23 February 2022

AIRCORE DRILLING IDENTIFIES NEW 600M GOLD TARGET

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ALONG STRIKE FROM TABAKOROLE - TARGET H

HIGHLIGHTS

∙ Results of Aircore drilling at Target H, 6km south-east of Tabakorole, confirm

anomalous gold over 600m of strike, remaining open to the south-east.

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∙ Results of reconnaissance Auger drilling on the Asgard trend have returned peak

gold values of 9.1g/t and 6.9g/t in the north-west of the license package - multi-

element assay results are pending which will determine the significance of these

peak values.

∙ Several other regional targets have anomalous gold results that require further

follow-up once multi-element assays have been received.

∙ Systematic exploration is continuing across the extensive landholding at

Tabakorole with Aircore drilling currently under way at the Lone Wolf Target,

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which returned 4m at 1.3g/t Au and 4m at 2.7g/t Au1, ending in mineralisation, in

late 2021.

Marvel Gold Limited (ASX: MVL) (Marvel or the Company) is pleased to announce the results of reconnaissance Auger and Aircore drilling and multi-element soil sampling at its Tabakorole Gold Project located in south-east Mali. The Project is held under two separate joint ventures, the Oklo JV (80% interest) (ASX: OKU) and the Altus Strategies plc JV (currently 70%) (see Figure 1).

Managing Director, Chris van Wijk commented on the results:

"We are very encouraged by the anomalies evident in the multi-element soils at Tabakorole and we have been working to systematically test these anomalies using either Auger or Aircore drilling as demanded by the soil thickness.

"We are particularly excited by the results of our recent drilling at Target H, which have outlined an additional area of strong anomalism along trend from Tabakorole with a Forstrike length of around 600m. In addition, we have recently commenced drilling at the L ne Wolf Target where we confirmed mineralisation in Aircore drilling at the end of

last season.

"We are looking forward to following up these exciting results as the season progresses."

1 ASX announcement 8 July 2021

Auger and Aircore reconnaissance drilling

Auger and Aircore drilling are rapid and cost-effective reconnaissance drilling techniques used to collect geochemical samples in areas where the soil geochemistry has been shown to be ineffective. In areas of residual soils or thin lateritic cover, Auger onlydrilling is used to collect a geochemical sample at the soil-rock interface, which is most ikely to give a clean geochemical response. In areas with thicker cover, Aircore drilling

is used to get through the cover and collect a bedrock sample for geochemistry.

Tabakorole trend - Target H and Lone Wolf

Target H is situated within the Tabakorole trend, which outlines the northern boundary of the regional structural corridor which is interpreted as a splay off the Bannifin Shear useZone. The million-ounce Tabakorole deposit2 is located at the north-eastern end of this

trend.

Soil sampling undertaken in 2021 identified three discrete zones of anomalous gold in soils along trend from the Tabakorole deposit. These zones (named Targets H, I and J) have been tested with Aircore drilling with the Target H results showing anomalous gold over 600m of strike (See Figure 1) with peak values of 0.55g/t Au and 0.58g/t Au.

personalTarget H remains open to the south-east while results from Targets I and J remain outstanding. Follow-up Aircore drilling is planned to test the full strike extent of Target H.

Seven additional Aircore lines have been drilled along strike from Target H, at Targets I and J, the results of which are pending.

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2 ASX announcement 5 October 2021

Figure 1: Tabakorole regional magnetic image Aircore and auger drilling to date.

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Aircore drilling is currently under way at the Lone Wolf Target, located 2.7km southeast of Tabakorole and within the same trend as Targets H, I and J. Previous drilling in 2021 returned 4m at 1.3g/t Au and 4m at 2.7g/t Au, ending in mineralisation (Aircore hole 21TBK00963). A solitary 2005 RC hole (05FLRC-97) into the Lone Wolf Target

onlyintersected 12m at 1.2g/t gold from surface4 and was never followed up. Four additional

lines of Aircore drilling are planned, covering a strike length of 700m. Since the Aircore drilling campaign in 2021, artisanal miners have become active on this target lending further evidence to support mineralisation in this area (See Figure 2).

Figure 2: Tabakorole trend showing targets along strike (Lone Wolf artisanal

workings in inset)

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  1. ASX announcement 8 July 2021
  2. ASX announcement 17 June 2020

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Figure 3: Regional map showing anomalous Auger results on Asgard, Sola and
Wakanda trends

Asgard trend

The Asgard trend sits on the southern boundary of the regional structural corridor which is interpreted as a splay off the Bannifin Shear Zone.

onlyPrevious drilling within this trend at the T1 target located in the south of the Tabakorole license returned a best intercept of 14m at 9.8g/t Au5 in hole 10FLSRC-02. Drilling on the Garalo license (owned by London listed Contango Holdings plc), which is contiguous to the Tabakorole license has also confirmed gold mineralisation, providing important proof of prospectivity within this trend.

Auger and Aircore drilling have been conducted over several targets within this trend and have returned peak values that include 9.1g/t Au in auger hole 21TBKAG463, 6.9g/t Au in auger hole 21TBKAG520 and 0.8g/t Au in Aircore hole 21TBKAC0418. This last

useAircore hole was followed up with a single RC hole, around 30m to the north-east which intersected 1m at 7.5g/t Au from 13m.

Gold anomalism is common along this trend and multi-element results are needed to provide additional context to the anomalous gold values before further follow-up work is planned.

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5 ASX announcement 17 June 2020

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Oklo Resouces Limited published this content on 22 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 February 2022 23:18:04 UTC.