30 October 2024

Alien Metals Ltd

("Alien" or "the Company")

 Alien commences Silver and Precious Metals Exploration at Pinderi Hills, Australia

Alien Metals Ltd (AIM: UFO), a minerals exploration and development company, is pleased to provide an update covering recent activities and planned exploration works for the next six months at its Pinderi Hills silver and precious metals project ("Project" or "Pinderi Hills") in Western Australia.

Highlights

·  Initial works will involve ground geophysics, downhole geophysics, soil sampling and detailed geological interpretation over two key high-grade areas of the Munni Munni +2Moz PGM resource.

·     These works have commenced with results to follow within two months.

·   As part of the geological review, the Company has located 100 additional drill holes, both drill core and reverse circulation, for around 10,000m of extra drilling that was not previously known.

·    These drill holes now form part of the main database and will be reviewed for any additional occurrences of silver and precious metals anomalism.

·    Dr Jayson Myers, who has been involved in several major discoveries in Western Australia, is continuing to assist the technical and exploration team.

·    With the increase in the silver price, the Company has received substantial corporate interest in the Elizabeth Hill Silver Mine, which at the time of its operation was Australia's highest-grade silver mine.

Robert Mosig, Technical Director, commented: 

"The Company's geologists and consultants have researched and prepared concrete plans for the continued exploration and development of Pinderi Hills. With lithium exploration at Pinderi Hills now under the guidance and expertise of a joint venture with partner Errawarra Resources Pty Limited, Alien can focus on the advancement and development of the PGM and Silver resources in this strategic tenure."

Pinderi Hills

The West Pilbara region of Western Australia hosts significant and world-class mineral resources. Recent discoveries have included the giant lithium discovery at Andover, part-owned by the Chilean company SQM (Sociedad Química y Minera de Chile SA) (NYSE: SQM) ("SQM") and the De Grey Mining Ltd +10Moz Hemi Gold Project.

Within this mineral-rich area, Alien has 180km² of tenure that has the potential to host additional significant precious metal mineralisation.

Figure 1: West Pilbara high potential areas for Ni-Cu-PGM sulphide deposits with the focus on Munni Munni Complex (Geoscience Australia, 2016)

Previous announcements by the Company during 2024³, have reported on work completed to allow a baseline study of geological information to establish a solid foundation of evidence-based geology and precious metal anomalism on which to advance the Project.

This work is now complete, and the Company is advancing towards its goal of identifying a significant new precious metals discovery at Pinderi Hills. As part of the geological review, the Company has located some 100 drill holes, both drill core and reverse circulation, for around 10,000m of extra drilling that was not previously known. The discovery of this drilling, geological and assay information was located by the company's geologists during an intensive review and validation of all old drilling reports that had been submitted to the Department of Energy, Mines, Industry Regulation and Safety.

As part of the Company's efforts to focus on precious metals, the lithium rights were placed into a joint venture with Errawarra Resources Pty Ltd and this has already had success as seen in the announcement.

Alien's Joint Venture Partner Identifies 6km² Li₂O Soil Footprint at Pinderi Hills, 27 August 2024³ 

Upcoming works

The Company, working with retained consultants including Dr Jason Myers, has determined that there are five main areas within the Pinderi Hills Project to focus on over the coming months:

A.    Cadgerina Dyke

B.    Judy's Reef

C.    Munni Munni Fault system

D.    PGM high grade 1 and PGM high grade 2, within the known extensive mineral resource area at Munni Munni

E.    Elizabeth Hill Silver Mine and potential extensions

A - The Cadgerina Dyke is an area of known precious metal anomalism from existing soil sampling. It is interpreted as a feeder conduit for the main Munni Munni layered ultramafic complex. These types of conduits can host significant sulphide-hosted metal deposits.

The Company sees the Cadgerina Dyke as a significant exploration opportunity due to its proximity to the main Munni Munni PGM resource and due to the lack of drilling as previous explorers were focused predominantly on the existing PGM resource.

The Cadgerina Dyke area, as seen in Figures 3 and 4, is under an area of alluvial cover, hence prospecting-style work has less chance of observing significant mineralisation.

B - Judy Reef is an area extending from the high-grade Elizabeth Hill silver mine down the eastern edge of the ultramafic/granite contact. The PGM and copper anomalism in this reef is interpreted as being in the lower, more prospective, basal parts of the Munni Munni intrusion. There is silver anomalism along the Judy's Reef Zone which is being explored in conjunction with the other precious metals.

C - Munni Munni Fault system is the area along the Munni Munni fault pair as seen in Figure 2. The Munni Munni eastern fault has both the Elizabeth Hill and high-grade PGM resources along it. Combined, these faults represent a large, structurally controlled, mineralised corridor that has had little work completed over it previously as prior owners of the tenements had focused on the known mineralised areas and completed very little step-out exploration.

D - PGM high grade 1 and PGM high grade 2 zones are recognised by having multiple, above 5g/t PGM3, intersections in historic drilling. The overall grade of the Munni Munni PGM resource is 2.9g/t PGM3. Of note though are the two areas highlighted in Figure 2 that have multiple intercepts in core drilling above 5g/tPGM3. Both high-grade zones are associated with prominent north-northeast trending faults. More interpretive geological work will be completed in these areas to generate an exploration model and to target possible future drilling in these areas.

E - Elizabeth Hill Silver mineralisation is exceptional at the historic Elizabeth Hill silver mine. Elizabeth Hill was Australia's highest-grade silver mine and produced over 1Moz of silver when in production. Further work will be completed to target extension of the silver and in particular its association with the Munni Munni Fault, which has minimal exploration along its considerable strike length. There is also silver anomalism to follow up along the Judy Reef area.

These five zones of interest are all potentially associated with discoveries of new or higher-grade mineralisation within known mineralisation. The Company intends to maximise technology and obtain maximum benefit from all information collected to make informed, and geologically supported decisions for when drilling commences.

1/ 2004 JORC compliant

2/ Global Strategic Metals NL, Annual Technical Report 2014, non-JORC 2012 compliant

    1moz of the resource has been mined up until 2000-2001

3/ Pinderi Hills Lithium Joint Venture, 29 April 2024

   Independent review of Silver & Ni-PGM's at Pinderi Hills, Australia, 30 May 2024

   Pinderi Hills Update - Commencement of Exploration Work, 20 June 2024 (Lithium focused)

   Alien's Joint Venture Partner Identifies 6km² Li2O Soil Footprint at Pinderi Hills, 27 August 2024 (Lithium focused)

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 Ltd 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 its 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 offer 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).

Competent Person's Statement

The information in this announcement that relates to Exploration Results, is based on information compiled by Mr. Bradley Toms who is the Exploration Manager and a full-time employee of Alien Metals Ltd. Mr. Toms is a Member of The Australian Institute of Geoscientists and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity that he is undertaking, to qualify as Competent Person as defined in the 2012 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr. Toms consents to the inclusion in the document of the information in the form and context in which it appears.