September 2025 Quarterly Production Update

• Quarterly gold production of 36,407 AuEq oz, comprised of:^1,2

	Mine	Group Production (1 Jul – 30 Sep 2025)		Statutory Production (5 Aug – 30 Sep 2025)
	Tomingley	18,335 Au oz		18,335 Au oz
	Costerfield	8,612 Au oz 198 Sb t 9,492 AuEq oz		5,643 Au oz 124 Sb t 6,189 AuEq oz
	Björkdal	8,580 Au oz		5,987 Au oz
	Consolidated	35,527 Au oz 198 Sb t 36,407 AuEq oz		29,965 Au oz 124 Sb t 30,511 AuEq oz

• Cash, bullion and listed investment balance of A$191 million, after the repayment of the A$45 million debt facility and one-off transaction costs of A$25 million from the merger with Mandalay Resources.
• FY2026 Group Guidance of 160,000 AuEq oz to 175,000 AuEq oz production at an AISC of A$2,600 - $2,900 per AuEq oz remains unchanged.³

PERTH, Australia, Oct. 09, 2025 (GLOBE NEWSWIRE) -- Alkane Resources Ltd (‘Alkane’) (ASX:ALK, TSX:ALK, OTC:ALKEF) has produced 36,407 ounces of gold equivalent over the period from 1 July 2025 to 30 September 2025.^1,2 This period included the expected slower production at Björkdal over the Swedish extended summer vacation period. Cash ($160m), bullion ($14m) and listed investments ($17m) totalled A$191 million at the end of the quarter. During the quarter A$45 million of debt was re-paid, one-off transaction costs of A$25 million from the merger with Mandalay were incurred and hedging of 7,250 ounces of gold was filled. Further details will be available in the full September 2025 Quarterly Report later this month.

Alkane Managing Director, Nic Earner, said:

“It has been a significant quarter with the merger with Mandalay completing in early August. Alkane now has three operating mines who together produced 35,527 ounces of gold and 198 tonnes of antimony (36,407 ounces of gold equivalent) over the full quarter.^1,2 With the repayment of our A$45 million debt and the one-off transaction costs of A$25 million behind us we have a very solid balance sheet with A$191 million in cash, bullion and listed investments at quarter end.”