Alkane Resources Ltd. provided update on Tomingley Gold Operations. TGO continued at high production levels in the current quarter, above forecast. This was due to the release of higher grade ore, particularly from the Caloma and Caloma Two pits, and generally clear weather following a difficult first half fiscal year 2017 caused by persistent heavy rain events. Mining is also occurring in the Wyoming One pit, although this is predominantly waste stripping. Core drilling below the Wyoming One open pit and regional aircore/core drilling south of the TGO mine site are continuing. Further results will be released over the next several months as the programs proceed.

The company upgraded production guidance with an expected second half fiscal year 2017 of 43,000 ­to 45,000 ounces at an AISC of AUD 1,000 ­
AUD 1,100 from the guidance of 31,000 to­ 36,000 ounces at an AISC of AUD 1,350 ­to AUD 1,550 published in January 2017.

Full year guidance for 2017 has been revised to production of 65,000 ­to 67,000 ounces at an AISC of AUD 1,300 to­ AUD 1,400.

Fiscal year 2018 production expected to be 65,000 ­to 70,000 ounces at an AISC of AUD 1,100 ­to AUD 1,200.