Yes. It's a bit tricky to think about, because while it is literally called 'noalias', what it actually means is more subtle. I already linked to a version of the C spec below, https://www.open-std.org/jtc1/sc22/wg14/www/docs/n3220.pdf but if anyone is curious, this part is in "6.7.4.2 Formal definition of restrict" on page 122.

In some ways, this is kind of the core observation of Rust: "shared xor mutable". Aliasing is only an issue if the aliasing leads to mutability. You can frame it in terms of aliasing if you have to assume all aliases can mutate, but if they can't, then that changes things.