Alkane Significantly Increases Storheden Mineral Resource and Provides Exploration Update

Significantly Increases Storheden Mineral Resource and Provides Exploration Update

The Storheden Deposit is located approximately 700 m north of the Björkdal mine, with recent drilling intercepting gold-bearing Quartz veins along 2.7 km strike length and to a depth of 464 m. The mineralisation remains open in all directions.

16 extensional diamond drill holes were completed at Storheden during January-March 2026, intercepting high-grade mineralisation within target zones defined through previous drilling campaigns. The recent drilling has contributed to an improved understanding of the lithostructural controls on gold-bearing Quartz veins, defining units that form targets for follow-up drilling.

New modeling at Storheden including drilling over 2025 and 2026 has improved confidence, with inclusion of Indicated Resources, higher grade and significantly higher contained gold ounces.

Indicated Resources 1.07 Mt grading 2.51 g/t Au (87 koz) and; Inferred Resources 1.85 Mt grading 2.11 g/t Au (125 koz)

Details to follow in the annual NI43-101 Björkdal Technical document in September 2026

Assay Highlights From the Storheden Resource Growth campaign

36.1 g/t gold over 0.5 m (ETW 0.35 m) in SH26-004

50.9 g/t gold over 0.95 m (ETW 0.82 m) and 39.2 g/t gold over 0.6 m (ETW 0.46 m) in SH26-010

107.0 g/t gold over 0.4 m (ETW 0.35 m) in SH26-011

27.4 g/t gold over 0.70 m (ETW 0.49 m) in SH26-012

Note: ETW refers to the Estimated True Width of the intercept. A full list of significant Storheden Intercepts can be found in Appendix 1.

Storheden represents an exciting new growth prospect at Bj ö rkdal. The positive drilling results of this latest campaign begin to demonstrate the scale of the deposit, with the extent and depth continuity still unknown and open. Additionally, portions of the Mineral Resource have now been drilled to a density sufficient to estimate Indicated Resource. Encouraged by continued positive results coupled with the potential Storheden provides, Alkane will continue to define the extents of the deposit and lift confidence in resources alongside the commencement of mine development to Storheden and the progression of permitting requirements for extraction.

The Björkdal Gold Mine is located on the eastern margin of the Early Paleoproterozoic Skellefte Belt in northern Sweden, which hosts numerous base and precious metal deposits, including polymetallic massive sulphide (Zn-Cu-Pb-Au-Ag), meso- and epithermal gold, porphyry Cu, and magmatic Ni-Cu (figure 1). The mine is located approximately 30 km northwest of Skellefteå and 750 km north of Stockholm.

The deposit was discovered in 1983 by Terra Mining AB through a glacial till sampling program that identified anomalous gold values. Follow-up exploration led to the discovery of gold mineralisation in bedrock in 1985, with open pit mining commencing in July 1988. Underground mining started in 2008, while the open pit remained in operation until it was paused in 2019. Since production began in 1988, the Björkdal Mine has produced approximately 1.69 million ounces of gold.

The Björkdal and Storheden Deposits are hosted in volcanics and associated intrusives belonging to the regional Skellefte Group and located within a fold-and-...