Heritage Agreements signed for Hancock Project

Heritage Agreements signed for Hancock Iron Ore Project Exploration Licences and Miscellaneous Licence

Alien Metals Ltd (AIM: UFO), a minerals exploration and development company, is pleased to announce its subsidiary company Iron Ore Company of Australia ("IOCA") has executed Heritage Agreements ("HPAs") with the Karlka Nyiyaparli Aboriginal Corporation RNTBC ("KNAC") associated with two exploration licences and one miscellaneous licence for its 90% owned Hancock Iron Ore Project ("Hancock Project"), in the Pilbara Region, Western Australia.

Highlights:

• IOCA has entered into the HPAs with KNAC for exploration licence applications E 47/4817, E 47/5001, and Miscellaneous Licence application L 47/1063 at the Hancock Project ("the Licences").
• The Nyiyaparli native title determination spans the Hancock Project and associated tenements, which have significant potential for additional iron ore discoveries (AIM: 2 August 2023).
• The HPAs are a critical step in the Company's engagement with Nyiyaparli Traditional Owners in relation to the Hancock Project and their endeavours for long-term collaboration, cooperation and agreed protection measures for areas of cultural importance to Nyiyaparli people and inter alia provide the basis for the Company undertaking the required heritage surveys.
• The HPAs provide for the grant of the Licences without objection by native title parties, including the withdrawal of existing objections as well as mechanisms for engagement with the Nyiyaparli People and the conduct of heritage surveys.
• The miscellaneous licence provides the Company necessary tenure to construct essential infrastructure (subject to FID) for road access from the Great Northern Highway to the proposed mine site.
• The finalisation of the HPAs reflects the constructive relationship Alien has developed with KNAC as the registered representative body for Nyiyaparli Native title Holders as it continues negotiations on a separate mining agreement providing for common law holders' consent to the grant of mining tenure and operations, which is due to be considered by the end of 2023.

Troy Whittaker, Chief Executive Officer commented:

"The Company and its Board would like to thank the Karlka Nyiyaparli Aboriginal Corporation and its Board of Nyiyaparli Directors for their support in reaching this significant milestone regarding the relevant Licences. We are delighted to have signed the HPAs as they will further advance the approvals pathway and in the long-term, it will assist in the Company de-risking the project execution for the Hancock Project".