Alien Metals Regulatory News (UFO)

Alien Metals Limited - Exploration Update

PR Newswire

London, August 6

 Trading Symbols

AIM: UFO

FWB: I3A1

6 August 2019

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

Exploration Update

Alien Metals Limited, the AIM quoted mining exploration and development company, is pleased to announce an exploration update for its wholly owned Donovan 2, Los Campos and San Celso concessions in Zacatecas State, Mexico.

Highlights

Dan Smith, Chairman of Alien commented, “Given the increase in the silver price during 2019, the timing for a potential farm-out or joint-venture in respect of the Los Campos and San Celso projects is increasingly attractive. These short sampling programmes enrich and corroborate historic data, ensuring the Company is well-prepared to advance these projects. We will provide an update following receipt of the assay results, likely to be during the course of August.”

Donovan 2

A ground mapping and sampling programme was commissioned during July 2019 to follow-up on previous work, and in particular as an initial effort to seek evidence to help localise the source of the float sample that returned 0.45 g/t Gold (“Au”) from the south western area of the concession coincident with the ground magnetic high in that same location.

This follow-up sampling work has resulted in 10 samples being taken and submitted to the lab for analysis.

Finalisation of planning for the proposed induced polarity (IP) survey over the central ground magnetic anomaly along with surface sampling indicating this target to hold potential for Volcanic Massive Sulphide (VMS) type mineralisation, as identified in the announcement of 29 April 2019, is in the final stages and this work is intended to be carried out in the near future.

The results of the samples, together with the ongoing detailed review of historic data will inform the next phase of exploration at Donovan 2.

The locations of samples taken at Donovan 2 during July 2019 are set out here:

http://www.alienmetals.uk/assets/img/190806_figure1.jpg

Los Campos

Previous exploration activity at Los Campos highlighted the high-grade silver potential of the Los Campos project, which features a historic mine within the concession boundary.

As proposed in the Company announcement of 27 June 2019, during July 2019, Alien’s technical team carried out a surface mapping and sampling programme to corroborate earlier sampling and mapping of the area, to enrich the Company’s knowledge of the project, and to inform future exploration at Los Campos. This work resulted in 50 samples being collected from in-situ outcrops, entrance to old workings, float and historic waste/ore dumps.

Alien believes there is potential for the historically mined veins to continue at depth below the historic workings as well as having strike extensions.

The locations of samples taken at Los Campos during July 2019 are set out here:

http://www.alienmetals.uk/assets/img/190806_figure2.jpg

San Celso

Previous exploration programmes at San Celso have highlighted the high-grade silver potential of the San Celso project with samples including up to 500g/t Ag, 0.3g/t Au, 13,700ppm Pb, and 13,900ppm Zn.

Surface mapping and sampling program was conducted in July 2019 by the Alien Metals technical team to corroborate earlier reconnaissance and mapping of the area and aiming to combine with all the historic data available with this new data to allow a full review of the potential and next step work plans.

Historically mined veins at San Celso are believed to continue below the historic workings as well as having strike extensions.

At San Celso 38 samples were collected from in-situ outcrops, entrance to old workings, float and historic waste/ore dumps to improve the Company’s knowledge base of the open veins and to begin to collect evidence to support the presence of vein extensions.

The locations of samples taken at San Celso during July 2019 are set out here:

http://www.alienmetals.uk/assets/img/190806_figure3.jpg

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.

Qualified Person

The information in this report that relates to exploration targets, exploration results, and other information of a technical nature has been reviewed by Dr Lex Lambeck Ph.D, a technical consultant to the Company. Dr Lambeck is a Member of the American Institute of Professional Geologists and a Certified Professional Geologist, CPG-11734, with over 15 years of relevant experience in exploration and assessment of resource projects.

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.