Announcement • Jul 06

Alkane Resources Limited Announces Exploration Results for True Blue Deposit At Costerfield Operation

Alkane Resources Limited announced the latest exploration results for extension and infill drilling of the True Blue deposit, located 2 km west of the active underground workings at its Costerfield Operation in central Victoria, Australia. An additional 33 holes targeting the Freeman veining within the True Blue deposit have been drilled since Alkane’s previous update. The new drilling predominantly targeted infill of the upper portion of the deposit and has significantly increased confidence in understanding the vein geometry and grade-controlling structures. The higher resolution granted by the infill drilling indicates there is further veining complexity that serves to break-up a previously interpreted high-grade panel. Current and future exploration drilling will target along-strike repetitions of mineralisation at True Blue both to the north and south, and investigate the link between it and the West Costerfield prospect. From Freeman (700) Vein: 57.6g/t gold and 25.4% antimony over 0.25m (ETW 0.17m) in TB055; 20.9g/t gold and 19.5% antimony over 0.31m (ETW 0.22m) in TB057; 4.3g/t gold and 6.4% antimony over 0.8m (ETW 0.63m) in TB080; 30.1g/t gold and 14.8% antimony over 0.27m (ETW 0.17m) in TB065. From associated veins: 84.1g/t gold and 15.4% antimony over 0.48m (ETW 0.36m) in TB084 (702 splay); 17.9g/t gold and 1.7% antimony over 3.2m (ETW 1.4m) in TB053 (705 vein); 19.3g/t gold and 29.3% antimony over 0.22m (ETW 0.16m) in TB079; 11.2g/t gold and 5.7% antimony over 0.77m (ETW 0.54m) in TB055. The Costerfield gold-antimony deposit was discovered in 1861, antimony having been already identified in the district as early as 1853. Modern mining has been continuous since 2006. The True Blue deposit is first recorded in an 1864 government survey map of the Costerfield area, and was initially worked down to the water table for a short time after discovery. It has been subject to minor prospecting activity since, and in 2010 Mandalay Resources drilled the first diamond drillhole below the surface workings. However, it was not until 2022 with drillhole TB010 that economic grades were encountered and testing of the Freeman veining became a major focus of exploration at Costerfield. True Blue is located on the western flank of the Costerfield Dome, hosted by Silurian marine siltstones of the Costerfield Formation. The main mineralised structures are situated within the western limb of the dome, but many other parallel vertical shears with varying degrees of mineralisation are found closer to the hinge and on the eastern limb. The dominant mineralised structure identified at True Blue has been named the Freeman Vein, and is assigned the Costerfield resource code of 700. Other modelled veins within the deposit include the 702 and 705, which lie close by east and west of the Freeman vein respectively, and the 710 and 720 which occur parallel further east. The cap of the target veins is well defined by the Wombat Fault, which is strongly lithologically controlled and runs along a ~50cm thick isolated sandstone bed that appears to have acted as the main detachment plane for the thrust stack. The footwall boundary of the target system is also well understood. The large, west-dipping Komodo thrust fault truncates the Freeman veining and the host dome. Mineralisation at the north and south boundaries of the current resource is of lower grade, which appears to correlate with the increasing plunge of the host dome stratigraphy and bedded structures at the extremities. The current round of infill drilling has resolved the Freeman vein into a sheeted series of vertical north-south veins, generally single-generation fracture fill quartz-stibnite similar in nature to the Kendal deposit at Costerfield as opposed to shear-hosted mineralisation such as found at Brunswick/Cuffley. Mineralised linking structures cross between primary veins at oblique angles. Bedding parallel and subparallel laminated quartz veins and faults also intersect the veins, creating local grade boundaries and complex splay vein arrays. Since the previous release, 33 growth and infill holes have been completed, totalling 19,012m of diamond drill core. The recent drilling has been concentrated on infilling the upper portion of the Freeman vein and refining structural information to build confidence in the geological model. Several ore-grade intercepts were made on the Freeman vein, the best of which was from drillhole TB055 which resulted in 57.6g/t gold and 25.4% antimony over 0.25m (ETW 0.17m). The latest hole drilled into the deposit, TB084, intersected a wide zone of veining that contained high grade gold and antimony, interpreted to represent a linking zone between the 702 and 705 veins. The best interval within this zone graded 84.1g/t gold and 15.4% antimony over 0.48m (ETW 0.36m). Going into Fiscal year 2026-2027, continued drilling at True Blue will focus on testing along strike to identify additional deposits. Nearby prospectivity is apparent in several directions from the current resource: North – Soil sampling indicates the True Blue geochemical anomaly may persist at least several hundred metres further north than the current edge of the Freeman resource. South – Diamond drillhole TB022 in early 2024 intersected a wide zone of gold-antimony mineralisation approximately 550m south of the current resource boundary. Depth – The footwall of the Freeman vein system is defined by the regional-scale Komodo thrust fault. Tails of several diamond drillholes at True Blue have encountered vertical mineralised veins below this fault, including veins drilled in hole TB037 discussed in the previous release. East – The West Costerfield prospect sits approximately 800m east of the True Blue deposit and shares a potential ore fluid pathway – the Komodo Fault. The exploration targets described herein are conceptual in nature. There has been insufficient exploration to define a mineral resource in these areas and it is uncertain if further exploration will result in the delineation of a mineral resource.

Announcement • Jun 10

Alkane Resources Limited Announces Boda-Kaiser Regional Exploration Update

Alkane Resources Limited announced the latest exploration results and drilling around the Boda-Kaiser resources at its Northern Molong Porphyry Project (NMPP) in New South Wales. Near Boda-Kaiser exploration continued with the drilling of various targets testing areas for new Au-Cu mineralised centres. One diamond core drill hole and one reverse circulation (RC) drill hole were completed testing the area between the Kaiser and Boda deposits. Three RC drill holes were completed to the northeast of Boda-Kaiser testing targets generated from IP and surface geochemical surveys. The diamond core drill hole intersected a magmatic root zone to an intrusive-hydrothermal breccia. Further drilling is planned to test along strike and up-dip of this breccia. District exploration included four RC drill holes testing IP chargeability targets hosted by the Comobella Intrusive Complex at the Haddington and Glen Hollow prospects. The program confirmed the chargeability anomalism intersecting monzonites with pyrite and lesser Cu-Au mineralisation in most of the drilling. Mobile Magnetotellurics (MMT) was flown over the project area north of the Boda-Kaiser deposits, defining six high priority targets for porphyry style systems at Driell Creek, Murga, Gollan North, and two new prospects named One Tree and Old Station. On ground validation of these targets has commenced. Assay results have been received and collated for 8 reverse circulation (RC) drill holes for a total of 2,510 metres and 1 diamond (DD) core drill hole for 1,303 metres. The exploration undertaken included testing the corridor area between Boda and Kaiser deposits with 1 DD and 1 RC hole, 3 RC holes testing geochemical-geophysical anomalies northeast of Boda-Kaiser, 4 RC holes testing various IP chargeability anomalies within the CIC (Haddington and Glen Hollow prospects) that are coincident with Au-Cu mineralisation from previous companies RAB drilling, and completion of a Mobile Magneto-Telluric (MMT) survey over the majority of the NMPP. There is an approximate 500m strike length between the Boda deposit (8.4Moz Au, 1.5Mt Cu) and Kaiser deposit (1.9Moz Au, 0.4Mt Cu) that is poorly drill tested. Structural modelling and lithogeochemistry studies highlighted this area as highly prospective for hosting a new hydrothermal breccia centre. Previous drilling has supported this target with distal breccia style gold-copper mineralisation intersected from near surface in RC holes BOD066 - 226m grading 0.25g/t Au, 0.10% Cu from 12m to end of hole, and deeper in BOD065 - 64m grading 0.43g/t Au, 0.12% Cu from 174m to end of hole. One deep RC precollared diamond core drill hole (KAI226) was completed from south of Kaiser to transect the footwall of the Solar Fault that is host to the intrusive-hydrothermal breccia complex at Boda. Significant results from the 1,303m deep drill hole included an intercept of monzodiorite cemented breccia of 23.5m grading 0.31g/t AuEq1 (0.17g/t Au, 0.14% Cu) from 880.5m, including 3.2m grading 0.53g/t AuEq1 (0.31g/t Au, 0.23% Cu) from 895.8m, and 42.1m grading 0.30g/t AuEq1 (0.16g/t Au, 0.14% Cu) from 914m, including 5m grading 0.53g/t AuEq1 (0.29g/t Au, 0.25% Cu) from 920m, also 4.8m grading 0.59g/t AuEq1 (0.32g/t Au, 0.29% Cu) from 948.2m. KAI226 intersected a mineralised monzodiorite cemented breccia that is the likely magmatic root to the overlying hydrothermal breccia mineralisation intersected by previous shallow drilling. As observed at Boda-Kaiser, the highest grades to these intrusive-hydrothermal breccias occurs above the transition from magmatic cement to a hydrothermal cement, with the highest grades occurring in a sulphide-only cement. Drill targeting along strike and up-dip is planned for next year to further test this sparsely drilled area. Additionally, one 238m deep RC drill hole (KAI225) was completed testing for a southeast continuation of the Kaiser resource. The hole tested the margin of the Kaiser magnetic complex where no drilling had been previously conducted. KAI225 intersected inner propylitic alteration of basaltic-andesite lavas with pyrite mineralisation. No significant Au-Cu assay results were received. Other near Boda-Kaiser exploration focussed on the northeast flank of the system, testing three geochemical targets with co-incident elevated potassium and/or chargeability anomalies identified by the reprocessing of the 2020 IP survey. Three RC drill holes (KAI224, BOD167-8) were completed for a total of 1,014m. KAI224 intersected weak phyllic (sericite-chlorite) alteration transitioning into distal propylitic alteration with pyrite mineralisation throughout. BOD168 intersected pyrite-sericite phyllic alteration including Au-Cu assay results of 9m grading 0.31g/t AuEq* (0.30g/t Au, 0.01% Cu) from 264m. The gold enriched phyllic alteration intersected by BOD168 in the hanging wall to the Reids Fault appears similar to the observed phyllic alteration that occurs within the northeastern flank of the Boda deposit. Further drilling is planned to test for a deeper potassic/calc-potassic core in the footwall of the fault. The area northeast of Boda-Kaiser has only seen minimal drilling to date and exploration drilling will continue to help inform the Boda-Kaiser mine design. A seven-line induced polarisation (IP) survey was completed over the Haddington prospect in 2025. The IP survey measured the chargeability and resistivity of the subsurface to a depth of approximately 400m and has highlighted both chargeability and resistivity anomalies that may be an indication of mineralised porphyry systems. Four significant chargeability anomalies supported by previous and/or historical geochemistry were tested by RC drilling at the Haddington and Glen Hollow prospects within the Comobella Intrusive Complex (CIC). The CIC geology comprises a package andesites and latites, intruded by significant monzonite with shoshonitic magmatic affinities. Localised hydrothermal breccia/skarn gold-copper mineralisation is associated with the monzonites. At Haddington, two RC drill holes for a total of 800m were completed.

Total Shareholder Yield	n/a
Future Dividend Yield	2.5%
Dividend Growth	n/a
Next dividend pay date	n/a
Ex dividend date	n/a
Dividend per share	n/a
Payout ratio	n/a

Segment	Dividend Yield
Company (ALK)	n/a
Market Bottom 25% (AU)	2.7%
Market Top 25% (AU)	6.6%
Industry Average (Metals and Mining)	3.4%
Analyst forecast (ALK) (up to 3 years)	2.5%

Data	Last Updated (UTC time)
Company Analysis	2026/07/20 02:30
End of Day Share Price	2026/07/20 00:00
Earnings	2026/03/31
Annual Earnings	2025/06/30

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

Analyst	Institution
David Coates	Bell Potter
Brian Quast	BMO Capital Markets Equity Research
Lord Ashbourne	Edison Investment Research

Alkane Resources Dividends and Buybacks

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Key information

Recent dividend and buyback updates

Recent updates

Brunswick South Drilling Confirms Major High-Grade Gold-Antimony Extension for Alkane Resources

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Consensus EPS estimates increase by 14%

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Investor sentiment improves as stock rises 20%

Alkane Resources Limited Announces Boda-Kaiser Regional Exploration Update

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Third quarter 2026 earnings released: EPS: AU$0.068 (vs AU$0.013 in 3Q 2025)

Alkane Resources Ltd. Provides Consolidated Production Guidance for the Fiscal Year 2026

Alkane Resources Ltd to Report Q3, 2026 Results on May 15, 2026

Alkane Resources Ltd. Reaffirms Group Production Guidance for the Fiscal Year 2026

Investor sentiment improves as stock rises 20%

Alkane Resources Limited Announces Change of Joint Company Secretary

Alkane Resources Limited Advances Near-Mine Kendal Deposit with High Grade Antimony-Gold Intercepts At Costerfield

Alkane Resources Limited Announces the Latest Exploration Results and Drilling for the Underground Expansion of Existing Resources At Its Tomingley Gold Operations in New South Wales

Now 23% undervalued

Adavale Resources Limited (ASX:ADD) entered into an agreement to acquire Package of Exploration Licences of Alkane Resources Ltd (ASX:ALK) for AUD 0.26 million.

Upgrade: Analysts Just Made A Sizeable Increase To Their Alkane Resources Ltd (ASX:ALK) Forecasts

High Grade Mine Ramp Ups And Copper Project Will Reshape Long Term Earnings Profile

Second quarter 2026 earnings released: EPS: AU$0.05 (vs AU$0.003 in 2Q 2025)

Alkane Resources Ltd Provides Consolidated Production Guidance for the Fiscal Year 2026

Consensus EPS estimates increase by 19%

Alkane Resources Ltd to Report Q2, 2026 Results on Feb 13, 2026

Non-Executive Director recently sold AU$730k worth of stock

Consensus EPS estimates increase by 12%

Price target increased by 10% to AU$1.86

Consensus EPS estimates increase by 98%

Alkane Resources Ltd. Provides Group Production Guidance for Fiscal Year 2026

We Believe That Alkane Resources' (ASX:ALK) Weak Earnings Are A Good Indicator Of Underlying Profitability

Alkane Resources Limited Appoints Denise Mccomish as Independent Non-Executive Director and Chair of Audit & Risk Committee, Effective 1 December 2025

Consensus EPS estimates fall by 55%, revenue upgraded

Why We Think Alkane Resources Ltd's (ASX:ALK) CEO Compensation Is Not Excessive At All

New minor risk - Earnings quality

First quarter 2026 earnings released: AU$0.002 loss per share (vs AU$0.019 profit in 1Q 2025)

Alkane Resources Ltd Reiterats Production Guidance for Fiscal Year 2026

Alkane Resources Ltd to Report Q1, 2026 Results on Nov 13, 2025

Alkane Resources Limited Announces the Latest Results for Underground Expansion and Pre- Mine Grade Control Drilling Around the Existing Resources At the Company's Tomingley Gold Operations in Central New South Wales

Consensus EPS estimates fall by 21%

Price target increased by 8.1% to AU$1.60

Alkane Resources Limited Announces Resignation of Dominic Duffy from the Board

Consensus EPS estimates increase by 48%

New minor risk - Insider selling

Non-Executive Director recently sold AU$27m worth of stock

Price target increased by 7.0% to AU$1.37

Alkane Resources Ltd, Annual General Meeting, Nov 26, 2025

Investor sentiment improves as stock rises 18%

Alkane Resources Ltd Provides Group Guidance for the Period from July 2025 to June 2026 and Attributable Guidance for the Period from August 2025 to June 2026

Consensus EPS estimates fall by 17%

Investor sentiment improves as stock rises 19%

Consensus revenue estimates increase by 46%

Analyst Forecasts For Alkane Resources Ltd (ASX:ALK) Are Surging Higher

Full year 2025 earnings: EPS and revenues miss analyst expectations

Alkane Resources Limited Provides the Latest Exploration Results for Drilling in the Region Around the Tomingley Gold Operations in Central New South Wales

Consensus EPS estimates fall by 12%

Market Participants Recognise Alkane Resources Ltd's (ASX:ALK) Earnings Pushing Shares 26% Higher

Price target increased by 13% to AU$1.02

New major risk - Shareholder dilution

Alkane Resources Ltd (ASX:ALK) completed the acquisition of Mandalay Resources Corporation (TSX:MND) from GMT Capital Corp., CE Mining Fund III L.P., managed by Plinian Capital LLP and others in a merger of equals transaction.

Consensus EPS estimates fall by 11%

New major risk - Revenue and earnings growth

Third quarter 2025 earnings released: EPS: AU$0.013 (vs AU$0.003 loss in 3Q 2024)

Price target decreased by 15% to AU$0.88

Alkane Resources Ltd (ASX:ALK) agreed to acquire Mandalay Resources Corporation (TSX:MND) from GMT Capital Corp., CE Mining Fund III L.P., managed by Plinian Capital LLP and others for approximately CAD 500 million in a merger of equals transaction.

Alkane Resources Ltd's (ASX:ALK) 33% Jump Shows Its Popularity With Investors

Consensus EPS estimates increase by 12%

Alkane Resources Ltd Announces High-Grade Intercepts in Resource Expansion Drilling At Tomingley Gold Operations

Price target increased by 7.8% to AU$0.92

Consensus EPS estimates increase by 13%

Consensus EPS estimates fall by 10%

First half 2025 earnings released: EPS: AU$0.022 (vs AU$0.021 in 1H 2024)

Even With A 28% Surge, Cautious Investors Are Not Rewarding Alkane Resources Ltd's (ASX:ALK) Performance Completely

Consensus EPS estimates increase by 18%