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REG - Alien Metals Limited - Native Title Agreement for Hancock Project

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RNS Number : 8118W  Alien Metals Limited  14 December 2023

 

Trading Symbols

AIM: UFO

FWB: I3A1

14 December 2023

 

 

Alien Metals Ltd

("Alien" or "the Company")

 

Iron Ore Company of Australia executes Native Title Project Mining Agreement
for Hancock Project

 

Alien Metals Ltd (AIM: UFO), a minerals exploration and development company,
is pleased to announce its subsidiary company Iron Ore Company of Australia
("IOCA") has signed a Mining Agreement with the Karlka Nyiyaparli Aboriginal
Corporation RNTBC ("KNAC") for its 90% owned Hancock Iron Ore Project
("Hancock Project"), in the Pilbara Region, Western Australia.

Highlights:

·   The Nyiyaparli native title determination spans the Hancock Project and
associated tenements. KNAC is the registered native title body corporate for
the Nyiyaparli native title determination.

·   Collaborative relationships between the Company and the Nyiyaparli
People have been established through the negotiation process.

·   In exchange for native title consents to the grant of Project Tenure,
the Mining Agreement includes milestone and ongoing royalty payments to be
paid to a trust for the benefit of Nyiyaparli People; agreed management
measures relating to Aboriginal Cultural Heritage, the environment, land
access, employment, training & contracting, cultural awareness training,
and the establishment of an Implementation Committee to provide a forum for
ongoing consultation between the parties during the Hancock Project
operations.

·   The Project Mining Agreement agreed with KNAC should pave the way for
the granting of mining lease M47/1633 at the Hancock Project and is a key
milestone on the pathway towards the development of Hancock Project.

Troy Whittaker, Chief Executive Officer commented:

"The Company and its Board would like to again thank the Karlka Nyiyaparli
Aboriginal Corporation and its Board of Directors for their support in
reaching this significant milestone. We are delighted to have finalised the
Mining agreement and we look forward to the ongoing relationship with the
Nyiyaparli People."

"Signing of the Mining Agreement is a significant milestone for the Company,
which means the project is now substantially de-risked and will support the
next phase of development and approvals required for the Hancock Project,
which includes the submission of the mining proposal for the project."

 

Further Information

Figure 1: Location of the Company's Iron Ore Projects, Western Australia

Figure 2: Hancock Project Tenements

Further Information

IOCA and KNAC engaged in a process of informed negotiation and consultation
and have entered into the Project Mining Agreement for the purposes of:

·   Facilitating on-going engagement between KNAC and IOCA in relation to
the conduct of Project Operations;

·   Maximising opportunities for the Nyiyaparli People to participate in
Project Operations;

·   Ensuring the impacts of Project Operations on Aboriginal cultural
heritage and the environment are avoided or minimised and mitigated;

·   Sharing the benefits of, and compensating the Nyiyaparli People for the
effect on the exercise of native title of the grant of Project Tenure, the
conduct of Project Operations and the issue of Project Approvals;

·   Recording the terms of the Nyiyaparli Peoples' consent to the grant of
Project Tenure, the conduct of Project Operations and the issue of Project
Approvals.

Key terms of the Project Mining Agreement:

o  Term: The Project Mining Agreement commences on the date signed and is
intended to continue until the date of the surrender or expiry of the last of
the Project Tenure.

o  Consents: Provision of native title consents, including in relation to the
grant of M47/1633, and release from native title compensation liability.

o  Aboriginal heritage: Agreed Aboriginal heritage management measures,
including the development of a Cultural Heritage Management Plan.

o  Environmental management: Agreed processes for consultation and
communication about environmental approvals.

o  Access: Measures to ensure appropriate continued access to the land by
native title holders.

o  Employment, training & contracting: Measures designed to promote
employment of Nyiyaparli people and contracting of Nyiyaparli businesses.

o  Cultural awareness training: Training to build understanding and
appreciation of Nyiyaparli culture and heritage.

o  Engagement: Establishment of a joint Implementation Committee to provide a
forum for ongoing consultation during Hancock Project Operations.

o  Costs & financial benefits: The Company will make various payments on
meeting certain licencing and production hurdles, with annual administration
payments and a quarterly royalty payment of 0.9% of royalty value in relation
to iron ore sold which is extracted from the relevant tenements and will cover
various costs incurred by KNAC in connection with the agreement.

o  Technical & legal: The agreement includes clauses around default,
dispute resolution, confidentiality and assignment.

 

For further information please visit the Company's website
at www.alienmetals.uk (https://www.alienmetals.uk/) or contact:

 

Beaumont Cornish Limited (Nomad)

James Biddle / Roland Cornish   Tel: +44 (0) 207 628 3396

 

WH Ireland Ltd

Harry Ansell / Katy Mitchell   Tel +44 (0) 207 220 1666

 

Yellow Jersey PR (Financial PR)

Charles Goodwin / Shivantha Thambirajah / Soraya Jackson   Tel: +44 (0) 20
3004 9512

alienmetals@yellowjerseypr.com (mailto:alienmetals@yellowjerseypr.com)

 

Market Abuse Regulation (MAR) Disclosure

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the Company's obligations under Article 17 of
MAR.

Notes to Editors:

Alien Metals Ltd is a mineral exploration and development Company listed on
the AIM market of the London Stock Exchange (LSE: UFO). The Company's focus is
on delivering a near term direct shipping iron ore operation at the Hancock
Project in the Pilbara region of Western Australia.

In 2019, the Company acquired 51% of the Brockman and Hancock Ranges
high-grade (Direct Shipping Ore) iron ore projects and in December 2022 moved
to 90% legal and beneficial ownership. In May 2023, the Company also acquired
100% of Mallina Exploration Pty Ltd and with it, the Western Hancock Tenement.
The new tenement adjoins the Company's existing Hancock tenement, giving the
entire Hancock project direct access to the Great Northern Highway.

The Company also acquired 100% of the Vivash Gorge Iron Ore project in the
west Pilbara in July 2022.

The Company owns 100% of the Elizabeth Hill Silver Project, which consists of
the Elizabeth Hill Historic Mining Lease and the 115km(2) exploration tenement
around the mine.

In March 2022 the Company acquired 100% of the former joint venture interest
in the broader Pinderi Hills tenement group in the West Pilbara, Western
Australia. This includes the Munni Munni Platinum Group Metals Project, one of
Australia's major underexplored PGE and base metals projects. Munni Munni
holds a historic deposit containing 2.2Moz 4E PGM: Palladium, Platinum, Gold,
Rhodium. The Pinderi hills tenement group also has significant Nickel and
Copper prospectivity.

The Company also holds silver, copper and base metal projects in Mexico,
however is currently looking at the best way to divest these for the benefit
of shareholders.

 

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