Alkane Resources Ltd - Update on Proposed Merger with Mandalay and Shareholder Meeting

Published: 2025-06-27 08:08:39 ET MND.TO

Published on 06/27/2025 at 08:08

Alkane has scheduled a General Meeting for Monday, 28 July 2025 (AWST) for shareholders to vote on all resolutions related to the proposed merger with Mandalay Resources.

Alkane also welcomes the filing by Mandalay for the Special Meeting of Mandalay shareholders on Monday, 28 July 2025 (Vancouver time) to approve the merger of Alkane and Mandalay.

Completion of the merger is subject to Alkane shareholders and Mandalay shareholders, at their respective meetings, voting in favour of the Transaction, approval by the Foreign Investment Review Board, final approval of the Supreme Court of British Columbia and satisfaction or waiver of other customary closing conditions.

If Alkane shareholders and Mandalay shareholders approve the merger, it is anticipated that the Transaction will be completed in early August 2025.

ABOUT ALKANE - www.alkane.com.au - ASX: ALK

Alkane Resources Ltd intends to grow to become one of Australia's multi-mine gold and copper producers and have announced their intention for a 'merger of equals' with Mandalay Resources Corporation (TSX: MND, OTCQB: MNDJF) to create a combined company. The transaction will create a diversified Australian-centric gold and antimony producer with a portfolio of three operating mines and a strong balance sheet. Alkane's current gold production is from the Tomingley Gold Operations in Central West New South Wales, which has been operating since 2014 and has operating plans extending beyond 2030. Alkane has an enviable exploration track record and controls several highly prospective gold and copper tenements. Its most advanced exploration projects are in the tenement area between Tomingley and Peak Hill, which has the potential to provide additional ore for Tomingley's operations. Alkane's exploration success includes the landmark porphyry gold-copper mineralisation discovery at Boda in 2019. With exploration drilling ongoing and an economic development pathway shown in a scoping study, Alkane is confident of further consolidating Central West New South Wales' reputation as a significant gold and copper production region. Alkane's gold interests extend throughout Australia, with strategic investments in other gold exploration and aspiring mining companies.

Contact:

Tel: +61 8 9227 5677

Tel: +61 418 642 556