Alkane Doubles the Tested Depth Extent of the Storheden Deposit at Björkdal

Alkane is pleased to announce the latest exploration results for depth drilling at the Storheden Deposit at its Björkdal Operation in northern Sweden.

Program Summary

• The Storheden deposit is situated approximately 600m to the north of the active Björkdal mine that has produced 1.66M oz of gold since 1988 and has 1.40M oz in Measured and Indicated Mineral Resources as at 30 June 2025 (20.35 Mt grading 2.14 g/t gold).¹
• Drilling over two recent campaigns has focussed on the depth testing and potential resource extension below the initial Inferred Mineral Resource for the Storheden Deposit estimated in 2025 of approximately 99koz (1,769 Kt at 1.74 g/t gold).¹
• Gold baring quartz veins have been intercepted to a depth of 464m bearing which more than doubles the previous tested depth of 200m. Additionally drilling to the east and west has extended the strike length of known mineralisation to over 2.7km. The deposit remains open with no indications of diminishing grade at depth.
• The Björkdal style veining of Storheden is interpreted to be hosted in three favourable lithological units akin to those that host Björkdal and it is interpreted that the two systems converge at depth.

Assay Highlights

From the Depth Testing campaign:

• 16.2 g/t gold over 0.70 m (ETW 0.60 m) in SH24-003 at 475 m;
• 14.0 g/t gold over 1.2 m (ETW 0.85 m) in SH24-004 at 317 m;
• 34.3 g/t gold over 1.6 m (ETW 0.68 m) in SH24-006 at 470 m.

From the Resource Extension campaign:

• 142.0 g/t gold over 0.60 m (ETW 0.25 m); and
• 111.0 g/t gold over 0.50 m (ETW 0.25 m); and
• 41.4 g/t gold over 0.60 m (ETW 0.34 m) in SH25-006;
• 57.7 g/t gold over 0.50 m (ETW 0.41 m) in SH25-009; and
• 45.2 g/t gold over 0.50 m (ETW 0.38 m) in SH25-014.

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

Alkane Managing Director & CEO, Nic Earner, said: “These highly encouraging results from the Storheden Deposit further support our understanding that the wider Björkdal system is vast and underexplored. Our focus for Björkdal is bringing higher grade ore through the processing plant by replacing low grade stockpile feed with underground ore. Storheden presents an opportunity to create a distinct production area alongside those already in production and achieve this goal.”

¹ Refer to ALK Announcement dated 15 October 2025 titled Björkdal Resources and Reserves Statement FY25.