Alkane increases Storheden mineral resource

PERTH, Australia, July 28, 2026 (GLOBE NEWSWIRE) -- Alkane Resources Limited (ASX: ALK; TSX: ALK; OTCQX: ALKRY) ("Alkane" or "the Company") is pleased to announce the latest exploration results and an updated Mineral Resource for the Storheden Deposit at its Björkdal Operation in northern Sweden. Program Summary The Storheden Deposit is located approximately 700 m north of the Björkdal mine, with recent drilling intercepting gold-bearing Quartz veins along 2.7 km strike length and to a depth of 464 m. The mineralisation remains open in all directions. 16 extensional diamond drill holes were completed at Storheden during January-March 2026, intercepting high-grade mineralisation within target zones defined through previous drilling campaigns.

The recent drilling has contributed to an improved understanding of the lithostructural controls on gold-bearing Quartz veins, defining units that form targets for follow-up drilling. New modeling at Storheden including drilling over 2025 and 2026 has improved confidence, with inclusion of Indicated Resources, higher grade and significantly higher contained gold ounces. Indicated Resources 1.07 Mt grading 2.51 g/t Au (87 koz) and; Inferred Resources 1.85 Mt grading 2.11 g/t Au (125 koz) Details to follow in the annual NI43-101 Björkdal Technical document in September 2026 Assay Highlights From the Storheden Resource Growth campaign 36.1 g/t gold over 0.5 m (ETW 0.35 m) in SH26-004 50.9 g/t gold over 0.95 m (ETW 0.82 m) and 39.2 g/t gold over 0.6 m (ETW 0.46 m) in SH26-010 107.0 g/t gold over 0.4 m (ETW 0.35 m) in SH26-011 27.4 g/t gold over 0.70 m (ETW 0.49 m) in SH26-012 Note: ETW refers to the Estimated True Width of the intercept.

A full list of significant Storheden Intercepts can be found in Appendix 1. Alkane Managing Director & CEO, Nic Earner, said: “Storheden represents an exciting new growth prospect at Bj ö rkdal. The positive dr