IOCA signs agreement with Anglo American for exclusive right to negotiate up to US$15m project funding and 100% offtake

Alien Metals Ltd (LSE AIM:UFO), a global minerals exploration and development company, is pleased to announce that it has, through its wholly-owned subsidiary Iron Ore Company of Australia Pty Ltd (“IOCA”), entered into a mandate letter providing for an exclusive right to negotiate project funding and offtake arrangements (“Mandate Letter”) with Anglo American (LSE: AAL; JSE: AGL), in relation to the Hancock iron ore project (“Hancock”) located in the Pilbara, Western Australia (Figure 1)