Elizabeth Hill Diamond Drilling Confirms Silver

In brief · summary, not quotable

Alien Metals Limited announced exceptional diamond drilling results from the Elizabeth Hill Silver Project, with hole 26WCDD037 intersecting 38.3 meters at 878 g/t silver, including a significant 22.3 meters at 1,495 g/t silver and a bonanza grade of 1.4 meters at 23,360 g/t silver. These results, which extend mineralization beyond the current resource estimate and confirm high grades within and below it, are expected to inform an updated Mineral Resource Estimate planned for Q4 2026. The company holds a 30% interest in the project.

Full announcement

Select text to share a quote on X · sign in to keep highlights & notes in your UFO notes

Alien Metals Limited (AIM: UFO), a minerals exploration and development company, announces that its joint venture partner in the Elizabeth Hill Silver Project ("Elizabeth Hill"), West Coast Silver Limited ("West Coast Silver") (ASX: WCE), has today announced the receipt of final assay results from diamond drilling completed at Elizabeth Hill.

Highlights:

·	Exceptional diamond drilling results from Elizabeth Hill, led by 38.3m @ 878g/t Ag from only 3.7m downhole in 26WCDD037, including 22.3m @ 1,495g/t Ag.
·	High-grade assays received from diamond holes 26WCDD037-039, drilled to infill the April 2026 Mineral Resource Estimate (MRE) and test extensions to mineralisation beyond the current resource 1 .
·	Mineralisation was intersected outside the current MRE, extending the system to near-surface and westward into granite.
·	High grades confirmed within and below the current MRE.
·	Significant intersections >10 g/t Ag include (all intervals are downhole lengths, not true widths):

38.3m @ 878 g/t Ag from 3.7m downhole (26WCDD037), including -

> 22.3m @ 1,495 g/t Ag from 19.7m including -

>> 1.4m @ 23,360 g/t Ag from 29.0m including

>> 0.5m @ 64,745 g/t Ag from 29.0m.

> 13.5m @ 2,253 g/t Ag from 45.0m including -

>> 9.15m @ 3,318 g/t Ag from 47.85m.

63.0m @ 53 g/t Ag from 2.0m downhole (26WCDD038), including -

> 31.3m @ 92 g/t Ag from 26.7m including -

>> 0.43m @ 845 g/t Ag from 46.77m;

>> 1.0m @ 1,060 g/t Ag from 51.0m.

20.15m @ 53 g/t Ag from 15.0m downhole (26WCDD039), including -

> 14.8m @ 61 g/t Ag from 16.2m;

> 1.15m @ 116 g/t Ag from 34.0m;

> 10.12m @ 15 g/t Ag from 43.88m.

·	Drilling in a new orientation from west to east confirms an extension of mineralisation into granite outside of MRE and high-grade mineralisation within the MRE that had not been extensively tested by previous drilling from east to west.
·	The new assays are expected to inform the updated MRE through potential additions to mineralised volume and changes to estimated silver grades both within and outside the current MRE. An updated JORC 2012 MRE is planned for Q4 2026.
·	Further west-to-east oriented diamond drilling planned for H2 2026 is designed to:

improve geological and grade confidence to support assessment of portions of the current Inferred Mineral Resource for potential classification as Indicated Mineral Resources;
further define and test the limits of near-surface granite-hosted mineralisation; and
assess the continuity and distribution of interpreted higher-grade mineralisation within the current MRE area, particularly in areas previously tested by east-to-west drilling.

1 Refer ASX Announcement "Elizabeth Hill - 2.8Moz Silver Mineral Resource Estimate" dated 22 April 2026

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

The full West Coast Silver announcement can be viewed at: http://www.rns-pdf.londonstockexchange.com/rns/3323S_1-2026-8-26.pdf

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

Alien Metals Limited

Vince Fayad

Strand Hanson (Financial and Nominated Adviser)

James Harris / James Dance / Edward Foulkes

Turner Pope (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.