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ASX and MEDIA RELEASE 29 October 2021 ALKANE RESOURCES LTD ABN 35 000 689 216 Quarterly Activities Report to 30 September 2021 Tomingley Gold Operations ( Tomingley ) Gold production met forecast for the quarter of 12,141oz , with site operating cash costs at A $ 1,531 / oz and AISC of A $ 1,961 / oz . Lower grade stopes were mined late in the quarter , with higher grade stopes forecast for early in the current quarter . Gold sales of 13,359 ounces for revenue of A $ 33.0M at an average price of A $ 2,467 / oz . FY2022 production guidance for Tomingley is unchanged at 55,000oz to 60,000oz at an AISC of $ A1,450 / oz to $ 1,600 / oz . New underground fleet continues to be deployed with 3 x CAT 2900 loaders , 3 x Epiroc MT65 trucks and a Sandvik DL432i production drill received to date . A further Epiroc MT65 truck , Sandvik DD422i jumbo , CAT 2900 loader and a Normet Charmec MC605D to be delivered by the end of Q1 2022 . Tomingley Gold Extension Project ( TGEP ) The application for the Gateway Certificate , which considers the impact of proposed developments on agricultural land in NSW , was lodged with the NSW government . This is currently being evaluated and receipt is expected in the current quarter . The Environmental Impact Statement is being finalised for submission on receipt of the Gateway Certificate . Submission is expected later in the current quarter . The expected timing of Project Approval remains mid - 2022 . Exploration The drill program at Boda continues . Results received during the quarter ( see ASX Announcement 16 August 2021 ) showed shallow extensions of the high - grade breccia at Boda , intersecting significant gold and copper grades from surface . Significant assay results included : KSRC043 incl KSRC042 and incl also 31m grading 2.94g / t Au , 0.97 % Cu from surface 9m grading 9.43g / t Au , 2.65 % Cu from surface 14m grading 0.40g / t Au , 0.11 % Cu from 74m 226m grading 0.35g / t Au , 0.15 % Cu from 108m 10m grading 0.72g / t Au , 0.40 % Cu from 157m 9m grading 0.73g / t Au , 0.50 % Cu from 290m Near mine exploration continued at Tomingley . Results received ( see ASX Announcement 16 September 2021 ) showed additional mineralisation outside the existing resource models at Roswell and San Antonio . CONTACT INVESTORS MEDIA : NIC EARNER , MANAGING DIRECTOR , ALKANE RESOURCES LTD , TEL +61 8 9227 5677 : NATALIE CHAPMAN , CORPORATE COMMUNICATIONS MANAGER , TEL +61 418 642 556 : PAUL RYAN , CITADEL - MAGNUS , TEL +61 409 296 511 Level 4 , 66 Kings Park Rd , West Perth WA 6005 , AUSTRALIA ( PO Box 768 , West Perth WA 6872 , AUSTRALIA ) Telephone : +61 89227 5677 Facsimile : +6189227 8178 www.alkane.com.au mail@alkane.com.au