Announcement • Aug 15
Alien Metals Limited Announces its Joint Venture Partner in Elizabeth Hill Silver Project, West Coast Silver Limited Receives Further Assay Results for Elizabeth Hill North and Elizabeth Hill Deeps Diamond Drill Programs Alien Metals Limited announced that its joint venture partner in the Elizabeth Hill Silver Project ("Elizabeth Hill"), West Coast Silver Limited has received further assay results for the Elizabeth Hill North and Elizabeth Hill Deeps diamond drill programs. Diamond drilling intersects 67.1m @ 19 g/t Ag from surface (26WCDD036) in a broad near-surface silver zone extending west of the current Elizabeth Hill Mineral Resource Estimate (MRE) block model, including internal higher-grade zones of 12.3m @ 22 g/t Ag from 24.7m down hole and 10.9m @ 24 g/t Ag from 43.9m down hole. Further significant intersections =10 g/t Ag include 48.5m @ 19 g/t Ag from 1.5m down hole (26WCDD035), including 25.5m @ 23 g/t Ag from 16m, and 24m @ 14 g/t Ag from 35.5m down hole (26WCDD033), including 2.7m @ 22 g/t Ag from 35.5m. Diamond holes 26WCDD031-036 have infilled and extended the mineralised zone at Elizabeth Hill North, confirming broad zones of low to moderate grade silver within, below, north and west of the current MRE block model. This near-surface zone is interpreted to sit around the known high-grade silver system, remains open, and has potential to add volume and contained metal to the current MRE. At Elizabeth Hill Deeps, minor silver mineralisation in 26WCDD030 constrained the northern extent of the newly identified high-grade zone, which remains open to the east and south. Final diamond core assays (26WCDD037-39) are expected by the end of August 2026. Results will feed an updated JORC 2012 MRE in Fourth Quarter 2026 and the Elizabeth Hill Scoping Study, also commencing Fourth Quarter 2026. Further step-out and infill diamond drilling is planned for the second half of 2026 to follow up first half successes, advance conversion of Inferred to Indicated resources, and continue defining the new high-grade zone below historical mining. Diamond drill holes confirm and expand the broad zone of mineralisation defined by earlier RC drilling with low to moderate grade silver mineralisation both within and west of the MRE block model. Silver mineralisation is hosted in intensely silica-altered granite and quartz-carbonate veins within the Munni Munni Fault Zone (MMFZ). The broad zone of shallow silver mineralisation, within and west of the MMFZ, has the potential to add volume to the April 2026 MRE mineralised zone. The mineralised system remains open in all directions. Significant assay results are summarised in Table 1. Diamond drill hole 26WCDD030 was drilled targeting the potential continuation of high-grade silver mineralisation intersected in historical drilling from underground to the east and below the Elizabeth Hill Mine workings (UGD084, 7m @ 607g/t Ag from 57m; including 2m @ 1,995g/t Ag from 61m) and 26WCDD029 (3m @ 524g/t Ag from 183m; including 1.5m @ 1,039g/t Ag from 184.5m). 26WCDD030 intersected the granite-ultramafic contact at a shallow depth and continued within granite until the end of the hole at 275.5m depth. Only minor silver mineralisation (less than 10 g/t Ag) was returned from 26WCDD030 drill core passing 8m to the east of and below the historical UGD084 intersection. The minor silver mineralised intersection in 26WCDD030 aligns with a newly interpreted, subvertical, northwest trending fault splaying off the MMFZ. The EH Deeps mineralised zone comprises a 50m long north-south, sub-horizontal, silver mineralised trend at depth of 140m to 150m below surface. This zone also includes a historical intersection of 4m @ 223g/t Ag from 190m in historical surface RC drill hole AG336, as well as other anomalous drill intersections with silver in the 5-50g/t Ag range from surface and underground drilling. This mineralised trend is on the contact between granite and ultramafic rocks that sit to the east and are offset from the main MMFZ. The EH Deeps zone is open to the east and south of the current drill intersections. Previous drilling in this area has targeted the vertical MMFZ, resulting in the EH Deeps mineralised zone and newly interpreted fault splay being inadequately tested. The Elizabeth Hill Silver Project is one of Australia’s highest-grade silver projects, based on historical production grades, and having a proven production history. High grades enabled historical low ore 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/oz). Simple historical 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. 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 • Aug 01
West Coast Silver Limited Completes Diamond Drilling At the Elizabeth Hill Silver Project West Coast Silver Limited completed 14 diamond drill holes for 2,015.7m at the Elizabeth Hill Silver Project in the Pilbara, Western Australia. The program tested deeper targets beneath the mine, completed follow-up drilling north and west of the current Mineral Resource Estimate (MRE), and undertook infill drilling within the Elizabeth Hill MRE block model (released April 2026). Previously reported diamond core assays included significant silver intercepts of 3m @ 524g/t Ag from 183m, including 1.5m @ 1,039g/t Ag from 184.5m in 26WCDD029. All samples were submitted to ALS Geochemistry Perth for assay. All assay results are expected to be returned in August 2026. Results will support an updated JORC (2012) Mineral Resource Estimate (MRE) and provide the basis for economic studies to evaluate potential development options. Further diamond drilling to follow up on the successes of the H1 2026 diamond drilling program is planned for H2 2026. In total, 14 holes were completed for 2,015.7m of drilling that aimed to expand the existing footprint of the Elizabeth Hill high- and low-grade silver mineralisation. The diamond drilling tested the Company’s structural model proposing that high-grade silver mineralisation may repeat further along the Munni Munni Fault and deeper, with potential to materially expand the scale of the Elizabeth Hill mineral system beyond the historical mine. All holes were designed to intersect mineralisation within and around the Munni Munni Fault Zone (MMFZ) at depths of up to 200m from the surface. The drilling encompassed deeper target testing beneath the mine; infill and step-out drilling; follow-up on prior reverse circulation (RC) percussion drill results to the north and west of the MRE mineralised envelope; and additional infill drilling within the MRE block model. All samples have been submitted for assay with the ALS Geochemistry laboratory in Perth. Assay results are anticipated to be received by the end of August 2026. The fourth diamond hole to be drilled (26WCDD029) as part of the Elizabeth Hill Deeps drilling program successfully intersected 3m @ 524g/t Ag from 183m, including 1.5m @ 1,039g/t Ag from 184.5m, indicating a new sub-horizontal zone of mineralisation below historically mined areas. While this is not the initial hole drilled into this zone, its significance lies in being the ‘discovery’ hole that has provided essential context for the two earlier historical holes, which were previously regarded as isolated intercepts. Drilling was completed in early July, after which the drill rig and crew were demobilised. Elizabeth Hill is historically one of Australia’s highest grade silver projects, with a proven production history and significant untapped potential. Demonstrated high-grade production: 1.2Moz of silver was produced from just 16,830t of ore at a head grade of 2,194g/t (70.5 oz/t Ag), demonstrating the exceptional grade of the deposit. Previous mining ceased in 2000 due to low silver prices (USD 5). The current silver price environment is materially higher than when mining ceased in 2000. Low-cost processing potential: Historical silver recovery was achieved via gravity separation, a low-cost technique well-suited to the deposit's native silver mineralisation. Resource growth potential: The deposit remains open at depth and along strike. Consolidation of the surrounding land package into a single contiguous 180km² holding provides additional opportunity to discover further Elizabeth Hill-style deposits. Strategic location and infrastructure: The project is in the world-class West Pilbara mining jurisdiction with a granted mining lease, and an MOU with Artemis Resources Ltd. to evaluate the Radio Hill processing facility as a potential treatment option for Elizabeth Hill material. Through the consolidation of surrounding land packages, a significant portion of the Munni Munni Fault System and subparallel structures are now within WCE’s tenement holding, all considered prospective for Elizabeth Hill-style silver mineralisation. Announcement • Jul 11
West Coast Silver Limited Elizabeth Hill High-Grade Silver Discovery West Coast Silver Limited received results from diamond drilling with high-grade silver and base metal intersections. The Company has also received significant assay results for the last 15 of 32 reverse circulation (RC) drill holes completed in May 2026 at the Elizabeth Hill Project (WCE 70%, Alien Metals 30%), located near Karratha in the Pilbara region of Western Australia. The 32 RC hole program (2,710m) targeted silver mineralisation north of the April 2026 maiden Mineral Resource Estimate (MRE), with results to date indicating significant extensions beyond the current resource envelope. Diamond drilling continues to test for extensions to, and infill of, the MRE, while economic studies of near-surface mineralisation are progressing towards a Scoping Study. Diamond drill hole 26WCDD029 was drilled targeting the potential continuation of high-grade silver mineralisation intersected in historical drilling from underground to the south and below the Elizabeth Hill Mine workings (UGD084: 7m @ 607g/t Ag from 57m2; including 2m @ 1,995g/t Ag from 61m3). 26WCDD029 intersected 3m @ 524g/t Ag from 183m; including 1.5m @ 1,039g/t Ag from 184.5m downhole depth. This intersection is 12m to the south of the UGD084 intersection. These drill intersections form part of a 50m long north-south, sub-horizontal, mineralised trend at depth beneath the mine workings that also includes a historical intersection of 4m @ 223g/t Ag from 190m in drill hole AG33, as well as other anomalous drill intersections with silver in the 5-50g/t Ag range. This mineralised trend is on the contact between granite and ultramafic rocks that sit to the east, and offset, from the main Munni Munni Fault Zone (MMFZ). Previous drilling has concentrated on testing the vertical MMFZ in this area and as a result this target trend is poorly drilled with most of the holes passing above this sub-horizontal trend to penetrate the MMFZ to the west. Controls on this trend are poorly constrained. There is potential for more mineralisation hosting/controlling, structural splays sub-parallel to the MMFZ intersecting the granite-ultramafic lithology contact east of the main MMFZ. Where hole 26WCDD029 passed through the MMFZ at depth it did not encounter any significant silver mineralisation. Other deep drilling around the MMFZ in holes 26WCDD026 and 26WCDD028 returned intersections anomalous in silver within the MMFZ. The most significant of these was 1m @ 18g/t Ag from 210m in hole 26WCDD026. 26WCDD028 did not return any significant assay results. 26WCDD026 was drilled to test the MMFZ at depth south of the mine workings, and is the southernmost hole drilled by WCE to date. 26WCDD028 was drilled to test the MMFZ at depth beneath the mine workings. Hole 26WCDD027 was drilled to target the borehole electromagnetic (BHEM) conductivity anomaly modelled from the BHEM survey conducted in hole 25WCDD025 in April this year. It did not intersect any significant mineralisation to explain the conductivity model. However, the hole did intersect a broad section of anomalous copper (individual assays ranging from 0.11% to 0.45%), coincident with trace sulphides in ultramafic rocks from 34m to 56m downhole depth. Drill hole 26WCDD029 also intersected massive sulphides from 154.87m with 0.45m @ 2.73% Ni, 0.93% Cu and 0.7g/t Pd, hosted in ultramafic lithologies within the basal Munni Munni Intrusive Complex (MMIC) igneous suite. Historical underground drill hole UGD085 in this area intersected sulphide mineralisation (1m @ 2.33% Ni, 0.6% Cu from 52m4) also within ultramafic rocks on the contact with the granite. These intersections are in the vicinity of the BHEM conductivity anomaly identified in 25WCDD025 that was remodelled with information from 26WCDD027. This strongly suggests the conductivity feature relates to similar sulphides in ultramafic rocks of the MMIC. 
