Elizabeth Hill – Growth & Development Plan

In brief · summary, not quotable

Alien Metals Limited, holding a 30% interest in the Elizabeth Hill Silver Project and an 8.7% stake in West Coast Silver, has noted the release of a growth and development plan by its joint venture partner. This plan outlines a pathway to near-term production and scalable resource growth, aiming to position Elizabeth Hill as a globally competitive, low-capital cost undeveloped silver project. The strategy includes developing a high-margin starter open pit, leveraging a granted mining lease and historical production, and expanding the mineral resource through ongoing drilling to convert Inferred resources to Indicated status.

Full announcement

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Alien Metals Limited (AIM: UFO), a minerals exploration and development company, notes the release of an announcement from its joint venture partner at the Elizabeth Hill Silver Project ("Elizabeth Hill"), West Coast Silver Limited ("West Coast Silver") (ASX: WCE), which outlines the growth and development plan (the "Plan") for Elizabeth Hill in the West Pilbara, Western Australia following the release of its inaugural Mineral Resource on 22 April 2026 and recent high-grade drilling results.

Key Highlights:

The Plan establishes a clear pathway to near-term production and scalable resource growth, positioning Elizabeth Hill as one of the highest-grade for lowest capital cost undeveloped silver projects globally.
The Plan aims to unlock silver resource value and transition Elizabeth Hill to near-term, high-margin operation with phased growth.
High-margin starter open pit: Exceptional grade, low tonnage, 130m deep open pit key to a low capex, rapid payback pathway to position Elizabeth Hill for early cashflow generation.
De-risking production: Granted Mining Lease, historic production and simple metallurgy precedents support an accelerated route to development.
Growth beyond inaugural Mineral Resource Estimate: Open mineralisation at depth, laterally and along strike.
Realising increased tonnage and silver metal: +6,000m Reverse Circulation and diamond drilling in progress to expand the mineral resource and derisk resources from Inferred to Indicated status within the April 2026 optimised 20 g/t Ag pit shell.
Further details on the Plan are provided in West Coast Silver's updated investor presentation released today.

Alien holds a 30% interest in Elizabeth Hill and holds 30.5 million shares in West Coast Silver (representing an 8.7% interest in the issued share capital of West Coast Silver).

The full West Coast Silver announcement is available at: Elizabeth Hill - Growth & Development Plan

The updated West Coast Silver investor presentation is available at: Investor Presentation

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

IFC Advisory (Financial PR and Investor Relations)

Tim Metcalfe / Graham Herring / Zach Cohen

Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.