Alkane Resources — Director's Dealing 2022

Jun 20, 2022

ASX and MEDIA RELEASE

21 June 2022

==> picture [150 x 111] intentionally omitted <==

Off Market Share Trade

Alkane Resources Limited (ASX: ALK) (Company) has been advised that entities associated with the Company’s major shareholder and Chair, Mr Ian Gandel, have sold 19 million shares held in the Company via an off-market transaction block trade.

The transaction has been undertaken by Mr Gandel for personal reasons associated with adjusting his business affairs. These include the potential funding of the proposed takeover of Alliance Resources Limited by Gandel Metals Pty Ltd.

Following the sale, Mr Gandel retains a significant interest in the Company and continues as the Company’s largest shareholder, with a relevant interest of 131,792,506 shares (representing approximately 22.128% of issued capital).

The sale of shares was approved and conducted in accordance with the Company’s Securities Trading Policy.

An Appendix 3Y and ASIC form 604 are attached to this announcement.

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

Dennis Wilkins

JOINT COMPANY SECRETARY

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

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

: PAUL RYAN, CITADEL-MAGNUS, TEL +61 409 296 511

CONTACT INVESTORS MEDIA

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

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/9/01. Amended 01/01/11

Name of entity Alkane Resources Ltd ABN 35 000 689 216

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Ian Jeffrey GANDEL
Date of last notice	5 May 2021

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Direct or indirect interest	Indirect interest
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	a) Abbotsleigh Pty Ltd – a company in which the Director is a director and shareholder b) Citicorp Nominees Pty Ltd – custodian nominee holding for and on behalf of Abbotsleigh Pty Ltd c) ILG Estate Co 1 Pty Ltd – a company in which the Director is the sole director and shareholder d) ILG Estate Co 2 Pty Ltd – a company in which the Director is the sole director and shareholder e) ILG Estate Co 3 Pty Ltd – a company in which the Director is the sole director and shareholder f) ILG Estate Co 4 Pty Ltd – a company in which the Director is the sole director and shareholder
Date of change	21 June 2022
No. of securities held prior to change	a) 101,653,699 ALK b) 8,100,000 ALK c) 10,259,702 ALK d) 10,259,702 ALK e) 10,259,702 ALK f) 10,259,701 ALK
Class	Ordinary fully paid shares ALK
Number acquired	Nil

• See chapter 19 for defined terms.

01/01/2011 – Appendix 3Y

Page 1

Appendix 3Y Change of Director’s Interest Notice

Number disposed	a) 19,000,000 ALK
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	a) $0.75 per share
No. of securities held after change	a) 82,653,699 ALK b) 8,100,000 ALK c) 10,259,702 ALK d) 10,259,702 ALK e) 10,259,702 ALK f) 10,259,701 ALK
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation inbuy-back	Off-market trade.

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract Nature of interest Name of registered holder (if issued securities) Date of change No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed Interest acquired Interest disposed Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation Interest after change

Part 3 –[+] Closed period

Were the interests in the securities or contracts detailed No above traded during a[+] closed period where prior written clearance was required? If so, was prior written clearance provided to allow the Not applicable trade to proceed during this period? If prior written clearance was provided, on what date was Not applicable this provided?

21 June 2022

This document is authorised for release to the market by:

Dennis Wilkins Joint Company Secretary

• See chapter 19 for defined terms.

01/01/2011 - Appendix 3Y

Page 2

Form 604 Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme Alkane Resources Limited ACN/ARSN ABN 35 000 689 216

1. Details of substantial holder[(1)]

Name ACN/ARSN	Ian Jeffrey Gandel

There was a change in the interests of the substantial holder on 21/06/2022 The previous notice was given to the company on 21/07/2020 The previous notice was dated 21/07/2020

2. Previous and present voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3)

in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

Class of securities (4)	Previous notice	Previous notice	Present notice	Present notice
	Person's votes	Voting power(5)	Person's votes	Voting power(5)
OrdinaryShares	147,392,506	24.762%	131,792,506	22.128%

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date of Change	Person whose relevant interest changed	Nature of Change (6)	Consideration given in relation to change (7)	Class and number of securities affected	Person’s votes affected
21/06/22	Ian Gandel	On-market trade - sale	$14,250,000	19,000,000 Ord Shares	Abbotsleigh ProprietaryLimited
27/07/21	Ian Gandel	Off-market transfer between registered holders with no change intotal relevantinterests	$11,131,777	10,259,702 Ord Shares	Abbotsleigh Proprietary Limited and ILG Estate Co 1 PtyLtd
27/07/21	Ian Gandel	Off-market transfer between registered holders with no change intotal relevantinterests	$11,131,777	10,259,702 Ord Shares	Abbotsleigh Proprietary Limited and ILG Estate Co 2 PtyLtd
27/07/21	Ian Gandel	Off-market transfer between registered holders with no change intotal relevantinterests	$11,131,777	10,259,702 Ord Shares	Abbotsleigh Proprietary Limited and ILG Estate Co 3PtyLtd
27/07/21	Ian Gandel	Off-market transfer between registered holders with no change intotal relevantinterests	$11,131,776	10,259,701 Ord Shares	Abbotsleigh Proprietary Limited and ILG Estate Co 4 Pty Ltd
03/05/21	Ian Gandel	On-market trade - purchase	$2,920,940	3,400,000 Ord Shares	Abbotsleigh ProprietaryLimited

4. Present relevant interests

4.Present relevant interests	4.Present relevant interests	4.Present relevant interests	4.Present relevant interests	4.Present relevant interests	4.Present relevant interests
Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:
Holder of relevant interest	Registered holder of securities	Person entitled to be registered asholder(8)	Nature of relevant interest (6)	Class and number of securities	Person’s votes
Ian Gandel	Abbotsleigh Proprietary Limited	Abbotsleigh Proprietary Limited	Indirect	74,053,699 – Ord Shares	12.432%
Ian Gandel	Citicorp Nominees Pty Ltd	Abbotsleigh Proprietary Limited	Indirect	8,100,000 – Ord Shares	1.361%
Ian Gandel	Abbotsleigh Proprietary Limited	Abbotsleigh Superannuation Fund	Indirect	8,600,000 – Ord Shares	1.443%
Ian Gandel	ILG Estate Co 1 PtyLtd	ILG Estate Co 1 PtyLtd	Indirect	10,259,702 – Ord Shares	1.723%
Ian Gandel	ILG Estate Co 2 PtyLtd	ILG Estate Co 2 PtyLtd	Indirect	10,259,702 – Ord Shares	1.723%
Ian Gandel	ILG Estate Co 3 PtyLtd	ILG Estate Co 3 PtyLtd	Indirect	10,259,702 – Ord Shares	1.723%
Ian Gandel	ILG Estate Co 4 PtyLtd	ILG Estate Co 4 PtyLtd	Indirect	10,259,701 – Ord Shares	1.723%
			TOTAL	131,792,506	22.128%

5. Changes in association

5.Changes in association	5.Changes in association
The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as follows:
Name and ACN/ARSN(if applicable)	Nature of association
ILG Estate Co 1 PtyLtd	Controlled body corporate
ILG Estate Co 2 PtyLtd	Controlled body corporate
ILG Estate Co 3 PtyLtd	Controlled body corporate
ILG Estate Co 4 PtyLtd	Controlled body corporate

6. Addresses

The addresses of persons named in this form are as follows:

Name	Address
Ian JeffreyGandel	Suite 3,51-55 CityRoad,Southbank,VIC,3006
Abbotsleigh ProprietaryLimited	Suite 3,51-55 CityRoad,Southbank,VIC,3006
ILG Estate Co 1 PtyLtd	Suite 3,51-55 CityRoad,Southbank,VIC,3006
ILG Estate Co 2 PtyLtd	Suite 3,51-55 CityRoad,Southbank,VIC,3006
ILG Estate Co 3 PtyLtd	Suite 3,51-55 CityRoad,Southbank,VIC,3006
ILG Estate Co 4 PtyLtd	Suite 3,51-55 CityRoad,Southbank,VIC,3006
CiticorpNominees PtyLtd	GPO Box 764G Melbourne,VIC,3001

Signature

Print Name Ian Gandel

Sign Here

Capacity Individual

Date 21/06/2022

==> picture [107 x 81] intentionally omitted <==