Alkane Resources — AGM Information 2021

Nov 16, 2021

ASX and MEDIA RELEASE

17 November 2021

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AGM Managing Director’s Presentation

Alkane Resources Limited (ASX: ALK) (Company) is pleased to advise that the presentation made at today’s Annual General Meeting by Managing Director, Mr Nic Earner is available on the Company’s website.

A copy of Mr Earner’s presentation is attached.

For the purpose of ASX Listing Rule 15.5, the Joint Company Secretary has authorised this announcement.

Dennis Wilkins JOINT COMPANY SECRETARY

CONTACT

INVESTORS MEDIA

: NIC EARNER, MANAGING DIRECTOR, ALKANE RESOURCES LTD, TEL +61 8 9227 5677

: NATALIE CHAPMAN, CORPORATE COMMUNICATIONS MANAGER, TEL +61 418 642 556

: JOHN GARDNER, CITADEL-MAGNUS, TEL +61 413 355 997

Level 4, 66 Kings Park Road, West Perth WA 6005, AUSTRALIA (PO Box 768, West Perth WA 6872, AUSTRALIA) Telephone: +61 8 9227 5677 Facsimile: +61 8 9227 8178 www.alkane.com.au mail@alkane.com.au

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ANNUAL GENERAL MEETING PRESENTATION Nic Earner, Managing Director

November 2021

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© 2021 Alkane Resources

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 or 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.

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Alkane Resources Ltd cannot and does not give any assurance that the results, performance or achievements expressed or implied by the forward-looking statements contained in this presentation will occur and investors are cautioned not to place any reliance on these forward-looking statements. Alkane Resources Ltd does not undertake to update or revise forward-looking statements, or to publish prospective financial information in the future, regardless of whether new information, future events or any other factors affect the information contained in this presentation, except where required by applicable law and stock exchange listing requirements. This document has been prepared in accordance with the requirements of Australian securities laws, which may differ from the requirements of United States and other countries’ securities laws. Unless otherwise indicated, all ore reserve and mineral resource estimates included or incorporated by reference in this document have been, and will be, prepared in accordance with the JORC classification system of the Australasian Institute of Mining, and Metallurgy and Australian Institute of Geosciences.

Previously reported information

The information in this report that relates to the combined mineral resources and ore reserves is drawn from the Company’s ASX announcement dated 7 September 2021. The Tomingley Life Of Mine Plan is extracted from the Company’s ASX announcement dated 3 June 2021. Exploration results are extracted from the Company’s ASX announcements noted in the text of the document and are available to view on the Company’s website. The Company confirms that it is not aware of any new information or data that materially affects the information included in the relevant market announcement(s); in the case of estimates of mineral resources or ore reserves, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed; and that the form and context in which the Competent Person’s findings are presented have not been materially altered.

Competent person

Unless otherwise advised above or in the Announcements referenced, the information in this presentation that relates to exploration results, mineral resources and ore reserves is based on information compiled by Mr D I Chalmers, FAusIMM, FAIG, (director of the Company) 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 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Chalmers consents to the inclusion in this presentation of the matters based on his information in the form and context in which it appears.

ALKANE RESOURCES | ASX:ALK

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FY21 Highlights

Upgraded and exceeded production guidance at Tomingley

Competitive AISC of A$1,320/oz

Roswell and San Antonio Indicated Resources declared

Tomingley Life of Mine Plan delivered

North Molong Porphyry Project continues to grow with over 75,000 metres drilled to date

De-merger of ASM

ALKANE RESOURCES | ASX:ALK

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Strategy, Growth and Investment

Alkane is growing shareholder value through:

• increased gold production at

• Tomingley

• targeted exploration and development, and;

• cornerstone investments.

CORPORATE STRENGTH AND TRACK RECORD

• $117.3M in cash, bullion and listed investments (as at 30 September 2021)

• Extensive senior management

expertise in the full mining life-cycle Highly-credentialled and experienced Board

• Over $1B of value created through demerger of Australian Strategic Materials (ASX: ASM)[#]

RELIABLE, LONG TERM PRODUCTION

• FY21 gold production of 56,958 oz at AISC A$1,320/oz

• FY22 guidance 55-60,000 oz

• Growth pipeline through Tomingley Corridor

• Life Of Mine Plan to at least 2031 with

• ~745,000 oz gold production planned

LANDMARK DISCOVERY AT BODA

• Extensive gold-copper porphyry mineralisation

• Strong indications of large system at Boda, including:

• 689m at 0.46g/t Au, 0.19% Cu

• 1,167m at 0.55g/t Au, 0.25% Cu

• 383m at 0.80g/t Au, 0.31% Cu

• Drilling program targeting further extensions to mineralisation and highgrade structures

STRATEGIC INVESTMENT TO SUPPORT GROWTH

• Ambition to be a multi-mine producer

• Extensive tenement holding in NSW with strong exploration potential

• Cornerstone investments with strategic alliance:

• 19.8% of Genesis Minerals (ASX: GMD); market cap ~$311M

• 9.7% of Calidus Resources (ASX: CAI); market cap ~$248M

ALKANE RESOURCES | ASX:ALK

# Combined market capitalisations of ALK & ASM at 13 July 2021 vs ALK pre-demerger

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Corporate Profile

Capital Structure
Ordinary Shares	596 million
Share Price (12 November 2021)	A$0.92
Market Capitalisation	A$548M
12 Month low/high	A$0.65/1.26
Cash and Gold Bullion (30 September 2021)	A$39.3M
Listed Investments (30 September 2021)	A$78.0M
Interest Bearing Debt Drawn (30 September 2021)	~A$34.4M
Enterprise Value	~A$543M
Average Daily Turnover (6 Months)	~A$2.1M/day

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Share Register Profile
4%
15%
Domestic Institutions
Foreign Institutions
Directors and Management
27%
Retail & Other
54%
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Ian Gandel (Non-Executive Chairman)

Mr Gandel is a successful Melbourne based businessman with extensive experience in retail management and retail property. Through his private investment vehicles Mr Gandel has been an investor in the mining industry since 1994.

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Nic Earner (Managing Director)

Mr Earner is a chemical engineer and graduate of University of Queensland with over 25 years’ experience in technical and operational optimisation and management. He has held several executive roles in mining and processing.

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Ian Chalmers (Technical Director)

Mr Chalmers is a highly experienced geologist and executive with over 50 years’ experience. Mr Chalmers was Managing Director for almost 11 years, before the appointment of Mr Earner in 2017. Mr Chalmers provides ongoing technical, commercial and exploration expertise.

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Anthony Lethlean (Non-Executive Director)

Mr Lethlean is a geologist with over 10 years operational experience including Fimiston and Bellevue. He was analyst for various stockbrokers and investment banks including CIBC World Markets and a founder and Director of corporate advisor Helmsec Global Capital. He is currently also a Director of corporate advisory Rawson Lewis concentrating on the resources sector.

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Gavin Smith (Non-Executive Director)

Mr Smith is an accomplished senior executive and non-executive director with multinational business experience. He has more than 35 years’ experience in Information Technology, Business Development and General Management, across a wide range of industries and sectors.

Dennis Wilkins (Joint Company Secretary)

James Carter (CFO and Joint Company Secretary)

Since 1994 Mr Wilkins has been a director of, and involved in the executive management of, several publicly listed resource companies.

Mr Carter is a CPA and corporate governance professional with 25+ years’ experience in the mining industry, including as CFO with a number of publicly-listed companies.

ALKANE RESOURCES | ASX:ALK

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Tomingley Corridor: Central West NSW

~10km mineralised corridor adjacent to established processing infrastructure at Tomingley Gold Operations (TGO)

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ALKANE RESOURCES | ASX:ALK

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Tomingley Operation

• 1Mtpa processing plant operating since 2014 (permitted for 1.5Mtpa)

• Exceeded FY21 production guidance with 56,958 oz at AISC A$1,320/oz

• Open cut and underground operations

• FY22 production guidance of 55-60,000 oz

Resource (Roswell): 10.1Mt @2.04g/t Au (660,000 oz)[#]

• Indicated 7.88Mt @2.07g/t Au (524,000 oz)

• Inferred 2.79Mt @1.93g/t Au (136,000 oz)

Resource (San Antonio): 7.32Mt @1.72g/t Au (406,000 oz)[#]

• Indicated 5.93Mt @1.82g/t Au (347,000 oz)

• Inferred 1.39Mt @1.32g/t Au (59,000 oz)

Reserve (Open Cut): 7.9Mt @1.7g/t Au (420,000 oz)[#] Reserve (Underground): 1.6Mt @2.8g/t Au (142,000 oz)[#]

#ASX Release 7 September 2021 & tables from that ASX Release at end of this presentation.

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Tomingley Operation

• Extent of mineralisation at San Antonio, Roswell alone covers significantly larger area than original Tomingley discoveries

Total Resource for TGO, Tomingley Extension Project and Peak Hill: 27.0 Mt @ 1.99g/t Au (1,727,000 oz)[#]

Total Reserve for TGO and Tomingley Extension Project: 11.8 Mt @ 1.86g/t Au (707,000 oz)[#]

#ASX Release 7 September 2021 & tables from that ASX Release at end of this presentation.

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Tomingley Underground

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Existing development (yellow) and stopes (blue) under Wyoming One and the Caloma open cuts

ALKANE RESOURCES | ASX:ALK

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Tomingley Underground

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Existing development and stopes (yellow and blue) and planned development and stopes (blue lines and other colours) under Wyoming One and the Caloma open cuts

ALKANE RESOURCES | ASX:ALK

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Equipment Replacement

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• Productivity focus and preparation for Tomingley Gold Extension Project

• New equipment received to date:

• New equipment to be received by Q1 2022:

  • Epiroc MT65 truck

  • Sandvik DD422i jumbo

• 3 x CAT 2900 loaders

• CAT 2900 loader

• 3 x Epiroc MT65 trucks

• Normet Charmec MC605D

• Sandvik DL432i production drill

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Tomingley Extension Project

• Life Of Mine (LOM) plan shows operation to at least 2031 [#] .

• Planned production of approximately 745,000 oz for the period, with processing ramping to a 1.5 mtpa .

• The planned production profile (averaged for each period) is:

• 50,000 – 60,000 ozpa for FY22 & FY23 ;

• Escalating from 60,000 ozpa through FY24 to;

• 100,000 – 115,000 ozpa for FY25 to FY27 ; and,

• 55,000 – 65,000 ozpa for FY28 to FY31 .

• Substantial upside potential to extend the Roswell underground and maintain production over FY28 to FY31 at or near FY25 to FY27 levels, and beyond.

• Expected AISC over the LOM period is A$1,350 to A$1,450 per oz.

ALKANE RESOURCES | ASX:ALK

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#ASX release 3 June 2021.

Tomingley Extension Project

• Development requires the diversion of the Newell Highway onto land that Alkane has purchased.

• This diversion, together with plant upgrades and other capital gives rise to a capital cost of ~$87M, predominantly expended in FY23.

• Capital cost planned to be funded from operating cashflow and debt, discussions underway with potential debt providers.

• Environmental Impact Statement being prepared for submission this quarter. Project Approval expected in mid-2022.

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ALKANE RESOURCES | ASX:ALK

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Tomingley Underground and Exploration Drive

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Existing development (yellow) and stopes (blue) under Wyoming One and the Caloma open cuts

Existing development and stopes (yellow and blue) and planned development and stopes (blue lines and other colours) under Wyoming One, the Caloma open cuts and Roswell (left of picture)

ALKANE RESOURCES | ASX:ALK

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Boda Prospect

• Significant Gold-Copper Porphyry mineralisation at Boda

• Boda target identified by lithogeochemistry and geophysics, followed by RC drilling

• Diamond holes show large scale mineralisation with higher grade core, continuing to the south and north west

• Numerous other intercepts over +3km strike length demonstrating extensive mineralised system

• Geological understanding of system continues to grow

• Prospect potential for a large Tier One deposit

• Regional targets being tested informed by Boda

• Discussion of latest Boda results available on Alkane’s website at https://www.alkane.com.au/projects/northern-molong-porphyry-

• project/boda kaiser/

*ASX Releases: 9 September 2019, 13 February 2020, 24 March 2020, 18 May 2020, 9 November 2020, 18 December 2020, 8 March 2021, 3 May 2021, 16 August 2021 and 22 October 2021

ALKANE RESOURCES | ASX:ALK

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Boda – High grade breccia KSDD007; 028; 31; KSRC043

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KSDD007 (96.8m @ 3.97g/t Au and 1.52% Cu) Chalcopyrite cemented breccia in potassic altered volcanics

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KSDD007

KSDD007 1,167m @ 0.55g/t gold, 0.25% copper from 75 metres incl 512m @ 1.00g/t gold, 0.44% copper from 688 metres incl 376m @ 1.30g/t gold, 0.56% copper from 768 metres incl 96.8m @ 3.97g/t gold, 1.52% copper from 768 metres

KSDD031 – 0.3m grading 43.4g/t Au, 7.8% Cu from 886.4m – Chalcopyrite-calcite-kspar altered monzonite finger within the breccia .

KSDD028; 40; 41 – KSRC042; 43

ALKANE RESOURCES | ASX:ALK

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© 2021 Alkane Resources

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North Molong Porphyry Project Drilling Program

Current Program:

• Drilling focus on high grade as well as both near surface and repeat structure opportunities

• Two diamond rigs and one RC rig on site

• Kaiser to Boda Three mineralised envelope:

• Over three kilometres long

• Up to 400 metres width

• 1,100m depth

• Remains open at depth and along strike

• High grade Au-Cu zones at Boda currently interpreted to trend NW-SE, dipping steeply to the NE

• RC drilling to initially test the NW corridor from Boda to Kaiser continues, extending to test Kaiser/Duke at surface

• Metallurgical test program initiated

• Intention to release an initial resource before end of Q1 2022

ALKANE RESOURCES | ASX:ALK

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Strategic Gold Investments

• Additional value creation options beyond strong regional NSW exploration portfolio

• Long-term, potential value demonstratedvia strategic investment and future M&A

• Collaborative approach to investments with board representation agreed

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Alkane owns ~19.8% of Genesis Minerals, which has a 1,600,000oz+ high grade Au resource in Western Australia. Genesis is pursuing highly prospective regional exploration and development opportunities and has announced a major strategic funding package led by former Saracen and Northern Star Managing Director, Raleigh Finlayson.

Alkane owns ~9.7% of Calidus Resources, which is fully funded and currently developing a 100,000oz+ p.a. Au project in Western Australia from its 1,500,000oz resource. Calidus is on track to be Australia’s next gold producer.

ALKANE RESOURCES | ASX:ALK

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Key Priorities for FY22

Test high grade extensions, near surface resources and repeat structures at Boda and nearby porphyry targets

Early stage exploration across greater Boda region (North Molong Porphyry Project)

Initial Boda Resource

Tomingley Corridor Exploration Drive (underway)

Submission of Tomingley Extension Environmental Impact Statement for evaluation, public display and Project Approval

Continue to monitor and enhance investments

ALKANE RESOURCES | ASX:ALK

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www.alkane.com.au

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Mineral Resources

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PEAK HILL GOLD PROJECT MINERAL RESOURCES(as at 30 June 2021)	PEAK HILL GOLD PROJECT MINERAL RESOURCES(as at 30 June 2021)	PEAK HILL GOLD PROJECT MINERAL RESOURCES(as at 30 June 2021)	PEAK HILL GOLD PROJECT MINERAL RESOURCES(as at 30 June 2021)	PEAK HILL GOLD PROJECT MINERAL RESOURCES(as at 30 June 2021)	PEAK HILL GOLD PROJECT MINERAL RESOURCES(as at 30 June 2021)	PEAK HILL GOLD PROJECT MINERAL RESOURCES(as at 30 June 2021)
Deposit	Resource Category	Cut-Off	Tonnes (Kt)	Gold Grade g/t	Gold Metal (Koz)	Copper Metal(%)
Proprietary U/G	Inferred	2g/t Au	1,022	3.29	108	0.15
TOTAL			1,022	3.29	108	0.15

Apparent arithmetic inconsistencies are due to rounding. These Mineral Resources are wholly inclusive of any Ore Reserves.

ALKANE RESOURCES | ASX:ALK

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Ore Reserves

TOMINGLEY GOLD OPERATION ORE RESERVES(as at 30 June 2021)	TOMINGLEY GOLD OPERATION ORE RESERVES(as at 30 June 2021)	TOMINGLEY GOLD OPERATION ORE RESERVES(as at 30 June 2021)	TOMINGLEY GOLD OPERATION ORE RESERVES(as at 30 June 2021)	TOMINGLEY GOLD OPERATION ORE RESERVES(as at 30 June 2021)	TOMINGLEY GOLD OPERATION ORE RESERVES(as at 30 June 2021)	TOMINGLEY GOLD OPERATION ORE RESERVES(as at 30 June 2021)	TOMINGLEY GOLD OPERATION ORE RESERVES(as at 30 June 2021)
DEPOSIT	PROVED		PROBABLE		TOTAL		Total Gold
	Tonnage	Grade	Tonnage	Grade	Tonnage	Grade
	(Kt)	(g/t Au)	(Kt)	(g/t Au)	(Kt)	(g/t Au)	(Koz)
Open Pittable Reserves(cut off 0.40g/t Au)
Wyoming One	0	0.0	0	0.0	0	0.0	0
Wyoming Three	0	0.0	0	0.0	0	0.0	0
Caloma	398	1.7	78	1.2	476	1.6	25
Caloma Two	0	0.0	0	0.0	0	0.0	0
Stockpiles	72	1.2	0	0	72	1.2	3
Sub Total	470	1.6	78	1.2	548	1.6	28
Underground Reserves(cut off 1.3g/t Au)
Wyoming One	780	2.1	410	2.1	1,190	2.1	81
Caloma One	3	1.5	113	1.5	116	1.5	5
Caloma Two			519	1.8	519	1.8	31
Sub Total	783	2.1	1,042	1.9	1,825	2.0	117
TOTAL	1,253	1.8	1,120	1.9	2,373	1.9	144

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ALKANE RESOURCES | ASX:ALK 22