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Trading Symbols

AIM: UFO

FWB: I3A1

3 December 2025

Alien Metals Limited

("Alien" or the "Company")

Transaction Update - GreenTech announces A$5.2m capital raise to expedite exploration at Munni Munni PGE-Cu-Ni project

Capital Raising Condition Satisfied

Alien Metals Limited (AIM: UFO), a minerals exploration and development company, is pleased to provide an update on the conditional transaction announced on 1 December 2025 between its wholly owned subsidiary, Alien Metals Australia Pty Ltd ("AMA"), and GreenTech Metals Limited (ASX: GRE) ("GreenTech") regarding the Munni Munni PGM-Cu-Ni Project (the "Project").

One of the key conditions precedent has been satisfied

GreenTech has today announced that it has secured firm commitments of approximately A$5.2 million at A$0.055 per share from institutional and sophisticated investors in an oversubscribed placement ("the Placement").

This satisfies one of the key conditions precedent under the Sale Agreement announced on 1 December 2025.

GreenTech will require shareholder approval to finalise the Placement in full.

Remaining Conditions Precedent

Completion of the Transaction remains subject to the satisfaction or waiver of the remaining conditions precedent under the Sale Agreement, including:

o GreenTech shareholder approval for the issue of the Consideration Shares in accordance with ASX Listing Rule 7.1, and for the Placement.

o Execution of the Joint Venture Agreement between AMA and GreenTech.

o Execution of ancillary agreements required for the Joint Venture to proceed.

o Any remaining third-party or regulatory approvals required under the Transaction documents.

Completion will occur ten Business Days following satisfaction or waiver of all conditions precedent.

Further details are set out in the Company's announcement of 1 December 2025.

Munni Munni: Immediate Commencement of Work

The Sale Agreement allows GreenTech to commence work on the Munni Munni Project prior to completion of the Joint Venture, at their own risk. GreenTech has advised that proceeds of the Placement are to be allocated to immediate work programs at the Munni Munni Project, with drilling commencing imminently. The initial program comprises approximately 20 holes designed to twin selected historic holes with the intention of providing the validation required to support conversion of the existing Mineral Resource to JORC (2012) in early 2026. A detailed operational update, including drilling schedules and technical work programs, will be disclosed following receipt of GreenTech's finalised plan.

Belinda Murray, Executive Director of Alien Metals, commented:

"We are pleased that our planned joint venture partner has received strong support from existing GreenTech shareholders and new investors, providing us with confidence that the transaction is on track to complete in the coming weeks. The funds raised will be used to conduct the first drilling program for many years at the Munni Munni platinum group elements - copper - nickel project, with drilling expected to commence imminently. Alien shareholders will benefit from this work and, assuming completion of the JV as expected, will be free carried to a bankable feasibility study, minimising dilution to shareholders."

Strategic Benefits of the Transaction

·    Alien will retain a 30% free carried interest through to completion of a bankable feasibility study at a large scale, multi-commodity PGM-Cu-Ni system.

·    A$0.5 million cash consideration and 47 million GreenTech shares equate to a 17.37% shareholding, providing exposure to both project-level advancement and GreenTech's broader regional strategy across a consolidated 346km² land position, including Munni Munni PGE-Cu-Ni project and GreenTech's 100% owned Whundo Copper deposit.

·    GreenTech has strengthened its team with the appointment of Mr Stefan Murphy as Non-Executive Director and Mr Kevin Frost as Technical Adviser. Mr Murphy offers over 20 years' experience in exploration, operations and corporate finance, including leading the Robe Mesa development at CZR Resources through to its sale to Rio Tinto and partners. Mr Frost adds discovery expertise from work on the Chalice project, recognised globally when the Chalice discovery team was awarded the 2023 PDAC Thayer Lindsley Award for excellence in global mineral exploration. The new team provides a blend of Pilbara operational knowledge, project development capability and proven discovery success.

·    Supports Alien's balanced strategy of advancing, strengthening and optimising its asset base through targeted technical work and selective monetisation. 

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 / Edward Foulkes

Tel: +44 (0) 207 409 3494

Zeus Capital Limited (Joint Broker)

Harry Ansell / Katy Mitchell Tel +44 (0) 203 829 5000

Turner Pope (Joint Broker)

Andy Thacker / Guy McDougall

Tel: +44 (0) 203 657 0050

Yellow Jersey (Financial PR)

Charles Goodwin / Shivantha Thambirajah

Tel: +44 (0) 203 004 9512

Notes to Editors

Alien Metals Ltd is a mining exploration and development company listed on the AIM market of the London Stock Exchange (AIM: UFO). The Company follows a balanced strategy of advancing and strengthening its asset portfolio through targeted technical work and project development, while evaluating partnerships, joint ventures, and selective monetisation opportunities that are value-enhancing for shareholders. At the same time, Alien will continue to consider opportunities to expand our asset base through carefully selected acquisition opportunities which meet the Board's prudent criteria.

Alien's principal focus is the advancement and development of its 90%-owned Hancock Iron Ore Project in the central Pilbara region of Western Australia. The Hancock tenements contain a JORC-compliant resource of 8.4Mt at 60% Fe and offer significant exploration upside, which is targeted to deliver a mining operation of 2Mtpa for 10 years. The Project benefits from direct access to the Great Northern Highway, providing a route to export facilities at Port Hedland, one of the world's largest iron ore export hubs. Alien also holds exploration interests in the Brockman and Vivash iron ore projects in the West Pilbara.

Alien additionally retains exposure to two advanced precious and base metal assets in the Pilbara. At Munni Munni, one of Australia's largest PGM systems hosting a historic resource of 2.2Moz PGM (Palladium, Platinum, and Rhodium) and gold, the Company has entered into a conditional joint venture with GreenTech Metals Ltd, under which Alien will retain a 30% interest, free carried to the completion of a bankable feasibility study. Alien also retains a 30% interest in the Elizabeth Hill Silver Project through a joint venture with West Coast Silver Limited, which encompasses 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 1990s.