Alkane Resources — Share Issue/Capital Change 2012

May 14, 2012

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----- Start of picture text ----- R ESOURCES L TDABN 3 5 0 0 0 6 8 9 2 1 6----- End of picture text -----

15 May 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 20 April 2012, Alkane Resources Ltd ABN 35 000 689 216 ( Alkane ) announced its intention to issue 6,000,000 shares and 4,000,000 unlisted options to Compass Resources Limited in consideration for the buy back of the production royalty in respect of any minerals and metals recovered from Exploration Licence 5675 at the Tomingley Gold Project.

Alkane announces that today it has issued 6,000,000 fully paid ordinary shares in Alkane to Compass Resources Limited.

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

1. the 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