UFO Alien Metals Limited

("Alien" or "the Company")

Pinderi Hills Update - Commencement of Exploration Work
Hancock Iron Ore Project - Update

Alien Metals (AIM: UFO) ("Alien" or "Company"), a company focused on the exploration and development of the Hancock iron ore Project ("Hancock Project") and the Pinderi Hills project ("Pinderi Hills" or "Project") in Western Australia, is pleased to provide an update covering the activities and exploration works currently being undertaken at the Project.

Highlights

Following the Company's announcement (AIM: 29 April 2024) detailing the joint venture ("JV") entered into by Alien, via its wholly owned subsidiary Alien Metals Australia Pty Ltd, with Errawarra Resources Ltd ("Errawarra") in respect of the lithium rights on Pinderi Hills, Errawarra is undertaking an initial work program as part of its Stage 1 commitment. Whilst the focus of the exploration work is on lithium, utilising the expertise of Errawarra, the data gathered from the fieldwork is also expected to provide important information that will assist in the analysis and drill targeting for silver, base, and precious metals at Pinderi Hills.

The work program to date has focused on first-pass reconnaissance, mapping and sampling and comprises the following:

·    Reconnaissance soil (100m x 400m grid), stream sediment, and rock chip sampling comprising 1,017 samples completed

·    Photogrammetry completed over the NE portion of E47/4422

·    A historical drone survey is being reprocessed to assist in the targeting of pegmatites

·    Completing surface mapping and sampling of pegmatites

All samples have been dispatched to Australian Laboratory Services Perth ("ALS") for analysis with the full assay results anticipated to be available by the end of July 2024. After all sample results are received and interpreted, a follow-up program will be planned and is expected to be implemented during Q4 2024. 

Hancock Iron Ore Update

As previously announced (AIM: 30 May 2024), the Company is actively progressing with the ongoing review of strategic funding options with regard to the Hancock Project, including possible funding by way of joint venture and or debt funding.

In addition, Alien is focusing on:

·    Finalising approvals for the Hancock and Mallina projects to commence exploration work with a strategy to increase existing resources and reserves to 20 - 50 Mt. The current resource stands at 8.4Mt @ 60.20% Fe.

·    Continuing to build a positive, ongoing partnership with the traditional owners, Karlka Nyiyaparli Aboriginal Corporation RNTBC, as the mining development work progresses.

·    Planning further works on country heritage surveys in H2 2024.

·    Discussions with various parties and field analysis to start exploration work.

·    Undertaking bulk sample collection for testing to end users e.g. steel mills.

Engineering and transport logistic disciplines remain well advanced and scoped for mining, crushing, road haulage, and port loading, with the intent to further develop them and move towards a tender process.

Guy Robertson, Executive Director, commented:

"The Errawarra joint venture exploration work will provide significant data for Alien as it continues to fast-track plans to develop the high-grade Elizabeth Hills Silver Mine. As the results are processed, we will be able to update the market with our plans for the next phase of exploration.

"As negotiations continue with potential funding partners with regards to the Hancock Project, Alien is working hard on progressing developmental milestones and expanding the existing iron ore resource significantly in Q4 2024 with additional exploration at the Mallina Target west of the Hancock Mining Lease."

For further information, please visit the Company's website at www.alienmetals.uk or contact:

Alien Metals Limited

Guy Roberston

Strand Hanson (Financial and Nominated Adviser)

James Harris / James Dance / Robert Collins

Tel: +44 (0) 207 409 3494

WH Ireland Ltd (Joint Broker)

Harry Ansell / Katy Mitchell

Tel: +44 (0) 207 220 1666

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 its 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 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. The Company also owns one of Australia's largest PGM deposits, Munni Munni which hosts a deposit containing a historic resource of 2.2Moz PGM (Palladium, Platinum, Gold, and Rhodium).

Competent Person's Statement

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.