Joint venture partner commences fieldwork

Trading Symbols

AIM: UFO FWB: I3A1

2 April 2025

Alien Metals Limited

("Alien" or the "Company")

 Joint venture partner commences fieldwork at high-grade Elizabeth Hill Silver Project

High-priority targets being defined for upcoming drill programme

Alien Metals Limited (AIM: UFO), a minerals exploration and development company, is pleased to announce that joint venture partner, Errawarra Resources Ltd (ASX: ERW) ("Errawarra") has commenced fieldworks at the Elizabeth Hill Silver Project ("Elizabeth Hill") in the Pilbara, Western Australia.

Following Alien's announcement on 24 March 2025 outlining the joint venture with Errawarra, Errawarra has swiftly mobilised its geological team to the site to conduct key exploration activities which will feed into drill targeting and refinement for a planned inaugural drill campaign, scheduled to commence in 6-8 weeks.

Highlights

·    The exploration team have mobilised to site to commence fieldwork in advance of Errawarra's inaugural drilling programme at Elizabeth Hill.

·    Field work focus will be on identifying and prioritising silver targets for drill testing associated with the historic mine and regional targets located within the large, consolidated land package of 180km².

·    Historical drill core review is already underway at site utilising pXRF technology to qualitatively identify other elements which may not have been assayed for previously.

·    Selected samples of historical drill core have been dispatched to the laboratory for geochemical analysis to further understand the genesis associated with the Elizabeth Hill mineralisation model

·    Infill soil sampling has been planned to utilise a closer grid spacing on selected areas.

·    The exploration team will carry out prospecting and structural mapping within the locality of the historic mining operation and on more regional targets.

·    Fieldwork will aim to define targets to be tested as part of Errawarra's inaugural drill campaign set to commence in 6-8 weeks.

·    Exploration strategy being developed in conjunction with an experienced team of ERM consultants and technical directors.

Guy Robertson, Chairman of Alien Metals, commented:

"The commencement of fieldwork at Elizabeth Hill marks a pivotal step forward in the exploration strategy of our joint venture with Errawarra. The swift mobilisation of the geological team reflects the strong conviction in the project's potential and aligns with our shared ambition to unlock further value from this historically significant silver asset. Importantly, Alien is free-carried through to a decision to mine, allowing Alien to retain meaningful upside exposure without funding obligations during this exploration phase. With early-stage works now underway and a maiden drill programme on the near horizon, we are excited by the momentum building at Elizabeth Hill and look forward to keeping shareholders informed as the programme progresses."

Figure 1 - Errawarra geologists on site at Elizabeth Hill. Geologists in the foreground analysing utilising pXRF technology and Elizabeth Hill headframes in the background.

Fieldwork Summary

Errawarra geologists have mobilised to the site where the focus will be on identifying high-priority silver targets for potential drill testing associated with both the historic mine and regionally. These high-priority targets will be defined using the following methods:

1.    Historical Core Material Review

Relogging of historical drill holes has commenced along with pXRF analysis of the drill core. The historical core which is available to Errawarra geologists is being selectively sampled with initial samples already sent to ALS Global Laboratory in Perth for geochemical/mineralogical analyses.

Results from these analyses will be used for an ore characterisation study including pathfinder element identification which will provide the basis for interpretation of soil sample geochemical results.

2.    Soil Sampling Infill Works

Soil sampling is about to get underway and will target 8 discrete areas where previous soil sampling programmes have highlighted anomalous silver occurrences.

Follow-up soil grids will be on a tighter 50m x 50m grid to validate and refine silver anomalies readings which will lead to target generation. Samples will also be analysed for a 48-element suite.

3.    Mapping Prospecting Works

Structural mapping and prospecting will also be undertaken at high-priority areas over the 180km² land package. This will be carried out to identify the following;

a)    Gossans;

b)    Structures; and

c)    Alteration.

This information will be utilised to identify potential repeat Elizabeth Hill mineralised occurrences.

Figure 2 - Errawarra geologists in the field at Elizabeth Hill

4.    Desktop modelling and assessment works

In conjunction with exploration fieldworks, desktop modelling will continue to assess the following areas associated with the historical Elizabeth Hill deposit including:

a)    Modelling of the historic drill and mining data for the Elizabeth Hill deposit to identify untested potential extensions to the mineralisation both down dip and along strike; and

b)    Modelling of the historic data to identify potential for an open-pit resource.

The Elizabeth Hill Project

Elizabeth Hill is one of Australia's high-grade silver projects and has a proven production history outlined below:

·    High grades enabled low processing tonnes: 1.2Moz of silver was produced from just 16,830t of ore at a head grade of 2,194g/t (77.4 oz/t Ag)

·    Previous mining operation ceased in 2000: because of low silver prices (US$5) 

·    Simplistic historical processing technique: native silver was recovered via low-cost gravity separation techniques

·    Untapped potential remains in ground with deposit open at depth and the recent consolidation of land package offers the potential to discover more Elizabeth Hill style deposits.

·    Tier 1 Mining Jurisdiction is located on a mining lease with a potential processing option at the nearby Radio Hill site.

Figure 3 - Tenement Location

Through the consolidation of the surrounding land packages into a single contiguous 180km² package significant exploration and growth potential exists both near mine and regionally.

The land package holds a significant portion of the Munni Munni fault system which is considered prospective for repetitive silver deposits.

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

Strand Hanson (Financial and Nominated Adviser)

James Harris / James Dance / Robert Collins

Tel: +44 (0) 207 409 3494

Zeus Capital Limited (Joint Broker)

Harry Ansell / Katy Mitchell

Tel +44 (0) 203 829 5000

CMC Markets (Joint Broker)

Douglas Crippen

Tel: +44 (0) 203 003 8632

Yellow Jersey (Financial PR)

Charles Goodwin / Shivantha Thambirajah / Zara McKinlay

Tel: +44 (0) 203 004 9512

Notes to Editors

Alien Metals Limited is a mining exploration and development company listed on the AIM market of the London Stock Exchange (AIM: UFO). The Company's focus is on delivering a profitable direct shipping iron ore operation from it 90% Hancock iron ore project in the central Pilbara region of Western Australia. The Hancock tenements currently contain a JORC-compliant resource of 8.4Mt iron ore @ 60% Fe and offers significant exploration upside which is targeted to deliver a mining operation of 2Mtpa for 10 years.

These Hancock Project tenements have direct access to the Great Northern Highway, which provides an essential export route to export facilities at Port Hedland, from where more than 500Mt of iron ore is exported annually (30% of global production). The Company also has an interest in two iron ore exploration projects Brockman and Vivash, located in the West Pilbara.

The Company owns the Elizabeth Hill Silver Project, located near Karratha in the Pilbara, which consists of the Elizabeth Hill Mining Lease and exploration tenements surrounding the historical silver mine which has produced some of Australia's highest-grade silver ore during the late 1990's. The Company also owns one of Australia's largest PGM deposits, Munni Munni which hosts a deposit containing a historic resource of 2.2Moz PGM (Palladium, Platinum, Gold, and Rhodium).