Inaugural Drilling to commence at Elizabeth Hill

Trading Symbols

AIM: UFO

FWB: I3A1

4 August 2021

Alien Metals Ltd

("Alien" or "the Company")

Inaugural Drilling to commence at Elizabeth Hill - Australia's highest-grade silver mine

Follow the link to view the announcement in full including all figures:
http://www.rns-pdf.londonstockexchange.com/rns/4787H_1-2021-8-3.pdf

Alien Metals Ltd (LSE AIM:UFO), a minerals exploration and development company, is pleased to announce that its inaugural drilling programme is due to commence in the coming days on the Elizabeth Hill Silver Project.

Highlights

·    Alien has mobilised a diamond drill rig to commence its inaugural drilling programme at the Elizabeth Hill Silver Project  

·    7 diamond core holes for a planned total of 650m designed to test for extensions to the known mineralisation both along strike and at depth and to complete initial verification work (QA/QC) on historical drilling

·    The programme also aims to test for a much larger mineralised system the Company believes is present

·    Historical drilling intersected incredibly high-grade zones with numerous intersections over 10,000 g/t Ag and a peak assay of 34,300 g/t Ag (3.4% Ag)

·    Elizabeth Hill was mined between 1998 and 2000 producing 1,170,000oz of silver from just 16,800 tonnes of ore, equating to a grade of around 2,195g/t Ag. Mining ceased in 2000 due to the silver price falling below US$5/oz, which compares to the current spot price of ~US$25/oz

·    The mine also produced Australia's largest silver nugget, the Karratha Queen, that weighed in at 145kg (4,677 ounces) which is now on display in the Perth Mint

This inaugural drilling programme is designed to test some of the historic drilling undertaken over 20 years ago for quality control (QA/QC) purposes, but also and as importantly, to test the Company's belief that the historical silver orebody forms part of a much larger and widespread mineralised system. Historically, the vast majority of holes were very poorly sampled and assayed with the majority only being assayed for silver. Numerous references of disseminated sulphides were made in the geological logging but never fully followed up along with several significant anomalies of copper, nickel and PGEs. Alien will carry out a full suite analysis on all relevant drill core to get a more detailed understanding of the potential of the Elizabeth Hill orebody and its envelope. 

The Company looks forward to updating the market as drilling progresses.

Bill Brodie Good, CEO & Technical Director of Alien Metals, commented:

"We have completed a considerable amount of research reviewing over 20 years of historical data on this project area, combined with the recent work by Southern Geoscience and our other technical consultants. We are very excited to be commencing our inaugural drilling programme, which we feel will add significant understanding to the known silver mineralisation, as well as targeting what we believe to be an even larger mineralised system that the silver orebody sits within.

"The West Pilbara is now recognised as a world class mineral province with the potential to discover a major new significant nickel, copper and PGE hosting system in and around Elizabeth Hill, similar to the recently discovered VC7 and Andover nickel-cobalt discoveries along with the known, but still to be fully defined, Carlow Castle, Radio Hill and Mt Sholl precious and base metals discoveries.

"The Company believes that a number of targets were never fully followed up on, hence this initial 7 hole programme will focus on the historic orebody and its immediate surroundings. The focus of the programme is the production of the highest quality core from the main zones within the orebody to enable us to better understand the orebody and develop next stage work."

Figure 1: Location of Elizabeth Hill Silver Project, Western Australia

Figure 2: Location of Maiden Drill Hole collars in relation to historic ore body outline, Elizabeth Hill, August 2021

Figure 3: Planned drilling with historic assays view from the west, Elizabeth Hill

The Appendix summarises some of the historic significant interceptions relative to this maiden drilling campaign.

- Ends -

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

Alien Metals Limited

Bill Brodie Good, CEO & Technical Director

(via St-James' Corporate Services, Company Secretary)

Tel: +44 20 7796 8644

Beaumont Cornish Limited (Nomad)

James Biddle / Roland Cornish

www.beaumontcornish.com

Tel: +44 (0) 207 628 3396

Turner Pope Investments (TPI) Limited (Broker)

Andrew Thacker / James Pope

Tel: +44 (0) 20 3657 0050

Yellow Jersey PR (Financial PR)

Sarah Hollins / Joe Burgess / Matthew McHale

[email protected]

Tel: +44 (0) 20 3004 9512

Notes to Editors

Alien Metals Ltd is a mining exploration and development company listed on AIM of the London Stock Exchange (LSE: UFO). The Company's focus is on precious and base metal commodities, with its operations located in proven mining jurisdictions and it has embarked upon an acquisition-led strategy headed by a high-quality geological team to build a strong portfolio of diversified assets.

In 2019, the company acquired 51% of the Brockman and Hancock Ranges high-grade (Direct Shipping Ore) iron ore projects and increased its holding to 90% in May 2021 while in 2020 acquired 100% of the Elizabeth Hill Silver Project, which consists of the Elizabeth Hill Historic Silver Mine Mining Lease and the surrounding Munni Munni North Exploration Tenement. The Australian projects are located in the world-renowned Pilbara region of Western Australia.

The Company also holds two silver projects, San Celso and Los Santos, located in Zacatecas State, Mexico's largest silver producing state, which produced over 190m oz of silver in 2018 alone, accounting for 45% of the total silver production of Mexico for that year. The Company holds a Copper Gold project in the same region, Donovan 2.

The company was also awarded an Exploration Licence in Greenland in late 2020, which surrounds the world class Citronen Zinc-Lead deposit.

In addition to progressing and developing its portfolio of assets and following its strategic review of its portfolio of silver and precious metals projects, Alien Metals has identified priority exploration targets within all of its projects which it is working to advance systematically. 

Appendix

Significant historic silver interceptions in drilling targeted for testing, Elizabeth Hill, August 2021

Ref:

Munni Joint Venture, East Coast Minerals NL and Legend Mining Ltd, Annual Report for the Period 1 April 2002 to 31 March 2003

Munni Project Report prepared for East Coast Minerals, 1995

EAST COAST MINERALS NL, LEGEND MINING NL, ANNUAL REPORT, MUNNI PROSPECT, M47/340-343 & E47/587, G. B. Barnes & Associates, 19 June 1996

Annual Report For the period 1 April 2000 to 31 March 2001, Submitted by East Coast Minerals NL 70% & Legend Mining NL 30% Joint venture partners for the Munni Mnunni Project also known as the Elizabeth Hill Silver Project