Tomingley Drilling Discovers New Mineralisation at McLeans

Underground core drilling at Tomingley is focused on defining extensions to resources as well as improving confidence of Inferred Resources at McLeans and the Western Monzodiorite domain at Roswell. Both McLeans and the Western Monzodiorite are immediately adjacent to existing underground infrastructure. Underground drilling comprising of 9 diamond holes for a total of 3,247 metres was completed to improve the confidence of the Inferred Resource at McLeans. This drilling discovered a second andesite with significant gold mineralisation, located approximately 150m to the west of the current resource. Significant gold intercepts hosted by the western andesite include:

MCLUG013D
incl 26 metres grading 4.36 g/t Au from 112 metres;
3.3 metres grading 22.8 g/t Au from 112.7 metres. MCLUG012D 10.7 metres grading 2.09 g/t Au from 105 metres.MCLUG011D
incl 8 metres grading 2.33 g/t Au from 113 metres;
0.8 metres grading 14.4 g/t Au from 118 metres. MCLUG007D
and 5.2 metres grading 1.62 g/t Au from 99.9 metres;
6.1 metres grading 2.65 g/t Au from 113 metres. MCLUG006D
incl 7.8 metres grading 3.46 g/t Au from 120 metres;
1.0 metres grading 10.1 g/t Au from 126 metres.

Significant drilling intercepts within the McLeans Inferred Resource hosted by the eastern andesite comprise:

MCLUG012D and 10 metres grading 1.31 g/t Au from 284 metres; 3.7 metres grading 1.66 g/t Au from 314.1 metres. MCLUG010D 0.5 metres grading 38.9 g/t Au from 332.5 metres.MCLUG007D incl
and
incl 8 metres grading 2.67 g/t Au from 293.2 metres; 3.1 metres grading 4.52 g/t Au from 298.1 metres;8 metres grading 4.38 g/t Au from 320 metres; 2 metres grading 12.6 g/t Au from 320 metres. MCLUG005D 10 metres grading 1.54 g/t Au from 276 metres.

An intensive underground diamond core drilling program within and extensions to the current Inferred Resource hosted by the Western Monzodiorite domain at Roswell is in progress. Results have been received from 89 holes totalling 18,064 metres that were focussed within the mid-portion of the monzodiorite domain infilling existing drilling to a nominal 15m x 20m grid spacing for the purpose of converting to an Indicated Resource. The drilling confirmed multiple wide, high-grade gold intercepts within the 30m thick monzodiorite. Best intercepts include:

ROSGT001D
incl
and 9.3 metres grading 3.88 g/t Au from 157.9 metres; 1.1 metres grading 10.5 g/t Au from 157.9 metres;
1.8 metres grading 2.05 g/t Au from 177.2 metres. ROSUG050D 25.6 metres grading 1.94 g/t Au from 276.1 metres.ROSUG426D 24.2 metres grading 2.65 g/t Au from 115.3 metres.ROSUG430D 12.1 metres grading 5.44 g/t Au from 115.3 metres.ROSUG440D
incl 6.5 metres grading 8.03 g/t Au from 166.5 metres; 0.9 metres grading 37.3 g/t Au from 171.6 metres. ROSUG442D
incl 3.9 metres grading 12.2 g/t Au from 160.1 metres; 1.2 metres grading 25.4 g/t Au from 162 metres. ROSUG458D
and
and
and 16 metres grading 1.67 g/t Au from 276.4 metres; 5 metres grading 1.59 g/t Au from 304 metres;
5 metres grading 3.19 g/t Au from 316 metres;
5.1 metres grading 2.82 g/t Au from 328 metres. ROSUG564D
and 14 metres grading 2.19 g/t Au from 119 metres; 2.8 metres grading 3.94 g/t Au from 140.2 metres. ROSUG572D
incl 12.4 metres grading 3.00 g/t Au from 109 metres; 0.7 metres grading 30.6 g/t Au from 115.6 metres. ROSUG584D
and
inc 3.2 metres grading 2.04 g/t Au from 128 metres; 7.9 metres grading 14.6 g/t Au from 154 metres;
1.1 metres grading 84.4 g/t Au from 154 metres. ROSUG595D
and
and 3.2 metres grading 1.99 g/t Au from 158.8 metres;
2 metres grading 2.02 g/t Au from 165 metres;
9.5 metres grading 4.73 g/t Au from 170 metres.

Additional exploration drilling is planned to test the underground potential at Wyoming Three, extensions to mineralisation north of Caloma and a deep structural target (thrust splay identified by 2D seismic) beneath Roswell. Underground exploration drilling continues at Roswell.

PERTH, Australia, Nov. 02, 2025 (GLOBE NEWSWIRE) -- Alkane Resources Limited (ASX:ALK; TSX:ALK; OTCQX:ALKEF) (‘Alkane’ or ‘the Company’) is pleased to announce the latest results for underground expansion and pre-mine grade control drilling around the existing resources at the Company’s Tomingley Gold Operations (‘Tomingley’) in Central New South Wales.

Alkane Managing Director Nic Earner said: “Most of Tomingley’s deposits are open at depth and along strike. This drilling further demonstrates not only the significant resource expansion potential across the mine site but the potential to discover other deposits.

“Our underground and surface drill programs throughout Tomingley continue. We look forward to continuing to add further resources and mine life.”

Tomingley

AlkaneResourcesLtd100%

Tomingley is an open pit and underground mining development with a 1Mtpa processing facility in operation since 2014. The development is located near the village of Tomingley, approximately 50 kilometres southwest of Dubbo in Central West New South Wales. Tomingley Gold Operations Pty Ltd is a wholly owned subsidiary of Alkane.

Development at Tomingley has been based on the Wyoming One, Wyoming Three, Caloma, Caloma Two and Roswell gold deposits. To date, mining occurred underground at Wyoming One, Caloma, Caloma Two and Roswell deposits. Roswell stope ore production came on stream in April 2024 (See ASX Announcement dated 22 April 2024 and titled ‘Production Ore Extraction Commences at Roswell’) via an approximately 3 km decline from the Wyoming One open cut.

The Tomingley deposits are located within a tightly folded Ordovician volcano-sedimentary sequence that has been altered to a sericite-carbonate-albite-quartz-pyrite-arsenopyrite assemblage that is typical of orogenic lode-style gold deposits. Mineralised fluids are interpreted to have been focused by differential strain in and around andesitic volcanics due to the rheological competency contrast between the volcanics and the bounding volcaniclastic sediments. The brittle nature of the volcanics often leads to the development of shear-hosted sheeted quartz vein and breccia deposits within and adjacent to the andesitic bodies. Separately, thin carbonaceous mudstone strata appear to have been a focus for shearing and a chemical trap for gold.

Since underground mining commenced in 2018, extensive underground drilling has been employed to define ore reserves for extraction and maintain exploration to define additional resources. The most recent Reserves and Resources were summarised in the ASX Announcement dated 15 October 2025 and titled ‘NSW Resources and Reserves Statements FY25’.

The exploration focus at Tomingley is to define additional underground resources that lie outside the existing Resources and Reserves for the operation.

McLeans

The Inferred Resource at McLeans was estimated at 0.87 million tonnes grading 2.51g/t gold for 70,000oz (See ASX Announcement dated 2 May 2022 and titled ‘Roswell Mineral Resource up 37%’). The deposit is primarily hosted by one ‘brittle’ andesite with similar texture and geochemistry as the andesite that is host to most of the mineralisation at the Roswell deposit. The host andesite begins approximately 130m below the surface, is approximately 250m in strike length and remains open at depth. The andesite averages a thickness of 60m but thins to 25m along its upper and northern margins forming a ‘keel’. The mineralisation was interpreted to form three subvertical en échelon sheeted lodes. With high-grade ore shoots focused along the ‘keel’ that remains open at depth along the northern edge of the andesite.

In September, an underground drilling program comprising of 9 holes for a total of 3,247 metres was completed to improve the confidence at the McLeans Inferred Resource by infilling the drilling pattern to 40m x 60m. This drilling has discovered a second ‘western’ andesite with significant gold mineralisation that is located 150 metres west of the current McLeans resource estimation. Significant intercepts hosted by the Western Andesite include:

MCLUG013D
incl 26 metres grading 4.36g/t Au from 112 metres;
3.3 metres grading 22.8g/t Au from 112.7 metres. MCLUG012D 10.7 metres grading 2.09g/t Au from 105 metres.MCLUG011D
incl 8 metres grading 2.33g/t Au from 113 metres;
0.8 metres grading 14.4g/t Au from 118 metres. MCLUG007D
and 5.2 metres grading 1.62g/t Au from 99.9 metres;
6.1 metres grading 2.65g/t Au from 113 metres. MCLUG006D
incl 7.8 metres grading 3.46g/t Au from 120 metres;
1.0 metres grading 10.1g/t Au from 126 metres.

The nominal drilling pattern was reduced from 80m x 80m that the Inferred Resource was based on to 40m  x 60m to help improve the confidence in the estimation at McLeans. Significant intercepts into the Eastern Andesite and the Inferred Resource include:

MCLUG012D
and 10 metres grading 1.31g/t Au from 284 metres;
3.7 metres grading 1.66g/t Au from 314.1 metres. MCLUG010D 0.5 metres grading 38.9g/t Au from 332.5 metres.MCLUG009D 8 metres grading 1.85g/t Au from 301 metres.MCLUG007D
incl
and
incl 8 metres grading 2.67g/t Au from 293.2 metres;
3.1 metres grading 4.52g/t Au from 298.1 metres;
8 metres grading 4.38g/t Au from 320 metres;
2 metres grading 12.6g/t Au from 320 metres. MCLUG005D 10 metres grading 1.54g/t Au from 276 metres.

Further drilling is planned to test both the Eastern and Western Andesite hosts at McLeans and to include the discovered Western Andesite into the McLeans Resource Estimation.

Roswell

A significant portion of the Roswell underground Inferred Resources (408 kt grading 1.9 g/t Au – see ASX Announcement dated 15 October 2025 and titled ‘NSW Resources and Reserves Statement FY25’) is hosted in the Western Monzodiorite domain. An intensive underground diamond core drilling program targeting the Western Monzodiorite resource and its open extensions is in progress at Roswell. The drilling will improve the confidence of the Mineral Resource Estimation (MRE) and provide a basis for conversion to Ore Reserves.

Results have been received from 89 holes totalling 18,064 metres that are focused within the mid-portion of the monzodiorite domain infilling existing drilling to a nominal 15m x 20m grid spacing for the purpose of converting to an Indicated Resource. The drilling confirmed multiple wide, high-grade gold intercepts within the 30 m thick monzodiorite. The results received are a large part of the current drill program within the Western Monzodiorite and include best intercepts of:

ROSGT001D
incl
and 9.3 metres grading 3.88 g/t Au from 157.9 metres;
1.1 metres grading 10.5 g/t Au from 157.9 metres;
1.8 metres grading 2.05 g/t Au from 177.2 metres. ROSUG050D 25.6 metres grading 1.94 g/t Au from 276.1 metres.ROSUG426D 24.2 metres grading 2.65 g/t Au from 115.3 metres.ROSUG430D 12.1 metres grading 5.44 g/t Au from 115.3 metres.ROSUG440D
incl 6.5 metres grading 8.03 g/t Au from 166.5 metres;
0.9 metres grading 37.3 g/t Au from 171.6 metres. ROSUG442D
incl 3.9 metres grading 12.2 g/t Au from 160.1 metres;
1.2 metres grading 25.4 g/t Au from 162 metres. ROSUG458D
and
and
and 16 metres grading 1.67 g/t Au from 276.4 metres;
5 metres grading 1.59 g/t Au from 304 metres;
5 metres grading 3.19 g/t Au from 316 metres;
5.1 metres grading 2.82 g/t Au from 328 metres. ROSUG564D
and 14 metres grading 2.19 g/t Au from 119 metres;
2.8 metres grading 3.94 g/t Au from 140.2 metres. ROSUG572D
incl 12.4 metres grading 3.00 g/t Au from 109 metres;
0.7 metres grading 30.6 g/t Au from 115.6 metres. ROSUG584D 
and
incl 3.2 metres grading 2.04 g/t Au from 128 metres;
7.9 metres grading 14.6 g/t Au from 154 metres;
1.1 metres grading 84.4 g/t Au from 154 metres. ROSUG595D
and
and 3.2 metres grading 1.99 g/t Au from 158.8 metres;
2 metres grading 2.02 g/t Au from 165 metres;
9.5 metres grading 4.73 g/t Au from 170 metres.

Final results will be published when received and compiled.

Surface exploration drilling on the at Tomingley mine site will commence in November 2025. The diamond core drilling is planned to test the underground potential at Wyoming Three, extensions to mineralisation north of Caloma and to test a deep structural target (thrust splay identified by 2D seismic) beneath Roswell. Underground exploration drilling continues at Roswell.

Tomingley Mineral Resources

TOMINGLEY GOLD OPERATION MINERAL RESOURCES (as at 30 June 2025) MEASUREDINDICATEDINFERREDTOTALTotal Gold DEPOSITTonnageGradeTonnageGradeTonnageGradeTonnageGrade (kt)(g/t Au)(kt)(g/t Au)(kt)(g/t Au)(kt)(g/t Au)(koz)Open Pittable Resources (cut off 0.40g/t Au)San Antonio00.05,9301.81,3891.37,3191.7406Sub Total0.05,9301.81,3891.37,3191.7406Underground Resources (cut off 1.3g/t Au)Wyoming One10332.76362.21042.11,7722.5140Wyoming Three462.2242.0201.9902.16Caloma One5982.27952.1171.51,4102.298Caloma Two3682.314992.33622.02,2292.3162Roswell2,6492.924872.64081.955442.6476McLeans 8702.58702.570Sub Total4,6942.75,4412.41,7812.211,9152.5952TOTAL4,6942.711,3712.13,1701.819,2342.21,358

Apparent arithmetic inconsistencies are due to rounding
These Mineral Resources are wholly inclusive of Ore Reserves.

Tomingley Ore Reserves

TOMINGLEY GOLD OPERATION ORE RESERVES(as at 30 June 2025) PROVEDPROBABLETOTALTotal GoldDEPOSITTonnageGradeTonnageGradeTonnageGrade (Kt)(g/t Au)(Kt)(g/t Au)(Kt)(g/t Au)(Koz)Open Pittable Reserves (cut off 0.40g/t Au) San Antonio00.04,1001.64,1001.6214Stockpiles3141.1003141.111Sub Total3141.14,1001.64,4141.6225Underground Reserves (cut off 1.3g/t Au and 1.6g/t Au for Roswell) Wyoming One26.41.811.2271.82Caloma One134.71.7337.41.54721.624Caloma Two38.41.5936.21.79751.753Roswell2,3652.32,1092.14,4742.2316Sub Total2,5642.33,3831.95,9482.1396TOTAL2,8782.17,4831.710,3621.9621

Apparent arithmetic inconsistencies are due to rounding

The above tables were published in ASX Announcement dated 15 October 2025 and titled ‘NSW Resources and Reserves Statement FY25’.

Table 1 – TOMINGLEY GOLD OPERATIONS SIGNIFICANT RESULTS AT MCLEANS - October 2025 (>1.3g/t)Hole IDEasting (MGA)Northing (MGA)RL (m)DipAzimuth (Grid)Total DepthInterval From (m)Interval To (m)Intercept (m)Au(g/t)Ore ZoneMCLUG005D6140606391501-57382360276286101.54East Andesiteincl 28328633.12 MCLUG006D6140606391501-57174363120127.87.83.46West Andesiteincl 126127110.1 and 29930011.51 and 31031226.11East Andesiteincl 311.33120.712.1 and 332332.80.81.46 MCLUG007D6140606391501-58-57235799.9105.15.21.62 and 113119.16.12.65West Andesiteincl 113115.72.75.46 and 293.2301.282.67 incl 298.1301.23.14.52 and 307.83091.21.92East Andesiteand 32032884.38 incl 320322212.6 MCLUG008D6140606391501-58-778369.410010111.33 and 103104.31.31.43West Andesiteand 113116.33.33.56 and 284286.72.71.90East Andesiteincl 286286.70.75.39 MCLUG009D6140606391501-58-970348.4153.5154.10.62.49West Andesiteand 30130981.85East AndesiteMCLUG010D6140606391501-58-1282357.4106.5107.30.81.77West Andesiteand 332.53330.538.9East AndesiteMCLUG011D6140606391501-58-1676350.811312182.33West Andesiteincl 118118.80.814.4 MCLUG012D6140606391501-58-2481351.6105115.710.72.09West Andesiteincl 107.7112.753.35 and 284294101.31 incl 28428517.01 and 314.1317.83.71.66East Andesiteincl 316.8317.813.95 and 320.9321.30.41.33 MCLUG013D6140606391501-59-4181389.7112138264.36 incl 112.71163.322.8West Andesitealso 127.2128.81.68.59 and 373373.60.61.91East Andesite

True widths are approximately 80% of intercept width. Reported intercepts (>1.3g/t Au) are calculated using a broad lower cut of 1.0g/t Au although grades lower than this may be present internally (internal dilution).

Table 2 - TOMINGLEY GOLD OPERATIONS SIGNIFICANT RESULTS ROSWELL - October 2025 (>1.3g/t)Hole IDEasting (MGA)Northing (MGA)RL (m)DipAzimuth (Grid)Total DepthInterval From (m)Interval To (m)Intercept (m)Au(g/t)Ore ZoneROSGT001D6139286390716-68-49255246.5157.9167.29.33.88 incl 157.91624.16.72 incl 157.91591.110.5Western MZDalso 165.6166.40.87.7 and 177.21791.82.05 and 197197.80.81.52 and 202.6203.611.78 ROSUG016D6140706390825-132-5274302.9No significant intercept (