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Alkane Resources Capital/Financing Update 2008

Jan 1, 2008

48579_rns_2008-01-01_02639b09-4ed0-45a2-a20c-e9322bb3ada1.pdf

Capital/Financing Update

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----- Start of picture text ----- R ESOURCES L TDABN 3 5 0 0 0 6 8 9 2 1 6----- End of picture text -----

2 January 2008

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

Dear Sir,

RIGHTS ISSUE – ALLOTMENT OF SHORTFALL

Further to Appendix 3B application for quotation of additional shares dated 19 November 2007 in respect of the entitlement issue to shareholders, the Company wishes to confirm that the shortfall of 25,783,436 shares has now been placed and allotted in accordance with the underwriting agreement.

The Company further advises the following:

  • 1 Date of allotment

2 January 2008

  • 2 Number of securities for which quotation is sought 25,783,436 ordinary fully paid shares (ALK)

  • 3 Issued capital

Quoted capital including the new shares allotted 241,672,162 ordinary fully paid shares (ALK) Unquoted securities 975,000 Staff/consultants options exercisable at 45 cents on or before 29/5/2008 (ALKAK) 2,500,000 Directors/officers options exercisable at 25 cents, expiring 30/9/08 (ALKAS)

3,000,000 Directors/officers exercisable at 30 cents vesting 19/4/08, expiring 30/9/09 (ALKAU) 850,000 Employee/consultants options exercisable at 25 cents, expiring 30/9/08 (ALKAW) 1,200,000 Employee/consultants options exercisable at 30 cents vesting 19/4/08, expiring 30/9/09 (ALKAY)

Yours faithfully, for ALKANE RESOURCES LTD

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L A Colless Secretary

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 [email protected]