Alkane Resources Limited

Alkane Resources - Group Resources and Reserves Statements FY25

PERTH, Australia, Oct. 15, 2025 (GLOBE NEWSWIRE) -- Alkane Resources Limited (Alkane) (ASX: ALK, TSX: ALK, OTC: ALKEF) is pleased to report that it has updated the Mineral Resources and Ore Reserves estimates for its assets in Australia and Sweden and, in doing so, has prepared a JORC Code¹ compliant Mineral Resources and Ore Reserves estimate for the Costerfield and Björkdal operations.

A Mineral Resources and Ore Reserves Statement for each asset (MROR Statements) is available below:

NSW: http://ml.globenewswire.com/Resource/Download/3f08ef36-3247-4de2-8a68-06b9bad0ef83

Costerfield: http://ml.globenewswire.com/Resource/Download/7cfe9471-a7cf-4381-9b3e-c12135edc853

Björkdal: http://ml.globenewswire.com/Resource/Download/0ba65fd8-0149-4160-af6e-11985311aecc

A summary of the Mineral Resources and Ore Reserves estimates for Alkane’s asset as at 30 June 2025 is presented below. Complete details for each estimate, as required by the ASX Listing Rules and the JORC Code, are set out in the MROR Statements.

Group Mineral Resources^2,3

Group Ore Reserves³

Alkane Managing Director, Nic Earner, said:

“Alkane’s consolidated resource and reserves show the strength of our business. We have three operating mines and a major project in Boda-Kaiser, giving us immediate production and a long term growth option. We have substantial capital expenditure occurring through the remainder of this financial year to continue to add to this resource base, particularly at Costerfield.”

This document has been authorised for release to the market by Nic Earner, Managing Director.

ABOUT ALKANE ‐ www.alkres.com ‐ ASX:ALK | TSX: ALK | OTCQX: ALKEF

Alkane (ASX:ALK; TSX:ALK; OTCQX:ALKEF) is an Australia-based gold and antimony producer with a portfolio of three operating mines across Australia and Sweden. The Company has a strong balance sheet and is positioned for further growth.

Alkane’s wholly owned producing assets are the Tomingley open pit and underground gold mine southwest of Dubbo in Central West New South Wales, the Costerfield gold and antimony underground mining operation northeast of Heathcote in Central Victoria, and the Björkdal underground gold mine northwest of Skellefteå in Sweden (approximately 750 km north of Stockholm). Ongoing near-mine regional exploration continues to grow resources at all three operations.

Alkane also owns the very large gold-copper porphyry Boda-Kaiser Project in Central West New South Wales and has outlined an economic development pathway in a Scoping Study. The Company has ongoing exploration within the surrounding Northern Molong Porphyry Project and is confident of further enhancing eastern Australia’s reputation as a significant gold, copper and antimony production region.

ANNEXURE A:

Group Mineral Resources as at 30 June 2025

* Apparent arithmetic inconsistencies are due to rounding

Competent Persons Statement

The information in this announcement relating to Tomingley and Boda Kaiser is based on the ‘NSW Resources and Reserves Statement FY25’ dated 15 October 2025. That document has been approved by Mr D Ian Chalmers, FAusIMM, FAIG, (Alkane Technical Advisor) who has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the JORC Code and as a Qualified Person as defined in the CIM Guidelines and National Instrument 43-101 – Standards of Disclosure for Mineral Projects (NI 43-101). Mr Chalmers has provided his prior written consent to the inclusion in this report of the Mineral Resources and Ore Reserves Statement in the form and context in which it appears.

The information in this announcement relating to Costerfield and Björkdal is based on the ‘Costerfield Resources and Reserves Statement FY25’ and ‘Björkdal Resources and Reserves Statement FY25’ both dated 15 October 2025. Those documents have been approved by Mr Chris Davis, who is a Member of the Australasian Institute of Mining and Metallurgy and a full-time employee of Alkane Resources Limited. Mr Davis has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the JORC Code 2012 and as a Qualified Person as defined in NI 43-101. Mr Davis has provided his prior written consent to the inclusion in this report of the Mineral Resources and Ore Reserves Statement in the form and context in which it appears.

Investors outside Australia should note that while Ore Reserve and Mineral Resource estimates of the Company in this announcement comply with the JORC Code 2012, they may not comply with the relevant guidelines in other countries.

Technical Reports released to the TSX or for TSX Market

Alkane has prepared the following NI 43-101 compliant technical reports which support the information contained herein, each of which is available under Alkane’s profile on SEDAR+ at www.sedarplus.ca:

• ‘Boda-Kaiser Copper-Gold Project, New South Wales, Australia’ with an effective date of June 6, 2025;
• ‘Tomingley and Peak Hill Gold Projects, NSW, Australia’ with an effective date of June 6, 2025.
• ‘Costerfield NI 43-101 Technical Report’ dated 28 March 2025, with an effective date of 31 December 2024; and
• ‘NI 43-101 Technical Report, Björkdal Gold Mine, Sweden’ dated 28 March 2025, with an effective date of 31 December 2024.

Reference should be made to the full text of the foregoing technical reports for the assumptions, qualifications and limitations relating to the Mineral Resource Estimates and Ore Reserves contained therein and herein. All material assumptions and technical parameters underpinning the estimates in the technical reports continue to apply and have not materially changed.

Cautionary Note Regarding Forward-Looking Information and Statements

This announcement contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation and may include future-oriented financial information or financial outlook information (collectively Forward-Looking Information). Actual results and outcomes may vary materially from the amounts set out in any Forward-Looking Information. As well, Forward-Looking Information may relate to: future outlook and anticipated events; expectations regarding exploration potential; production capabilities and future financial or operating performance, including AISC, investment returns, margins and share price performance; production and cost guidance and the timing thereof; issuing updated resources and reserves estimate and the timing thereof; the potential of Alkane to meet industry targets, public profile and expectations; and future plans, projections, objectives, estimates and forecasts and the timing related thereto.

Forward-Looking Information is generally identified by the use of words like "will", "create", "enhance", "improve", "potential", "expect", "upside", "growth" and similar expressions and phrases or statements that certain actions, events or results "may", "could", or "should", or the negative connotation of such terms, are intended to identify Forward-Looking Information.

Although Alkane believes that the expectations reflected in the Forward-Looking Information are reasonable, undue reliance should not be placed on Forward-Looking Information since no assurance can be provided that such expectations will prove to be correct. Forward-Looking Information is based on information available at the time those statements are made and/or good faith belief of the officers and directors of Alkane as of that time with respect to future events and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in or suggested by the Forward-Looking Information. Forward-Looking Information involves numerous risks and uncertainties. Such factors include, without limitation: risks relating to changes in the gold and antimony price.

Forward-Looking Information is designed to help readers understand Alkane’s views as of that time with respect to future events and speak only as of the date they are made. Except as required by applicable law, Alkane assumes no obligation to update or to publicly announce the results of any change to any forward-looking statement contained or incorporated by reference herein to reflect actual results, future events or developments, changes in assumptions or changes in other factors affecting the Forward-looking Information. If Alkane updates any one or more forward-looking statements, no inference should be drawn that the company will make additional updates with respect to those or other Forward-looking Information. All Forward-Looking Information contained in this announcement is expressly qualified in its entirety by this cautionary statement.

Disclaimer

Alkane has prepared this announcement based on information available to it. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions or conclusions contained in this announcement. To the maximum extent permitted by law, none of Alkane, its directors, officers, employees, associates, advisers and agents, nor any other person accepts any liability, including, without limitation, any liability arising from fault or negligence on the part of any of them or any other person, for any loss arising from the use of this announcement or its contents or otherwise arising in connection with it.

This announcement is not an offer, invitation, solicitation, or other recommendation with respect to the subscription for, purchase or sale of any security, and neither this announcement nor anything in it shall form the basis of any contract or commitment whatsoever

CONTACT: NIC EARNER, MANAGING DIRECTOR & CEO, ALKANE RESOURCES LTD, TEL +61 8 9227 5677
INVESTORS & MEDIA: NATALIE CHAPMAN, CORPORATE COMMUNICATIONS MANAGER, TEL +61 418 642 556

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¹ 2012 Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (‘JORC Code’).
² Refer to the table in Annexure A for details on Measured, Indicated and Inferred Resources.
³ Refer to ALK announcements titled ‘NSW Resources and Reserves Statement FY25’, ‘Costerfield Resources and Reserves Statement FY25’ and ‘Björkdal Resources and Reserves Statement FY25’ dated 15 October 2025 for complete details for each estimate
⁴ Includes Peak Hill.