Two-phase Al--Si alloy foils are made directly from Al--Si alloy powders by hot pressing. These Al--Si alloy foils are characterized by having a thickness of 0.017 in. or less, and by the fact that they are fine-grained and substantially free of oxygen, nitrogen and deformation-induced defects. The as-pressed Al--Si foils where the primary phase is the Al solid-solution phase are also generally ductile and adapted for subsequent forming operations, including cold rolling. The reduction in thickness imparted in a single pass to an Al-11.6Si alloy foil through cold-rolling was at least about 10%, with up to about 90% reduction in thickness accomplished by a plurality of such passes. These reductions in thickness were accomplished without stress relief annealing, but such annealing may be employed if desirable for microstructural modification.