Alkane Extends High-Grade Gold Mineralisation to Record Depth at Björkdal Mine in Sweden

• Twenty nine new drill holes at the Björkdal Gold Mine in Sweden returned gold intercepts including 86.1 g/t gold over 1.25 metres
• Drilling confirmed gold mineralisation to 762 metres below surface, the deepest intercept recorded at the mine to date
• The Eastern Extension delivered 169 ore grade intercepts, while the Northern Extension returned 68 ore grade intercepts
• Updated geological modelling has improved understanding of the vein structures that control gold grade at the mine
• Alkane plans further drilling in FY27 to test both target areas at depth and along strike

Alkane Resources Limited (ASX:ALK; TSX:ALK; OTCQX:ALKRY) is an Australia-based gold and antimony producer operating three mines across Australia and Sweden. Its producing assets include the Tomingley gold mine in New South Wales, the Costerfield gold and antimony operation in Victoria, and the Björkdal underground gold mine in Sweden. The company also holds the Boda-Kaiser gold-copper project in New South Wales, where a scoping study has outlined a development pathway. Alkane maintains near-mine exploration programmes at each of its operating mines and reports a strong balance sheet.

High Grade Drill Results Extend Eastern and Northern Zones

Alkane has released assay results from an extension and infill drilling programme at its Björkdal Gold Mine in northern Sweden. The work targeted two areas beneath the underground mine, the Eastern Extension and Northern Extension, and included 29 new holes drilled since the company's previous update in October 2025. The programme totalled more than 15,500 metres of diamond drilling.

The highest grade result came from hole MU25-030, which intersected 86.1 grams per tonne gold over 1.25 metres in the Eastern Extension. Other notable results in this zone included 81.3 g/t gold over 4.40 metres and 78.3 g/t gold over 0.30 metres. Grams per tonne, or g/t, is a standard measure of how much gold is contained within a tonne of rock; higher figures indicate richer ore.

Hole MU25-021 confirmed gold mineralisation 762 metres below surface, the deepest intercept recorded at Björkdal since production began in 1988. The Eastern Extension programme, comprising 13 holes over 6,304 metres, identified 169 ore grade intercepts in total.

Improved Geological Understanding Supports Resource Growth

The Northern Extension programme, comprising 16 holes and more than 9,200 metres of drilling, was designed to improve understanding of vein geometry and the structures that control gold grade in that part of the mine. The best result from this zone was 31.5 g/t gold over 0.85 metres, from hole MU26-002. In total, 68 ore grade intercepts were identified within the Northern Extension.

The programme confirmed previously identified vein clusters and supported a more detailed structural model of the area. Drilling has confirmed mineralised veins extending as far as 600 metres from existing underground development in the Northern Extension. Assessment of the western part of the target zone was limited by the number of available underground drill platforms rather than by geological factors.

Both the Eastern and Northern Extensions remain open at depth and along strike, meaning the mineralised system has not been closed off by the current drilling.

FY27 Programme to Test Depth and Strike Extensions

Alkane plans to continue drilling at both target areas through FY27, its next financial year.

At the Northern Extension, a dedicated underground drill platform is planned, intended to improve drilling angles and reduce scheduling overlap between exploration and mining activity, allowing further testing of the western part of the zone. At the Eastern Extension, future drilling will focus on step-out testing further along strike to the east.

Alkane Managing Director and CEO Nic Earner said:

"We are encouraged by the results coming from our near mine extension programs at Björkdal. The positive results indicate that the mineral system is still strong and open at depth. These results, together with the new resource at Storheden, support our confidence in the potential to increase production in addition to the longevity of the operation."

Milestones and Next Steps

The results follow Alkane's October 2025 resources and reserves statement for Björkdal, which reported an ore reserve of 13.05 million tonnes grading 1.29 g/t gold as of 30 June 2025. Since production began in 1988, the mine has produced approximately 1.69 million ounces of gold. The FY27 drilling programme at the Eastern and Northern Extensions is expected to be the next source of updates from the site.

‍