Alkane Resources Unveils Significant Mineral Resource Increase at Storheden Deposit, Boosting Exploration Prospects

In a major development for the mining sector, Alkane Resources Limited has announced a substantial increase in the Mineral Resource at its Storheden Deposit, located within the Björkdal Operation in northern Sweden. This update comes on the heels of recent drilling activities that have not only intercepted high-grade gold-bearing Quartz veins but have also significantly expanded the understanding of the deposit's lithostructural controls.

The Storheden Deposit, situated approximately 700 meters north of the Björkdal mine, has been the focus of intense exploration efforts. Recent drilling, which included 16 extensional diamond drill holes completed during the first quarter of 2026, has successfully intercepted gold-bearing Quartz veins along a 2.7 km strike length and to a depth of 464 meters. Notably, the mineralization remains open in all directions, indicating considerable potential for further discoveries.

These drilling activities have contributed to a more refined understanding of the geological structures controlling the gold-bearing veins, allowing for the definition of targeted units for follow-up drilling. The inclusion of new data from drilling campaigns over 2025 and 2026 has substantially improved the confidence in the resource estimates, leading to the classification of Indicated Resources. As of the latest update, the Storheden Deposit is estimated to contain Indicated Resources of 1.07 million tonnes grading 2.51 grams per tonne of gold (approximately 87,000 ounces of gold) and Inferred Resources of 1.85 million tonnes grading 2.11 grams per tonne of gold (about 125,000 ounces of gold).

This significant increase in the Mineral Resource is a testament to Alkane Resources' commitment to exploration and its dedication to unlocking the full potential of the Björkdal Operation. The company's meticulous approach to drilling and data analysis has not only enhanced the understanding of the Storheden Deposit but has also paved the way for potential future expansions and discoveries in the region.

The detailed findings from the recent drilling campaigns and the updated Mineral Resource estimate will be comprehensively outlined in the annual NI 43-101 Björkdal Technical document, slated for release in September 2026. This document will provide stakeholders and investors with a thorough insight into the technical aspects of the deposit and the exploration strategies employed by Alkane Resources.

The increased resource estimate at the Storheden Deposit is a positive development for Alkane Resources, underscoring the company's ability to identify and capitalize on new mineralization opportunities. As the mining industry continues to evolve, with a growing emphasis on sustainable practices and efficient resource utilization, the success of projects like the Storheden Deposit will play a crucial role in meeting the demand for precious metals like gold.

For Alkane Resources and its stakeholders, the updated Mineral Resource at the Storheden Deposit represents a significant milestone, offering a promising outlook for the company's future operations and growth prospects. As the company moves forward with its exploration and development plans, the focus will remain on delivering value to shareholders while adhering to the highest standards of environmental and social responsibility.