Alkane Resources Completes Infill Drilling Programme at True Blue, Updates Freeman Vein Model

• Alkane Resources completed 33 drill holes at the True Blue deposit, part of its Costerfield operation, totalling 19,012 metres since its October 2025 update.
• Drilling focused on infilling the upper portion of the Freeman Vein to improve confidence in its geometry and grade distribution.
• Drill hole TB055 returned the highest Freeman Vein grade of the programme, at 57.6 grams per tonne gold and 25.4% antimony over 0.25 metres.
• Drill hole TB084 intersected a linking zone between two associated veins, returning 84.1 grams per tonne gold and 15.4% antimony over 0.48 metres, the highest grade result overall.
• The infill drilling shows the Freeman Vein consists of multiple sheeted veins rather than a single continuous zone, and future drilling will test along-strike extensions to the north and south, as well as a possible link to the West Costerfield prospect.

Alkane Resources (ASX:ALK; TSX:ALK; OTCQX:ALKRY) is an Australia-based gold and antimony producer. The company operates three producing mines: Tomingley in Central West New South Wales, Costerfield in Central Victoria, and Björkdal in Sweden. Alkane also holds the Boda-Kaiser gold-copper project in New South Wales, where a development pathway has been outlined through a scoping study, and continues regional exploration across its operating districts. Alkane reports a strong balance sheet position.

33-Hole Infill and Extension Drilling Program Refining Freeman Vein Geometry at True Blue Deposit

True Blue is located roughly two kilometres west of Alkane's active underground workings at Costerfield. Since its October 2025 update, Alkane has drilled 33 additional holes at True Blue for a combined 19,012 metres, with most of the work infilling the upper section of the deposit between existing drill holes. Infill drilling reduces the spacing between data points, which allows the vein geometry and grade distribution to be modelled with greater confidence.

The strongest result from the Freeman Vein came from hole TB055, which intersected 57.6 grams per tonne gold and 25.4% antimony over 0.25 metres, or an estimated true width of 0.17 metres once the angle of the vein relative to the drill hole is accounted for. Other intercepts included 30.1 grams per tonne gold and 14.8% antimony in hole TB065, and 20.9 grams per tonne gold and 19.5% antimony in hole TB057.

The most recent hole, TB084, intersected a broad zone of veining interpreted as a linking structure between two secondary veins near the Freeman Vein. This interval returned 84.1 grams per tonne gold and 15.4% antimony over an estimated true width of 0.36 metres, the highest grade recorded in the programme.

Revised Geological Model Revealing Sheeted Vein Complexity and Updated Grade-Controlling Structure Understanding

The additional drilling has changed how the Freeman Vein is interpreted. Earlier models treated it as a single, largely continuous zone of higher-grade mineralisation. The tighter drill spacing shows instead that the vein consists of a series of closely spaced, near-vertical veins running north to south, a structure described as sheeted veining, along with linking structures that cross between them at oblique angles.

Two geological structures bound the mineralised zone. The Wombat Fault forms its upper limit, while the Komodo Fault marks its lower boundary and has displaced the vein system by an estimated 1,000 metres from its original position. Some mineralisation has also been observed below the Komodo Fault, in an area Alkane has identified as a target for further drilling.

Alkane Managing Director and CEO Nic Earner said:

"The infill drilling of True Blue gives us the geological confidence needed to proceed with our plans for development of the deposit. The geological context gained from the drilling has also enhanced the model for further targeting along the True Blue Corridor. True Blue is certainly more complex than our original estimates, we are encouraged by the progress made and excited by the targets yet to be tested."

Future Exploration Targeting Along-Strike Repetitions and West Costerfield Prospect Connection

Exploration through FY26-27 will focus on testing along-strike extensions of the Freeman Vein system. Soil sampling north of the current resource indicates the mineralised trend may extend several hundred metres further, supported by an antimony-anomalous rock outcrop identified at surface. To the south, a 2024 drill hole intersected gold-antimony mineralisation approximately 550 metres from the current resource boundary, in an area Alkane has identified as a potential repetition of the same geological structure hosting the Freeman Vein.

At depth, several holes have intersected mineralised veins below the Komodo Fault. This zone has not yet been directly targeted and has been identified by Alkane as having potential to host a further mineralised system. To the east, Alkane is also examining a possible structural connection between True Blue and the West Costerfield prospect, located approximately 800 metres away, where the same bounding fault comes closer to the surface.

Alkane has stated that these exploration targets are conceptual. There has been insufficient drilling to classify any of these areas as a mineral resource, and it remains uncertain whether further exploration will result in one being defined.

Milestones and Next Steps

The completion of the 33-hole programme precedes Alkane's next disclosure for the project, an updated True Blue resource estimate to be released as part of its upcoming Resource and Reserves Statement. Drilling through FY26-27 will test the along-strike and depth targets identified through this programme.

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