Alkane Resources — Capital/Financing Update 2012

Apr 22, 2012

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23 April 2012

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

Dear Sir/Madam

Alkane Resources Limited (ASX Code: ALK) Notification under section 708A(5)(e) of the Corporations Act 2001

On 1 March 2012, Alkane Resources Ltd ABN 35 000 689 216 ( Alkane ) announced its intention to raise a total of approximately $107 million, comprising:

• up to $30 million pursuant to a partially underwritten 1 for 10 non-renounceable entitlement offer of fully paid ordinary shares in Alkane ( New Shares ) at an issue price of $1.10 per New Share ( Entitlement Offer );

• $44 million under a placement of 40.3 million Alkane shares to professional and sophisticated investors within the Company's 15% placement capacity under ASX Listing Rule 7.1 at an issue price of $1.10 per Alkane Share ( Unconditional Placement ); and

• subject to obtaining shareholder approval, $33 million under a placement of 30 million Alkane shares to professional and sophisticated investors at an issue price of $1.10 per Alkane share ( Conditional Placement ).

Alkane announces that today it has issued 30,000,000 fully paid ordinary shares in Alkane ( Conditional Placement Shares ), being the shares issued pursuant to the Conditional Placement.

Alkane gives notice under section 708A(5)(e) of the Corporations Act 2001 (Cth) ( Corporations Act ) that:

1. the Conditional Placement Shares were issued without disclosure to investors under Part 6D.2 of the Corporations Act;

2. as at the date of this notice, Alkane has complied with:

   • (a) the provisions of Chapter 2M of the Corporations Act as they apply to Alkane; and

   • (b) section 674 of the Corporations Act; and

3. as at the date of this notice, there is no excluded information of the type referred to in sections 708A(7) and 708A(8) of the Corporations Act which is required to be disclosed under section 708(6)(e) of the Corporations Act.

Yours faithfully, for ALKANE RESOURCES LTD

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D I Chalmers Managing Director

65 Burswood Road, Burswood WA 6100, AUSTRALIA (PO Box 4384, Victoria Park WA 6979, AUSTRALIA) Telephone: +61 8 9227 5677 Facsimile: 61 8 9227 8178 www.alkane.com.au mail@alkane.com.au