Oklo Resources : Land Position Grows in West Mali with Strategic Acquisition

23rd APRIL 2018

OKLO GROWS LAND POSITION IN WEST MALI WITH STRATEGICALLY LOCATED ACQUISITION

Oklo Resources Limited ("Oklo" or "the Company") is pleased to announce that it has entered into an Agreement to acquire 100% ownership of the Kandiole Sud Project ("Kandiole"), located some 5 kilometres southwest of the Company's flagship Dandoko Project and 10 kilometres southeast of B2Gold's operating Fekola Mine in western Mali (Figure 1).

The Kandiole Project is a single granted permit of 116km2 in area within the Kenieba Inlier to the immediate east of the regionally significant Senegal Mali Shear Zone ("SMSZ"). The SMSZ and associated northeast-trending splay structures are spatially related to several major gold projects including: Fekola (5.2Moz), Loulo (12.5Moz), Gounkoto (5.4Moz), Yatela (3Moz), Sadiola (15Moz) and Sabodala (10Moz).

The Kandiole Project covers a largely unexplored tract of highly prospective Proterozoic Birimian greenstones in a comparable geological setting to the nearby, multi-million ounce gold mining operations and recent discoveries (Figure 1). Oklo has identified northeast-trending structures within the Project area similar to those outlined within the Company's nearby Dandoko Project which are associated with the 12km long, northeast-trending gold corridor recently outlined by auger geochemistry.

Figure 1: Location of the Kandiole, Dandoko, Moussala and Kouroufing gold projects in west Mali.

PAGE 1 OF 2

23rd APRIL 2018

Work is able to commence on the project immediately, with data compilation and planning of auger geochemical drilling. Reconnaissance bedrock geochemistry has been instrumental in the identification of the recent gold discoveries within the Dandoko Project.

TERMS OF THE AGREEMENT

Sarama Mining Mali SARL, ("Sarama" or "Vendor") has earned an irrevocable 100% interest in the Kandiole Sud Project pursuant to a Memorandum of Agreement with the owner of the permit, Xinga Gold SARL.

Oklo has agreed to purchase Sarama's 100% interest for cash and the issue of fully paid ordinary shares in the Company on the following terms as set out in an executed Binding Term Sheet:

• 1. Payment of A$200,000 in cash or shares at the election of Sarama or its nominee within 2 business days of the Completion Date.

• 2. The issue of 1,319,261 Oklo shares (equivalent to A$500,000) within 2 business days of the Completion Date.

• 3. The issue of 791,557 Oklo shares (equivalent to A$300,000) within 2 business days following the date on which Oklo or its nominee is registered by the Mali Ministry of Mines ("Registration Date") as the 100% owner of the Permit.

• 4. Oklo will assume all of Sarama's rights, duties and obligations, including, but not limited to the obligation to pay Xinga Gold a 1% net smelter return royalty in relation to the Permit, which can be purchased by Oklo for US$1,400,000 at any time in which Oklo or its nominee has an interest, or a right to an interest, in the Permit.

The number of shares to be issued has been determined using the volume weighted average price ('VWAP') of Oklo's shares for the 10-day period ending on 20 April which is equivalent to 37.9c per share. Any cash paid will be funded from existing cash reserves and any shares issued will be issued in accordance with the Company's existing Listing Rule 7.1 capacity.

Completion of the Transaction ("Completion Date") is subject to the satisfaction of the following conditions precedent:

1. Oklo and Sarama executing an Assignment Agreement with Xinga Gold SARL pursuant to which Sarama's interest in, and its rights, obligations and duties pursuant to the Existing Memorandum of Agreement, shall be assigned to Oklo.

The Term Sheet shall terminate on the earliest of 60 days after the execution of the Term Sheet if the Conditions Precedent have not been satisfied or the parties mutually agreeing to terminate the Term Sheet.