Alkane Delivers Profit After Tax of A$33 Million for FY2025

Alkane Resources Limited (ASX:ALK; TSX:ALK; OTCQX:ALKEF) (‘Alkane' or ‘the Company') results for the year ended 30 June 2025 are attached. The table below is a summary of the financial results:

Alkane had a profitable year while operating the Roswell underground deposit. The increase in the gold produced reflects higher grade ore and recoveries via the fine grind circuit upgrade. This resulted in gold produced of 70,120 ounces and at an all-in sustaining cost (AISC) of A$2,561 per ounce.

As at 30 June 2025 the company's cash, bullion and listed investments totaled A$60.3 million, with A$48.1 million in cash, bullion on hand at fair value of A$12.2 million and A$8.0 million of listed investments at market value.

Post year end, Alkane resources Limited (ASX:ALK) and Mandalay Resources Corporation (TSX:MND,OTC:MNDJF) shareholders both voted to approve the "merger of equals" between the two companies which was effective from the 5 ^th August 2025.

Alkane Managing Director, Nic Earner, said: " Alkane's profit comes in year that included high capital growth spending at Tomingley to increase recoveries and extend the mine life. With the merger with Mandalay completed post financial year end we are well positioned for the upcoming financial year for both production and growth.

"Alkane's Board and management acknowledge and thank the employees and contractors of the Company for their strong and continued commitment to safety, production and exploration performance. "

This document has been authorised for release to the market by Nic Earner, Managing Director & CEO.

Disclaimer

Nothing in this report should be construed as either an offer to sell or a solicitation of an offer to buy or sell securities.

This report contains certain forward-looking statements and forecasts, including possible or assumed reserves and resources, production levels and rates, costs, prices, future performance or potential growth of the Company, growth or other trend projections. These statements are based on expectations as at the date of the report. Forward-looking statements inherently involve known and unknown risks, uncertainties and other factors outside of Alkane's control and actual results, performance and achievements may differ materially from those expressed or implied from these forward-looking statements depending on a variety of factors. Alkane makes no representation, assurance or guarantee as to the accuracy or likelihood or fulfilment of any forward-looking statement or any outcomes expressed or implied in any forward-looking statement. You should not put undue reliance on forward-looking statements.

ABOUT ALKANE ‐ www.alkane.com.au ‐ ASX:ALK | TSX: ALK | OTCQX: ALKEF

Alkane Resources (ASX:ALK; TSX:ALK; OTCQX:ALKEF) is an Australia-based gold and antimony producer with a portfolio of three operating mines across Australia and Sweden. The Company has a strong balance sheet and is positioned for further growth.

Alkane's wholly owned producing assets are the Tomingley open pit and underground gold mine southwest of Dubbo in Central West New South Wales, the Costerfield gold and antimony underground mining operation northeast of Heathcote in Central Victoria, and the Björkdal underground gold mine northwest of Skellefteå in Sweden (approximately 750km north of Stockholm). Ongoing near-mine regional exploration continues to grow resources at all three operations.

Alkane also owns the very large gold-copper porphyry Boda-Kaiser Project in Central West New South Wales and has outlined an economic development pathway in a Scoping Study. The Company has ongoing exploration within the surrounding Northern Molong Porphyry Project and is confident of further enhancing eastern Australia's reputation as a significant gold, copper and antimony production region.

CONTACT: NIC EARNER, MANAGING DIRECTOR & CEO, ALKANE RESOURCES LTD, TEL +61 8 9227 5677
INVESTORS & MEDIA: NATALIE CHAPMAN, CORPORATE COMMUNICATIONS MANAGER, TEL +61 418 642 556