New Targets for Exploration Across Elizabeth Hill

New Targets for Exploration Across the Elizabeth Hill Silver Project

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 announced the results of a detailed drone magnetic survey completed at the Elizabeth Hill Silver Project near Karratha, in the Pilbara region of Western Australia.

Bruce Garlick, Chairman of Alien Metals, commented:

"The results delivered by West Coast Silver mark a very important step forward for the Elizabeth Hill Project. The high-resolution drone magnetic survey has not only refined our understanding of the structural controls at the historical mine but has also highlighted a series of new targets that point to a much larger mineralised system than previously demonstrated.

"The identification of multiple structural targets, particularly those located close to the original workings and supported by surface sampling and drilling, reinforces our view that Elizabeth Hill retains significant untapped potential.

"As West Coast advances its 2026 exploration programme, Alien remains confident that continued integration of geophysics, geochemistry, and drilling will unlock further value across the broader tenement package. The scale of the structures identified, including new trends beyond the Munni Munni fault, underscores the opportunity for repeat, high-grade silver mineralisation within the joint venture 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:

Alien Metals Limited

Bruce Garlick

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

New Targets for Exploration Across the Elizabeth Hill Silver Project

Highlights

• A high-resolution drone magnetic survey was completed in Q4 2025 covering ~14 km2 of the main Elizabeth Hill mineralised trend.
• The aim of the geophysical survey was to map out structures across the Elizabeth Hill prospect e.g. faults, that could be trap sites for potential silver mineralisation.
• The drone magnetic survey identified multiple new targets for mineralisation testing along known (Munni Munni fault) and new structural trends.
• Key structures defined by the drone survey were coincident with anomalous surface and near-surface assays from field sampling and aircore drilling.
• Twenty (20) structural targets are defined at the intersection of interpreted fault structures having the potential to localise silver mineralisation.
• Eight (8) of twenty structural targets are located within 1.2 km of the historical Elizabeth Hill silver mine.
• Proximity of geophysical targets to Elizabeth Hill mine and overlap with significant surface sampling and aircore drilling assays, confirms near-mine growth potential and importance of structures in mineralisation localisation.
• The Munni Munni fault is confirmed as a key mineralised structure over a length of 6.8 km, with mineralisation discovered (aircore and surface assays) coincident with the fault north and south of Elizabeth Hill silver mine.
• Drone magnetics defined structural targets are not limited to the Munni Munni fault, with the eastern margin of the Munni Munni intrusion identified as a new potential structural setting for silver and critical metals occurrences.

West Coast Silver Limited (ASX: WCE) ('West Coast Silver' or the 'Company') is pleased to announce the results of a detailed drone magnetic survey completed at its flagship Elizabeth Hill silver project in the Pilbara region of Western Australia (Figure 2, Figure 3). The survey has highlighted multiple new exploration target areas, and the potential for a larger-scale silver-bearing mineralised system beyond the historical high-grade Elizabeth Hill mine.

Commenting on the results, Executive Chairman Bruce Garlick said:

"The results from WCE's detailed drone magnetic survey confirm structures controlling silver mineralisation at Elizabeth Hill extending well beyond the historical mine workings. The results when overlain with previously reported anomalous surface sampling and aircore drilling assays show a pattern of new targets along the Munni Munni fault north and south of Elizabeth Hill, and significantly in new locations not along the Munni Munni fault.

The identification of multiple fault jogs and structural intersections, with eight of the twenty targets located proximal to the Elizabeth Hill mine, reinforces our view that the Elizabeth Hill deposit is unlikely to be a standalone occurrence. Elizabeth Hill is potentially part of a broader, repeatable silver mineralised system. Testing the near mine and regional potential for mineralisation is part of WCE's planned 2026 exploration scope of works.

These results give us confidence in using and testing new geophysical techniques in conjunction with surface geochemistry and mapping to continue to define new targets for future drill testing".

Survey Results and Interpretation

A detailed drone magnetic survey, covering ~14 km2 of WCE tenement holding and centred on the north-south trending Munni Munni fault, was designed to refine the structural architecture controlling silver mineralisation at Elizabeth Hill for application in identifying new regional target areas (refer to ASX Announcement dated 13 November 2025 for JORC Table with drone magnetic survey details).

A drone magnetic survey uses a drone fitted with a sensitive magnetometer to measure small variations in the Earth's magnetic field across the project area (Figure 1). These variations reflect differences in rock types and structures beneath the surface, allowing geologists to map faults, contacts and geological features that may control mineralisation. Because the drone flies low with closer line spacing, it is able to capture much higher-resolution data than older regional airborne surveys, helping identify smaller structural features that could potentially host silver mineralisation.

The high-resolution drone magnetic survey successfully resolved fault flexures, splays and intersections that were not clearly defined from earlier regional, wider spaced, magnetic surveys. Structural analysis has interpreted 20 discrete target zones with potentially silver-favourable mineralisation traps at fault bends and intersections between the Munni Munni fault and secondary structures Figure 2). Some of these new magnetic targets are supported by anomalous surface geochemistry and aircore drilling (refer to ASX Announcement dated 24 February 2026), providing greater confidence in the interpretations.

Eight targets are located within 1.2 km of the historical Elizabeth Hill silver mine, with six targets aligned south along the Munni Munni fault in a "Pearls-On-a-String" style. These six targets are potentially in similar structural settings to, and repetitions of, that hosting the Elizabeth Hill silver deposit.

The interpretation also highlights the eastern margin of the Munni Munni intrusion, as a secondary target corridor. This eastern corridor is supported by the intersection of structural targets and granite/ultramafic contact and identified geochemical soil anomalies (refer to ASX Announcement dated 5 August 2025).

Recent 2025 diamond drilling confirmed the presence of a broader halo of base-metal sulphides (copper, lead and zinc) surrounding silver-bearing veins (refer to ASX Announcement dated 4 February 2026). This supports the use of further geophysics (Magnetics, Induced Polarization methods) to refine sulphide-rich structures and prioritise drilling targets.

Next Steps

The Company will progress a systematic evaluation of the 20 identified targets, ranking and prioritising them for follow-up exploration based on structural setting, proximity to known mineralisation and integration with existing datasets. This work will consider the application of Induced Polarisation geophysical surveys to better define sulphide-bearing structures and refine drill targeting.

Induced Polarisation (IP) is a geophysical technique used to detect sulphide minerals beneath the ground. When an electrical current is sent into the ground, sulphide minerals (such as lead, zinc and copper sulphides) temporarily store electrical charge and release it slowly. This creates a measurable signal. Because silver mineralisation at Elizabeth Hill is associated with sulphide minerals surrounding the veins, IP surveys can help detect sulphide-rich zones; map mineralised structures beneath surface cover; and identify the best locations for drilling. Where magnetics maps structures, IP can detect the mineralised zones along those structures.

Given the success of the detailed drone magnetic survey, expansion of detailed magnetic coverage across the broader ~180 km² tenement package will be flown in Q1 and Q2 2026. Results from this program will be integrated with drilling, geological and geochemical data to guide the design and sequencing of future drill programs.

Figure 1: Drone magnetic survey undertaken in October 2025.

Figure 2: Drone magnetics (total magnetic intensity -reduced to the pole) of the Elizabeth Hill area. The Munni Munni fault (host to silver at the Elizabeth Hill Mine) and secondary structures are apparent in the data. 20 structural targets (fault bends and intersecting structures) are interpreted in the survey area with 8 targets within 1.2 km of the Elizabeth Hill Mine.

The Elizabeth Hill Project

• Mining operations ceased in 2000 as a result of low silver prices (US $5)[2].

Figure 3: Elizabeth Hill Project Tenement Location.

Bruce Garlick

Executive Director

West Coast Silver Limited

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