MoU agreed with Pilbara Ports for Iron Ore Exports

Memorandum of Understanding executed with Pilbara Ports Authority for Iron Ore Exports

Alien Metals Ltd (AIM: UFO), a minerals exploration and development company, is pleased to announce it has entered into a conditional, non-binding Memorandum of Understanding ("MoU") with Pilbara Ports to access its Utah Bulk Handling Facility ("Utah Point"), multi-user berth in Port Hedland. The agreement is the first important step in securing the formal commitment from Pilbara Ports to export the iron ore produced by the Company's Hancock iron ore Project.

Highlights:

• Pilbara Ports and the Company's wholly owned subsidiary, Iron Ore Company of Australia Pty Ltd ("IOCA"), entered into an MoU
• Pilbara Ports operates in the Pilbara Region of Western Australia, with the Port of Port Hedland as the largest bulk export port in the world
• The MoU paves the way for IOCA to access the common-use stockpiles at Utah Point and export up to 1.25 million tonnes per annum (mtpa) of Iron Ore from Q4 2024
• IOCA is also pleased to announce that the next step in this process has progressed to a point whereby Pilbara Ports and IOCA have substantially agreed the terms of the binding agreement for iron ore export through Utah Point. This agreement is subject to the typical regulatory approvals

Troy Whittaker, Chief Executive Officer commented:

"The signing of the Port MoU and settling key terms of the formal multi-user agreement are important steps as we continue to secure the supply chain from development, operations and to the end customer. We are confident Pilbara Ports has the capacity and capability to handle our tonnage at the port and we are delighted to have signed the MoU. We acknowledge Pilbara Ports efforts to facilitate port access for miners such as IOCA and we look forward to working closely with them as we finalise the the binding agreement and seek the require regulatory approvals."

The MoU paves the way for IOCA to access the common-use stockpiles at Utah Point and export up to 1.25 million tonnes per annum (mtpa) of Iron Ore from Q4 2024. The MOU is subject to certain conditions, expires on 1 October 2024 and contains agreement that the Company and Pilbara Ports will work towards agreeing an agreement and licence which sets out the terms on which Pilbara Ports would allow IOCA to have access to the Utah Point. IOCA and the Pilbara Ports have substantially agreed the terms of this agreement and it is subject to the typical regulatory approvals.

Figure 1: Location of the Company's Iron Ore Projects, Western Australia

Figure 2: Hancock Project Tenements

Figure 3: Utah Point, Multi User Berth at the Port of Port Hedland

Figure 4: Utah Point, Multi User Berth at the Port of Port Hedland

Figure 5: Port Hedland Port

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

Beaumont Cornish Limited (Nomad)

James Biddle / Roland Cornish Tel: +44 (0) 207 628 3396

WH Ireland Ltd

Harry Ansell / Katy Mitchell Tel +44 (0) 207 220 1666

Yellow Jersey PR (Financial PR)

Charles Goodwin / Shivantha Thambirajah / Soraya Jackson Tel: +44 (0) 20 3004 9512