Alien Metals Boosts Minerals Portfolio as GreenTech Reports Key PGE-Copper Discoveries in Western Australia

Phase 1 Munni Munni Drilling Confirms Mineralisation and Enhances Resource Potential

GreenTech Metals' Phase 1 drilling at the Munni Munni PGE-Copper-Nickel Project has yielded encouraging results that support further development of this significant Western Australian mineral asset. The drilling identified new, thicker zones rich in platinum group elements, copper, and nickel, validating the project's prospectivity. Results were strengthened by twin hole drilling and core resampling, confirming and extending previous drilling interpretations. This rigorous approach reduces geological and technical risks by independently verifying earlier exploration data.

The discovery of thicker mineralised zones is crucial for resource economics, as greater thickness can improve mining and processing efficiencies. GreenTech is advancing a JORC (2012) Mineral Resource Estimate focused on copper-dominant domains at Munni Munni, alongside metallurgical testwork aimed at developing a primary copper-PGE concentrate. These efforts are key to supporting future feasibility assessments and demonstrate a structured approach to advancing the asset toward potential development.

Geochemical Review Uncovers New 5-Kilometre Copper Anomaly, Initiates Government-Supported Electromagnetic Surveys

Post-June quarter, an independent geochemical review of Munni Munni identified a significant 5 km by 2 km copper anomaly and discrete high-priority exploration targets near the base of the Munni Munni intrusion. This discovery opens new exploration opportunities within the existing project area, suggesting potential for additional mineralised systems beyond the main deposit. The copper anomalies at the intrusive contact align with magmatic nickel-copper-PGE systems, warranting systematic follow-up to determine the extent of undiscovered mineralisation.

To efficiently test these targets, government co-funded Fixed Loop Electromagnetic (FLEM) surveys have commenced at Munni Munni. These surveys aim to detect conductors indicative of massive sulphide accumulations, which typically contain high-grade nickel, copper, and PGE mineralisation. Government co-funding reflects institutional confidence in the project's potential and reduces GreenTech's exploration costs. Follow-up drilling is planned to test conductor targets identified by FLEM, following a methodical exploration sequence prioritising the most prospective zones ahead of resource expansion drilling.

Upcoming Drilling Campaign Totals 8,310 Metres Across Munni Munni and Whundo Projects

GreenTech has launched a major drilling program targeting both the Munni Munni PGE-Copper-Nickel Project and the adjacent Whundo Copper-Zinc-Gold Project in Western Australia. The program comprises approximately 4,750 metres of reverse circulation drilling and 3,560 metres of diamond drilling, totaling 8,310 metres. This extensive drilling effort underscores a strong commitment to resource definition and exploration across GreenTech's Western Australian assets.

Initial drilling will focus on existing cleared drill pads to optimise operational efficiency and minimise environmental permitting delays. A heritage survey is scheduled for 10 August 2026 to secure cultural heritage clearances for additional drill sites. This phased approach ensures compliance with Western Australian Aboriginal heritage requirements and supports responsible community engagement. The scale of the campaign indicates GreenTech's intent to significantly advance resource definition and test new exploration targets during the current field season.

Enhanced Technical Team and A$7.5 Million Placement Secure Project Advancement Funding

GreenTech Metals has bolstered its technical team with recent appointments of Heida Mani and Rachel Backus to its exploration and development divisions. The company remains fully funded following an A$7.5 million placement, providing capital for planned drilling and resource estimation activities. Adequate funding and experienced personnel are vital for professional mineral exploration and resource development. The placement reflects investor confidence in GreenTech's strategic direction and the potential of its Western Australian portfolio.

The timing of the capital raise aligns with the commencement of significant fieldwork, ensuring operational continuity during critical resource definition phases. The strengthened team aims to accelerate technical delivery across exploration, resource estimation, and metallurgical testing. These operational and governance enhancements reduce execution risk and support progression toward potential pre-feasibility or feasibility studies.

Alien's 30% Free-Carried Interest Offers Exposure to Munni Munni Without Funding Obligations

Alien Metals' 30% interest in Munni Munni is structured as a free-carried interest through to the completion of a bankable feasibility study. This arrangement means Alien is not required to contribute financially to exploration, resource definition, or pre-feasibility work, preserving capital for advancing other projects. The carried interest aligns incentives between project operator GreenTech and non-operating partner Alien, granting Alien meaningful exposure while allowing GreenTech to manage technical decisions and expenditures during exploration and development.

Additionally, Alien holds 37.9 million shares in GreenTech Metals, equating to roughly a 10% stake. This equity position provides exposure to value creation as GreenTech advances Munni Munni and the adjacent Whundo project. The combination of a free-carried joint venture interest and significant equity holding offers Alien dual exposure to project success and optionality for future participation in development or monetisation. Historically, Munni Munni is among Australia's largest platinum group metal systems, with a historic resource estimate of 2.2 million ounces of palladium, platinum, rhodium, and gold, underscoring the scale of mineralisation.

Hancock Iron Ore Project Features 8.4 Million Tonne Resource and 10-Year Production Plan in Pilbara

Alien Metals owns 90% of the Hancock Iron Ore Project in Western Australia's central Pilbara, a globally significant iron ore region. The project holds a JORC (2012)-compliant resource of 8.4 million tonnes at 60% iron, representing a substantial mineral inventory suitable for economic evaluation and mine planning. The project targets a mining operation producing 2 million tonnes per annum over a 10-year mine life, implying total ore extraction of approximately 20 million tonnes. Hancock benefits from direct access to the Great Northern Highway, facilitating logistics to Port Hedland, one of the world's largest iron ore export hubs, enhancing cost competitiveness and market access.

The iron ore market has experienced volatility driven by Chinese demand cycles and global steel production trends. Pilbara projects with established infrastructure and JORC resources are well-positioned within Australia's mature supply chain. Alien also holds exploration interests in the Brockman and Vivash iron ore projects in the West Pilbara, providing exposure to grassroots exploration in a prolific mining province. This strategic focus positions Alien to benefit from potential supply cycles and commodity price appreciation, subject to development and financing decisions.

Georgina Basin IOCG Project Spans 2,500 km² with Elevated Copper and Uranium Indicators

Alien Metals holds 100% ownership of the Georgina Basin IOCG Project, covering approximately 2,500 square kilometres in the East Tennant province of the Northern Territory. The project targets iron oxide copper-gold mineralisation systems, a major class of large-scale, economically significant deposits. Prior exploration confirmed IOCG potential through elevated pathfinder elements including copper, bismuth, silver, and uranium in drilling samples. These indicators suggest the tenement package is prospective for concealed mineralised systems suitable for systematic drilling and geochemical targeting.

The project includes three drill-ready gravity anomalies yet to be adequately tested by deep drilling. Gravity anomalies are a cost-effective method to identify blind mineralised bodies and structural features associated with IOCG systems. These undrilled targets represent a structured exploration pipeline Alien can advance as capital and operational capacity allow. IOCG deposits are notable for size and grade, positioning the Georgina Basin project as a longer-term value opportunity within Alien's portfolio.

Elizabeth Hill Silver Project and West Coast Silver Shares Provide Direct and Indirect Precious Metals Exposure

Alien Metals maintains a 30% joint venture interest in the Elizabeth Hill Silver Project through a wholly owned subsidiary, partnered with Crest Mining. The project includes the Elizabeth Hill Mining Lease M47/342, historically one of Australia's highest-grade silver producers in the late 1990s. Historical production confirms substantive silver mineralisation capable of supporting economic mining operations. This history supports confidence in re-evaluating, defining resources, and potentially redeveloping the asset under modern standards.

In addition to its joint venture interest, Alien holds 30.5 million shares in West Coast Silver Limited, providing indirect exposure through the operating company and equity participation in potential upside from project development or mining success. This dual structure of direct joint venture and significant equity aligns with Alien's strategy to maintain operational influence and financial upside in select mineral assets. Silver markets have shown volatility and strength amid industrial demand growth and macroeconomic uncertainty, offering diversification beyond iron ore and PGE-copper assets.

Disciplined Portfolio Strategy Balances Asset Growth with Capital Efficiency and Selective Expansion

Alien Metals pursues a balanced strategy focused on advancing its mineral assets through targeted technical and project development activities while exploring partnerships, joint ventures, and selective monetisation to enhance shareholder value. This approach maintains exposure to multiple commodities and regions while managing capital and operational complexity. The free-carried interest in Munni Munni exemplifies this by providing significant exposure with limited capital commitment during exploration and development.

The company continues to evaluate selective acquisition opportunities aligned with the Board's disciplined investment criteria. The minerals sector's recent consolidation and portfolio rationalisation have created chances to acquire strategic assets at competitive valuations. Alien's openness to acquisitions, combined with its existing diverse portfolio and staged development projects, positions it to capitalize on market cycles and create shareholder value through organic growth and selective expansion.