Alkane Resources — Capital/Financing Update 2012

Feb 27, 2012

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MARKET RELEASE

28 February 2012

Alkane Resources Limited

TRADING HALT

The securities of Alkane Resources Limited (the “Company”) will be placed in Trading Halt Session State at the request of the Company, pending the release of an announcement by the Company. Unless ASX decides otherwise, the securities will remain in Trading Halt Session State until the earlier of the commencement of normal trading on Thursday, 1 March 2012 or when the announcement is released to the market.

Security Code: ALK

Wade Baggott Senior Adviser, Listings (Perth)

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28 February 2012

Manager Companies ASX Ltd 2 The Esplanade Perth WA 6000

Attn: Wade Baggott

Dear Wade,

Trading Halt Notice (“Notice”) Alkane Resources Ltd (“ALK”)

Alkane Resources Ltd (“ALK”) requests an immediate trading halt from prior to commencement of trading on 28 February 2012 pending announcement of a capital raising.

For purposes of Listing Rule 17.1, ALK provides the following information:

• a) ALK requests that the trading halt continues until an announcement is made by the Company. ALK presently anticipates such an announcement will be made prior to commencement of trading on Thursday, 1 March 2012.

• b) ALK is not aware of any reason why the trading halt should not be granted

Yours sincerely,

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Karen Brown Joint Company Secretary Alkane Resources Ltd

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