UFO Alien Metals Limited

27 August 2024

Alien Metals Ltd

("Alien" or "the Company")

Alien's Joint Venture Partner Identifies 6km² Li₂O Soil Footprint at Pinderi Hills

Alien Metals Ltd (AIM: UFO) is pleased to provide an update covering recent activities and exploration works completed and assessed by Errawarra Resources Ltd ("Errawarra") at its 100% owned Pinderi Hills silver and precious metals project (the "Project" or "Pinderi Hills") in Western Australia.

As announced on 29 April 2024, Errawarra entered into a joint venture agreement with Alien in respect of the lithium rights of the Project (the "JV"). Recent results provided by Errawarra concerning exploration for lithium at the Pinderi Hills Project have confirmed that the Munni Munni Mafic Complex is highly prospective for PGE's, nickel and copper. As part of the terms of the JV, Errawarra has a first right of refusal to acquire all the remaining mineral rights to the Pinderi Hills nickel, copper, and platinum group metals projects.

Highlights:

Results from over 1,000 samples collected at Pinderi Hills were received

·    Reconnaissance samples from Pinderi Hills Project confirm lithium pegmatite potential

·    New large lithium soil footprint identified within 6km² area

·    Lithium trends with up to 3km strike highlighted by anomalous soil and stream samples

·    Second anomalous lithium area highlighted by stream samples

·    Rock chip sample reports 288ppm Li₂O with associated anomalous Cs, Ta and Nb

·    Follow-up planning underway

Munni Munni Anomaly:

The results of reconnaissance samples comprising soil (926 samples), stream sediment (190 samples) and rock chip (37 samples) undertaken on the Pinderi Hills JV tenements have been received and assessed. The stream samples covered the entire tenement package while the soil samples were restricted to the area covered by tenements M47/123, 124, 125 and 126 and a portion of E47/3322. Rock chip samples were taken when a pegmatite was identified while undertaking the soil and stream sediment sampling programmes.

The soil samples which were taken on a 400m x 100m north-south orientated grid have highlighted several closely related linear anomalous Li₂O trends within a 6km² footprint. These trends are highly suggestive of lithium bearing pegmatites due to the linear and swarm characteristics of the anomalies. Although preliminary limited on ground investigations have not identified a cause for the anomalous sample results, a pegmatite rock chip sample located within the anomalous zone has reported 73 ppm Li₂O. The stream sediment samples associated with the lithium soil anomalism in this area have also reported anomalous Li₂O
values which complements the soil results and further highlights the prospectivity of this area within the project tenements.

Figure 1: Pinderi Hills Joint Venture Tenements - provided by Errawarra

Figure 2: Lithium Footprint showing Linear Trends - provided by Errawarra

Figure 3. Location of Soil and Stream Sampling Programs - provided by Errawarra

Maitland Lithium Anomaly:

Three spatially related stream sediment samples located on the margin of the Maitland Mafic Intrusion and 10km northeast of the Munni Munni lithium anomaly have also reported Li₂O greater than 50ppm Li₂O (Figure 1). This result is anomalous for the streams in this region and follow-up of this anomalous area by further stream sediment or soil samples is to be undertaken.

Anomalous Rock Chip Sample:

A sample from possible pegmatite located 6km due east of the Munni Munni lithium anomaly has reported 288ppm Li₂O along with associated elevated Cs, Ta and Nb which is characteristic of a LCT pegmatite. Follow-up of this anomalous rock chip sample will be a priority.

Next steps:

The first pass sampling program which covered the entire tenement package of 175 km² has provided encouraging results and confirmed the lithium fertility of the JV tenements. Follow-up work programs will initially focus on resolving the larger Munni Munni lithium soil trends as well as following-up the Maitland anomalous lithium stream anomaly and the isolated anomalous lithium pegmatite sample that reported 288 ppm Li₂O and associated pathfinder elements.

Robert Mosig, Non-Executive Director, commented:

"This is a pleasing start to the exploration programmes at Pinderi Hills. Errawarra is a valued joint venture partner and we look forward to further positive lithium exploration results as the work programmes are implemented.

"Importantly, the data being gathered by Errawarra, at no cost to Alien, will continue to provide the Company essential information that will assist in the analysis and drill targeting for silver, base and precious metals."

Competent Person Statement

The information in this announcement relating to the Project is based on information compiled by Thomas Reddicliffe, BSc (Hons), MSc, Fellow of the AUSIMM (Director of Errawarra Resources Limited) and has been reviewed 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 announcement of the information in the form and context in which it appears. Mr Toms has declared that he holds Performance Rights in the Company.

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

Alien Metals Limited
Guy Robertson

GR@alienmetals.uk

Tel: +61 (0) 407 983 270

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

alienmetals@yellowjerseypr.com

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 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).