Artemis and West Coast sign MoU on Radio Hill

Alien Metals Limited

04 December 2025

 

Trading Symbols

AIM: UFO

FWB: I3A1

4 December 2025

Alien Metals Limited

("Alien" or the "Company")

Artemis and West Coast Silver Sign Joint Memorandum of Understanding on Radio Hill

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) ("West Coast" or "West Coast Silver") has announced that it has entered into a non-binding Memorandum of Understanding ("MoU") with Artemis Resources Limited (ASX/AIM: ARV) ("Artemis") to evaluate the potential for Artemis' Radio Hill Processing Plant, located near Karratha, to process material sourced from West Coast's Elizabeth Hill Silver Mine in the Pilbara.

 

Belinda Murray, Executive Director of Alien, commented:

"We welcome West Coast Silver's decision to advance formal discussions with Artemis Resources regarding the potential use of the Radio Hill processing plant, as it establishes a viable processing pathway, an important component of the broader development strategy at Elizabeth Hill. The MoU represents a sensible and early step in assessing optionality, and we are supportive of West Coast undertaking this work as part of its systematic approach to evaluating development scenarios for the project."

The full text of the announcement issued by West Coast Silver is provided below in Appendix A.

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 / Edward Foulkes

Tel: [phone]

Zeus Capital Limited (Joint Broker)

Harry Ansell / Katy Mitchell Tel [phone]

Turner Pope (Joint Broker)

Andy Thacker / James Pope

Tel: [phone]

Yellow Jersey (Financial PR)

Charles Goodwin / Shivantha Thambirajah

Tel: [phone]

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 follows a balanced strategy of advancing and strengthening its asset portfolio through targeted technical work and project development, while evaluating partnerships, joint ventures, and selective monetisation opportunities that are value-enhancing for shareholders. At the same time, Alien will continue to consider opportunities to expand our asset base through carefully selected acquisition opportunities which meet the Board's prudent criteria.

Alien's principal focus is the advancement and development of its 90%-owned Hancock Iron Ore Project in the central Pilbara region of Western Australia. The Hancock tenements contain a JORC-compliant resource of 8.4Mt at 60% Fe and offer significant exploration upside, which is targeted to deliver a mining operation of 2Mtpa for 10 years. The Project benefits from direct access to the Great Northern Highway, providing a route to export facilities at Port Hedland, one of the world's largest iron ore export hubs. Alien also holds exploration interests in the Brockman and Vivash iron ore projects in the West Pilbara.

Alien additionally retains exposure to two advanced precious and base metal assets in the Pilbara. At Munni Munni, one of Australia's largest PGM systems hosting a historic resource of 2.2Moz PGM (Palladium, Platinum, and Rhodium) and gold, the Company has entered into a conditional joint venture with GreenTech Metals Ltd, under which Alien will retain a 30% interest, free carried to the completion of a bankable feasibility study. Alien also retains a 30% interest in the Elizabeth Hill Silver Project through a joint venture with West Coast Silver Limited, which encompasses 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 1990s.

Appendix A - ASX: WCE ANNOUNCEMENT

Artemis and West Coast Silver Sign Joint Memorandum of Understanding on Radio Hill

Highlights

·    West Coast Silver (ASX: WCE) and Artemis Resources (ASX: ARV) have jointly executed a non-binding Memorandum of Understanding to collaboratively assess processing options for the Elizabeth Hill Silver Mine.

·    The evaluation will focus on the suitability of the Radio Hill Processing Plant to potentially treat material from West Coast Silver's Elizabeth Hill Silver Mine.

·    Both parties will exchange relevant technical, metallurgical, logistical, and engineering information. Site visits and joint technical assessments will be undertaken where required.

·    Any future toll treatment or commercial arrangement remains subject to a separate definitive agreement following a positive technical and commercial assessment.

West Coast Silver Limited (ASX: WCE) (West Coast or the Company) is pleased to jointly announce that it has entered into a non-binding Memorandum of Understanding (MOU) with Artemis Resources (ASX: ARV) (Artemis) to evaluate the potential for Artemis' Radio Hill Processing Plant, located near Karratha, to process material sourced from West Coast's Elizabeth Hill Silver Mine in the Pilbara.

Under the terms of the MOU, West Coast and Artemis will work together in good faith to determine whether the Radio Hill Processing Plant could feasibly and economically process ore or material originating from the Elizabeth Hill Silver Mine. This cooperation includes the exchange of technical data, metallurgical samples, plant configuration details, and logistical information relating to transport and handling.

Commenting on the aircore program, Executive Director Bruce Garlick commented:

"Elizabeth Hill is one of Australia's historically highest-grade silver deposits. The opportunity to assess Radio Hill as a potential processing solution aligns with our strategy to fast-track development while maintaining capital discipline."

Artemis Resources Executive Director, Joszef Patarica commented:

"Radio Hill has historically demonstrated versatility across multiple ore types. This cooperation allows us to assess future processing opportunities while supporting potential development of a high-grade silver project in our region."

Confidentiality & Costs

The MOU is non-binding and does not create any commercial obligations, partnership, or joint venture between the parties. Any formal processing agreement, including toll treatment arrangements, will only proceed subject to the completion of a favourable technical and commercial assessment and subsequent negotiation of a definitive binding agreement. There are no financial obligations on either party until the parties agree to proceed to a binding agreement.

Both companies have agreed to maintain the confidentiality of exchanged information, subject to obligations under the Corporations Act 2001 (Cth) and the ASX Listing Rules. Each party will bear its own costs associated with the preparation and implementation of the MOU.

Next Steps

Technical teams from both companies will now commence data sharing, review of plant capabilities, and assessment planning. West Coast and Artemis will provide further updates as material progress is made.

Key Terms of the Agreement

1. Parties:	·    West Coast Silver (ASX:WCE) ·    Artemis Resources (ASX:ARV)
2. Background	Artemis owns the Radio Hill Processing Plant near Karratha, WA. West Coast Silver owns the Elizabeth Hill Silver Mine in the Pilbara. Both parties wish to assess processing compatibility on a good-faith, non-binding basis.
3. Scope of Cooperation - Activities	Exchange technical, metallurgical, logistical, and engineering information. Conduct site visits and technical reviews as needed. Jointly evaluate the feasibility and economics of toll-treating Elizabeth Hill material at Radio Hill.
4. Scope of Cooperation - Acknowledgements	The MOU is non-binding except for confidentiality, costs, and governing law. Any future commercial agreement (e.g., toll treatment) requires a separate definitive contract after positive technical/commercial assessment.
5. Confidentiality	All information exchanged must remain confidential and used solely for the assessment. Disclosure obligations under the Corporations Act and ASX Listing Rules still apply.
6. Costs	Each party will bear its own costs in preparing and implementing the MOU.
7. Governing Law	The MOU is governed by the laws of Western Australia, with non-exclusive jurisdiction.

About Radio Hill

The Radio Hill Processing Plant is a fully permitted 425,000 tonnes per annum (tpa) nickel-copper concentrator located 35 km south of Karratha in Western Australia's Pilbara region. Artemis purchased the plant in 2016 and surrounding assets from Fox Resources. The plant includes flotation circuits, tailings storage facility, administration and maintenance buildings, fully developed underground mine and Gekko gravity plant. The plant remains on care and maintenance but can be rapidly recommissioned.

Figure 1: Radio Hill Processing Plant (2025)

Figure 2: Radio Hill Gekko Plant (2025)

The Elizabeth Hill Project

Elizabeth Hill is historically one of Australia's highest grade silver projects and has a proven production history outlined below:

•   High grades enabled 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 in 2000: because of low silver prices (US$5)^[2].

•   Simplistic historical processing technique: native silver was recovered via low-cost gravity separation techniques.

•   Untapped potential remains in ground with deposit open at depth and recent consolidation of land package offers potential to discover more Elizabeth Hill style deposits.

•   Tier 1 Mining Jurisdiction located on a mining lease with potential processing option at the nearby Radio Hill site. Radio Hill is a third-party-owned processing facility; WCE has no current agreement in place."

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, and other fault systems subparallel to the Munni Munni fault system, which are considered prospective for Elizabeth Hill look-a-like silver deposits.

Figure 10: Elizabeth Hill Project Tenement Location.

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[1] WAMEX Annual Report,1 April 2014 to 31 March 2015, Elizabeth Hill Silver Project, Global Strategic Metals NL, p16

[2] www.kitco.com/charts/silver

 

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