Ann: State approval for Tomingley Gold Project , page-2

re: Ann: State approval for Tomingley Gold Pr... Well done Alkane. We are know on the road to officially becoming a producer in 2013.

STATE APPROVAL FOR TOMINGLEY GOLD PROJECT

• Alkane Resources Ltd has received approval from the NSW Department of Planning and Infrastructure for the Tomingley Gold Project (TGP)

• The TGP is a new gold development planned to commence production in the second half of 2013 based on an 812,000 oz (12.6 Mt @ 2.0g/t) resource. Gold production is expected to be an average of 50 - 60,000 oz pa over the
base case of 7.5 years although target life is 10+ years.

• $570m revenue is expected over the base case life of the mine providing an anticipated $200m in cash flow ($20-30M pa)

• The project has a recently revised estimated capital cost of A$107M

• Detailed design for the process plant is well advanced and procurement of long lead time capital items, such as the ball mill and water supply, is
already proceeding

• Operating costs are currently being updated and will be incorporated into the financial model

• The project financing facility mandate with Credit Suisse has been extended to 31 December 2012. This comprises a Project Loan Facility of up to A$45
million and a Gold Hedging Facility of up to 163,000 ounces.

• Up to 350 jobs could be created from the project, comprising 200-250 in construction and 100 permanent jobs in mining operations