Exercise of Options and Receipt of Funds

West Coast Silver Exercise of Options and Receipt of Funds

Alien Metals Limited (AIM: UFO), a minerals exploration and development company, announces that its joint venture partner, West Coast Silver Limited (ASX: WCE) ("West Coast" or "West Coast Silver") has received a cash injection of approximately A$500,000 following the exercise of unlisted options exercisable at A$0.155 each expiring 24 September 2028.

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

Zeus Capital Limited (Joint Broker)

Harry Ansell / Katy Mitchell

Tel +44 (0) 203 829 5000

Turner Pope (Joint Broker)

Andy Thacker / Guy McDougall

Yellow Jersey (Financial PR)

Charles Goodwin / Shivantha Thambirajah

Appendix A - ASX: WCE ANNOUNCEMENT

Exercise of Options and Receipt of Funds

West Coast Silver Limited (ASX: WCE) (West Coast Silver or the Company) advises that it has received a cash injection of approximately A$500,000 following the exercise of unlisted options exercisable at $0.155 each expiring 24 September 2028.

The funds received will be applied to working capital and to advance the Company's 2026 drilling and exploration program, supporting continued momentum across its core projects.

Further details regarding the option exercises and the issue of securities are contained in the Appendix 2A lodged with the ASX on 29 December 2025.

The Company thanks participating option holders for their continued support.

Bruce Garlick

Executive Director

West Coast Silver Limited

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.

Figure 3: Tenement Location

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.

[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