Alien Metals Limited (AIM: UFO) High-grade shallow silver intercepts up to 10,049 g/t Ag 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) (formerly Errawarra Resources Limited), has announced further outstanding assay results from the maiden diamond drill programme at the Elizabeth Hill Silver Project (“Elizabeth Hill” or the “Project”) 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.

Highlights:

·    Assays from drill hole 25WCDD011 have identified several significant high-grade silver zones including:

o  17m @ 858g/t Ag from 5m, including 2m @ 6,349g/t Ag from 7m;

o  10m @ 850g/t Ag from 47m, including 3m @ 2,593g/t Ag from 50m; and

o  13m @ 1,615g/t Ag from 62m, including 2m @ 10,049g/t Ag from 63m.

·    Native silver observed in drill core from 25WCDD011.

·    Significant high-grade gold intercept: 1m @ 11.1 g/t Au from 51m in 25WCDD011.

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

o  6m @ 317g/t Ag from 10m, including 1m @ 1,455g/t Ag from 13m; and

o  14m @ 162g/t Ag from 18m.

·    Results continue to confirm the presence of near-surface, high-grade silver mineralisation at Elizabeth Hill.

·    Assay results for a further six holes from the inaugural 12-hole (1,183m) diamond programme remain outstanding.

Robert Mosig, Technical Director, commented:

“These results further demonstrate the outstanding grades and near-surface potential at Elizabeth Hill. Intercepts of up to 10,049 grams per tonne silver and 11.1 grams per tonne gold are exceptional outcomes from the maiden programme and confirm the significant value in the project.

“With Alien’s 30%, which is interest-free, carried through to decision to mine, our shareholders retain strong exposure to any success at Elizabeth Hill. We look forward to further assay results expected in the coming weeks.”

Assay Results and Observations

Of the four drill holes reported (25WCDD003, 25WCDD004, 25WCDD011 and 25WCDD012), exceptionally shallow, high-grade silver results were returned for 25WCDD011 and 25WCDD012 (Figure 3 and Figure 4).

Both holes intersected significant silver mineralisation from near surface (Table 1), with particularly impressive results from hole 25WCDD011 which intersected:

·      17m @ 858 g/t Ag from 5m (including 2m @ 6,349 g/t Ag);

·      10m @ 850 g/t Ag from 47m (including 3m @ 2,593 g/t Ag); and

·      13m @ 1,615 g/t Ag from 62m (including 2m @ 10,049 g/t Ag).

Drill hole 25WCDD011, which was strategically drilled to test depth and mineralisation continuity, has also intersected significant high-grade gold mineralisation (Table 2), including 1 metre at 11.1g/t Au.

Along with significant silver and gold mineralisation, native silver has also been identified in 25WCDD011 (Figure 1 & Figure 2). This development has initiated investigations within West Coast Silver Limited into the viability of a simplistic gravity separation process to recover free silver from Elizabeth Hill style mineralisation. Elizabeth Hill is located adjacent to a number of existing processing facilities, including Radio Hill, which is located ~25km to the north. Utilisation of these facilities will be factored into the WCE’s assessment of the potential processing of Elizabeth Hill material.

Figure 1 – 25WCDD011: 49.68-53.28m – visible native silver and silver sulphide minerals (yellow circle) in coarse crystalline calcite-quartz vein. The vein is hosted in fine- to-medium grained pyroxenite. The silver minerals are between 1mm and 2mm in size and comprise about 1% of the 20cm calcite-quartz vein, commencing at 52m.

Cautionary Statement: In relation to disclosure of visual estimates of native silver and silver sulphide minerals, the Company cautions that visual methods of mineral identification and estimation of minerals abundance should not be considered as a proxy of substitute for laboratory analysis. The Ag concentrations as determined with the laboratory analysis are shown for the respective intervals on the core tray. Visual information also potentially provides no information regarding impurities or deleterious physical properties relevant to valuations.

Figure 2 – 25WCDD011: 52.01-52.2m (SAMPLE 25WC04-015) – Silver-grey native silver and silver sulphide minerals 1mm to 2mm in size comprise about 1% of the fine-grained quartz and coarse-grained calcite vein. Quartz comprises about 20% and calcite about 80% of the vein.

Drill hole 25WCDD012 has also intersected high-grade silver from near surface including:

·      6m @ 317 g/t Ag from 10m (including 1m @ 1,455 g/t Ag); and

·      14m @ 162 g/t Ag from 18m (including 2m @ 882 g/t Ag).

Table 2 – Significant Gold Intercept Table (0.1g/t Au cut-off)

Figure 3 – Plan view of 2025 West Coast Silver Diamond core drilling and historical drilling

Figure 4 – Long section showing drill holes 25WCDD004, 25WCDD011 & 25WCDD012 and previously reported 25WCDD001 & 25WCDD002 (refer to ASX announcement dated 16th July 2025).

Laboratory Testing

Results have now been received for six diamond drill holes (25CWDD001, 002, 003, 004, 011 & 012) with no significant drill intercepts received for holes 25CWDD003 and 25WCDD004 (Figure 4). The collar locations and assay results for the four holes reported in this release are provided in Appendices A and B, respectively. The remaining results for the six outstanding drill holes are expected to be returned within 4-6 weeks. Result timeframes may vary pending laboratory analysis requirements for further testing.

Upcoming Works at Elizabeth Hill

Figure 5 – Key upcoming works and catalysts, as provided by West Coast Silver 

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 6 – Tenement Location

Competent Person’s Statement

The information in this announcement that relates to Drilling Results is based on information compiled by Mr Robert Mosig a Competent Person who is a Fellow of the Australasian Institute of Mining and Metallurgy. Mr Mosig is a Director of West Coast Silver Limited and a Director of Alien Metals Limited.

Mr Mosig 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 ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’, and a Specialist under the 2015 Edition of the ‘Australasian Code for Public Reporting of technical assessments and valuations of mineral assets’.

Mr Mosig consents to the inclusion in the report of the matters based on his information and in the form and context in which it appears.

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