Alkane Resources Delivers Record FY26 Profit and Declares Maiden Dividend

• Net profit after tax of A $228.7 million, up 590% from A$33.0 million in FY25
• Revenue of A$935.8 million, up 257% from A$262.4 million in FY25
• Combined gold equivalent production of 168,337 ounces, up from 70,120 ounces in FY25
• Maiden fully franked dividend of 2.0 cents per share declared
• FY27 group production guidance reaffirmed at 163,000 to 177,000 gold equivalent ounces

Alkane Resources Limited (ASX: ALK; TSX: ALK; OTCQX: ALKRY) is an Australia-based gold and antimony producer operating three mines: Tomingley in New South Wales, Costerfield in Victoria, and Björkdal in Sweden. The company became a multi-asset, dual commodity producer in August 2025 following its merger with Mandalay Resources Corporation, which added the Costerfield and Björkdal mines to its existing Tomingley operation. Alkane also holds the Boda-Kaiser gold-copper project in New South Wales, which is at scoping study stage, along with additional exploration ground in the surrounding region.

Record FY26 Net Profit After Tax of A$228.7 Million, Up 590% on Revenue of A$935.8 Million From Three-Mine Portfolio

Alkane's audited results for the year ended 30 June 2026 show net profit after tax of A$228.7 million, up from A$33.0 million in FY25. Revenue reached A$935.8 million, up 257% from A$262.4 million. This was Alkane's first full financial year operating as a combined group following the merger with Mandalay Resources Corporation.

Combined gold equivalent production across the three mines was 168,337 ounces, up from 70,120 ounces in FY25. Gold sales rose to 164,878 ounces, an increase of 136%. The average price Alkane received for its gold was A$5,664 per ounce, up from A$3,770 per ounce in FY25. Alkane uses "gold equivalent ounces," or AuEq, to express combined gold and antimony output as a single production figure.

Alkane finished the year with cash and bullion of A$438.9 million, up from A$60.3 million, and total cash, bullion and listed investments of A$454 million. Earnings per share rose to 17.69 cents from 5.46 cents, up 224%.

Alkane Managing Director and CEO Nic Earner said:

"FY26 was a transformational year for Alkane. The merger with Mandalay created a three-mine gold and antimony producer of scale, and record production, revenue and profit in our first year as a combined group demonstrate the quality of the business we have built."

Maiden Fully Franked 2.0 Cents Per Share Dividend Declared Reflecting Balance Sheet Strength and Board Confidence in Outlook

Alkane's Board has declared the company's maiden dividend, a fully franked payment of 2.0 cents per share, its first dividend since listing as a multi-mine producer. A fully franked dividend carries a tax credit for company tax Alkane has already paid on the underlying profit, which is applied to eligible Australian shareholders.

The dividend has an ex-dividend date of 7 September 2026 and a record date of 8 September 2026, meaning shareholders who hold Alkane shares by that date qualify for the payment. It is payable to eligible shareholders on 1 October 2026.

Alkane Managing Director and CEO Nic Earner said:

"The declaration of Alkane's maiden dividend is a significant milestone in the Company's history, and reflects both the strength of our balance sheet and the Board's confidence in the outlook for the Company."

FY27 Guidance Reiterated at 163,000 to 177,000 Gold Equivalent Ounces With A$160 Million to A$190 Million Growth Capital Program Across Tomingley, Costerfield and Björkdal

Alkane has reaffirmed the FY27 guidance it issued to the ASX in July 2026: group gold equivalent production of 163,000 to 177,000 ounces, at an all-in sustaining cost of A2,900toA3,200 per ounce. All-in sustaining cost, or AISC, is an industry measure of the total cost of producing each ounce, including mining, processing and sustaining capital. Alkane is not aware of any new information that would materially affect this guidance, and the assumptions behind it continue to apply.

By operation, Tomingley is guided to produce 78,000 to 84,000 ounces, Costerfield 44,000 to 48,000 ounces, and Björkdal 41,000 to 45,000 ounces. Group growth capital is guided at A$160 million to A$190 million, made up of A$90 million to A$100 million for Tomingley, A$30 million to A$40 million for Costerfield, and A$40 million to A$50 million for Björkdal.

Alkane's exploration budget for FY27 is A$45 million to A$53 million, with a further A$10 million to A$12 million allocated to the Boda-Kaiser project and other exploration.

Milestones and Next Steps

FY26 was Alkane's first full year as a combined three-mine producer following the Mandalay merger, closing with record financial results and the declaration of its first dividend. The dividend is due to be paid to eligible shareholders on 1 October 2026. Guidance for FY27 has been reaffirmed at 163,000 to 177,000 gold equivalent ounces across Tomingley, Costerfield and Björkdal, supported by a growth capital program of A$160 million to A$190 million and an exploration budget of A$45 million to A$53 million.

‍