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ASX and MEDIA RELEASE 23 April 2021 ALKANE RESOURCES LTD ABN 35 000 689 216 Quarterly Activities Report to 31 March 2021 Tomingley Gold Operations ( TGO ) Gold production above forecast for the quarter at 16,040 ounces , with site operating cash costs at A $ 803 / oz and AISC of A $ 997 / oz . Gold sales of 15,844 ounces for the quarter for revenue of A $ 34.9M at an average price of A $ 2,203 / oz . Guidance for FY2021 increased to 50,000 to 55,000 oz at a reduced AISC of A $ 1,400 to A $ 1,550 per ounce . ( Previous guidance , issued 25 February 2021 , was 47,000 to 52,000 oz at an AISC of A $ 1,450 to A $ 1,600 per ounce . ) The securing of NSW Government approvals for the development of the Roswell and San Antonio deposits is continuing . Feasibility plans that include both open cut and underground mines at Roswell and San Antonio are being finalised and expected to be announced in May . Exploration Final results for the San Antonio deposit south of TGO were reported ( see ASX Announcement 27 January 2021 ) , with further high - grade intercepts such as : RWRC449 incl RWRC456 and and RWRC459 and incl also 10.0 metres grading 6.68g / t Au from 74 metres ; 3.0 metres grading 17.1g / t Au from 75 metres . 11.0 metres grading 6.73g / t Au from 187 metres ; 5.0 metres grading 2.60g / t Au from 211 metres ; 6.0 metres grading 2.34g / t Au from 251 metres . 3.0 metres grading 2.54g / t Au from 126 metres ; 31.0 metres grading 2.76g / t Au from 134 metres ; 2.0 metres grading 6.56g / t Au from 134 metres ; 10.0 metres grading 5.16g / t Au from 143 metres . The final results for the San Antonio deposit were received and the Resource was updated ( see ASX Announcement 4 November 2020 ) . The Global Mineral Resource ( Indicated and Inferred ) for the San Antonio Deposit now stands at : 7.3 million tonnes grading 1.72g / t gold ( 406,000oz ) The Global Mineral Resource ( Indicated and Inferred ) for the Tomingley Extension Project , which includes both the Roswell and San Antonio Deposits now stands at : Indicated Inferred 13.8 million tonnes grading 1.96g / t gold ( 871,000oz ) 3.6 million tonnes grading 1.69g / t gold ( 195,000oz ) Total 17.4 million tonnes grading 1.90g / t gold ( 1,066,000oz ) CONTACT INVESTORS : NIC EARNER , MANAGING DIRECTOR , ALKANE RESOURCES LTD , TEL +61 8 9227 5677 : NATALIE CHAPMAN , CORPORATE COMMUNICATIONS MANAGER , TEL +61 418 642 556 MEDIA : JOHN GARDNER , CITADEL MAGNUS , TEL +61 413 355 997 Ground Floor , 89 Burswood Road , Burswood WA 6100 , AUSTRALIA ( PO Box 4384 , Victoria Park WA 6979 , AUSTRALIA ) Telephone : +61 89227 5677 Facsimile : +61 8 9227 8178 www.alkane.com.au mail@alkane.com.au