Alien Metals Regulatory News (UFO)

Alien Metals Limited - Due Diligence Update

PR Newswire

London, October 28

Trading SymbolsAIM: AGQFWB: I3A1

29 October 2019

Alien Metals Ltd(“Alien” or “the Company”)

Due diligence update, iron ore projects in the Pilbara, Western Australia

Alien Metals Limited (“Alien” or the “Company”), the AIM quoted mineral exploration and development company, is pleased to provide shareholders with an update on its due diligence on the Hancock Ranges and Brockman iron ore projects, over which the Company has an exclusive option to acquire 51% (see the Company’s announcement dated 20 September 2019 for further information on these projects).

Technical due diligence

Alien and its technical consultants carried out a detailed review of the available historical information in relation to the licenses to identify a number of prospective areas, which have been visited and inspected over the last week. The site visit will enable a more detailed geological interpretation of prospective iron mineralised formations. Numerous samples were taken from these prospective areas and despatched back to Perth, Western Australia, for assaying by an independent laboratory.

In addition, it is intended to identify and map the drill-hole collars from historic exploration programmes.

New project opportunities

In addition to the due diligence being undertaken on the Hancock Ranges and Brockman iron ore projects, the Company is reviewing additional acquisition opportunities in the precious metals space which are complementary to Alien’s existing portfolio of assets in Mexico.

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

Notes to Editors

Alien Metals Ltd is an AIM quoted mining exploration and development company. Since the recomposition of the Board and company name change in 2018, Alien has focused on delivering its strategy of acquiring mining projects which demonstrate significant development upside, in jurisdictions with established infrastructure and mining codes, and where strong operational controls can be assured.

In addition to progressing its acquisition-led strategy, following the strategic review of its portfolio of projects in Mexico during 2018-19, the Company has identified exploration targets across its 12 mining concessions in Zacatecas, Mexico, which it is working to advance systematically.

Forward-Looking Information

This press release contains certain “forward-looking information”. All statements, other than statements of historical fact that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future are deemed forward-looking information.

This forward-looking information reflects the current expectations or beliefs of the Company based on information currently available to the Company as well as certain assumptions, including the availability of sufficient funds. Forward-looking information is subject to a number of significant risks and uncertainties and other factors that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realised or substantially realised, there can be no assurance that they will have the expected consequences to, or effects on the Company.

Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.