Alien Metals JV Awards Phase 2 Drilling Contract at Elizabeth Hill Silver Project

Additional High-Grade Silver Intercepts & Phase 2 Drilling Contract Awarded at Elizabeth Hill

Alien Metals Limited (AIM: UFO), a minerals exploration and development company, is pleased to report that its joint venture partner, West Coast Silver Limited (ASX: WCE) (“West Coast Silver”) has awarded the Phase 2 drill contract at the Elizabeth Hill Silver Project (“Elizabeth Hill” or the “Project”)  to Wallis Drilling Pty Ltd (“Wallis Drilling”) and reported further high-grade silver intercepts from its inaugural diamond programme at Elizabeth Hill in the Pilbara region of Western Australia. The Project, in which Alien retains a 30% free-carried interest through to a decision to mine, is operated by WCE.

Alien Metals: Silver Breakthrough at Elizabeth Hill Powers a Dramatic Share Price Re-Rating

Highlights:

·    Phase 2 drilling contract awarded to Wallis Drilling (approximately 1,000m diamond, 2,000-3,000m air core)

·    Drilling will consist of a combination of diamond and air core drilling, with multiple objectives targeted

·    Programme to test near-surface mineralisation, potential depth extensions and step-out targets

·    WCE’s integrated geological team, including ERM Consultants, is currently finalising defined drill targets which will further refine the drill programme

·    Imminent TEM and magnetic surveys to feed into the targeting process

·    Drilling will commence in approximately 4-6 weeks

·    Assays from drill hole 25WCDD008 have identified further high-grade silver mineralisation zones including:

o  6 metres at 316g/t Ag from 44 metres; including

§ 1.4 metres at 1,007g/t Ag from 45 metres

o  21 metres at 50g/t Ag from 20 metres

·    25WCDD010 has also intersected high-grade silver mineralisation including:

o  3.4 metres at 219g/t Ag from 63 metres

·    Low grade silver mineralisation has also been intercepted in 25WCDD005 at both 165m and 171m on structures associated with the Munni Munni Fault 

·    These intervals demonstrate mineralisation is hosted in subsidiary structures related to the main Elizabeth Hill mineralisation event. These intercepts are well below the historical workings, which was suspended at the 102m level in 2000 due to declining silver prices 

Belinda Murray, Executive Director, commented:

“We are very encouraged by these latest high grade silver intercepts from Elizabeth Hill which supports the potential to grow the mineralised footprint around the historical mine. The decision to award the Phase 2 drill programme is welcome as it will focus on additional near-surface targets and step-outs, alongside the existing high grade silver intercepts. With WCE funding and operating the work programme, Alien maintains strong exposure to silver upside while preserving our balance sheet.”

West Coast Silver has received further high-grade silver intercepts from the inaugural diamond drill programme (12 holes for 1,183m) at the high-grade Elizabeth Hill. The Company has received the remainder of assay results for six drill holes (25WCDD005, 25WCDD006, 25WCDD007, 25WCDD008, 25WCDD009 and 25WCDD010) for the inaugural drilling programme. From the six drill holes, further high-grade silver results were returned for 25WCDD008 and 25WCDD010 (Figure 1 and Figure 2).

Both holes intersected silver mineralisation from near surface (Table 2), with particularly impressive results from hole 25WCDD008 including:

·    6 metres at 316g/t Ag from 44 metres

o  with 1.4 metres at 1,007g/t Ag from 45 metres

·    21 metres at 50g/t Ag from 20 metres

Hole 25WWCDD010 intersected:

·    3.4 metres at 219g/t Ag from 63 metres

These assay results build on the previously announced (West Coast Silver ASX announcements dated 16 July 2025 and 22 August 2025) near surface results, including 25WCDD001, which intersected:

·    21 metres at 1,047g/t from 10 metres including

o  8 metres at 2,632g/t Ag from 22 metres, including a spectacular interval of 1 metre at 15,071g/t Ag from 27 metres.

Drill hole 25WCDD002 intersected:

·    15 metres at 723g/t Ag from 1 metre including:

o  3 metres at 2,639g/t Ag from 1 metre.

Drill hole 25WCDD011 which intersected:

·    17 metres at 858g/t Ag from 5 metres including:

o  2 metres at 6,349g/t Ag from 7 metres;

·    10 metres at 850g/t Ag from 47 metres and

·    13 metres at 1,615g/t Ag from 62 metres

o  including 2 metres at 10,049g/t Ag from 63 metres.

Drill hole 25WCDD012 also returned significant high-grade silver intercepts including:

·    6 metres at 317g/t Ag from 10 metres including:

o  1m at 1,455g/t Ag from 13 metres; and,

·    14 metres at 162g/t Ag from 18 metres.

Drill hole 25WCDD007 was completed as a scissor test to validate the near surface oxide mineralisation intersected in historical drill hole, EC085, that contained 18 metres at 581g/t Ag from 12 metres (West Coast Silver ASX announcement dated 16 July 2025). While recent drill hole 25WCDD007 intersected 12metres at 42g/t Ag from 15 metres and 1 metre at 121g/t Ag from 30 metres (Table 1), it confirmed the thickness but highlighted the nuggety grade distribution of the silver mineralisation in the oxide zone.

Drill hole 25WCDD009 was designed to test the down plunge extent of the near surface, oxide mineralisation between 25-30m vertically above the historical workings and intersected 4 metres at 66g/t Ag from 45 metres in the interpreted position of the Munni Munni Fault.

Drill holes 25WCDD005 and 25WCDD006 intersected minor silver intervals above a 25g/t Ag cut-off (Table 1) despite still intersecting structures containing quartz-carbonate breccias and veins below the historical Elizabeth Hill mine workings. This provides further support to the Company’s interpretation that silver mineralisation plunges to the south within the Munni Munni Fault.

Table 1 – Significant Silver Intercept Table from recent drilling

Note: 25g/t Ag cut-off; NSI = No significant intersection

Figure 1 – Plan view of 2025 West Coast Silver diamond core drilling and historical drilling

Figure 2 – Elizabeth Hill long section with recent drill holes 25WCDD005 – 25WCDD010

Notes: Long Section line A’ looking ESE; refer to Figure 1 for location

Near surface mineralisation assessment

The shallow high-grade nature of these drill results gives the Company confidence in the near surface potential of Elizabeth Hill. The Company continues to work with ERM to carry out a comprehensive analysis of all historical drilling at Elizabeth Hill with a view to assess the extent of near surface mineralisation at Elizabeth Hill. This process will include any QA/QC checks required to ensure all historical data is of sufficient quality to be reported from a JORC 2012 perspective.

Inaugural Drilling Update

Twelve diamond holes have been completed at Elizabeth Hill totalling 1,183 metres of drilling. Laboratory assay results have been received for the 12 diamond holes with the final six holes reported in this release.

Elizabeth Hill Silver Project Overview

Elizabeth Hill, one of Australia’s highest-grade silver projects, has a proven production history outlined below:

·    High grades enable low processing tonnes: 1.2Moz of silver was produced from just 16,830t of ore at a head grade of 2,194g/t (70.5 oz/t Ag)^[1]

·    Previous mining operation ceased abruptly in 2000 because of low silver prices (US$5/oz)^[2] and a dispute between previous joint venture parties

·    Simplistic historical processing technique: native silver was recovered via low-cost gravity separation due to high grades and large silver nugget sizing

·    Significant untapped potential remains in and around the historic mine site, with limited, outdated drilling and geophysics deployed

·    

Tier-1 mining jurisdiction – located on a mining lease with processing facilities adjacent at the nearby Radio Hill

Figure 3 – Tenement Location

Through the consolidation of the surrounding land packages into a single contiguous 180km² package, significant exploration and growth potential exists both near mine and regionally. The land package holds a significant portion of the Munni Munni fault system, and other fault systems subparallel to the Munni Munni fault system, which are considered prospective for Elizabeth Hill look-a-like silver deposits.

Competent Person’s Statement

The information in this announcement that relates to Exploration Results is based on information reviewed by Mr Max Nind who is a Member of the Australian Institute of Geoscientists. Mr Nind is a consultant to Alien and a full time employee of ERM Australia Consultants Pty Ltd.

Mr Nind has sufficient experience that is relevant to the style of mineralisation and type of deposits under consideration, and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’, and a Specialist under the VALMIN Code 2015 Edition of the ‘Australasian Code for Public Reporting of Technical Assessments and Valuations of Mineral Assets’. Mr Nind consents to the inclusion in the announcement of the matters based on this information and in the form and context in which it appears.

For further information, please visit the Company’s website at www.alienmetals.uk