Heritage Agreements signed for Hancock Project

Trading Symbols

AIM: UFO

FWB: I3A1

3 October 2023

Alien Metals Ltd

("Alien" or "the Company")

Heritage Agreements signed for Hancock Iron Ore Project Exploration Licences and Miscellaneous Licence

Alien Metals Ltd (AIM: UFO), a minerals exploration and development company, is pleased to announce its subsidiary company Iron Ore Company of Australia ("IOCA") has executed Heritage Agreements ("HPAs") with the Karlka Nyiyaparli Aboriginal Corporation RNTBC ("KNAC") associated with two exploration licences and one miscellaneous licence for its 90% owned Hancock Iron Ore Project ("Hancock Project"), in the Pilbara Region, Western Australia.

Highlights:

·  IOCA has entered into the HPAs with KNAC for exploration licence applications E 47/4817, E 47/5001, and Miscellaneous Licence application L 47/1063 at the Hancock Project ("the Licences").

·  The Nyiyaparli native title determination spans the Hancock Project and associated tenements, which have significant potential for additional iron ore discoveries (AIM: 2 August 2023).

·  The HPAs are a critical step in the Company's engagement with Nyiyaparli Traditional Owners in relation to the Hancock Project and their endeavours for long-term collaboration, cooperation and agreed protection measures for areas of cultural importance to Nyiyaparli people and inter alia provide the basis for the Company undertaking the required heritage surveys.

·   The HPAs provide for the grant of the Licences without objection by native title parties, including the withdrawal of existing objections as well as mechanisms for engagement with the Nyiyaparli People and the conduct of heritage surveys.

·  The miscellaneous licence provides the Company necessary tenure to construct essential infrastructure (subject to FID) for road access from the Great Northern Highway to the proposed mine site.

·   The finalisation of the HPAs reflects the constructive relationship Alien has developed with KNAC as the registered representative body for Nyiyaparli Native title Holders as it continues negotiations on a separate mining agreement providing for common law holders' consent to the grant of mining tenure and operations, which is due to be considered by the end of 2023.

Troy Whittaker, Chief Executive Officer commented:

"The Company and its Board would like to thank the Karlka Nyiyaparli Aboriginal Corporation and its Board of Nyiyaparli Directors for their support in reaching this significant milestone regarding the relevant Licences. We are delighted to have signed the HPAs as they will further advance the approvals pathway and in the long-term, it will assist in the Company de-risking the project execution for the Hancock Project".

Further Information

Figure 1: Location of the Company's Iron Ore Projects, Western Australia

Figure 2: Hancock Project Tenements  

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

Beaumont Cornish Limited (Nomad)

James Biddle / Roland Cornish   Tel: +44 (0) 207 628 3396

WH Ireland Ltd

Harry Ansell / Katy Mitchell   Tel +44 (0) 207 220 1666

BlytheRay (Financial PR)

Tim Blythe / Megan Ray / Said Izagaren   Tel: +44 (0) 20 7138 3204

Market Abuse Regulation (MAR) Disclosure

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

Notes to Editors:

Alien Metals Ltd is a mineral exploration and development Company listed on the AIM market of the London Stock Exchange (LSE: UFO). The Company's focus is on delivering a near term direct shipping iron ore operation at the Hancock Project in the Pilbara region of Western Australia.

In 2019, the Company acquired 51% of the Brockman and Hancock Ranges high-grade (Direct Shipping Ore) iron ore projects and in December 2022 moved to 90% legal and beneficial ownership. In May 2023, the Company also acquired 100% of Mallina Exploration Pty Ltd and with it, the Western Hancock Tenement. The new tenement adjoins the Company's existing Hancock tenement, giving the entire Hancock project direct access to the Great Northern Highway.

The Company also acquired 100% of the Vivash Gorge Iron Ore project in the west Pilbara in July 2022.

The Company owns 100% of the Elizabeth Hill Silver Project, which consists of the Elizabeth Hill Historic Mining Lease and the 115km² exploration tenement around the mine.

In March 2022 the Company acquired 100% of the former joint venture interest in the broader Pinderi Hills tenement group in the West Pilbara, Western Australia. This includes the Munni Munni Platinum Group Metals Project, 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 Pinderi hills tenement group also has significant Nickel and Copper prospectivity.

The Company also holds silver, copper and base metal projects in Mexico, however is currently looking at the best way to divest these for the benefit of shareholders.