Trading Symbols

AIM: UFO

FWB: I3A1

15 May 2025

Alien Metals Limited

("Alien" or the "Company")

Pinderi Hills recognised as having excellent mineral prospectivity by the Western Australian Government

Alien Metals Ltd (AIM: UFO), a minerals exploration and development company, is pleased to announce that it has been awarded a grant of up to A$25,000 by the Western Australian Government to co-fund an extensive ground gravity survey over the most geologically prospective areas at its Pinderi Hills Project, located 50km south of Karratha in Western Australia. The award of the grant is considered a significant endorsement for the mineral prospectivity of the project. 

Highlights:

·    Pinderi Hills contains the +2Moz PGM Munni Munni Platinum Group Metals (PGM) deposit and historic Elizabeth Hill silver mine, which is now being explored as part of a joint venture with Errawarra Resources Ltd (ASX: ERW), as previously announced to the market on 24 March 2025 and 22 April 2025.

·    The grant, up to A$25,000, is available to co-fund a geophysical ground gravity survey at Pinderi Hills.

·    The Company's application for co-funding was competitively judged against other project applications across Western Australia by an expert geoscientific panel.

·    Successful applications are judged based on innovation, scientific merit and relevance to the economic development of Western Australia.

·    The Pinderi Hills Project is highly prospective for intrusive copper and nickel sulphide deposits at the base of the very large Munni Munni layered igneous complex, in addition to PGMs and silver.

Christopher Maiolo, General Manager Project Development, commented:

"Whilst our immediate focus remains on developing the Hancock iron ore project, we are delighted to have received technical endorsement and financial support from the Western Australian Government in relation to our Pinderi Hills project.

"The EIS grant recognises both the excellent geological prospectivity of Pinderi Hills and indeed the quality of the geological work completed by our in-house exploration team and specialist consultants.

"The results of this gravity survey will allow for improved subsurface geological and exploration models to expedite the project. We look forward to updating our shareholders as new data is collected and updated exploration models are advanced."

About Pinderi Hills¹

The Pinderi Hills Project is an area of exploration and mining licenses covering ~180km² of highly prospective terrain in the West Pilbara region of Western Australia. The ground is highly prospective for PGMs in layered reefs of the Munni Munni intrusion, which has similarities to South Africa's Bushveld PGM province, Ag in a fault-controlled system at Elizabeth Hill, and Cu-Ni sulphide deposits that commonly form at the base of mafic/ultramafic complexes in magmatic feeder conduits. The West Pilbara region has seen several significant discoveries in recent times with the giant lithium discovery at the Andover intrusion, which also hosts intrusion related Ni-Cu deposits, partly owned by the Chilean company Sociedad Química y Minera de Chile SA (NYSE: SQM), and the De Grey Mining Ltd +10Moz Hemi Gold Project, being recent standout mineral discoveries in the region.

·    The Munni Munni PGM Project

o  One of Australia's largest undeveloped PGM+Au+Ni+Cu+Co resources

o  Historic JORC 2004 compliant resource of 24Mt @ 2.9g/t 3PGM+Au for 1.14Moz Pd, 0.83Moz Pt, 76koz Rh, and 152koz Au at the Hunter Reef in the centre of the intrusion

o  Contains credits for Ni, Cu and Co

o  Open along strike and at depth with known higher-grade zones

o  Underexplored Judy-reef PGM mineralised horizon which follows the base of the intrusion

o  Underexplored bottom part of the intrusion which has excellent potential for hosting a massive sulphide Ni-Cu deposit in a magma conduit, similar to the Voisey's Bay style of mineralization.

·    The Elizabeth Hill Silver Project

o  Joint Venture of the Elizabeth Hill silver mine and silver rights over Pinderi Hills was announced on 24 March 2025² with Errawarra Resources Ltd (ASX: ERW)

o  Historically one of Australia's highest grade silver mines in Australia

o  Approximately 1.2Moz of silver @ 70oz/t (2,194g/t) Ag was produced in a single year of production

o  Recent company drilling reported:

§ 11.7 m @ 5,371 g/t Ag from 13m (21EHDD003)

§ 24 m @ 1,228 g/t Ag from 64m (AMEHRC009)

§ 43 m @ 370 g/t Ag from 0m (22AMC001) and

§ 24.8m @ 915 g/t Ag from 2m (21EHDD001)

·    Lithium Exploration^{1, 3}

o  Joint venture with Errawarra Resources Ltd (ASX: ERW) commenced mid-2024

o  The works completed by Errawarra have:

§ identified a large lithium anomalous footprint of 6km²

§ Highlighted lithium trends with up to 3km strike of anomalous soil and stream samples

§ Rock chip samples reported 288ppm Li₂O with associated anomalous Cs, Ta and Nb

o  Confirmed the Pinderi Hills Project has lithium pegmatite potential⁵

The EIS Programme

The Co-funded Geophysics Program (Venture 2) is a competitive program which offers co-funding to innovative mineral geophysical projects in Western Australia. It is part of the Western Australian State Government-funded Exploration Incentive Scheme ("EIS"). The EIS recognises and contributes funds to innovative exploration programs that have geological and technical merit to advance exploration projects in the short term and to add to the geoscientific knowledge of the state of Western Australia to provide long term benefits focused based on the success of exploration and mining.

For further information on the EIS, please refer to https://www.wa.gov.au/organisation/geological-survey-of-western-australia/co-funded-geophysics-program-cgp#venture-2-timeline.

The works proposed by the Company, in conjunction with its geophysical partner Resource Potentials Pty Ltd, are to collect ground gravity data on a regularised grid pattern in areas of high geological potential.

The results of this ground gravity survey will be used to detect subsurface density variations in the underlying rock units, which will be imaged, modelled and interpreted to:

·    identify gravity anomalies caused by denser rocks from mafic/ultramafic to granite bodes to build a 3D model of the subsurface and target density anomalies

·    map geological structures, such as the regionally and prospective Munni Munni Fault, folds, granite/ultramafic contact areas and intrusive units, thus aiding in geological modelling and exploration targeting

·     delineation of hydrothermal alteration zones that may be associated with mineral deposits

·    provide data to assist with the prioritisation of drilling locations by highlighting zones of gravity anomalism, thus reducing risk and exploration costs

·    integrate with other exploration data sets, such as airborne magnetics, seismic surveys (such as that completed at Munni Munni by previous explorers), electromagnetic surveys, soil survey assay information and geological mapping, to refine subsurface geological and mineralisation models to improve the Company's exploration success rate.

1            Alien's Joint Venture Partner Identifies 6km² Li₂O Soil Footprint at Pinderi Hills, 27 August 2024

2            Alien Metals conditionally secures Joint Venture partner for West Australian Silver Project, 24 March 2025

3            Alien Executes up to A$4 million Farm-Out Joint Venture for Lithium Rights on Pinderi Hills Project, including A$0.5                          million Subscription, 29 April 2024

Competent Person's Statements

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. Mr Toms has declared that he holds Performance Rights in the Company.

The information in this announcement that relates to Geological and Geophysical Results, is based on information compiled by Dr Jayson Meyers who is a full-time employee of Resource Potentials Pty Ltd who provide consultancy services to the Company. Dr Meyers is a Fellow 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". Dr Meyers consents to the inclusion in the document of the information in the form and context in which it appears.

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 it 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 offers 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 one of Australia's largest PGM deposits, Munni Munni which hosts a deposit containing a historic resource of 2.2Moz PGM (Palladium, Pla5num, Gold, and Rhodium). The Company has recently entered into a joint venture with Errawarra Resources Limited for the development of 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.