(GLOBE NEWSWIRE via COMTEX) --
PERTH, Australia, Feb. 23, 2026 (GLOBE NEWSWIRE) -- Alkane Resources Limited (ASX: ALK; TSX: ALK; OTCQX: ALKRY) ('Alkane' or 'the Company') is pleased to announce the latest exploration results and drilling for the underground expansion of existing resources at its Tomingley Gold Operations (Tomingley) in New South Wales.
Program Summary
- Exploration drilling at Tomingley has tested a seismic reflector feature beneath the Roswell Deposit and near-mine prospects such as El Paso. Underground drilling at Roswell, outside of grade control, has focused on improving confidence in the Inferred Resources.
- Roswell underground resources (1.3g/t Au cut-off) are estimated at 5.5Mt grading 2.6g/t Au for an endowment of 476,000 oz Au1. A previous exploration drill hole (RWD061) was extended to 1,392m depth to intersect a seismic reflector identified ~400m below current resources. The drilling identified the east dipping reflector as gold-arsenic enriched hydrothermal breccias and veining.
- A program of underground drilling at Roswell targeting the Inferred Resources hosted by the Western Monzodiorite domain was completed. Results for this program testing the mid-portion of the domain to a nominal 15m x 20m grid spacing were received from the final 21 drill holes, totalling 4,019m. The program has confirmed multiple high-grade gold zones within the monzodiorite.
- Exploration drilling of 7 diamond core drill holes at the El Paso prospect and 1 RC drill hole at the Westray prospect. All drilling intersected quartz veining with gold-arsenic mineralisation, hosted in the prospective Mingelo Volcanic stratigraphy.
Assay Highlights
- Roswell Seismic target (RWD061): - 8.7 m grading 1.15g/t Au including 3 m grading 2.78g/t Au;
- 0.3 m grading 11.4g/t Au;
- 2 m grading 5.90g/t Au.
- Roswell Western Monzodiorite underground drilling: - 5.9 m grading 31.0g/t Au including 2.1 m grading 78.4g/t Au (ROSUG657D);
- 17.4 m grading 4.30g/t Au including 2.5 m grading 21.1g/t Au (ROSUG644D);
- 3.5 m grading 16.1g/t Au including 1.2 m grading 45.1g/t Au (ROSUG425D);
- 0.6 m grading 69.2g/t Au (ROSUG656D).
- El Paso exploration drilling: - 17 m grading 4.02g/t Au including 0.5 m grading 77.5g/t Au (EPD020);
- 8 m grading 2.10g/t Au (EPD020).
Alkane Managing Director & CEO Nic Earner said: "Our continuing exploration at Tomingley reveals both extensions to our deposits, which remain open at depth and along strike, as well as new areas of mineralisation. This drilling demonstrates the significant resource expansion potential across the mine site, we look forward to revealing this potential, both near mine and regionally around Tomingley."
1 Refer to ALK Announcement dated 15 October 2025 titled 'NSW Resources and Reserves Statements FY25'.
Tomingley Gold Operations (TGO)
Alkane Resources Ltd 100%
Tomingley Gold Mine is an open pit and underground mining development with a 1Mtpa processing facility in operation since 2014. The development is located near the village of Tomingley, approximately 50 kilometres southwest of Dubbo in Central West New South Wales. Tomingley Gold Operations Pty Ltd is a wholly owned subsidiary of Alkane.
Development at Tomingley has been based on the Wyoming One, Wyoming Three, Caloma, Caloma Two and Roswell gold deposits. To date, mining occurred underground at Wyoming One, Caloma, Caloma Two and Roswell deposits. Roswell stope ore production came on stream in April 2024 (ASX Announcement 22 April 2024) via an approximately 3 km decline from the Wyoming One open cut.
The Tomingley deposits are located within a tightly folded Ordovician volcano-sedimentary sequence that has been altered to a sericite-carbonate-albite-quartz-pyrite-arsenopyrite assemblage, typical of orogenic lode-style gold deposits. Mineralised fluids are interpreted to have been focused by differential strain in and around andesitic volcanics due to the rheological competency contrast between the volcanics and the bounding volcaniclastic sediments. The brittle nature of the volcanics often leads to the development of shear-hosted sheeted quartz vein and breccia deposits within and adjacent to the andesitic bodies. Separately, thin carbonaceous mudstone strata appear to have been a focus for shearing and a chemical trap for gold.
Since underground mining commenced in 2018, extensive underground drilling has been employed to define ore reserves for extraction and maintain exploration to define additional resources. The most recent Reserves and Resources were summarised in the ASX release on 15 October 2025 "NSW Resources and Reserves Statements FY25".
Roswell
The Roswell underground resources (1.3g/t Au cut-off) are estimated at 5.5Mt grading 2.6g/t Au for 476 oz Au (see table titled TGO Mineral Resources at 30 June 2025). The previously deepest exploration drill hole (RWD061 - ASX announcement 17 November 2022) at Roswell was completed to 1,002m. This hole was recently extended by another 390m with HQ3 diamond core drilling to intersect a seismic reflector identified by the reprocessed 2D seismic survey data in 2024 (see ASX announcement 7 October 2024). This reflector, identified in three 2D seismic traverses, is dipping ~30o to the east with more than a 5km strike length, is interpreted to be a major fault or conduit for the upwelling of gold-arsenic enriched hydrothermal fluids to the Tomingley gold system.
The drill hole intersected several hydrothermal breccias, and quartz veining in a similar orientation to the seismic reflector surrounded by an intense silicification alteration halo hosted in volcaniclastic metasediments. Visible gold was observed in one of the breccias. The reflector zone was also characterised by zones of intense arsenopyrite mineralisation associated with low gold grades, such as 7 metres grading 0.16g/t Au and >0.5% As from 1,176 metres. Footwall to the seismic reflector, the hole intersected the down dip and normal offset extensions to the Western Monzodiorite (MZD) that was also mineralised. In summary, significant gold intercepts from the extension of RWD061 include:
RWD061 8.7 metres grading 1.15g/t Au from 1104.3 metres;
incl 3 metres grading 2.78g/t Au from 1110 metres;
and 0.3 metres grading 11.4g/t Au from 1208.9 metres (visible Au);
and 2 metres grading 5.90g/t Au from 1232 metres (MZD);
and 1 metre grading 2.44g/t Au from 1291 metres (MZD).
The reflector where intersected by RWD061 is hosted by metasediments. As observed at the Tomingley deposits, higher gold grades and broader intercepts will likely occur where mineralised structures intersect a favourable rheological and chemical host lithologies such as the andesite or monzodiorite at Roswell. Further drilling is planned in the areas above and below RWD061 to test where the conduit structure intersects the Andesite and the MZD. The flexure in the reflector albeit in the metasediments of the Cotton Formation is also a favourable structural setting and is also planned to be tested.
RWD061 - Subvertical meta-sediments with cross-cutting shallow east dipping sheeted quartz-arsenopyrite veins and breccias (7m interval grading 0.16g/t Au and >0.5% As from 1,176 m).
A significant portion of the Roswell underground Inferred Resources (408 kt grading 1.9 g/t Au - ASX Announcement 15 October 2025) is hosted in the Western Monzodiorite domain. A program of intensive underground diamond core drilling targeting the mid-portion of the Western Monzodiorite domain within the Inferred Resources was recently completed. The drilling will improve the confidence of the Mineral Resource Estimation (MRE) and provide a basis for conversion to Ore Reserves.
Results have been received from 21 holes totalling 4,019 metres that are targeting the mid-portion of the monzodiorite domain infilling existing drilling to a nominal 15m x 20m grid spacing for the purpose of converting to an Indicated Resource. The drilling confirmed multiple wide, high-grade gold intercepts within the 30 m thick monzodiorite, particularly along its western margin. Best intercepts include:
ROSUG425D 3.5 metres grading 16.1 g/t Au from 155.8 metres;
incl 1.2 metres grading 45.1 g/t Au from 158.1 metres.
ROSUG576D 0.6 metres grading 20.7 g/t Au from 128.3 metres;
and 12.8 metres grading 1.96 g/t Au from 157 metres;
incl 1 metres grading 14.0 g/t Au from 157 metres.
ROSUG647D 10.1 metres grading 3.81 g/t Au from 110.6 metres.
ROSUG656D 3.6 metres grading 7.31 g/t Au from 187 metres;
incl 1 metres grading 24.6 g/t Au from 189.6 metres;
and 1.3 metres grading 38.7 g/t Au from 195.6 metres.
ROSUG657D 0.5 metres grading 13.5 g/t Au from 151.3 metres;
and 3.7 metres grading 3.62 g/t Au from 168.7 metres;
and 5.9 metres grading 31.0 g/t Au from 177.9 metres;
incl 2.1 metres grading 78.4 g/t Au from 177.9 metres.
El Paso and Regional Exploration
Recent regional exploration to generate new targets for discovery of gold resources outside of the Tomingley Gold Operations has included 3,341 metres of air-core drilling testing areas of covered bedrock, a high-resolution drone magnetic survey, and rock chip sampling of outcropping areas. Assay results were received from target testing exploration comprising of seven mud rotary pre-collared diamond core drill holes at the El Paso prospect and one RC drill hole at the Westray prospect.
At El Paso, a total of 1,964 metres were completed to test the extent of dacite-associated gold mineralisation such as 32.1m at 1.65g/t Au from 66.9m and 6.1m at 3.03g/t from 120.9m (EPD017 - ASX announcement 14 August 2025), according to the interpretation of a moderately SE-dipping sill. When most of the holes failed to intersect the dacite, the interpretation was reviewed with the data from the new drilling and relogging of earlier holes. The new interpretation has three distinct dacite lavas that strike NNE and dip subvertical to the WNW. One drill hole (EPD024) was also planned to test for an offset to the dacite northwest of a significant northwest striking fault. The drilling did not intersect dacite. Whilst the current drilling orientation was not optimal to test this new interpretation and any future drilling will be now collared from the west, significant gold mineralisation was still intercepted including:
EPD020 17 metres grading 4.02 g/t Au from 82 metres;
incl 3.8 metres grading 14.1 g/t Au from 89 metres;
incl 0.5 metres grading 77.5 g/t Au from 92.3 metres;
and 8 metres grading 2.10 g/t Au from 133 metres.
EPD021 9.6 metres grading 0.80 g/t Au from 60 metres;
incl 1 metres grading 4.41 g/t Au from 64 metres.
EPD022 2 metres grading 1.18 g/t Au from 97 metres;
and 6 metres grading 0.99 g/t Au from 107 metres.
Previous air-core and soil sampling identified the Westray prospect as a multipoint Au-As target hosted in the prospective Mingelo Volcanics (ASX announcement 14 August 2025). The prospect had not been previously tested by RC or diamond drilling. One RC drill hole was recently completed to 194m to test the shallow gold mineralisation at depth in fresh rock, intersecting significant results of:
WSRC001 1 m grading 2.49 g/t Au from 115 metres;
and 6 m grading 0.59 g/t Au from 143 metres.
The drill hole intersected a thick package of volcaniclastic metasediments with one thin andesitic volcanic with diffuse peperitic contacts. Approximately 100m of bleaching sericite alteration with varying levels of quartz veining associated with elevated gold and arsenic was intersected from 95m downhole. Further exploration is to focus on identifying a significantly sized (+30m thick) volcanic host that intersects this mineralised structure.
Further Work
Surface exploration drilling at Tomingley mine site has commenced with diamond core drilling to test the underground potential at the Wyoming Three deposit, and the northern extensions of the main andesite host at Caloma.
The recent significant gold results from the underground drilling of the Western Monzodiorite domain has initiated a second phase of drilling that will test the upper and lower portions of the Inferred domain. This program is underway and expected to be completed by Q3 2026.
Near-mine exploration has recommenced with two diamond core drill holes planned to further characterise the mineralisation identified at the Tomingley One and Tomingley Two prospects. A 1,600m deep diamond core drill hole, to test beneath the Peak Hill epithermal gold deposits for the existence of a Cu-Au porphyry beneath the epithermal gold lithocap.
Planned to commence in Q2 2026 are four diamond core drill holes at Glen Isla to test epithermal gold targets generated from an Induced Polarisation (IP) survey completed in 2025. Additional mud rotary diamond core drilling at El Paso is also planned to confirm the updated geological model and to test for extensions to the known mineralisation to inform the exploration target.
TGO Mineral Resources
TOMINGLEY GOLD OPERATION MINERAL RESOURCES (as at 30 June 2025)
MEASURED INDICATED INFERRED TOTAL Total Gold
DEPOSIT Tonnage Grade Tonnage Grade Tonnage Grade Tonnage Grade
(kt) (g/t Au) (kt) (g/t Au) (kt) (g/t Au) (kt) (g/t Au) (koz)
Open Pittable Resources (cut off 0.40g/t Au)
San Antonio 0 0.0 5,930 1.8 1,389 1.3 7,319 1.7 406
Sub Total 0 0.0 5,930 1.8 1,389 1.3 7,319 1.7 406
Underground Resources (cut off 1.3g/t Au)
Wyoming One 1033 2.7 636 2.2 104 2.1 1,772 2.5 140
Wyoming Three 46 2.2 24 2.0 20 1.9 90 2.1 6
Caloma One 598 2.2 795 2.1 17 1.5 1,410 2.2 98
Caloma Two 368 2.3 1499 2.3 362 2.0 2,229 2.3 162
Roswell 2,649 2.9 2487 2.6 408 1.9 5544 2.6 476
McLeans 870 2.5 870 2.5 70
Sub Total 4,694 2.7 5,441 2.4 1,781 2.2 11,915 2.5 952
TOTAL 4,694 2.7 11,371 2.1 3,170 1.8 19,234 2.2 1,358
Apparent arithmetic inconsistencies are due to rounding
These Mineral Resources are wholly inclusive of Ore Reserves.
TGO Ore Reserves
TOMINGLEY GOLD OPERATION ORE RESERVES(as at 30 June 2025)
PROVED PROBABLE TOTAL Total Gold
DEPOSIT Tonnage Grade Tonnage Grade Tonnage Grade
(Kt) (g/t Au) (Kt) (g/t Au) (Kt) (g/t Au) (Koz)
Open Pittable Reserves (cut off 0.40g/t Au)
San Antonio 0 0.0 4,100 1.6 4,100 1.6 214
Stockpiles 314 1.1 0 0 314 1.1 11
Sub Total 314 1.1 4,100 1.6 4,414 1.6 225
Underground Reserves (cut off 1.3g/t Au and 1.6g/t Au for Roswell)
Wyoming One 26.4 1.8 1 1.2 27 1.8 2
Caloma One 134.7 1.7 337.4 1.5 472 1.6 24
Caloma Two 38.4 1.5 936.2 1.7 975 1.7 53
Roswell 2,365 2.3 2,109 2.1 4,474 2.2 316
Sub Total 2,564 2.3 3,383 1.9 5,948 2.1 396
TOTAL 2,878 2.1 7,483 1.7 10,362 1.9 621
Apparent arithmetic inconsistencies are due to rounding
The above tables were published in ASX Announcement dated 15 October 2025 and titled 'NSW Resources and Reserves Statement FY25'.
Table 1 - TOMINGLEY GOLD OPERATIONS SIGNIFICANT RESULTS ROSWELL - February 2026 (>1.3g/t)
Hole ID Easting (MGA) Northing (MGA) RL (m) Dip Azimuth (Grid) Total Depth Interval From (m) Interval To (m) Intercept (m) Au(g/t) Ore Zone
ROSUG416D 613966 6390772 -144 -29 292 186 122.7 134.4 11.7 2.47
incl 123.4 126.1 2.7 6.28
and 145.4 146.3 0.9 1.35
ROSUG425D 613966 6390771 -144 -32 277 188.5 119.4 120.8 1.4 5.31
and 127 129.3 2.3 1.89
and 134.4 136.6 2.2 3.35
and 141 142.3 1.3 1.65
and 155.8 159.3 3.5 16.1
incl 158.1 159.3 1.2 45.1
ROSUG566D 613966 6390772 -144 -33 291 194.3 130.7 137.9 7.2 1.54
incl 132 134 2 3.16
and 147.9 148.9 1 5.90
and 170.1 171.3 1.2 2.40
ROSUG570D 613966 6390772 -144 -30 282 192 123 124.1 1.1 2.78
and 128.9 129.7 0.8 2.24
and 162.8 165 2.2 2.20
ROSUG571D 613966 6390772 -144 -35 282 204 129.1 131.9 2.8 2.97
and 140.2 142.9 2.7 1.68
and 168 169.2 1.2 3.69
ROSUG575D 613966 6390771 -144 -28 278 179.8 155.4 156.9 1.5 2.10
ROSUG576D 613966 6390771 -144 -35 278 194.7 128.3 128.9 0.6 20.7 Western
and 135.1 140.7 5.6 1.31 Monzodiorite
incl 135.1 136.5 1.4 3.55
and 157 169.8 12.8 1.96
incl 157 158 1 14.0
ROSUG580D 613966 6390771 -144 -31 270 191.8 122.1 123 0.9 1.18
and 137.2 138 0.8 2.02
and 153.5 155.9 2.4 2.36
ROSUG643D 613966 6390770 -143 2 244 187.6 169.2 171 1.8 4.59
ROSUG644D 613966 6390770 -142 14 257 174 118.2 135.6 17.4 4.30
incl 129.5 132 2.5 21.1
and 153.1 154.3 1.2 3.87
ROSUG645D 613966 6390770 -143 -1 243 190.3 175.5 178.1 2.6 5.51
ROSUG646D 613966 6390770 -144 -12 247 183 148.9 150.7 1.8 1.52
and 168 176.7 8.7 1.30
incl 168 169 1 3.78
ROSUG647D 613966 6390770 -142 12 271 150 110.2 120.3 10.1 3.81
incl 112.9 116.8 3.9 6.30
and 138.6 139.2 0.6 3.02
ROSUG648D 613966 6390770 -142 9 277 144 111.1 122.6 11.5 2.16
incl 111.1 112 0.9 7.75
also 113.9 115.2 1.3 5.76
and 127.1 128.7 1.6 1.49
and 129.7 131 1.3 1.54
ROSUG651D 613966 6390769 -143 -3 253 164.8 147 148 1 2.37
ROSUG652D 613965 6390769 -143 -4 248 177 No significant intercept (<1.3g/t Au)
ROSUG653D 613966 6390770 -144 -22 241 189 174 178.2 4.2 1.45
incl 176.9 178.2 1.3 3.00
ROSUG656D 613966 6390770 -144 -18 242 203.6 161 166 5 1.48
and 187 190.6 3.6 7.31
incl 189.6 190.6 1 24.6
and 195.6 196.9 1.3 38.7
incl 195.6 196.2 0.6 69.2
ROSUG657D 613966 6390769 -144 -23 254 195 126.2 127.3 1.1 1.87
and 151.3 151.8 0.5 13.5
and 168.7 172.4 3.7 3.62
and 177.9 183.8 5.9 31.0
incl 177.9 180 2.1 78.4
ROSUG658D 613965 6390769 -144 -27 246 224.7 148.9 149.9 1 5.53
and 162.8 167 4.2 1.78 Western
and 175.3 186 10.7 2.44 Monzodiorite
incl 184 185 1 16.9
and 195 196 1 1.48
ROSUG670D 614123 6390769 65 -10 256 304.9 246 248 2 2.13
and 256.1 261.7 5.6 1.32
incl 260.9 261.7 0.8 3.50
RWD061* 614446 6390759 269 -64 266 1392.7 1104.3 1113 8.7 1.15
incl 1110 1113 3 2.78
and 1208.9 1209.2 0.3 11.4
and 1232 1234 2 5.90
and 1291 1292 1 2.44
True widths are approximately 80% of intercept width. Reported intercepts (>1.3g/t Au) are calculated using a broad lower cut of 1.0g/t Au although grades lower than this may be present internally (internal dilution).
Table 2 - TOMINGLEY GOLD PROJECT SIGNIFICANT GOLD RESULTS - February 2026 (>0.2g/t Au)
Hole ID Easting (MGA) Northing (MGA) RL (m) Dip Azimuth (Grid) Total Depth Interval From (m) Interval To (m) Intercept (m) Au (g/t) Prospect
EPD018 613283 6387782 266 -61 317 309.5 190.3 192 1.7 0.43
and 235 237 2 0.38
and 243 246 3 0.34
EPD019 613373 6387704 266 -63 302 479 No significant results or dacite
EPD020 613352 6387965 265 -61 320 204.7 66 66.9 0.9 0.24
and 82 99 17 4.02
incl 89 92.8 3.8 14.1
incl 92.3 92.8 0.5 77.5
and 133 141 8 2.1 El Paso
EPD021 613251 6387864 266 -61 338 282.7 60 69.6 9.6 0.8
incl 64 65 1 4.41
and 87 89 2 0.83
and 115 116 1 0.61
and 240.2 242.9 2.7 0.56
EPD022 613210 6388044 265 -60 318 135.1 97 99 2 1.18
and 107 113 6 0.99
incl 108.2 110 1.8 2.08
EPD023 613309 6388105 265 -61 323 198.7 73 73.7 0.7 1.26
EPD024 613347 6388548 265 -61 274 354 197 200 3 0.28
WSRC001 612158 6382395 265 273 -60 194 115 116 1 2.49 Westray
and 143 149 6 0.59
True widths are approximately 50% of intercept width at El Paso and unknown at Westray.
Competent Person
Unless otherwise advised above or in the Announcements referenced, the information in this announcement that relates to exploration results, mineral resources and ore reserves is based on information compiled by Mr David Meates, MAIG, (Exploration Manager NSW) who has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Meates consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.
Cautionary Note Regarding Forward-Looking Information and Statements
This announcement contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation and may include future-oriented financial information or financial outlook information (collectively Forward-Looking Information). Actual results and outcomes may vary materially from the amounts set out in any Forward-Looking Information. As well, Forward-Looking Information may relate to: future outlook and anticipated events; expectations regarding exploration potential; production capabilities and future financial or operating performance, including AISC, investment returns, margins and share price performance; production and cost guidance and the timing thereof; issuing updated resources and reserves estimate and the timing thereof; the potential of Alkane to meet industry targets, public profile and expectations; and future plans, projections, objectives, estimates and forecasts and the timing related thereto.
Forward-Looking Information is generally identified by the use of words like "will", "create", "enhance", "improve", "potential", "expect", "upside", "growth" and similar expressions and phrases or statements that certain actions, events or results "may", "could", or "should", or the negative connotation of such terms, are intended to identify Forward-Looking Information.
Although Alkane believes that the expectations reflected in the Forward-Looking Information are reasonable, undue reliance should not be placed on Forward-Looking Information since no assurance can be provided that such expectations will prove to be correct. Forward-Looking Information is based on information available at the time those statements are made and/or good faith belief of the officers and directors of Alkane as of that time with respect to future events and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in or suggested by the Forward-Looking Information. Forward-Looking Information involves numerous risks and uncertainties. Such factors include, without limitation: risks relating to changes in the gold and antimony price.
Forward-Looking Information is designed to help readers understand Alkane's views as of that time with respect to future events and speak only as of the date they are made. Except as required by applicable law, Alkane assumes no obligation to update or to publicly announce the results of any change to any forward-looking statement contained or incorporated by reference herein to reflect actual results, future events or developments, changes in assumptions or changes in other factors affecting the Forward-looking Information. If Alkane updates any one or more forward-looking statements, no inference should be drawn that the company will make additional updates with respect to those or other Forward-looking Information. All Forward-Looking Information contained in this announcement is expressly qualified in its entirety by this cautionary statement.
Disclaimer
Alkane has prepared this announcement based on information available to it. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions or conclusions contained in this announcement. To the maximum extent permitted by law, none of Alkane, its directors, officers, employees, associates, advisers and agents, nor any other person accepts any liability, including, without limitation, any liability arising from fault or negligence on the part of any of them or any other person, for any loss arising from the use of this announcement or its contents or otherwise arising in connection with it.
This announcement is not an offer, invitation, solicitation, or other recommendation with respect to the subscription for, purchase or sale of any security, and neither this announcement nor anything in it shall form the basis of any contract or commitment whatsoever.
This document has been authorised for release to the market by Nic Earner, Managing Director and CEO.
ABOUT ALKANE - www.alkres.com - ASX:ALK | TSX: ALK | OTCQX: ALKRY
Alkane (ASX:ALK; TSX:ALK; OTCQX:ALKRY) 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 km 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
APPENDIX 1
JORC Code, 2012 Edition - Table 1 report - Tomingley Gold Project February 2026
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections.)
Criteria JORC Code explanation Commentary
Sampling techniques Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. Drilling at Roswell Western MZD Inferred Resources as part of mine development underground drilling was NQ2. Exploration diamond core drilling was HQ3.
DD sample intervals were defined by site geologists during logging to honour geological boundaries with whole core sampled on intervals defined by the geologist.
RC and AC samples are collected at one metre intervals via a cyclone on the rig. The cyclone is cleaned regularly to minimise any contamination
Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. Sampling and QAQC procedures are carried out using Alkane protocols as per industry best practice.
Aspects of the determination of mineralisation that are Material to the Public Report. In cases where 'industry standard' work has been done this would be relatively simple (eg 'reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay'). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information. Core was laid out in suitably labelled core trays. A core marker (core block) was placed at the end of each drilled run (nominally 3m) and labelled with the hole number, down hole depth, length of drill run. Core was aligned and measured by tape, comparing back to this down hole depth consistent with industry standards. Half core is sampled with a Corewise automatic core saw.
RC and AC Drilling - the total sample ( 20-30kg) is delivered via cyclone into a large plastic bag which is retained for future use if required. A sub-sample of approximately 1kg is spear sampled from each plastic bag and composited to make a 3 metres sample interval. If strong mineralisation is observed by the site geologist this is sampled as a final 1m interval instead.
Gold was determined by fire assay fusion of a 50g charge with an AAS analytical finish.
A multi-element suite was determined using either aqua regia or a multi-acid digest with a ICP Atomic Emission Spectrometry or ICP Mass Spectrometry analytical finish..
Drilling techniques Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc). Reverse circulation (RC) drilling using 110mm rods 144mm face sampling hammer.
Triple tube diamond drilling with PQ3/HQ3 wireline bit producing 83mm diameter (PQ3) and 61.1mm diameter (HQ3) sized orientated core (using a Reflex orientation tool). In areas of deep cover, the collars were emplaced using mud rotary through the cover sequence and not sampled. Underground drilling at Roswell were drilled using NQ2.
Air-core (AC) drilling using 89mm rods and bit to refusal.
Drill sample recovery Method of recording and assessing core and chip sample recoveries and results assessed. DD - core loss was identified by drillers and calculated by geologists when logging. Core was only lost in the saprolite for approximately greater-than or equal to95% recovery in the oxide material.
RC and AC sample quality is assessed by the sampler by visual approximation of sample recovery and if the sample is dry, damp or wet.
Measures taken to maximise sample recovery and ensure representative nature of the samples. Sample quality is qualitatively logged.
A high capacity RC rig was used to enable dry samples collected. Drill cyclone is cleaned between rod changes and after each hole to minimise cross-hole contamination.
A high capacity AC rig was used to maximise penetration through the clays to refusal on fresh bedrock. Drill cyclone was cleaned after each hole to minimise cross-hole contamination.
Triple tube coring is used at all times to maximise core recovery for diamond drilling. All NQ2 core was whole sampled to ensure representativity of sampling.
Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material. There is no known relationship between sample recovery and grade.
Logging Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. DD - all core was laid out in core trays and geologically logged for characteristics such as lithology, weathering, alteration (type, character and intensity), veining (type, character and intensity) and mineralisation (type, character and volume percentage). A brief geotechnical log was also undertaken collecting parameters such as core recovery, RQD, fracture count, and fracture type and orientation.
RC/AC - Each one metre interval is geologically logged for characteristics such as lithology, weathering, alteration (type, character and intensity), veining (type, character and intensity) and mineralisation (type, character and volume percentage).
Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. Mostly logging was qualitative with visual estimates of the various characteristics. In addition, magnetic susceptibility data (quantitative) was collected as an aid for logging.
All drill holes were geologically logged into Geobank Mobile, followed by validation before importing into Alkane's central Geobank database.
All drill holes were logged by qualified and experienced geologists.
The total length and percentage of the relevant intersections logged. All drill holes were logged in full, except for the mud rotary technique through the cover sequence.
Sub-sampling techniques and sample preparation If core, whether cut or sawn and whether quarter, half or all core taken. HQ core sawn with half core samples submitted for analysis. NQ2 core whole sampled and submitted for analysis.
If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. Each one metre interval is spear sampled with 3m composite samples collected in a calico sample bag and forwarded to the laboratory. Where strong mineralisation is observed by the site geologist, instead of compositing, this is individually sampled from the cone splitter on the RC rig as a 1 metre interval into a calico bag and forwarded to the laboratory.
Laboratory Preparation - the entire sample ( 3kg) is dried and pulverised in an LM5 (or equivalent) to greater-than or equal to85% passing 75um. Bulk rejects for all samples are discarded. A pulp sample (±100g) is stored for future reference.
For all sample types, the nature, quality and appropriateness of the sample preparation technique. Samples were delivered to ALS Minerals Laboratory, Orange NSW. Crushed with 70% <2mm (ALS code CRU-31), split by riffle splitter (ALS code SPL-21), and pulverised 1000grm to 85% <75um (ALS code PUL-32). Crushers and pulverisers are washed with QAQC tests undertaken (ALS codes CRU-QC, PUL-QC).
Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. Internal QAQC system in place to determine accuracy and precision of assays.
Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling. Entire core sampling was undertaken for NQ2. Non-biased core cutting for HQ using an orientation line marked on the core.
Duplicate RC and AC samples are collected for both composite intervals and re-split intervals.
Whether sample sizes are appropriate to the grain size of the material being sampled. Sample sizes are considered appropriate to the grain size of the material being sampled.
Quality of assay data and laboratory tests The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. All samples were analysed by ALS Minerals.
Gold is determined using a 50g charge fused at approximately 1100°C with alkaline fluxes, including lead oxide. The resultant prill is dissolved in aqua regia with gold determined by flame AAS.
Other geochemical elements, DD core and bottom of hole AC samples are digested by near-total mixed acid digest with each element determined by ICP Atomic Emission Spectrometry or ICP Mass Spectrometry. RC and AC samples are digested by aqua regia with a ICP Atomic Emission Spectrometry for As, Cu, Fe, Ni, P, Pb only.
For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. Not applicable to this report or deposit as no geophysical tools, spectrometers, handheld XRF instruments were used.
Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established. Commercially prepared Certified Reference Materials (CRM) are inserted at 1 in 40 samples. CRM's are not identifiable to the laboratory.
Field duplicate samples are inserted at 1 in 40 samples (alternate to CRM's).
Laboratory QAQC sampling includes insertion of CRM samples, internal duplicates and screen tests. This data is reported for each sample submission.
Failed standards result in re-assaying of portions of the affected sample batches.
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