Announcement • May 08
Alien Metals Limited and West Coast Silver Limited Outline Growth and Development Plan for Elizabeth Hill Silver Project Alien Metals Limited had noted the release of an announcement from its joint venture partner at the Elizabeth Hill Silver Project, West Coast Silver Limited, which outlines the growth and development plan for Elizabeth Hill in the West Pilbara, Western Australia following the release of its inaugural Mineral Resource on April 22, 2026 and recent high-grade drilling results. 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). Alien (via wholly owned subsidiary A.C.N. 643 478 371 Pty Ltd) also retains a 30% interest in the Elizabeth Hill Silver Project through a joint venture with Crest, which encompasses the Elizabeth Hill Mining Lease M47/342, which has produced some of Australia's highest-grade silver ore during the late 1990s. Alien retains a 30% interest in the Elizabeth Hill Silver Project and additionally holds 30.5 million shares in West Coast Silver Limited, providing both direct project exposure and equity participation in ongoing development. Announcement • Apr 18
West Coast Silver Releases Elizabeth Hill Dhem Target Update Alien Metals Limited advised that its joint venture partner, West Coast Silver Limited released an announcement titled 'Elizabeth Hill Silver Project: New High Priority Target to be Drill Tested'. The attached West Coast Silver release outlines the identification of a new DHEM conductor target at the Elizabeth Hill Project, located approximately 50 metres east of the Elizabeth Hill Mine and at a depth of around 110 metres, which West Coast Silver intends to drill test immediately. The first Down Hole Electromagnetic (DHEM) data has been received and processed from the Elizabeth Hill Mine Project. A DHEM conductor has been identified, 50 metres to the east of the Elizabeth Hill Mine and 110 metres depth. The anomaly is represented by a discrete modelled plate (dimensions 20-100 metres by 60 metres) which has not been previously drill tested. Historic drill hole AG54, which intersected 2m at 42 g/t Ag, is situated 25 metres up-dip and aligned with the plate model. The conductance and position of the plates present a compelling drilling target. The Diamond drill rig onsite will move immediately to test the DHEM anomaly, with drilling expected to be completed in the coming week. This first use of electromagnetics by West Coast Silver at Elizabeth Hill which supports the effectiveness of the technique in identifying conductive drill targets. Further surface geophysics techniques are currently being trialled over the Elizabeth Hill deposit. Assay results from Reverse Circulation (RC) and Diamond Drill (DD) programs are anticipated to be received progressively throughout Second Quarter 2026. Hole 25WCDD0025 from West Coast Silver drill program in 2025 was cased with PVC earlier in the year as part of the preparation for trialling DHEM. The DHEM program was designed to test whether direct targeting of high-grade silver mineralisation could be achieved. The results from the current survey indicate: The conductance values of the identified DHEM plates (400-1,200 Siemens) are consistent with the expected range for target silver mineralisation as indicated by petrophysical studies conducted earlier in 2026. While other factors could account for the observed conductivity, the context, intensity, and position of the plates present a compelling drilling target. The upper edge of the plate is located roughly 110 metres beneath the surface and about 50 metres east of the Elizabeth Hill Mine. The modelled conductive plate has a discrete area 60m in the north-south plane and 20 to 100 metres down-dip. No other drilling has been conducted at this depth within the area. All prior drilling was positioned above or passing above this target zone, drilling westward away from this target towards the main Munni Munni Fault. A single drill hole planned from an existing drill pad to directly target the modelled plate at approximately 150 to 170 metres downhole depth. Since the geophysical target has not yet been directly intersected by prior drilling, it remains uncertain whether the drill hole conductor anomaly reflects the same quality, quantity, or mineralogy as observed at Elizabeth Hill Mine. These factors will only be confirmed through the forthcoming drill hole that will test the anomaly. West Coast Silver is conducting multiple exploration programs planned to end of May 2026, comprising reverse circulation drilling, diamond drilling, Down Hole and surface geophysics. The diamond drill rig is moving to test the DHEM anomaly with drilling expected to be completed in the coming week. Should mineralisation be intersected then cutting logging and assaying will be completed over Second Quarter 2026. Elizabeth Hill is historically one of Australia's highest grade silver projects and has a proven production history. High grades enabled low processing tonnes. A total of 1.2 Moz of silver was produced from just 16,830t of ore at a head grade of 2,194g/t (70.5 oz/t Ag). Mining operations ceased in 2000 as a result of low silver prices ($5). Simplistic historic processing techniques were used focussing only on native silver extraction. Native silver was recovered via low-cost gravity separation techniques. Untapped mineral resource expansion potential remains. The Elizabeth Hill deposit remains open at depth and along strike. Recent consolidation of the WCE tenement land holding offers potential to discover more Elizabeth Hill style deposits near mine and regionally. World leading silver grades located on a mining lease with potential processing option at the nearby Radio Hill site. Through the consolidation of surrounding land packages into a single contiguous 180km2 package, significant exploration and growth potential has been created near mine and regionally. The land package holds a significant portion of the Munni Munni fault system, and other fault systems subparallel to the Munni Munni fault system, which are considered prospective for Elizabeth Hill silver deposit analogues. Announcement • Apr 14
Alien Metals Limited Commences Diamond Drilling for High-Grade Silver Extensions Below the Elizabeth Hill Mine Alien Metals Limited advised that its joint venture partner, West Coast Silver Limited announced that an up to 1,500m (six holes) diamond drilling (DD) program has commenced at the Elizabeth Hill Silver Project near Karratha, in the Pilbara region of Western Australia, targeting areas directly below and next to the underground mine, where drilling in 2025 showed that silver extends to the surface. Drilling is expected to take between four and six weeks and results are expected to be received progressively through the Second Quarter 2026. West Coast Silver Limited announced an up to 1,500m diamond drilling (DD) program has commenced at its flagship Elizabeth Hill silver project in the Pilbara region of Western Australia. The drilling is designed to expand the existing footprint of the Elizabeth Hill high-grade silver mineralisation down-dip and plunge of the historical Elizabeth Hill silver mine. This program represents the first systematic test of the Company's structural model that suggests high-grade silver mineralisation may repeat at depth along the Munni Munni Fault, which, if confirmed, could materially expand the scale of the Elizabeth Hill system beyond the historical mine. The DD program will specifically probe between and around historical drilling results along the Munni Munni Fault. Previous drilling intersected moderate to high-grade silver mineralisation, justifying follow-up to confirm depth potential, continuity, grade and distribution of intercepted zones. All holes are designed to intersect the Munni Munni Fault within approximately 200m of surface. Drilling is expected to take approximately four to six weeks, subject to weather and operational conditions. Assay results are anticipated to be received progressively through the Second Quarter 2026. Exploration Next Steps West Coast Silver is running multiple exploration programs from end of March to end of May 2026, comprising reverse circulation drilling, diamond drilling, borehole and surface geophysics. Focus through the next three months of exploration activities will be on processing, interpreting and reporting results, as well as dynamic repositioning of remaining planned drill holes to maximise chances of success from results received (geological, geophysical and assay results). Elizabeth Hill is historically one of Australia's highest grade silver projects and has a proven production history. High grades enabled low processing tonnes. A total of 1.2 Moz of silver was produced from just 16,830t of ore at a head grade of 2,194g/t (70.5 oz/t Ag). Mining operations ceased in 2000 as a result of low silver prices (USD 5). Simplistic historic processing techniques were used focussing only on native silver extraction. Native silver was recovered via low-cost gravity separation techniques. Untapped mineral resource expansion potential remains. The Elizabeth Hill deposit remains open at depth and along strike. Recent consolidation of the WCE tenement land holding offers potential to discover more Elizabeth Hill style deposits near mine and regionally. World leading silver grades located on a mining lease with potential processing option at the nearby Radio Hill site. Through the consolidation of surrounding land packages into a single contiguous 180km2 package, significant exploration and growth potential has been created near mine and regionally. The land package holds a significant portion of the Munni Munni fault system, and other fault systems subparallel to the Munni Munni fault system, which are considered prospective for Elizabeth Hill silver deposit analogues. 
