Alkane Resources Begins Trading on Toronto Stock Exchange Following Merger

• Commenced trading on Toronto Stock Exchange under ticker "ALK" on 7 August 2025 
• Completed merger with Mandalay Resources Corporation through statutory plan of arrangement 
• Retains primary listing on Australian Securities Exchange 
• Operates three producing mines across Australia and Sweden 
• Acquired all outstanding Mandalay shares under Business Corporations Act (British Columbia)

Alkane Resources (ASX: ALK; TSX: ALK; OTCQX: ALKEF) is a gold and antimony producer operating three mines across Australia and Sweden. The company reports having a strong balance sheet following recent corporate activity.

The company's producing assets include the Tomingley open pit and underground gold mine in Central West New South Wales, the Costerfield gold and antimony underground operation in Central Victoria, and the Björkdal underground gold mine in Sweden. Alkane also holds the Boda-Kaiser gold-copper porphyry project in Central West New South Wales, for which the company has completed a scoping study outlining a development pathway.

TSX Listing Implementation

Alkane's shares began trading on the Toronto Stock Exchange at 9:30am EDT on 7 August 2025 under the ticker symbol "ALK". The company has maintained its existing ASX listing under the same ticker symbol as its primary listing.

The TSX listing provides Alkane with access to Canadian capital markets and North American investors. The dual-listing structure allows the company to maintain its established Australian shareholder base while expanding its potential investor pool.

The listing occurred two days after completing the Mandalay merger, with Mandalay's shares being delisted from the TSX at market close on 6 August 2025. Alkane has applied for Mandalay to cease being a reporting issuer under Canadian securities laws.

Merger Transaction Details

Alkane completed its acquisition of Mandalay Resources Corporation on 5 August 2025 through a statutory plan of arrangement under the Business Corporations Act (British Columbia). The transaction involved Alkane acquiring all issued and outstanding common shares of Mandalay.

The merger process followed the terms outlined in Mandalay's management information circular dated 24 June 2025, which is available through SEDAR+ and ASX platforms. The arrangement required regulatory approvals and shareholder votes from both companies.

Following completion, former Mandalay shareholders now hold Alkane shares, which trade on both the ASX and TSX. The transaction has been structured to provide continuity of market access for all shareholders involved in the arrangement.

Next Steps

Management will focus on integrating operations while maintaining production at existing sites. The company continues exploration programmes at its three operating mines and development work on the Boda-Kaiser project, which has been subject to economic evaluation through completed scoping studies.

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