Mr. Nic Earner reports

DECEMBER 2025 QUARTERLY PRODUCTION UPDATE

Alkane Resources Ltd. produced 43,663 ounces of gold equivalent over the period from Oct. 1, 2025, to Dec. 31, 2025.1 Cash ($218-million (Australian)), bullion ($14-million (Australian)) and listed investments ($14-million (Australian)) totalled $246-million (Australian) at the end of the quarter. During the quarter, hedging of 8,200 ounces of gold was filled and the fiscal year 25 income tax payment of $11-million (Australian) was made. Further details will be available in the full December, 2025, quarterly report later this month.

Highlights:

• Quarterly gold production of 43,663 AuEq oz, comprising the following;

• Cash, bullion and listed investment balance of $246-million (Australian):
  • Increase of $55-million (Australian) from the previous quarter after payment of fiscal year 2025 income tax of $11-million (Australian);
  • Alkane also received an $18-million (Australian) provisional payment in early January from a Costerfield concentrate shipment that shipped in mid-December, with payment receipt delayed due to the Christmas holidays;
  • The company is debt-free except for equipment finance of $22-million (Australian) at Dec. 31, 2025;
• Sales of 42,709 ounces of gold and 409 tonnes of antimony;
• Fiscal year 2026 group guidance of 160,000 to 175,000 AuEq ounces production at an AISC (all-in sustaining cost) of $2,600 (Australian) to $2,900 (Australian) per AuEq ounce remains unchanged.

Alkane managing director Nic Earner said: "Alkane has had a solid quarter's production from our three operating mines, which together produced 42,767 ounces of gold and 267 tonnes of antimony (43,663 ounces of gold equivalent) over the quarter. Tomingley will pour its 750,000th ounce of gold during January, 2026, a great testament to the team there. We have further strengthened our balance sheet over the quarter with $246-million (Australian) in cash, bullion and listed investments at quarter-end."

About Alkane Resources Ltd.

Alkane Resources 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 Bjorkdal underground gold mine northwest of Skelleftea in Sweden (approximately 750 kilometres north of Stockholm). Continuing 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 continuing 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.

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