Alkane Resources Limited reported Ore Reserves and Mineral Resources for the Tomingley Gold Project (TGP) which includes the Tomingley Gold Operations (Tomingley or TGO) and the Peak Hill Gold Project (PHGP) and the Boda Deposit (Boda) as at 30 June 2022 in accordance with the 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC 2012). All projects are located within the Central West region of New South Wales. At TGO, open pit mining continued through to early 2019 before the operation transitioned to underground mining.

Low grade ore stockpiles were initially processed until underground ore became available in early 2020. Late in fiscal year 2021 a cut back in the Caloma open pit was initiated based on improved gold prices earlier in the year. Resources and Reserves have been estimated for the Roswell and San Antonio deposits (together the Tomingley Gold Extension Project or TGEP) and these are included with the TGP.

An initial Resource estimation was compiled for the PHGP in October 2019 and is included in the statement. Identified Mineral Resources and Ore Reserves for the Tomingley Gold Project have been updated as at 30 June 2022. The Project includes the current production facility at the Tomingley Gold Operations, the Roswell and San Antonio deposits (the Tomingley Gold Extension Project) and the Peak Hill Gold Project in the Central West region of New South Wales.

Mineral Resources and Ore Reserves for the Tomingley Gold Project have been re-estimated to account for additional resources, mining depletion, changes in gold price and operating costs: Total Mineral Resources: 25.91 Mt grading 2.10g/t Au (1,748,000oz); Total Ore Reserves: 11.78 Mt grading 1.77g/t Au (671,000oz). The Environmental Impact Statement for open cut and underground mining development for the Roswell and San Antonio deposits is progressing through the NSW Department of Planning and Environment. Project Approval is anticipated before the end of the calendar year.

An extensive drilling program was completed on the gold-copper porphyry Boda Prospect within the larger North Molong Porphyry Project (NMPP) located 90km east of Tomingley. The drilling enabled an initial Inferred Resource to be estimated for the Boda deposit in May 2022: Mineral Resources (0.3g/t AuEq) 624 Mt grading 0.51g/t AuEq (10.1 MEqoz) 624Mt grading 0.26g/t Au and 0.14% Cu (5.21 Moz Au; 0.9Mt Cu); Additional drilling is progressing within the NMPP to expand the Boda resource and test separate deposits, including Kaiser.