Alkane Resources Quarterly Report to 31 Decemeber 2012

January 30, 2013 (Source: Alkane Resources) New South Wales — Dubbo Zirconia Project (DZP)

• Further improvements made to the process through continued work on the
  demonstration pilot plant at ANSTO
• Credit Suisse (Australia) Limited, Sumitomo Mitsui Banking Corporation and Petra Capita Pty Limited appointed to assist with Project financing
• Discussions to enhance the relationship with the leading international chemical
  company and trading company by changing focus to the supply of higher value
  zirconium chemicals and zirconia to replace the ZOC MoU
• New zirconia product development facility to be established in Perth
• Due to ongoing process improvements, including water recycling, the
  Environmental Impact Statement completion has been extended to the end of
  March
• The updated Definitive Feasibility Study to be completed in the March Quarter

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