Costerfield – True Blue Exploration Update

Alkane Resources Limited (ASX: ALK; TSX: ALK; OTCQX: ALKRY) (‘Alkane’ or ‘the Company’) is pleased to announce the latest exploration results for extension and infill drilling of the True Blue deposit, located 2 km west of the active underground workings at its Costerfield Operation in central Victoria, Australia.

An additional 33 holes targeting the Freeman veining within the True Blue deposit have been drilled since Alkane’s previous update (ASX announcement 15 October 2025 titled ‘Costerfield Resource and Reserve Statement). The new drilling predominantly targeted infill of the upper portion of the deposit and has significantly increased confidence in understanding the vein geometry and grade-controlling structures. The higher resolution granted by the infill drilling indicates there is further veining complexity that serves to break-up a previously interpreted high-grade panel. Current and future exploration drilling will target along-strike repetitions of mineralisation at True Blue both to the north and south, and investigate the link between it and the West Costerfield prospect.

True Blue Assay Highlights From Freeman (700) Vein: 57.6g/t gold and 25.4% antimony over 0.25m (ETW 0.17m) in TB055 20.9g/t gold and 19.5% antimony over 0.31m (ETW 0.22m) in TB057 4.3g/t gold and 6.4% antimony over 0.8m (ETW 0.63m) in TB080 30.1g/t gold and 14.8% antimony over 0.27m (ETW 0.17m) in TB065 From associated veins 84.1g/t gold and 15.4% antimony over 0.48m (ETW 0.36m) in TB084 (702 splay) 17.9g/t gold and 1.7% antimony over 3.2m (ETW 1.4m) in TB053 (705 vein) 19.3g/t gold and 29.3% antimony over 0.22m (ETW 0.16m) in TB079 11.2g/t gold and 5.7% antimony over 0.77m (ETW 0.54m) in TB055