Alien Metals Limited (UFO.L) Preparations begin for Phase 3 drilling at Hancock Iron Ore Project

Alien Metals Ltd (LSE AIM:UFO), a global minerals exploration and development company, is pleased to update the market on the Hancock Iron Ore Project in the Pilbara region of Western Australia.

Follow the link to view the announcement in full including all figures: http://www.rns-pdf.londonstockexchange.com/rns/5225J_1-2021-8-23.pdf

Alien Metals Ltd (LSE AIM:UFO), a global minerals exploration and development company, is pleased to update the market on the Hancock Iron Ore Project in the Pilbara region of Western Australia.

Highlights

· With the final laboratory assay results from the second phase of drilling now received, preparations have begun to optimise the Phase 3 drilling programme, which is anticipated to be completed during Q4

· The Phase 3 programme is designed to target the delineation of a maiden resource estimate at the Western Ridges Prospect

· The Phase 2 programme has clearly defined significant widths of direct shipping ore (DSO) from surface at the Sirius Extension Prospect and the Western Ridges Prospect

· All intersections from the Sirius Extension Project clearly point to a contiguous DSO grade deposit, as reported in the recent announcement of 11 August 2021:

Hancock Iron Ore Project firming up as standalone DSO operation

· Further intersections from Sirius Extension include:

o 90m @ 59.60 % Fe in hole AM21RC002 008 from 10m

o 119m @ 58.87 % Fe in hole AM21RC002 010 from 1m

o 43m @ 57.41 % Fe in hole AM21RC002 011 from 1m

· These results will be included in the maiden resource estimation work and mining studies that recently commenced. Management expects initial results from these programmes in September

· Significant intersections from the Western Ridges Prospect include:

o 10m @ 58.37 % Fe in hole AM21RC002 022 from 8m

o 10m @ 60.20 % Fe in hole AM21RC002 025 from 10m

o 11m @ 59.46 % Fe in hole AM21RC002 032 from 7m

o 10m @ 60.32 % Fe in hole AM21RC002 035 from 13m

o 12m @ 62.54 % Fe in hole AM21RC002 036 from 2m and

o 14m @ 62.80 % Fe in hole AM21RC001 030 from 1m

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

“At each new step the Hancock tenement is shaping up to be a significant development opportunity for Alien. We have now defined a robust DSO grade iron ore orebody at the Sirius Extension Prospect, and are pushing ahead with detailed development and study work to bring this project online as soon as is practical. We also believe that the Western Ridges Prospect provides a significant opportunity to open a second front on the potential development schedule within this outstanding tenement.”

John Battista, Principal Mining Consultant, Mining Plus, commented:

“Based on our conceptual study-level work to date, the Hancock project has the potential to be developed into a niche direct-shipping iron ore producer in the heart of the world-famous Pilbara region of Western Australia.”

Figure 1: Location of Hancock Iron Ore Project, Western Australia

The second phase of drilling was designed to in-fill the maiden drilling at the Sirius Extension Project and further test the initial extent and true location of the DSO grade iron ore in the Western Ridges Prospect. We are now confident that the current drill spacing is sufficient to enable the delineation of a maiden JORC resource to be calculated for the Sirius Extension Prospect. These excellent results confirm our initial pXRF readings and the Company is excited to push ahead with a third drilling program to in-fill existing DSO grade intersections, mainly on ridge C and E, to potentially enable a second DSO grade resource to be calculated.

Figure 2: Significant drilling results to date, Sirius Extension, Hancock Tenement, August 2021

Figure 3: Section AM21L02, Sirius Extension, August 2021

Figure 4: Section AM21L03, Sirius Extension, August 2021

Figure 5: DSO grade intersections, Ridge C, Western Ridges Prospect, Hancock Tenement, August 2021

Figure 6: DSO grade intersections, Ridge E, Western Ridges Prospect, Hancock Tenement, August 2021

The Western Ridges Prospect is shaping up to be a second standalone mineable resource, as further work by Alien continues to delineate several DSO grade iron ore beds enriched from surface that strike for several kilometers. These beds having the DSO grade at surface means there is little or no waste material present as well as representing a relatively simple orebody to mine. With the improved understanding of the enrichment horizon, Alien plans to target the specific horizons in the next drilling programme, ahead of a maiden mineral resource across the Western ridges.

As noted above these same mineralised iron ore beds beds strike for tens of kilometers across the tenement but have not been tested at all to date hence the Company feels there is great potential for further DSO grade material in this larger area (see Figure 7).

Alien used the industry standard of inserting 5% Certified Reference Material (CRM) samples and 5% duplicate samples at source. The CRMs are sourced from Geostats Pty Ltd, Perth, WA, a global leader in the manufacture and sale of CRMs. All samples generated were dispatched to Intertek Genalysis at Maddington, Perth, WA, and analysed for their Standard Iron Ore Package Analysis with XRF finish, which includes elements Fe, Al, Ca, K, Mg, Mn, Na, P, S and Si. This is the same as the analysis and laboratory used in all Alien’s analysis work on these projects to date, to maintain consistency and comparability between all analyses.

All QA/QC results are acceptable to the company with adequate variation from the standard acceptable CRM grades received. Duplicate samples also returned acceptable results for the Company to accept that all laboratory analysis results are within international standards and are fit for use in any MRE work.

Figure 7: Target areas for further ground reconnaissance, Hancock Tenement, Hamersley Iron Ore Project, August 2021

Alien Metals Limited

Bill Brodie Good, CEO & Technical Director

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

Tel: +44 20 7796 8644

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.

Qualified Person

The information in this report which relates to Exploration Targets, Exploration Results and Mineral Resources or Ore Reserves is based on information compiled by Mr. Allen Maynard, who is a Member of the Australian Institute of Geosciences (“AIG”), a Corporate Member of the Australasian Institute of Mining & Metallurgy (“AusIMM”) and independent consultant to the Company. Mr. Maynard is the Director and principal geologist of Al Maynard & Associates Pty Ltd and has over 40 continuous years of exploration and mining experience in a variety of mineral deposit styles. Mr. Maynard has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for reporting of Exploration Results, Exploration Targets, Mineral Resources and Ore Reserves” (JORC Code). Mr. Maynard consents to inclusion in the report of the matters based on this information in the form and context in which it appears.


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