Elizabeth Hill – Growth & Development Plan

6 May 2026

Alien Metals Limited

("Alien" or the "Company")

Elizabeth Hill - Growth & Development Plan

Alien Metals Limited (AIM: UFO), a minerals exploration and development company, notes the release of an announcement from its joint venture partner at the Elizabeth Hill Silver Project ("Elizabeth Hill"), West Coast Silver Limited ("West Coast Silver") (ASX: WCE), which outlines the growth and development plan (the "Plan") for Elizabeth Hill in the West Pilbara, Western Australia following the release of its inaugural Mineral Resource on 22 April 2026 and recent high-grade drilling results.

Key Highlights:

·    The Plan establishes a clear pathway to near-term production and scalable resource growth, positioning Elizabeth Hill as one of the highest-grade for lowest capital cost undeveloped silver projects globally.

·    The Plan aims to unlock silver resource value and transition Elizabeth Hill to near-term, high-margin operation with phased growth.

·    High-margin starter open pit: Exceptional grade, low tonnage, 130m deep open pit key to a low capex, rapid payback pathway to position Elizabeth Hill for early cashflow generation.

·    De-risking production: Granted Mining Lease, historic production and simple metallurgy precedents support an accelerated route to development.

·    Growth beyond inaugural Mineral Resource Estimate: Open mineralisation at depth, laterally and along strike.

·    Realising increased tonnage and silver metal: +6,000m Reverse Circulation and diamond drilling in progress to expand the mineral resource and derisk resources from Inferred to Indicated status within the April 2026 optimised 20 g/t Ag pit shell.

·    Further details on the Plan are provided in West Coast Silver's updated investor presentation released today.

Alien holds a 30% interest in Elizabeth Hill and holds 30.5 million shares in West Coast Silver (representing an 8.7% interest in the issued share capital of West Coast Silver).

The full West Coast Silver announcement is available at: Elizabeth Hill - Growth & Development Plan

The updated West Coast Silver investor presentation is available at: Investor Presentation

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

Alien Metals Limited

Bruce Garlick

Email: [email protected]

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

IFC Advisory (Financial PR and Investor Relations)

Tim Metcalfe / Graham Herring / Zach Cohen

Tel: +44 (0) 203 934 6632

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 completed its partial asset sale and joint venture transaction with GreenTech Metals Ltd, under which Alien has divested a 70% interest in the Munni Munni tenements to GreenTech and Alien will retain a 30% interest, free carried to the completion of a bankable feasibility study at Munni Munni. Alien (via wholly owned subsidiary A.C.N. 643 478 371 Pty Ltd) also retains a 30% interest in the Elizabeth Hill Silver Project through a joint venture with Crest, which encompasses the Elizabeth Hill Mining Lease M47/342, which has produced some of Australia's highest-grade silver ore during the late 1990s. Alien retains a 30% interest in the Elizabeth Hill Silver Project and additionally holds 30.5 million shares in West Coast Silver Limited, providing both direct project exposure and equity participation in ongoing development.