Announcement • Jul 10

Alkane Resources Limited Reports Positive Drilling Results from Björkdal Gold Mine Near Mine Exploration Program

Alkane Resources Limited reported further positive results from extension and infill drilling at the Björkdal Gold Mine in Sweden. An additional 29 drill holes have been completed targeting the Eastern and Northern extensions of the Björkdal mine since Alkane's previous release. The new drilling, completed in rolling phases of extension and infill across both target areas, has significantly enhanced confidence in the understanding of vein geometry and grade-controlling structures. Grade continuity within both areas has been supported by the drilling with high-grade intercepts within the eastern extension extending the known mineralisation to a depth of 762 m below surface which is the deepest yet recorded in the field. Current and planned exploration drilling will continue to target along-strike and down-dip extensions of the known mineralisation, with the objective of further expanding mineral resources and supporting future mine-life growth. Assay highlights for the Eastern Extension include 86.1 g/t gold over 1.25 m (ETW 0.80 m) in MU25-030, 81.3 g/t gold over 4.40 m (ETW 2.20 m) in MU25-022, 78.3 g/t gold over 0.30 m (ETW 0.21 m) in MU26-005, and 39.3 g/t gold over 0.50 m (ETW 0.41 m) in MU25-011. For the Northern Extension, highlights include 31.5 g/t gold over 0.85 m (ETW 0.22 m) in MU26-002, 25.2 g/t gold over 0.60 m (ETW 0.42 m) in MU25-027, 17.1 g/t gold over 0.80 m (ETW 0.40 m) in MU25-016, and 15.4 g/t gold over 4.00 m (ETW 1.37 m) in MU25-032. The Björkdal Gold Mine is located on the eastern margin of the Skellefte Belt in northern Sweden, approximately 28 km northwest of Skellefteå and 750 km north of Stockholm. The deposit was discovered in 1983 by Terra Mining AB through a glacial till sampling program that identified anomalous gold values. Since production began, Björkdal has undergone several changes in ownership while continuing to operate as a significant gold-producing asset. Most recently, the operation became wholly owned by Alkane Resources following its merger with Mandalay Resources in August 2025. Production is supported by the 1.4 Mtpa processing plant, which has been progressively upgraded since commissioning. Current ore feed is sourced from underground mining operations and surface low-grade stockpiles. Since the start of production in 1988, the Björkdal Mine has produced approximately 1.69 million ounces of gold. Continued exploration success has delivered growth in both Mineral Resources and Ore Reserves, with the current Ore Reserve reported, as of 30 June 2025, of 13.05 Mt grading 1.29g/t gold. Since the previous release, 29 growth and infill drill holes have been completed, totalling 15,568m of diamond drilling. Drilling was focused on two target areas within the underground mine, the Eastern and Northern Extension. Both target areas are situated stratigraphically below the marble unit that extends throughout the mine area. Thirteen holes have been drilled along the eastern flank of the mine since June 2025, totalling 6,304 m with an average hole depth of 485 m. The program was completed in two phases of infill and extensional drilling, targeting strike and depth extensions of veining within the Main Zone of the underground mine. A total of 169 ore-grade intercepts have been identified within the target zone, including the best result from drillhole MU25-030, which returned 86.1 g/t gold over 1.25 m (ETW 0.80 m). The program also delivered the deepest intercept recorded at the mine to date, with drillhole MU25-021 returning 3.5 g/t gold over 3.20 m (ETW 2.45 m) at -976 RL (-762 m elevation). Sixteen holes were drilled within the Northern Extension of the underground mine since June 2025, totalling 9,264 m, with an average hole depth of 580 m. The program successfully confirmed previously identified vein swarms and further enhanced confidence in the geological interpretation of the area. A total of 68 ore-grade intercepts have been identified within the target zone, including the best result from drillhole MU26-002, which returned 31.5 g/t gold over 0.85 m (ETW 0.22 m). Drilling has confirmed mineralised veins up to approximately 600 m from existing underground development. Mineralisation remains open at depth and along strike in both the Northern Extension and Eastern Extension target areas. In Fiscal year 2027, underground drilling will continue in staged programs of infill and extension drilling aimed at improving geological confidence and testing continuity of mineralisation. At the Northern Extension, drilling will continue to test both depth and along-strike continuity, with western extension drilling to be supported by the establishment of a dedicated underground drill platform. At the Eastern Extension, mineralisation remains open at depth and along strike to the east. Future drilling will focus on step-out extensional testing to assess the continuity of known vein swarms and refine the structural controls on mineralisation in this area. Significant intercepts from Near Mine Exploration drilling program at Björkdal are provided in the tabulated drilling results, including hole IDs, intervals, estimated true widths, and gold grades. Drill hole collar details from Near Mine Exploration drilling program at Björkdal are also provided, including Northing, Easting, Elevation, Depth, Dip, Azimuth, and Date Completed.

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