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Conditionally secure JV Partner for Silver Project
Conditionally secure JV Partner for Silver Project.
About this update from Alien Metals Ltd
[{"type":"text","content":"\n\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (596/2014/EU) AS THE SAME HAS BEEN RETAINED IN UK LAW AS AMENDED BY THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.\n \n \n \n \n \n\nTrading Symbols\nAIM: UFO\nFWB: I3A1\n\n\n24 March 2025\n\nAlien Metals Limited\n \n(\"Alien\" or the \"Company\")\n \nAlien Metals conditionally secures Joint Venture partner for West Australian Silver Project\nAlien Metals Limited (AIM: UFO), a minerals exploration and development company, is pleased to announce that it has entered into a conditional joint venture agreement with Errawarra Resources Ltd (ASX: ERW) (\"Errawarra\") (the \"JV Agreement\") in respect of the Elizabeth Hill Silver Project and surrounding tenements totalling 180km² located in the West Pilbara (\"Elizabeth Hill\"), and certain rights to explore for, and mine, silver from the Pinderi Hill tenements (the \"Project\").\nHighlights\nAs more fully described below, subject to Errawarra, inter alia, completing due diligence on the Project to its sole satisfaction, completion of a capital raise by Errawarra and receipt of requisite Errawarra shareholder approvals for both the capital raise and issue of the Consideration Shares (as defined below):\n· Errawarra, via its wholly owned subsidiary, Crest Silver Pty Ltd (\"Crest\"), will acquire a 70% interest in the Elizabeth Hill tenement (M47/342) (the \"Elizabeth Hills Assets\") as well as 70% of the rights to explore for, and mine, silver from the Pinderi Hill tenements (the \"Pinderi Hill Assets\", and together with the Elizabeth Hill Assets, the \"Assets\") (the \"Transaction\").\n· Alien, via its wholly owned subsidiary, A.C.N. 643 478 371 Pty Ltd, will enter into a joint venture agreement with Crest to facilitate the exploration of the potential silver-bearing Elizabeth Hill Assets (the \"Elizabeth Hill JV Agreement\"), whilst Alien, vi...