Alien Metals Limited - Conversion of loan and issue of equity

                                                                                                                          Alien Metals                                                                                       Trading Symbols

AIM: UFO

FWB: I3A1

10 April 2019

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

Conversion of loan and issue of equity

Alien Metals Ltd, the AIM quoted exploration and development company, reports today that pursuant to the convertible loan agreement entered into on 26 February 2019 (“CLA”), the Company has today issued 202,247,000 units to Gravner Ltd at a price of 0.1 pence each, in full settlement of the subsisting convertible loan (announced by the Company on 27 February 2019), of £202,247 (being a principal amount of £200,000 and interest thereon).

Each unit comprises one new Common share of no par value (“Common Shares”), and one share purchase warrant exercisable at a price of 0.15 pence until 31 January 2022.

This conversion extinguishes all amounts outstanding under the CLA. £300,000 remains available, to be drawn down exclusively at the Company’s discretion, under the terms of the CLA.

Application will be made to the London Stock Exchange plc for 202,247,000 new Common Shares to be admitted to trading on AIM with admission expected to occur on or around 15 April 2019.

The new Common Shares rank pari passu in all respects with the existing Common Shares including the right to receive any dividend or other distribution thereafter declared, made or paid.  There are no Ordinary Shares held in treasury. Therefore, the total number of voting rights in the Company, following the issue of 202,247,000 new Common Shares will be 918,389,941.

Following this issuance of shares, Gravner Ltd is interested in 22.02% of the Common Shares of the Company.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

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

Alien Metals Limited Dennis Edmonds, Executive Chairman David Taylor, Company Secretary Tel: [phone]	Yellow Jersey PR Limited Felicity Winkles/Annabel Atkins Tel: [phone]
Beaumont Cornish Limited (Nomad) James Biddle/ Roland Cornish www.beaumontcornish.com Tel: [phone]	First Equity Limited (Broker)         Jason Robertson  Tel [phone]

Notes to Editors

Alien Metals Limited 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, where strong operational controls can be assured.

In addition to its acquisition led strategy, the Board has commenced a strategic review of the Company’s established portfolio of silver exploration projects in Mexico covering an area of approximately 1,500 hectares, to identify opportunities for their development and/or monetisation.

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