Alkane Resources Reports New High-Grade Intercepts at Brunswick South, Central Victoria

• Alkane completed 91 additional drill holes at Brunswick South, with the standout intercept returning 50.1 g/t gold and 26.2% antimony over 2.17 metres in hole BD468
• Drilling confirmed grade continuity between the newly identified deeper gold zone and the historical near-surface workings
• The deeper Kiwi Zone shows a geological setting the company describes as similar to the Youle deposit, currently being mined at Costerfield
• A new parallel vein structure was identified approximately 200 metres west of Brunswick South, with follow-up drilling planned
• Capital development toward Brunswick South begins this quarter, with an updated resource estimate and an initial ore reserve expected later in 2026

Alkane (ASX:ALK; TSX:ALK; OTCQX:ALKRY) is an Australia-based gold and antimony producer operating three mines across Australia and Sweden. The company runs the Tomingley gold mine in central New South Wales, the Costerfield gold-antimony operation in Victoria (where Brunswick South is located), and the Björkdal gold mine in Sweden. Alkane also holds the Boda-Kaiser gold-copper project in New South Wales, along with additional exploration ground nearby. The company describes itself as having a strong balance sheet positioned for further growth.

High-Grade Drilling Extends the Brunswick South Deposit

The latest drilling programme at Brunswick South adds 91 new holes to Alkane's database, building on results first reported in October 2025. The deposit is located 400 metres south of the previously mined Brunswick vein and 200 metres from planned underground access at Costerfield.

The best result from the new drilling came from hole BD468, which intersected 50.1 g/t gold and 26.2% antimony over 2.17 metres. Other notable results included 109.9 g/t gold over 0.65 metres in BD433 and 50.2 g/t gold with 33.3% antimony over 0.86 metres in BD424. Gold grades above 10 g/t are generally considered high-grade in the mining industry, and antimony, a metal used in flame retardants, batteries, and other industrial applications, adds further value to these intercepts.

The drilling also identified a connection in grade continuity between the new high-grade zone and the previously known near-surface resource, an area Alkane had targeted for infill testing to establish whether the two zones were economically linked.

Kiwi Zone Points to a Familiar Geological Pattern

A deeper section of the deposit, known as the Kiwi Zone, returned results including 25 g/t gold over 1.7 metres in hole BD513. Recent geological interpretation indicates that the setting for mineralisation in this zone is similar to that of the Youle deposit, which is currently being mined at Costerfield.

Alkane also noted that mineralisation across Brunswick South tends to shift with depth, moving from antimony-rich intercepts near the surface to gold-dominant mineralisation with less antimony toward the Kiwi Zone. The company observed that this same pattern occurs in the Youle and Shepherd system at a deeper level, which suggests the zonation may occur on a per-deposit basis.

In addition to the Kiwi Zone results, drilling intercepted a previously unknown parallel structure approximately 200 metres west of Brunswick South, referred to as the Brunswick West target. An intercept of 8.4 g/t gold and 1.3% antimony over 0.32 metres was recorded in hole BD475, and follow-up drilling on this structure is scheduled.

Development Set to Begin This Quarter, With Key Studies Due Later in 2026

Alkane has confirmed that capital development toward Brunswick South will commence in the current quarter. The information from this drilling programme has been incorporated into the Costerfield mine schedule.

Later in 2026, Alkane plans to release an updated Mineral Resource Estimate for Brunswick South alongside its broader Costerfield Resource and Reserve Statement. This update will also include an initial Ore Reserve for the deposit.

Alkane Managing Director and CEO, Nic Earner, said:

"Focused extension and infill drilling at Brunswick South over the previous year has produced highly encouraging results. This newly defined deposit not only contains pockets of high gold endowment, but critically a significant quantity of antimony. Excitingly Brunswick South can be brought online without extensive access requirements as it is situated 200m from existing development. We are commencing development towards Brunswick South in the current quarter and are looking to establish it as a primary production source for Costerfield."

Milestones and Next Steps

Capital development at Brunswick South is scheduled to begin this quarter. Alkane has also outlined further drilling targets, including deeper testing of the Kiwi Fault structure, infill drilling between the Brunswick and Brunswick South deposits, and continued testing of the Brunswick West structure. The updated Mineral Resource Estimate and initial Ore Reserve for Brunswick South are expected as part of Alkane's upcoming Resource and Reserves Statement later in 2026.

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