West Coast Silver A$3.2m Placement

West Coast Silver A$3.2m Placement to Fund 2026 Exploration at Elizabeth Hill

Alien Metals Limited (AIM: UFO), a minerals exploration and development company, is pleased to advise that its joint venture partner, West Coast Silver Limited (ASX: WCE) ("West Coast" or "West Coast Silver") has received firm commitments to raise A$3.2 million (before costs) via a placement of fully paid ordinary shares (the "Placement") to existing and new institutional and professional investors.

Following completion of the Placement, Alien will hold an 8.7% interest in the then issued share capital of West Coast. The Placement is anticipated to be completed on or around 7 January 2026, subject to receipt of funds and completion of standard settlement procedures. A further announcement will be made at that time.

The Placement will provide additional funding to maintain exploration momentum at Elizabeth Hill and progress regional target evaluation across West Coast's consolidated project area.

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 / James Pope

Yellow Jersey (Financial PR)

Charles Goodwin / Shivantha Thambirajah

Appendix A - ASX: WCE ANNOUNCEMENT

$3.2m Placement to Fund 2026 Exploration at Elizabeth Hill

Highlights

• $3.2 million in firm commitments received via a strategic placement to institutional and professional investors, led by CPS Capital.
• Proceeds to advance drilling, assay processing and follow-up exploration at the Elizabeth Hill Silver Project, together with regional target evaluation.
• Exploration focused on identifying additional Elizabeth Hill-style silver mineralisation and assessing the potential for repeat deposits within the broader district.
• Assay results expected early in the New Year, providing near-term newsflow.
• Technical site visits planned in January/early February 2026, including engagement with specialist geologists to refine 2026 exploration priorities.

Executive Chairman Bruce Garlick said:

"Strong support from existing and new investors puts West Coast Silver in a well-funded position heading into 2026. Against a supportive silver price backdrop, we're focused on advancing Elizabeth Hill and accelerating target generation across the broader district, with assays expected early in the New Year and technical site visits planned in January/early February."

West Coast Silver Limited (ASX: WCE) (West Coast Silver or the Company) is pleased to advise that it has received firm commitments to raise $3.2 million (before costs) via a placement of fully paid ordinary shares (Placement) to existing and new institutional, professional and sophisticated investors.

The Placement provides additional funding to maintain exploration momentum at Elizabeth Hill and progress regional target evaluation across the Company's consolidated project area.

Use of Funds

Funds raised will be applied to:

• Ongoing drilling and follow-up exploration at the Elizabeth Hill Silver Project
• Assay processing and interpretation, with results expected early in the New Year
• Evaluation of near-mine and regional targets aimed at identifying additional Elizabeth Hill-style silver mineralisation and the potential for repeat deposits within the district
• Technical site visits planned for January/February 2026, including engagement with specialist and expert geologists to refine 2026 exploration priorities
• General working capital to support an expanded exploration program

The successful capital raising places West Coast Silver in a strong financial position heading into 2026, with multiple exploration and news-flow catalysts anticipated.

Placement

The Placement comprises the issue of 16,842,106 fully paid ordinary shares at an issue price of $0.19 per share (New Shares). The Placement is within the Company's placement capacity under ASX Listing Rule 7.1.

The Placement issue price represents a 11.9% discount to the Company's fifteen (15) day volume weighted average price (VWAP) 0.2157. The Placement is expected to close on 5 January 2026, with New Shares to be issued on or around 7 January 2026, subject to receipt of funds and completion of standard settlement procedures.

The Placement was led by CPS Capital Group Pty Ltd as Lead Manager, for which it will receive standard capital raising fees and broker options, subject to shareholder approval where required.

Next Steps

With exploration activity underway and assays pending, West Coast Silver is positioned to carry momentum into 2026. Assay results are expected early in the New Year, and technical site visits are planned for January/early February to support target refinement and program planning.

The Elizabeth Hill Project

• Previous mining operation ceased in 2000: because of low silver prices (US$5)[2].

Figure 3: Tenement Location.

This ASX announcement has been authorised for release by the Board of Directors of West Coast Silver Limited.

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