Alkane Resources — Regulatory Filings 2008

Apr 13, 2008

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RESOURCES LTD
ABN 35 000 689 216
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ASX ANNOUNCEMENT – 14 April 2008

Corporate Profile

Alkane Board

CALOMA RESOURCE POTENTIAL ENHANCED BY NEW GOLD INTERCEPTS

J. S. F. Dunlop (Chairman) D. I. Chalmers (Managing Dir) A. D. Lethlean I. J. Gandel

I. R. Cornelius

• The RC resource definition drilling program is continuing and results for a further 30 holes have been received. Significant high grade intercepts continue to be recorded.

• Results include:

PE 280 15 metres grading 16.80g/t gold from 75 metres including 6 metres grading 40.04g/t gold from 81 metres PE 282 22 metres grading 3.54g/t gold from 88 metres including 11 metres grading 5.89g/t gold from 88 metres also 5 metres grading 30.55g/t gold from 191 metres including 1 metres grading 128.00g/t gold from 194 metres PE 286 24 metres grading 2.54g/t gold from 143 metres including 5 metres grading 7.94g/t gold from 162 metres PE 287 10 metres grading 8.83g/t gold from 77 metres including 3 metres grading 27.40g/t gold from 78 metres also 18 metres grading 2.94g/t gold from 186 metres including 10 metres grading 4.53g/t gold from 194 metres PE 290 53 metres grading 4.71g/t gold from 163 metres including 5 metres grading 21.40g/t gold from 198 metres PE 299 6 metres grading 8.02g/t gold from 164 metres PE 301 12 metres grading 4.50g/t gold from 33 metres PE 309 7 metres grading 7.50g/t gold from 88 metres

L A Colless (Secretary)

Contact

Ian Chalmers Managing Director 96 Parry Street PERTH WA 6000 Telephone +61 8 9328 9411 Facsimile +61 8 9227 6011 Email ichalmers@alkane.com.au Web – www.alkane.com.au

12 month share price range A$0.515 - $0.20

Market Cap 11 April 08 ~A$94 million

ASX Code: ALK 241.6 million shares (Jan 08) March 2008 Cash ~ $12.3 million No debt

Media Relations

Westbrook Communications Level 1, 17 Castlereagh Street SYDNEY NSW 2000 Telephone +61 2 9231 0922 Facsimile +61 2 9231 0131 Web – www.westbrookfin.com.au

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 mail@alkane.com.au

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The reverse circulation (RC) and diamond core resource definition drilling program commenced at Caloma within the Tomingley Gold Project (TGP) late October. As at the end of March, 107 RC holes (PE 215 – 329) totalling 13,750 metres of the planned 20,000 metre program had been completed. Also 11 core holes (PE 253D – 257D, PE 271D – 273D, PE 289D and PE 292D – 293D) totalling 2,475 metres have been completed. The drilling program is currently focussed on a 400 metre long central sector of the 1,000 metre north-south trending Wyoming style feldspar porphyry host (figure 1).

Gold mineralisation was intersected in earlier reconnaissance drilling over the full length of the porphyry but the current program is targeting the area of shallower cover in the central-north where the porphyry has less than 10 metres of transported clay cover, while to the south the cover deepens up to about 30 metres. The drilling is an approximately 20 metre by 20 metre pattern to ensure the definition of a Measured and Indicated Resource to a depth of about 150 metres. This open pitable resource is a priority for the feasibility study underway for the development of the Wyoming and Caloma deposits within the TGP.

Multiple mineralised structures have been defined within the main feldspar porphyry host which is 80 to 100 metres in width. As a result of the current drilling a robust geological model has been developed and it is apparent that most of the mineralised structures within the porphyry have an approximate northerly orientation, with a shallow westerly dip (typical cross sections will be available with the Quarterly Report). These structures range in width from a few metres to in excess of 20 metres and appear to extend across the full width of the porphyry host. Intersecting structures, or structures intersecting lithological contacts, occasionally generate substantial intercepts (eg PE 290 with 53m @ 4.71g/t gold). Recent drilling has also demonstrated that the mineralised structures project through the eastern contact of the porphyry into the volcaniclastic sediments and have expanded the resource potential into that area.

Recent deeper RC and core drilling has also located an apparently new mineralised zone at depth within what appears to be lithologies footwall (east) to the porphyry. This structure is continuous over several sections at a depth of around 200 metres with an average width of about 10 metres, and in core displays extensive alteration, quartz veining and coarse pyrite/arsenopyrite, with occasional visible gold. Few results from this zone are available at this time but it is thought that RC holes PE 295, 300, 301 and 309 may represent the easterly up-dip section of this mineralisation.

Feasibility Study

Project infrastructure and site layout studies continue and initial metallurgical work on the Caloma deposit is underway. Drilling for metallurgical data has also commenced on the Wyoming Three deposit. Core drilling for additional metallurgical data on Wyoming One has been scheduled.

Geotechnical studies for the open pit development and site infrastructure are also scheduled to commence shortly.

The overall timetable for completion of the DFS is still governed by the completion of the Caloma drilling, mine planning and scheduling, however finalisation of the study is still anticipated by the end of the year.

Mr D I Chalmers, FAusIMM, FAIG, (director of the Company) 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 Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Ian Chalmers consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

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Alkane Resources Ltd – ASX Announcement

14 March 2008

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- Table 1: Caloma results greater than 1.0g/t gold PE 276 PE 312 @ 14 April 08

Hole No	East	North	RL (m)	**Azimuth **	Inclin	Intcpt (m)	Grade (g/t Au)	Interval (m)	EOH (m)	Comments
PE 276	**614880 **	**6394173 **	~270	**090° **	60°	8	2.85	**53 -61 **	132
PE 277	**614839 **	6394172	~270	**090° **	60°	13	2.70	17 -30	156
**incl **						4	4.79	18 - 22
also						4	1.96	69 - 73
also						3	**1.61 **	118 - 121
also						8	1.95	128 - 136
also						*3 **	**1.81 **	141 - 144
PE 278	**614820 **	**6394173 **	~270	**090° **	60°	5	**2.92 **	9 - 14	186
and						*3 **	**2.87 **	39 - 42
also						5	**2.02 **	81 -86
also						15	2.63	141 - 156
**incl **						5	**3.91 **	147 - 152
PE 279	**614799 **	**6394178 **	~270	**090° **	60°	5	3.26	8 - 13	186
also						7	**1.64 **	136 - 143
also						5	**1.54 **	**149 - 154 **
also						1	1.13	159 - 160
PE 280	**614818 **	**6394038 **	~270	**090° **	60°	*3 **	1.75	6 -9	132
also						*15 **	16.80	75 -90
**incl **						*6 **	**40.04 **	**81 -87 **
also						*3 **	1.25	129 – 132		In miner’n
**PE 281 **	**6148759 **	**6394183 **	~270	**090° **	60°	7	**1.81 **	106 - 113	168
also						*3 **	1.68	130 - 133
**PE 282 **	**6148750 **	**6394140 **	~270	**090° **	60°	22	**3.54 **	88 - 110	204
**incl **						11	5.89	88 -99
also						2	5.12	121 - 123
also						4	2.89	132 - 136
also						*3 **	**1.37 **	156 - 159
also						5	30.55	191 - 196
**incl **						1	128.00	194 - 195
PE 283	**614820 **	**6394100 **	~270	**090° **	60°	7	1.23	15 - 22	204
also						*3 **	**1.37 **	45 - 48
also						2	**1.37 **	**85 -87 **
also						13	2.88	**91 - 104 **
**incl **						2	7.75	91 -93
and						5	3.68	**96 - 101 **
also						5*	1.59	109 - 114
also						8	3.69	122 - 130
**PE 284 **	**614800 **	**6394100 **	~270	**090° **	60°	24*	1.35	9 -33	210
**incl **						3*	4.93	18 - 21
also						3*	**1.32 **	**51 -54 **
also						13	**2.87 **	65 - 78
**incl **						2	10.21	76 -78
also						11	1.83	108 - 119
also						5	2.26	137 - 142
also						5	1.96	161 - 166
also						11	**2.62 **	189 - 200
**incl **						4	5.55	189 - 193
**PE 285 **	**614730 **	**6394140 **	~270	**090° **	60°	*3 **	1.29	48 - 51	157
also						21	2.53	89 - 110
**incl **						3	10.20	90 -93
also						3	4.39	123 - 126
also						5	**2.82 **	140 - 145
also						6	1.15	150 - 156

Gold analysis by 30g fire assay of 1 metre riffle split samples, or *rarely 3 metre composite samples. True widths are approx 90 - 95%.

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Alkane Resources Ltd – ASX Announcement

14 March 2008

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– Table 1: Caloma results greater than 1.0g/t gold PE 276 PE 312 @ 14 April 08

Hole No	East	North	RL (m)	**Azimuth **	Inclin	Intcpt (m)	Grade (g/t Au)	Interval (m)	EOH (m)	Comments
PE 286	**614780 **	**6394100 **	~270	**090° **	60°	*3 **	1.88	42 - 45	192
also						3	7.80	72 - 75
also						5	4.68	81 -86
also						1	**1.02 **	109 - 110
also						5	2.85	**129 - 134 **
also						24	**2.54 **	**143 - 167 **
**incl **						5	**7.94 **	**162 - 167 **
also						1	4.58	171 - 172
**PE 287 **	**614760 **	**6394100 **	~270	**090° **	60°	9	1.71	54 -63	205
**incl **						*3 **	4.41	60 -63
also						1	3.10	73 - 74
also						10	8.83	**77 -87 **
**incl **						3	27.40	**78 -81 **
also						7	**1.01 **	**147 - 154 **
also						10	**2.64 **	162 - 172
also						4	1.74	**177 - 181 **
also						18	**2.94 **	**186 - 204 **
**incl **						10	4.53	**194 - 204 **
PE 288	**614710 **	**6394140 **	~270	**090° **	60°	8	2.25	116 - 124	186
also						1	2.25	129 - 130
also						2	7.44	142 - 146
also						7	1.24	159 – 166
also						5	**2.07 **	**177 - 182 **
PE 290	**614740 **	**6394100 **	~270	**090° **	60°	53	4.71	163 - 216	**216 **	**In min’sn **
**incl **						39	5.56	177 - 216
and						2	12.50	187 - 189
and						3	**9.87 **	**191 - 194 **
and						5	21.40	198 - 203
**PE 291 **	**614690 **	**6394140 **	~270	**090° **	60°	4	6.18	134 - 138	192
also						5	1.24	174 - 179
also						2	2.50	187 - 189
PE 295	**614900 **	**6394065 **	~270	**090° **	60°	10	**1.92 **	15 - 25	28
PE 296	**614800 **	**6393895 **	~270	**090° **	60°	2	1.35	41 - 43	90
also						1	1.08	79 -80
**PE 297 **	**614760 **	**6393900 **	~270	**090° **	60°	4	1.18	67 - 71	144
PE 298	**614720 **	**6393900 **	~270	**090° **	60°	3	**1.61 **	85 -88	115
also						8	1.30	106 - 114
PE 299	**614660 **	**6394140 **	~270	**090° **	60°	6	**8.02 **	164 - 170	180
PE300	**614940 **	**6394020 **	~270	**090° **	60°	*6 **	3.75	15 - 21	60
**PE301 **	**614900 **	**6394020 **	~270	**090° **	60°	12*	4.50	33 - 45	83
**PE302 **	**614860 **	**6394065 **	~270	**090° **	60°	27	2.13	52 - 79	120
**incl **						8	**3.62 **	**53 -61 **
PE303	**614860 **	**6394020 **	~270	**090° **	60°	18	1.65	**64 -82 **	108
**incl **						4	3.26	70 - 74
PE305	**614820 **	**6394020 **	~270	**090° **	60°	4	3.09	7 - 11	102
also						3*	7.42	39 - 42
**PE307 **	**614800 **	**6394020 **	~270	**090° **	60°	8	2.70	**23 -31 **	40
PE308	**614780 **	**6394020 **	~270	**090° **	60°	7	3.89	33 - 40	188
PE309	**614820 **	6394055	~270	**090° **	60°	7	7.50	**88 -95 **	102
PE311	**614940 **	**6394085 **	~270	**090° **	60°	*3 **	1.09	30 -33	48
PE312	**614757 **	**6394020 **	~270	**090° **	60°	3	**2.32 **	20 - 23	66

Gold analysis by 30g fire assay of 1 metre riffle split samples, or *rarely 3 metre composite samples. True widths are approx 90 - 95%.

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Alkane Resources Ltd – ASX Announcement 14 March 2008

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BACKGROUND

Alkane is a multi commodity explorer and miner with its operations focussed in the Central West of New South Wales , centred about 400km northwest of Sydney. Over several years, including experience in developing the Peak Hill Gold Mine, Alkane has built a substantial resource base and is proceeding towards several developments:

The Tomingley Gold Project currently has a 606,000 ounce gold resource within the Wyoming deposits , of which 75% is in the Measured and Indicated categories (full details 2006 Annual Report). The recent discovery at Caloma could add significantly to the resource base and a substantial drilling program is scheduled to be completed by early 2008 to define this resource. A feasibility study for the development of the deposits is anticipated to be completed late 2008.

The Dubbo Zirconia Project is based upon a world class resource of the metals zirconium, hafnium, niobium, tantalum, yttrium and rare earth elements. The deposit also contains significant uranium. Over several years Alkane has developed a flow sheet which can recover a variety of products which have expanding applications in electronics, ceramics, special alloys and glasses, fuel cells, nuclear power and as environmental drying agents and catalysts. A feasibility study is in progress, which includes the construction and operation of a Demonstration Pilot Plant, and a development commitment is anticipated mid 2009.

Near Orange, the Company has a joint venture ( ODEJV ) with Newmont, one of the world’s largest gold miners, which resulted in the discovery in 2006 of a potentially significant gold deposit at McPhillamys within the Moorilda Project . This discovery includes intersections of 123 metres grading 1.96g/t gold and 77 metres at 1.65g/t gold within a 300 metre by 200 metre mineralised zone. Late in 2007 two deep core holes produced substantial gold intercepts in KPD002 of 225 metres grading 1.16g/t gold and KPD003 with 263 metres at 1.30g/t gold, and within both holes there were several higher grade intervals (e.g. KPD002 51 metres at 1.67g/t gold and 52 metres at 1.55g/t gold; KPD003 26 metres at 3.75g/t gold and 48.7 metres at 2.74g/t gold)

Elsewhere within the region, Alkane has defined a 2 million tonne 1.00% copper Indicated Resource (details 2006 Annual Report) which is being reviewed for its development potential at Galwadgere within the Wellington Project , and several other advanced exploration projects with encouraging drill intercepts.

In Western Australia the Company holds 9 million shares (15.15%) of listed iron ore explorer BC Iron Limited and a diluting 25% residual interest in a nickel sulphide joint venture with Xtrata Nickel (Jubilee) near Leinster .

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Alkane Resources Ltd – ASX Announcement 14 March 2008

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