM269212	35	36	1		80	530	640		100
21EHDD004	AM269213	36	37	1		100	1020	940		100
21EHDD004	AM269214	37	38	1		100	1340	1120		100
21EHDD004	AM269215	38	39	1		90	760	820		100
21EHDD004	AM269216	39	40	1		80	220	560		100
21EHDD004	AM269217	40	41	1		70	150	520		150
21EHDD004	AM269218	41	42	1		80	130	580		100
21EHDD004	AM269219	42	43	1		80	200	580		100
21EHDD004	AM269220	43	44	1		80	200	640		100
21EHDD004	AM269221	44	45	1		80	420	720		100
21EHDD004	AM269222	45	46	1		80	200	600		100
21EHDD004	AM269223	46	47	1		80	210	620		100
21EHDD004	AM269224	47	48	1		80	180	580		100
21EHDD004	AM269225	48	49	1		80	520	740		100
21EHDD004	AM269226	49	50	1		80	280	660		100
21EHDD004	AM269227	50	51	1		80	460	700		100
21EHDD004	AM269228	51	52	1		80	210	600		100
21EHDD004	AM269229	52	53	1		80	570	860		100
21EHDD004	AM269230	53	54	1		80	440	740		100
21EHDD004	AM269231	54	55	1		70	220	640		150
21EHDD004	AM269232	55	56	1		40	80	340		100
21EHDD004	AM269234	56	57	1		70	90	600
21EHDD004	AM269235	57	58	1		70	220	680
21EHDD004	AM269236	58	59	1		80	560	780		100
21EHDD004	AM269237	59	60	1		80	310	660		100
21EHDD004	AM269238	60	61	1		70	90	740
21EHDD004	AM269239	61	62	1		80	200	700
21EHDD004	AM269240	62	63	1		80	380	820
21EHDD004	AM269241	63	64	1		90	400	880		100
21EHDD004	AM269242	64	65	1		70	360	720		100
21EHDD004	AM269243	65	66	1		80	420	800		100
21EHDD004	AM269245	66	67	1		80	370	720
21EHDD004	AM269246	67	68	1		110	890	1160		100
21EHDD004	AM269247	68	69	1		80	500	800
21EHDD004	AM269248	69	70	1		80	520	720
21EHDD004	AM269249	70	71	1		80	490	620		100
21EHDD004	AM269250	71	72	1		90	750	720		100
21EHDD004	AM269251	72	73	1		90	1030	800		100
21EHDD004	AM269252	73	74	1		140	3650	1840		100
21EHDD004	AM269254	74	75	1		90	910	860		100
21EHDD004	AM269255	75	76	1		90	820	820		150
21EHDD004	AM269256	76	77	1		80	870	780	20	150
21EHDD004	AM269257	77	78	1		80	540	720	20	100
21EHDD004	AM269258	78	79	1		80	590	720		100
21EHDD004	AM269259	79	80	1		70	260	600		100
21EHDD004	AM269260	80	81	1		80	340	720		100
21EHDD004	AM269261	81	82	1		80	780	900		100
21EHDD004	AM269262	82	83	1		70	330	700		100
21EHDD004	AM269263	83	84	1		70	340	740
21EHDD004	AM269264	84	85	1		70	520	660
21EHDD004	AM269265	85	86	1		80	570	860	60	100
21EHDD004	AM269266	86	87	1		80	400	860	40	100
21EHDD004	AM269267	87	88	1	10	180	1880	2640		100
21EHDD004	AM269269	88	89	1		80	830	860		100
21EHDD004	AM269270	89	90	1		90	1510	1080		100
21EHDD004	AM269271	90	91	1	5	130	2450	1680		100
21EHDD004	AM269272	91	92	1
21EHDD004	AM269274	92	93	1	10	140	1990	1700	20	100
21EHDD004	AM269275	93	94	1		70	350	640		100
21EHDD004	AM269276	94	95	1		80	390	700		100
21EHDD004	AM269277	95	96	1		70	320	640		100
21EHDD004	AM269278	96	97	1	25	250	2120	3300	20	150
21EHDD004	AM269280	97	98	1	10	90	660	940	20	150
21EHDD004	AM269281	98	99	1		70	400	680	40	150
21EHDD004	AM269282	99	100	1	10	70	540	740	140	150
21EHDD004	AM269283	100	101	1	15	70	880	700	40	450
21EHDD004	AM269284	101	102	1	10	80	540	820	80	400
21EHDD004	AM269285	102	103	1	15	80	580	780	100	200
21EHDD004	AM269286	103	104	1	45	40	140	520	120	400
21EHDD004	AM269287	104	105	1	50	80	340	820	60	750
AM21DD004	AM269289	105	106.1	1.1	40	50	820	580	120	400

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