THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (596/2014/EU) AS THE SAME HAS BEEN RETAINED IN UK LAW AS AMENDED BY THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

12 May 2026

Alien Metals Limited

("Alien" or the "Company")

Munni Munni JV Partner GreenTech Announces A$7.5 Million Placement

Alien Metals Limited (AIM: UFO), a minerals exploration and development company, is pleased to announce that its joint venture partner at the Munni Munni Platinum-Palladium-Copper-Nickel Project ("Munni Munni" or the "Project") in Western Australia, GreenTech Metals Limited (ASX: GRE) ("GreenTech"), has successfully raised gross proceeds of A$7.5 million via an issue of new shares. The funds will be used primarily to commence Phase II exploration and development activities at Munni Munni and GreenTech's Whundo project.

Highlights

·    GreenTech, Alien's JV partner at Munni Munni Project (Alien holds a 30% interest), has announced an agreement to raise A$7.5 million from institutional and sophisticated investors to, inter alia, advance exploration at Munni Munni following positive recent assay results.

·    This capital raise brings the total Project fundraising by GreenTech to over A$12.0 million in the past six months, significantly increasing the financial capacity for exploration and technical programmes at the significant Munni Munni Australian critical metals project.

·    As part of the capital raising, Alien has sold a proportion of its holding in GreenTech to institutions, raising cash proceeds of approximately A$700,000 (before costs) through the sale of nine million GRE shares at a price of A$0.075 per GreenTech share. The net proceeds of the sale of the shares will augment the Company's existing cash resources and be applied to the progression of its assets, while maintaining a material exposure to the Project.

·    The capital raise by GreenTech will be completed in two tranches with approximately 50% to be issued under Tranche 1 using GreenTech's existing placement capacity and the remaining 50% to be issued under Tranche 2 subject to shareholder approval.

·    Following completion of the capital raise, Alien will hold 37.9 million shares in GreenTech, representing approximately 10% of GRE's issued share capital, following allotment of the Tranche 2 Shares.

The fundraise is seen by Alien's directors as a strong validation of the Munni Munni Project and demonstrates the JV partner's ability to attract capital for systematic exploration. GreenTech's exploration programme is led by a highly experienced technical team, including Dr Kevin Frost, who was part of the discovery team at Chalice Mining's (ASX: CHN) world class PGM-base metals Julimar Project, also in Western Australia.

Bruce Garlick, Chairman of Alien Metals, commented:

"I believe that the decision to progress the Munni Munni Platinum-Palladium-Copper-Nickel Project with a well-funded joint venture partner with access to deeper pools of capital is the correct one for Alien. In particular, it positions Munni Munni to be advanced efficiently by a partner with a technical capability including a world class discovery team and financial resources to deliver exploration success."

Alien holds a 30% interest, free carried to the completion of a bankable feasibility study at Munni Munni, together with a meaningful shareholding in GreenTech, providing Alien with exposure to key critical metals and precious metals including copper, nickel, platinum, and palladium.

In addition to the Company's project interests, Alien holds shares in two listed ASX companies comprising  37.9 million shares in GreenTech (post disposal), representing an approximate 10% interest in the issued share capital of GreenTech (following allotment of the Tranche 2 Shares) and 30 million shares in silver developer and explorer West Coast Silver (ASX:WCE) representing approximately 8.7% of the issued share capital of the company.

Terms used in this announcement and not defined will have the same meaning as given to them as given in the GreenTech announcement released on 12 May 2026 and titled 'Oversubscribed $7.5 million Placement'.

The full text of the announcement issued by GreenTech is available via the following link: GreenTech Announcement - Oversubscribed $7.5 million Placement

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

Alien Metals Limited

Bruce Garlick

Email: ir@alienmetals.uk

Strand Hanson (Financial and Nominated Adviser)

James Harris / James Dance / Edward Foulkes

Tel: +44 (0) 207 409 3494

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.