Record FY26 Net Profit After Tax of A$228.7 Million (up 590%)

PERTH, Australia, Aug. 21, 2026 (GLOBE NEWSWIRE) — Alkane Resources Limited (ASX: ALK, TSX: ALK, OTCQX: ALKRY) (‘Alkane’ or ‘the Company’) is pleased to release its results for the year ended 30 June 2026, with the Appendix 4E and full year statutory accounts attached. The table below is a summary of the financial results:

* Gold production is presented on a full year basis and includes production from the Costerfield and Björkdal operations for the period prior to completion of the merger with Mandalay Resources on 5 August 2025. Gold production for the statutory reporting period, which consolidates the Mandalay operations from the merger date, was 162,440 AuEq ounces.

Alkane delivered a record performance in FY26, the Company’s first year as a multi-asset gold and antimony producer following completion of the transformational merger of equals with Mandalay Resources Corporation on 5 August 2025. The enlarged group’s three operations – Tomingley in New South Wales, Costerfield in Victoria and Björkdal in Sweden – delivered record full year gold equivalent production of 168,337 ounces¹ which, combined with an average realised gold price of A$5,664 per ounce (FY25: A$3,770), drove record revenue, profit and cashflow. The Group closed the year with cash, bullion and listed investments of A$454 million.

Reflecting the record result and the strength of the balance sheet, the Board has declared Alkane’s maiden fully franked dividend of 2.0 cents per share in respect of FY26.

Alkane also re-iterates the FY27 guidance released to the ASX on 21 July 2026 group gold equivalent production of 163-177kozs gold equivalent ounces¹ at an all-in sustaining cost of $2,900-3,200 per ounce. Guidance by operation is set out under FY27 Guidance below.

Alkane Managing Director, 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. 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 – a confidence underlined by our FY27 guidance.

“Alkane’s Board and management thank the employees and contractors of the Company for their strong and continued commitment to safety, production and exploration performance.”

Dividend information

The key dates for the FY26 final dividend are as follows:

FY27 Guidance

Alkane re-iterates the FY27 guidance for the group released to the ASX on 21 July 2026, as set out below:

Alkane is not aware of new information materially affecting the guidance and its underlying assumptions continue to apply.

This document has been authorised for release to the market by Nic Earner, Managing Director & CEO.

¹Gold equivalent ounces calculated by multiplying quantities of gold and antimony in period by respective average market price of commodities in period, adding the two amounts to get ‘total contained value based on market price’ and dividing that total contained value by the average market price of gold in period. I.e., AuEq = ((Au Produced x Au $/oz) + (Sb Produced pre-payability x 70% payability x Sb $/t)) / (Au $/oz). The average market prices for the June quarter were $6,349/oz Au (being the average of the daily PM price, sourced from www.lbma.org.uk) and $30,675/t Sb (being the average Shanghai Metal Market Price sourced from www.metal.com). The AUD:USD exchange rate for the June quarter was 0.7098. Average market prices for the March, December and September quarters of FY26 were A$7,015/oz Au and A$29,449/t Sb; A$6,299/oz Au and A$30,245/t Sb; and A$5,283/oz Au and A$33,508/t Sb respectively, using AUD:USD exchange rates of 0.6946, 0.6565 and 0.6544. Metallurgical recoveries for gold and antimony are well established through current and historical plant performance. Antimony is recovered into a gold-antimony concentrate and sold under existing offtake arrangements. It is the Company’s opinion that all of the elements included in the metal equivalent calculation have a reasonable potential to be recovered and sold.

ABOUT ALKANE ‐ alkres.com ‐ ASX:ALK | TSX: ALK | OTCQX: ALKRY
Alkane Resources (ASX:ALK; TSX:ALK; OTCQX:ALKRY) is an Australia-based gold and antimony producer with a portfolio of three operating mines across Australia and Sweden. The Company has a strong balance sheet and is positioned for further growth.

Alkane’s wholly owned producing assets are the Tomingley open pit and underground gold mine southwest of Dubbo in Central West New South Wales, the Costerfield gold and antimony underground mining operation northeast of Heathcote in Central Victoria, and the Björkdal underground gold mine northwest of Skellefteå in Sweden (approximately 750km north of Stockholm). Ongoing near-mine regional exploration continues to grow resources at all three operations.

Alkane also owns the very large gold-copper porphyry Boda-Kaiser Project in Central West New South Wales and has outlined an economic development pathway in a Scoping Study. The Company has ongoing exploration within the surrounding Northern Molong Porphyry Project and is confident of further enhancing eastern Australia’s reputation as a significant gold, copper and antimony production region.

Interactive Analyst Centre™
Comprehensive financial, operational, resource and reserve information for Alkane Resources is available through the Interactive Analyst Centre™ located in the Investors section of our website at alkres.com.

Cautionary Note Regarding Forward-Looking Information and Statements
This announcement contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation and may include future-oriented financial information or financial outlook information (collectively “Forward-Looking Information”). Actual results and outcomes may vary materially from the amounts set out in any Forward-Looking Information. As well, Forward-Looking Information may relate to: future outlook and anticipated events; expectations regarding exploration potential; production capabilities and future financial or operating performance, including AISC, investment returns, margins and share price performance; production and cost guidance and the timing thereof; issuing updated resources and reserves estimate and the timing thereof; the potential of the Company to meet industry targets, public profile and expectations; and future plans, projections, objectives, estimates and forecasts and the timing related thereto. Forward-Looking Information is generally identified by the use of words like “will”, “create”, “enhance”, “improve”, “potential”, “expect”, “upside”, “growth” and similar expressions and phrases or statements that certain actions, events or results “may”, “could”, or “should”, or the negative connotation of such terms, are intended to identify Forward-Looking Information. Although Alkane believes that the expectations reflected in the Forward-Looking Information are reasonable, undue reliance should not be placed on Forward-Looking Information since no assurance can be provided that such expectations will prove to be correct. Forward-Looking Information is based on information available at the time those statements are made and/or good faith belief of the officers and directors of Alkane as of that time with respect to future events and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in or suggested by the Forward-Looking Information. Forward-Looking Information involves numerous risks and uncertainties. Such factors include, without limitation: risks relating to changes in the gold and antimony price. Forward-Looking Information is designed to help readers understand Alkane’s views as of that time with respect to future events and speak only as of the date they are made. Except as required by applicable law, Alkane assumes no obligation to update or to publicly announce the results of any change to any forward-looking statement contained or incorporated by reference herein to reflect actual results, future events or developments, changes in assumptions or changes in other factors affecting the Forward-looking Information. If Alkane updates any one or more forward-looking statements, no inference should be drawn that the company will make additional updates with respect to those or other Forward-looking Information. All Forward-Looking Information contained in this announcement is expressly qualified in its entirety by this cautionary statement.

Disclaimer
Alkane has prepared this announcement based on information available to it. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions or conclusions contained in this announcement. To the maximum extent permitted by law, none of Alkane, its directors, officers, employees, associates, advisers and agents, nor any other person accepts any liability, including, without limitation, any liability arising from fault or negligence on the part of any of them or any other person, for any loss arising from the use of this announcement or its contents or otherwise arising in connection with it. This announcement is not an offer, invitation, solicitation, or other recommendation with respect to the subscription for, purchase or sale of any security, and neither this announcement nor anything in it shall form the basis of any contract or commitment whatsoever.

CONTACT:  NIC EARNER, MANAGING DIRECTOR & CEO, ALKANE RESOURCES LTD, TEL +61 8 9227 5677

INVESTORS & MEDIA:  NATALIE CHAPMAN, CORPORATE COMMUNICATIONS MANAGER, TEL +61 418 642 556