Alkane Resources — Capital/Financing Update 2024

Jun 10, 2024

ASX and MEDIA RELEASE

11 June 2024

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Tomingley Production Update

• ➢ Tomingley has mined ~15,700oz Au and produced 9,260oz Au over April and May 2024.

• ➢ June production is expected to be 6,000oz to 9,000oz Au, as a result the expected June quarter production is ~15,000oz to 18,000oz Au.

• ➢ Mined ounces in the June quarter are expected to be ~22,000oz to 25,000oz Au, with a corresponding build in stockpiles and gold-in-circuit.

• ➢ FY2024 production guidance for Tomingley is now 55,000oz to 58,000oz Au at an estimated AISC of A$2,150/oz to $2,350/oz (previously 60,000oz to 65,000oz production at an AISC of $A1,750/oz to $2,100/oz).

• ➢ The Roswell ramp up has not been sufficiently rapid to allow the original guidance to be met.

Alkane Resources Ltd (‘Alkane’) (ASX: ALK) updates its FY2024 Guidance for its Tomingley Gold Operations in central west New South Wales to between 55,000oz to 58,000oz Au at an AISC of A$2,150/oz to $2,350/oz.

Tomingley produced 49,158oz of gold for the 11 months to 31 May 2024.

Alkane Managing Director, Nic Earner, said: “ Tomingley is starting to deliver from the Roswell underground. The Roswell ramp up has not been sufficiently rapid for us to meet our original FY24 guidance, particularly given the recovery issues experienced in February from a discrete mining area in Caloma Two, as highlighted in our March quarterly report.

“Tomingley is now performing well, and the paste plant and flotation circuit upgrades remain on schedule. We look forward to releasing our updated Tomingley 5-year plan shortly.”

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CONTACT : NIC EARNER, MANAGING DIRECTOR, ALKANE RESOURCES LTD, TEL +61 8 9227 5677 INVESTORS : NATALIE CHAPMAN, CORPORATE COMMUNICATIONS MANAGER, TEL +61 418 642 556 MEDIA : PAUL RYAN, CITADEL-MAGNUS, TEL +61 409 296 511

Level 4, 66 Kings Park Rd, 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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Disclaimer

This report 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 forwardl o o k i n g statements depending on a variety of factors. Nothing in this report should be construed as either an offer to sell or a solicitation of an offer to buy or sell securities.

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 country 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 Geoscientists.

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

ABOUT ALKANE ‐ www.alkane.com.au ‐ ASX: ALK

Alkane Resources intends to grow to become one of Australia’s multi-mine gold and copper producers.

The Company’s current gold production is from the Tomingley Gold Operations in Central West New South Wales, which has been operating since 2014 and has the resources to continue to operate beyond 2030.

Alkane has an enviable exploration track record and controls several highly prospective gold and copper tenements. Its most advanced exploration projects are in the tenement area between Tomingley and Peak Hill, which has the potential to provide additional ore for Tomingley’s operations.

Alkane’s exploration success includes the landmark porphyry gold-copper mineralisation discovery at Boda in 2019. With drilling ongoing adjacent to the initial resource identified at Boda, Alkane is confident of further consolidating Central West New South Wales’ reputation as a significant gold and copper production region.

Alkane’s gold interests extend throughout Australia, with strategic investments in other gold exploration and aspiring mining companies, including ~6.7% of Calidus Resources (ASX: CAI).

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Alkane Resources Ltd – TGO Update – 11 June 2024