Elizabeth Hill Diamond Drilling Confirms Silver

Alien Metals Limited

27 August 2026

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (596/2014/EU) AS THE SAME HAS BEEN RETAINED IN UK LAW AS AMENDED BY THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

27 August 2026

Alien Metals Limited

("Alien", "Alen Metals" or the "Company")

Diamond Drilling Confirms Bonanza-Grade Silver and Extends Mineralisation at Elizabeth Hill

Alien Metals Limited (AIM: UFO), a minerals exploration and development company, announces that its joint venture partner in the Elizabeth Hill Silver Project ("Elizabeth Hill"), West Coast Silver Limited ("West Coast Silver") (ASX: WCE), has today announced the receipt of final assay results from diamond drilling completed at Elizabeth Hill.

Highlights:

·	Exceptional diamond drilling results from Elizabeth Hill, led by 38.3m @ 878g/t Ag from only 3.7m downhole in 26WCDD037, including 22.3m @ 1,495g/t Ag.
·	High-grade assays received from diamond holes 26WCDD037-039, drilled to infill the April 2026 Mineral Resource Estimate (MRE) and test extensions to mineralisation beyond the current resource1.
·	Mineralisation was intersected outside the current MRE, extending the system to near-surface and westward into granite.
·	High grades confirmed within and below the current MRE.
·	Significant intersections >10 g/t Ag include (all intervals are downhole lengths, not true widths):
	- 38.3m @ 878 g/t Ag from 3.7m downhole (26WCDD037), including -
	> 22.3m @ 1,495 g/t Ag from 19.7m including -
	>> 1.4m @ 23,360 g/t Ag from 29.0m including
	>> 0.5m @ 64,745 g/t Ag from 29.0m.
	> 13.5m @ 2,253 g/t Ag from 45.0m including -
	>> 9.15m @ 3,318 g/t Ag from 47.85m.
	- 63.0m @ 53 g/t Ag from 2.0m downhole (26WCDD038), including -
	> 31.3m @ 92 g/t Ag from 26.7m including -
	>> 0.43m @ 845 g/t Ag from 46.77m;
	>> 1.0m @ 1,060 g/t Ag from 51.0m.
	- 20.15m @ 53 g/t Ag from 15.0m downhole (26WCDD039), including -
	> 14.8m @ 61 g/t Ag from 16.2m;
	> 1.15m @ 116 g/t Ag from 34.0m;
	> 10.12m @ 15 g/t Ag from 43.88m.
·	Drilling in a new orientation from west to east confirms an extension of mineralisation into granite outside of MRE and high-grade mineralisation within the MRE that had not been extensively tested by previous drilling from east to west.
·	The new assays are expected to inform the updated MRE through potential additions to mineralised volume and changes to estimated silver grades both within and outside the current MRE. An updated JORC 2012 MRE is planned for Q4 2026.
·	Further west-to-east oriented diamond drilling planned for H2 2026 is designed to:
	- improve geological and grade confidence to support assessment of portions of the current Inferred Mineral Resource for potential classification as Indicated Mineral Resources;
	- further define and test the limits of near-surface granite-hosted mineralisation; and
	- assess the continuity and distribution of interpreted higher-grade mineralisation within the current MRE area, particularly in areas previously tested by east-to-west drilling.

¹ Refer ASX Announcement "Elizabeth Hill - 2.8Moz Silver Mineral Resource Estimate" dated 22 April 2026

Alien holds a 30% interest in Elizabeth Hill and holds 30.5 million shares in West Coast Silver (representing an approximate 8.7% interest in the issued share capital of West Coast Silver).

The full West Coast Silver announcement can be viewed at: http://www.rns-pdf.londonstockexchange.com/rns/3323S_1-2026-8-26.pdf

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

Alien Metals Limited

Vince Fayad

Email: [e-mail]

Strand Hanson (Financial and Nominated Adviser)

James Harris / James Dance / Edward Foulkes

Tel: [phone]

Turner Pope (Broker)

Andy Thacker / Guy McDougall

Tel: [phone]

IFC Advisory (Financial PR and Investor Relations)

Tim Metcalfe / Graham Herring / Zach Cohen

Tel: [phone]

Notes to Editors

Alien Metals Limited is a minerals exploration and development company quoted on the AIM market of the London Stock Exchange (AIM: UFO). The Company follows a balanced strategy focused on advancing and strengthening its asset portfolio through targeted technical work and project development, while evaluating partnerships, joint ventures and selective monetisation opportunities to enhance shareholder value. Alien will also continue to consider carefully selected acquisition opportunities consistent with the Board's disciplined investment criteria.

Alien's 100%-owned Georgina Basin IOCG Project comprises approximately 2,500 km² of tenure in the East Tennant region of the Northern Territory. The Project includes seven granted exploration licences and three exploration licence applications, an extensive historical technical dataset, more than 90 conceptual IOCG targets and three advanced prospects associated with significant gravity anomalies.

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, a historical estimate of 2.2 Moz¹ of platinum-group metals and gold has previously been reported. The Company has completed its partial asset sale and joint venture transaction with GreenTech Metals Ltd, under which Alien retains a 30% interest, free-carried to completion of a bankable feasibility study, and also holds 37.9 million shares in GreenTech Metals Ltd. Alien, through a wholly owned subsidiary, also retains a 30% interest in the Elizabeth Hill Silver Project pursuant to a joint venture with Crest Silver Pty Ltd, a wholly owned subsidiary of West Coast Silver Limited. The joint venture encompasses the Elizabeth Hill Mining Lease M47/342, which produced some of Australia's highest-grade silver ore during the late 1990s. Alien's 30% interest is free-carried until West Coast Silver announces a Decision to Mine. Alien also holds 30.5 million shares in West Coast Silver Limited, providing both direct project exposure and equity participation in the project's ongoing exploration and development.

Competent Person's Statement

The information in this announcement that relates to Exploration Results is based on information reviewed by Mr Ian Stockton who is a Member of the Australian Institute of Geoscientists. Mr Stockton is a consultant to West Coast Silver and a full-time employee of ERM Australia Consultants Pty Ltd. Mr Stockton has sufficient experience that is relevant to the style of mineralisation and type of deposits under consideration, and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves', and a Specialist under the VALMIN Code 2015 Edition of the 'Australasian Code for Public Reporting of Technical Assessments and Valuations of Mineral Assets'. Mr Stockton consents to the inclusion in the announcement of the matters based on this information and in the form and context in which it appears.

 

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