Alien Metals Ltd (LSE AIM: UFO), a global minerals exploration and development company, is pleased to announce that its wholly owned subsidiary Iron Ore Company of Australia Pty Ltd (IOCA) has completed its latest resource definition drilling program at it's flagship Hancock Iron Ore Project ('Hancock'), situated in the prolific iron ore producing region of the Pilbara, Western Australia Infill diamond core drilling has been completed at the Company's high grade Sirius Deposit.

The Sirius Deposit (Sirius) is a key element of IOCA's production plans. Of the Companys 4.2mt Mining Inventory, Sirius accounts for 2.3mt.

Highlights

Drilling program consisted of 13 Diamond Coreholes for a total of 1048.9m.

Excellent high grade results returned from the handheld portable XRF (pXRF) readings recorded across all holes.

Core is scheduled to be taken to the Laboratory imminently and the Company will update the market on those assay results as they become available.

Drilling supports further confidence in the Hancock Project Ore Resources and Reserves Given the high conversion rates of Ridges C and E (associated tenement targets) it is expected that Sirius will be upgraded to an Ore Reserve, after the requisite Mineral Resource Estimates and mining studies are completed.

Rod McIllree, Executive Director, commented: 'Completion of this phase of drilling is positive step in the Companys transition from explorer to developer and operator. Given the high conversion rate we have seen on Ridges C and E, we are confident of a further upgrade to the Ore Reserves once assay results have been received and our and external geological experts update the model' 'In the very near term, we are looking forward to updating the market on the significant progress we have made in relation to the Hancock Project. We are currently in the process of finalising preferred tenders for the project capital and operational works, which secures cost certainties and will allow us to finalise and update the feasibility and financial model and metrics for the project'

This drilling program executed 13 diamond core holes with a combined program of 1048.9m in total. Core recovery across the program has been excellent and the geological information has improved both geological and structural knowledge of the high grade ore zones. This, is now in addition to the 21 holes and 2082.5m previously drilled at Sirius. All holes have been logged for both geology and rock structure. Two of the holes were designed by consultant geotechnical geologists and drilled to provide geotechnical information that will aid in the optimisation and refinement of the currently designed open pit at the Sirius Extension

Alien Metals Ltd is a mining exploration and development Company listed on the AIM market of the London Stock Exchange (LSE: UFO). The Company's focus is on delivering a profitable, long life direct shipping iron ore operation based out of the Pilbara in Western Australia. In 2019, the Company acquired 51% of the Brockman and Hancock Ranges high-grade (Direct Shipping Ore) iron ore projects and in December 2022 moved to 90% legal and beneficial ownership. The Company also acquired 100% of the Vivash Gorge Iron Ore project in the west Pilbara in July 2022. The Company acquired 100% of the Elizabeth Hill Silver Project, which consists of the Elizabeth Hill Historic Mining Lease and the 115km2 exploration tenement around the mine. In March 2022 the Company acquired 100% of the former joint venture interest in the Munni Munni Platinum Group Metals and Gold Project in the West Pilbara, Western Australia, one of Australia's major underexplored PGE and base metals projects. Munni Munni holds a historic deposit containing 2.2Moz 4E PGM: Palladium, Platinum, Gold, Rhodium. The Company also holds silver, copper and base metal projects in various locations around the world however is currently looking at the best way to divest these for the benefit of shareholders.

Competent Person Statement The information in this announcement that relates to Exploration Results, is based on information compiled by Mr. Bradley Toms who is the Exploration Manager and a full time employee of Alien Metals Ltd. Mr. Toms is a Member of The Australian Institute of Geoscientists and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity that he is undertaking, to qualify as Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr. Toms consents to the inclusion in the document of the information in the form and context in which it appears. Mr Toms has declared that he holds Performance Rights in the Company

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