Alkane Resources — AGM Information 2011

May 16, 2011

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R ESOURCES L TD
AB N 3 5 0 0 0 6 8 9 2 1 6
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17 May 2011

Manager Announcements Company Announcements Office ASX Limited 20 Bridge Street Sydney NSW 2000

Dear Sir,

PRESENTATION

Attached is a copy of the Annual General Meeting presentation to shareholders.

A copy of this presentation will also be available on the Company’s website www.alkane.com.au.

Yours faithfully,

for ALKANE RESOURCES LTD

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D I Chalmers Managing Director

Registered Office: 129 Edward Street Perth WA 6000 Telephone: 61 8 9227 5677 Facsimile: 61 8 9227 8178 PO Box 8178 Perth Business Centre Western Australia 6849 www.alkane.com.au mail@alkane.com.au

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…putting the pieces together

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Annual General Meeting 17 May 2011

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Corporate snapshot

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Shareholder profile
Exchanges ASX: ALK
OTCQX: ANLKY
Share Price (16 May 2011) A$1.93
Shares 269m
Fully Diluted Market Cap ~A$520m
Cash ( a t 31 M arc h 2010) m ~A$22
Retail
Top 20 ~60%
No debt Institutions
Directors & Management 3%
12 Month High / Low A$2.73/ $0.23 at 30 june 2010 Abbotsleigh (Gandel Metals) 26%
A$520M Directors & Management
J. S. F. Dunlop Chairman
Market Capitalisation
D. I. Chalmers Managing Director
A$70M A . . D Lethlean Non ‐ Executive Director
I. J. Gandel Non‐Executive Director
L.A. Colless CFO Joint Secretary
K.E. Brown Joint Secretary
T W Ransted Chief Geologist
M D Sutherland General Manager NSW
Source: FT
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DZP Location

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Central West
New South Wales
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Business Strategy

Multi commodity explorer and miner, focussed in the Central West of New South Wales, Australia

Dubbo Zirconia Project – world class resource of zirconium, hafnium, niobium, tantalum, yttrium and rare earths

Gold production from Peak Hill mine 1996 – 2005. New gold development planned at Tomingley based upon 800,000 oz resource

Major gold discovery at McPhillamys (~3 million oz) Jo nt enture w ti V i h Newmont

Develop multiple operations within tight geographic area over next five years. New discoveries at Cudal (AuZn) , Bodangora (Au-Cu) and Galwadgere (Cu-Au)

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Au Au Cu
Zr Nb Cu
Y REE
Au
150km area
Au
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Dubbo Zirconia Project Zirconium, niobium, yttrium, rare earth elements

Definitive Feasibility Study TZ Minerals International Pty Ltd Study managers: Steve Gilman and Gavin Diener Marketing: Alister MacDonald (TCMS) and Dudley Kingsnorth (IMCOA) DPP Operations: ANSTO Minerals Group Bob Ring, Doug Collier, Karin Soldenoff, Des Levins, Adrian Manis, Chris Griffiths, Peter Fletcher, Prakash Rajalingam Environmental Assessment: R W Corkery & Co Pty Ltd

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Dubbo Zirconia Project Location Dubbo reg on pop i 80 000, State power grid State gas grid Major mixed agriculture Transport hub Substantial light industry

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DZP Resources Measured Resource : 35.7 million tonnes grading 0 - 55 metres 1.96% Zr02, 0.04%HfO2, 0.46% Nb2O5 , 0.03% Ta2O5 , 0.14% Y2O3 , 0.75% REO and 0.014% U O 3 8 Inferred Resource : 37.5 million tonnes at similar grades 55 - 100 metres TOTAL : 73.2 million tonnes Major world resource of zirconium, hafnium, niobium, tantalum, yttrium and rare earth elements The ore is not classified as a radioactive deposit, and production of uranium is currently prohibited in NSW

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DZP Flow Sheet

DZP Demonstration Pilot Plant

Zirconium A lications pp

Zirconium Definitions

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• Zircon (ZrSiO4) ‐contains up to 66% ZrO2

• ‐zirconium silicate mineral from which most zirconia, and zirconium materials are derived

• Zirconia (ZrO2) ‐contains up to 99.99% ZrO2 (zirconium dioxide)

• ‐zirconium dioxide exists in three forms (monoclinic, tetragonal, and cubic) ‐ two processes; fused zirconia (lower value) and chemical zirconia

• Zirconium Oxychloride (ZOC) (ZrOCl2.8H2O)

‐contains up to 36% ZrO2

• ‐zirconium chemical which most zirconium chemicals and chemical zirconias are derived

• Zirconium materials , including chemicals and oxides , and account for ~250,000 tpa (18% ) of total zircon consumption.

• Zirconium metal (Zr) ‐produced from zircon, zirconia or ZOC

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Source: TCMS

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Zirconium Industr
y
China consumes about
50% of world’s zircon
output.
About 30% of that zircon
is converted to
downstream products.
China currently
produces about 90% of
world’s ZOC and 60% of
FZA.
China has limited
domestic supply of
Zircon Zirconium silicate ZrSiO4 Primary Zr mineral source Value zircon and acquire from
2010 1.4 million tonnes ~US$1.6 billion � US$2B major producers (Aust
and S Africa).
Zircon um proi ducts Zircon a ri Z O2 [, rcon um c] Zi i h [em ca s, r me] i l Z t [a] l
2010 120,000 tonnes ~US$0.7 billion � US$1B
Source: TCMS
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Zircon Su l Demand Price
pp y
20% shortfall by 2020
Zircon prices have
escalated during
2010 and 2011 to
>US$1,700/t
Zircon price and supply will have a major impact on the cost and availability of zirconium
chemicals, zirconia and zirconium metal. China has declared zirconium a strategic metal.
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Source: TZMI
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DZP Zircon ‐ Zirconium Chemicals Pricin g

	DZP Zircon ‐ Zirconium Chemicals Pricing	DZP Zircon ‐ Zirconium Chemicals Pricing	DZP Zircon ‐ Zirconium Chemicals Pricing	DZP Zircon ‐ Zirconium Chemicals Pricing	DZP Zircon ‐ Zirconium Chemicals Pricing	DZP Zircon ‐ Zirconium Chemicals Pricing	DZP Zircon ‐ Zirconium Chemicals Pricing	DZP Zircon ‐ Zirconium Chemicals Pricing
		PRODUCT ZrO2 Q2 2010 US$/T Q1 2011 US$/T April 2011 US$/T
		PRODUCT	ZrO2	Q2 2010 US$/T	Q1 2011 US$/T	April 2011 US$/T
		Zircon (producer/trader)	65%	$900 ‐$1150	$1,500 ‐$2,100	$1,700 ‐$2,600
		(100% ZrO~~2 ~~basis)	100%	($1,440 ‐$1,840)	($2,400 ‐$3,360)	($2,700 ‐$4,160)
		ZOC (zirconium oxychloride)	36%	$1,350 ‐$1,450	$2,300 ‐$2,600	$3,100 ‐$3,700
		(100% ZrO~~2 ~~basis)	100%	($3,750 ‐$4,025)	($6,400 ‐$7,200)	($8,600 ‐$10,300)
		ZBS (zirconium basic sulphate) (100%ZrO~~2 ~~basis)	33% 100%	$1,770 $5,360	$3,000 $9,100	$3,800 $11,500
		ZBC (zirconium basic carbonate)	40%	$2,100	$3,400	$4,200
		(100%ZrO~~2 ~~basis)	100%	$5,250	$8,500	$10,500
		Fused Zirconia	98.50%	$2,900 ‐$3,100	$4,100 ‐$4,400	$6,000‐$6,500
		Chemical Zirconia	99.50%	$4,200 ‐$4,400	$7,200 ‐$7,500	$9,200‐$10,000
		Chemical Zirconia	99.90%	$5,300 ‐$5,500	$8,500 ‐$10,500	$10,400‐$14,000
		Source TCMS
	Source: TCMS

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Source: TCMS

Niobium A lications pp

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Structure of Niobium Industr
y
Metallurgical
� Structural steels
� Stainless and heat CBMM in Brazil
Pyrochlore FeNb resistant steels produces about 90%
� Superalloys of world demand.
� Super conducting
magnets
Early 2011 a Japanese
Korean consortium
Columbite
Tantalite Nb2O 5 acquired 15% of
Oxides CBMM for US$1.95B
� Glass
� Ceramics
DZP Nb DZP process removes
Concentrate
radioactive elements
such as uranium and
thorium, producing
Nb Raw Materials Intermediate Products Applications
clean concentrate
Ferro‐niobium FeNb Niobium pentoxide Nb2O5 Value
2010 85,000 tonnes ~US$2.0 billion � US$3B
Source: TZMI
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Niobium Demand
Niobium 2008
(Ferroniobium units)
consumption
~85,000t – 90% Brazil
Estimate for 2012
~100,000t
Ferroniobium price spiralled to US$60/kg in March 07 and is currently around US$40 - 45/kg
Sources: IAMGOLD / TZMI
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REE A lications pp

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Rare Earth Su l ‐ Demand
pp y
Will rare earth supply
demand be in balance
from 2015 with Lynas
and Molycorp
producing?
High probability for
LREE but not HREE
The DZP has a 75%
LREE - 25% HREE
split which gives it a
demand advantage
Separated rare earth products Value
2010 130,000 tonnes ~US$2.0 billion � US$4B
Source: IMCOA
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REE Demand Drivers

Growth 10 – 15% 5 - 10% 5 – 10% 4 - 8% 8 -12% 4 – 8% Source: IMCOA

DZP Rare Earth Pricin g

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	DZP Rare Earth Pricing	DZP Rare Earth Pricing	DZP Rare Earth Pricing	DZP Rare Earth Pricing	DZP Rare Earth Pricing	DZP Rare Earth Pricing	DZP Rare Earth Pricing	DZP Rare Earth Pricing	DZP Rare Earth Pricing	DZP Rare Earth Pricing
		Rare Earths Prices 2010 (US$/kg REO) (Source:Metal Pages© )
		Light Rare Earth	DZP Distribution	Q2 Average 2010	Q3 Average 2010	Q4 Average 2010	Q1 Average 2011		Spot 1 April $121 $121 $196 $201
		Lanthanum Oxide	19.5%	$7.13	$25.75	$53.00	$95.00
		Cerium Oxide	36.7%	$5.58	$24.50	$50.00	$96.00
		Praseodymium Oxide	4.0%	$30.60	$48.25	$77.00	$155.00
		Neodymium Oxide	14.1%	$31.13	$49.50	$80.00	$170.00		$106 $940 $150 $990
		Samarium Oxide	2.2%	$4.50	$22.25	$34.00	$95.00
		Heavy Rare Earth
		Europium Oxide	0.07%	$521.67	$570.00	$625.00	$820.00
		Gadolinium Oxide	2.15%	$8.25	$28.75	$44.00	$130.00
			4
		Terbium Oxide	0 3% .	$545 00 .	$570 00 .	605 00 .	$830 00 .		$640 ........$140........ $139
		Dysprosium Oxide	2.05%	$196.67	$275.00	$295.00	$520.00
		Ho, Er, Tm, Yb, Lu	2.9%
		Yttrium Oxide	15.8%	$11.42	$26.25	$56.00	$125.00
		DZP LREE	76.68%	$12.06	$30.58	$57.20	$112.00
		DZP YHREE	23 32%	42 23	62 34	78 70	157 00
			.	$ .	$ .	$ .	$ .		$182 ........ ........ $97 $127
		DZP LREE Concentrate Value		$8.44	$21.41	$40.04	$79.00
		DZP YHREE Concentrate Value		$29.59	$43.64	$55.09	$110.00
		Compiled by IMCOA
		DZP REE C d 0 f d i oncentrates expecte to return 7 % o separate pr ces Q4 average prices currently used in revenue projections
	Source: IMCOA

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Source: IMCOA

DZP Product Out ut and Revenues p

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Base case of 400,000 tonnes pa and expanded 1 million tonnes pa of ore processed

			Potential Production and Revenues
		Product	400,000 tonnes per annum	1,000,000 tonnes per annum
		ZBS, ZOH, ZBC, ZrO2	6,000tpa US$42M*	15,000tpa	US$105M*
		Nb -Ta concentrate	1,4000tpa US$42M*	3,500tpa	US$105M*
		LREE concentrate	1,415tpa US$57M**	3,540tpa	US$142M**
		YHREE concentrate	425tpa US$24M**	1,070tpa	US$63M**
		AVERAGED TOTALS	9,240tpa US$160 - 170Mpa	23,110tpa	US$400 - 450Mpa
		Zr @ US$7.00/kg and Nb @ US$30/kg as intermediate average prices* Price average of Q4 2010 for REO basket and assumes concentrate at 70% of total separated REO value REO output based on average 50% recovery

Base Case Operating costs ~ A$60 -70m Expanded Opex ~ A$120 - 150m Open pit life +200 years Open pit life +100 years Capex ~ A$200 - 250m Capex ~ A$400 - 500m

� ZBS = zirconium basic sulphate; ZOH = zirconium hydroxide; ZBC = zirconium carbonate Equivalent ~99% ZrO2 + HfO2

� Nb-Ta concentrate = ~70% Nb2O5 + Ta2O5 calcined basis � LREE = La, Ce, Nd, Pr � YHREE = Y, Gd, Dy, Tb

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DZP Marketin Develo ments g p

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Major MoU just announced: JV to develop 15,000t to 20,000t ZOC production (~6,000 – 7,000t of ZrO2 equivalent) facility using DZP intermediate zirconium feed. This JV would consume all the Base Case Zr output and almost assures the development of the 1Mtpa operation.

Target markets in Japan, Europe and North America.

Advanced discussions with other zirconium consumers / marketing specialists to secure sales for all remaining 1Mtpa Zr output. Many product samples distributed for evaluation.

MoU advanced with niobium consumer to look at JV to produce ferro-niobium from DZP niobium concentrate for specialised alloy markets.

Numerous discussions for sale or JV of light rare earth concentrate and heavy rare earth concentrate. Samples distributed for consumer evaluation.

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						Developmentpathway
														2012 2013 2014
				‐> 2009		2010				2011				2012			2013 2014
		DZP	Resource definition 2001 ‐ 2002	~~�~~
			Flow sheet development 2002	�																	uct
			Laboratory Zr – Nb 1999 – 2002	�												Co	ntin	ue	d prod
			Pilot plant Zr – Nb 2002	�													~~dev~~	~~elo~~	~~pment~~
			Mine Plan & Scheduling 2002	�
			Plant Design & Engineering 2002	�
			Laboratory Y & REE 2009 ‐	�		�
			Demonstration Pilot Plant 2008 ‐
			ZNbPdDiibi	�
			r – rouct struton
			Y ‐ REE Product Distribution
			Secure Offtake Agreements
			Definitive Feasibility Study	2002
			Environmental Impact (EA)	2000 ‐>
			Detailed Design
			Project Financing / Consent
			Construction
			Production

DZP Strate ic Si nificance g g

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Majority of “downstream” zirconium products are derived from zircon, whose output is governed by ilmenite/rutile from mineral sands mining operations.

China dominates downstream zirconium business at ~90% but feed is zircon.

Niobium production dominated by one company, CBMM in Brazil with 90% of market. Rare earth and yttrium production dominated by China (95%). DZP offers new source particularly for important Y and HREE.

Production costs are spread across the four metal outputs – zirconium (hafnium), niobium (tantalum), light rare earths and yttrium-heavy rare earths.

Project located in region with very favourable infrastructure and legislative framework, both at a State and Federal level.

Increased demand for many of the metals is driven by environmental legislation to ensure emissions minimisation and energy consumption efficiency

The DZP provides an alternative and strategic source for a number of important metals, and is capable of producing for hundreds of years from one ore body.

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Tomingley Project Gold Definitive Feasibility Study Mintrex Pty Ltd Study Manager: Fiona Morgan Environmental Assessment R W Corkery & Co Pty Ltd

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	Tomingley Gold Project, NSW
	ALKANE RESOURCES: 100% • Three deposits under conceptual development: Cl
	aoma (3 86Mt @ 1 76g/t Au) – . . – Wyoming One (6.59Mt @ 1.86g/t Au) – Wyoming Three(0.84Mt @ 1.75g/t Au) 947 AC, RC and core holes totalling 109,114 metres
	• Total current combined resource (d)+660,000oz – Expansion potential
	• Deposits open at depth • Significant regional exploration potential • Minimum seven year mine life =>+10yr target
	• Initial open pit +underground operations(Yrs 1‐7) Additional open pit and ug (Yrs 7 ‐10)

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• TGP Infrastructure

• • Infrastructure: – water => 45km pipeline – power (State Grid) => 20km 66Kv power line – roads => primary & secondary access

• • Skilled local workforce – population base of 150,000 within 120km diameter area

• – No FIFO, no accommodation required

• • Capital costs ~A$90 Million – CIL plant A$43m

• – Infrastructure A$22.6m

• – Owners costs A$23m

• Proposed site layout

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		TGP Financials
		Financial Summary Based on initial 7.5 year open pit and undergound operation producing 370,000 ounces
		Financial Summary Based on initial 7.5 year open pit and undergound operation producing 370,000 ounces
			Base Case	Anticipated	Upside
		Gold Price	A$1,400 / oz	A$1,500 / oz	A$1,600 / oz
		Revenue	$516.97m	$553.89m	$590.82m
		Operating Cash Flow	$155.20m	$192.13m	$233.86m
		*
		Net Cash Flow	$65 39m .	$102 32m .	$144 65m .
		IRR	14.5%	22.2%	33.3%
		NPV	$15.08m	$41.61m	$76.73m
	Credit Suisse granted mandate to provide up to A$45m debt facility with gold hedging program to return average A$1,500 / ounce …targeting +10 year mine life

Credit Suisse granted mandate to provide up to A$45m debt facility with gold hedging program to return average A$1,500 / ounce

…targeting +10 year mine life

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Advanced Exploration Gold ODEJV ‐ McPhillamys Newmont Australia Limited (NAL) Subsidiary of US based Newmont Mining Corporation NAL are the Managers and Operators

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ODEJV
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ORANGE DISTRICT EXPLORATION JOINT VENTURE (ODEJV)

Gold, Copper – Orange, NSW | Alkane Resources: 49%, Newmont Australia: 51%

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TWO FOCUS AREAS:

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MOLONG
•
Molong
Carlin & Ridgeway‐type – targeting copper‐gold porphyry‐style gold
porphyry targets ‐
mineralisation (Ridgeway type) and Carlin style
• Moorilda
MOORILDA
–
drilling confirms a major gold system @
M c Phill amy s ’
Cadia Valley
+50Moz
•
Newmont have earned 51%, to go to 75% by
carrying all expenditures through to completion
Orogenic (structural) of final BFS
gold targets
…low risk with significant upside + 4moz system
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ODEJV Moorilda | McPhillamys

||ODEJV Moorilda | McPhillamys|ODEJV Moorilda | McPhillamys|
|---|---|---|
||INITIAL RESOURCES
•
Indicated + Inferred
+0.3g/t gold||
||92 Mt @ 1.00g/t Au 0.07% Cu
2.96 Moz Au & 60,000t Cu
•
Indicated + Inferred
+0.5g/t gold
61 Mt @ 1.32g/t Au 0.08% Cu||
||2.57 Moz Au & 48,000t Cu
•
Mineralisation open at depth
Deep drilling in progress||
||•
Conceptual studies for both open pit
and block cave mining
•
Preliminary metallurgical scoping
indicates +90% gold recovery from CIL
BASE AREAS
•Ot l 1000 26001/t A||
||
uer ore enveope ,m x m .g u
•
Likely low waste to ore ratio to
significant depth for open pit
• Inner ore zone 600m x 200m to 450m depth
• Average 2.8 SG
Compare Barricks Cowal Operation
• 64Mt @ 1.22g/t Au at start up
• 8Mtpa for ~ 250,000ozpa||
||||
||… potential open cut or block caving operation||

… potential open cut or block caving operation

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Exploration 2010 ‐ 2011 Discoveries The eamT Terry Ransted Chief Geologist Peter Duerden Senior Geologist David Meates Senior Geologist Jim Thornton Geologist Stewart Lamond Field Technician Michael Sutherland General Manager NSW Glen Morgan Peak Hill Site Supervisor David Moyses Cartographer Cudal Bowen Park gold – zinc Bodangora Glen Hollow gold – copper Wellington Galwadgere copper ‐ gold

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Cudal – Bowen Park
New style of mineralisation
– structural / replacement
Many exploration targets to be tested
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Bodangora – Glen Hollow Comobella Intrusive Complex 4km x 3km monzonite intrusives / skarn / hydrothermal breccias Comparable to Cadia – Ridgeway (Newcrest) system near Orange

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Bodangora – Glen Hollow

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Is it similar to Ridgeway discovery? Resource = 44Mt @ 2.6g/t Au; 0.82% Cu

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Source: Newcrest

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Wellington – Galwadgere Indicated Resource defined 2004 2.09Mt @ 0.99% Cu and 0.3g/t Au Potential to open pit mine bulk of existing resource to produce 27% Cu and 3g/t Au clean concentrate Diamond core hole GAL032 returned 14m @ 1.13 g/t Au, 0.94% Cu + 0.89% Zn Incl 4m 0.94g/t Au, 1.69% Cu + 2.98% Zn

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Wellington – Galwadgere Long Section GAL032 intersection 200m down plunge and has potential to double existing defined resource

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Project Development Pipeline
2010 2011 2012 2013 2014
TOMINGLEY GOLD Definitive easF ibility Study (DFS)
Environmental Assessment / DC
Project Financing @ $A90m
Construction
Production
DUBBO ZIRCONIA Definitive Feasibility Study (DFS)
Environmental Assessment / DA
Project Financing @ ~A$2/400m
Construction
Production
McPHILLAMYS Exploration/Pre‐feasibility
Bankable Feasibility Study (BFS)
Construction ? ? ?
Production ?
Galwadgere Exploration/Pre‐feasibility ? ?
Bodangora Exp oral tion/Pre‐feasibility ? ?
Cudal Exploration/Pre‐feasibility ? ?
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…a perfect fit

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Disclaimer

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Disclaimer

This presentation contains certain forward looking statements and forecasts, including possible or assumed reserves and resources, production levels and rates, costs, prices, future performance or potential growth of Alkane Resources Ltd, industry growth or other trend projections. Such statements are not a guarantee of future performance and involve unknown risks and uncertainties, as well as other factors which are beyond the control of Alkane Resources Ltd. Actual results and developments may differ materially from those expressed of implied by these forward looking statements depending on a variety of factors. Nothing in this presentation should be construed as either an offer to sell or a solicitation of an offer to buy or sell securities.

Competent P erson

The information in this presentation that relates to mineral exploration, mineral resources and ore reserves is based on information compiled by Mr D I Chalmers, FAusIMM, FAIG, (director of the Company) 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 Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Ian Chalmers consents to the inclusion in the presentation of the matters based on his information in the form and context in which it appears.

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