Exceptional Silver Assays Returned from Initial Drill Holes at Elizabeth Hill Silver Project

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) (“West Coast Silver”), has announced that its inaugural diamond drill program (12 holes for 1,183m) at the high-grade Elizabeth Hill Silver Project (“Elizabeth Hill” or the “Project”) in the Pilbara region of Western Australia has been completed. It has delivered exceptional results, with shallow, high-grade silver assays returned from the first two drill holes. The Project, in which Alien retains a 30% free-carried interest through to a decision to mine, is operated by West Coast Silver.

Highlights:

·    Assays from drill hole 25WCDD001, the first drill hole completed from the 2025 program has returned a significant high-grade silver (Ag) zone:

o  21 metres at 1,047g/t Ag from 10 metres including:

§ 8 metres at 2,632 g/t Ag from 22 metres including:

·    1 metre at 15,071 g/t Ag from 27 metres.

·    Impressive near surface results from drill hole 25WCDD002 include:

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

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

·    Gold (Au) reported in laboratory assays with peak assay from drill hole 25WCDD002 returning:

o  1 metre at 2.03g/t Au from 4 metres.

·    To date, only assay results for holes 25WCDD001 & 25WCDD002, have been received from the laboratory. However, the new intersections of near-surface high grade silver provide impetus for further evaluation and quantification of potential economic shallow silver mineralisation.

·    Review of historical drilling data provides additional indication of economic near surface mineralisation.

·    The additional eight drill holes have been dispatched to the laboratory for assay with results expected progressively over a 6-8 week period.

·    Whilst the drilling component of the programme has been completed, logging of holes 11 & 12 continues, and samples will be dispatched to the laboratory once ready.

Robert Mosig, Technical Director, commented: “These initial outstanding results reinforce the potential at Elizabeth Hill to host some of Australia’s highest-grade silver mineralisation. To see mineralisation of this tenor from surface and from the first two holes of the campaign is an exceptional outcome and confirms our strategy of leveraging a technically strong partner to advance the project. With 30% free-carried interest and a material equity stake in West Coast Silver, Alien shareholders are well-positioned to benefit from any future development success.”

The inaugural diamond drill program at Elizabeth Hill which comprised of 12 drill holes for 1,183m has been completed and has delivered exceptional results, with shallow, high-grade silver assays returned from the first two drill holes, 25WCDD001 and 25WCDD002 (Figure 1, Figure 2 and Figure 3).

Both holes intersected mineralisation from near surface, with particularly impressive results from hole 25WCDD001 which intersected:

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

o  8 metres at 2,632 g/t from 22 metres including,

§ 1 metre at 15,071 g/t from 27 metres.

Hole 25WCDD002 intersected

·    15 metres at 729g/t from 1 metre including:

o  3 metres at 2,639g/t from 1 metre.

Drill hole 25WCDD001 was designed to twin historic Alien Metals RC drill hole 22AMC001 which intersected:

•           21 metres at 730g/t Ag from 12 metres.

West Coast Silver diamond drill hole 25WCDD001 and historical RC drill hole 22AMC001 intersected comparable mineralisation, both in width and grade. Slight variations in the grade between the two drill holes may reflect a nuggety nature of silver mineralisation. The drill holes intersected weathered granite to the end of hole proximal to the ultramafic rock/granite contact.

Table 1 – Significant Intercept Table of the first two drill holes of West Coast Silver drilling

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

Figure 2 – Cross section showing drill hole 25WCDD001 (West Coast Silver) with historical drill results

Figure 3 – Cross section showing drill hole 25WCDD002 (West  Coast Silver) and with historical drill results

Near surface mineralisation historical assessment

The 2025 West Coast Silver diamond drilling (12 holes) was partly designed to target oxidised, shallow (<50m vertical depth) silver mineralisation north of the underground workings (Figure 1 to Figure 7), as reported in historical Western Australian Mineral Exploration (WAMEX) reports and compiled in an Alien Metals data base. Appendices C and D provide drill hole collar details and significant silver intercepts for all historical surface drill holes. Best results in the historical surface drilling (Figure 1) are listed in Table 2.

These high-grade intersections are located along the interpreted Munni Munni Fault at the contact of the ultramafic/mafic rocks to the east and the granites to the west. This mineralisation extends approximately 40m to the north of the projected underground workings. Drill hole EC092 (Figure 1), proximal to the interpreted Munni Munni Fault in the northernmost drill line intersected 1m at 204g/t Ag from 1 metre, indicating the shallow, oxide silver mineralisation is still not closed off to the north.

The shallow high-grade nature of these silver results gives West Coast Silver confidence in the near surface potential of Elizabeth Hill. As a matter of priority, West Coast Silver engaged ERM Consultants to carry out a comprehensive analysis of all historical drilling at Elizabeth Hill with a view to developing workflows that may result in quantifying the near surface silver mineralisation at Elizabeth Hill in line with JORC 2012.

Significant silver assays identified from historical drilling include the following:

Table 2 – Significant Intercepts in historical drilling (see Figure 1)

Anomalous Gold, Lead, Zinc and Copper assay values returned from the drilling programme will also be further assessed. Refer to Appendix B – Assay Results for all other element intercepts.

Figure 4 – Section 7667960N with historical drill results

Figure 5 – Section 7667950N with historical drill results

Figure 6 – Section 9667930N with historical drill results

Figure 7 – Section 7667920N with historical drill results

Laboratory Testing

Core from the next eight holes has been cut, and half-core samples have been sent for assay, which are expected to be returned within 6-8 weeks.

Result timeframes may vary pending laboratory analysis requirements for further testing.

Inaugural Diamond Drilling Update

12 diamond drill holes have been completed at Elizabeth Hill for 1,183m. Drilling has now been completed at site and the drill rig has been demobilised.

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 8 – 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 which is considered prospective for Elizabeth Hill look-a-like silver deposits.

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