Oklo Resources : Confirms New Hanging Wall Gold Zone

4th MARCH 2021

OKLO CONFIRMS NEW HANGING WALL ZONE AND REPORTS FURTHER HIGH GRADE GOLD INTERCEPTS

OF UP TO 42.6g/t GOLD (1.4oz/t)

Oklo Resources Limited ("Oklo" or "the Company") is pleased to report further drilling results from the 2021 field season at its flagship Dandoko Project located in west Mali, Africa.

HIGHLIGHTS

• ► Assay results received from infill and step-out resource definition drilling at SK1 continues to intersect high-grade gold mineralisation including;

  RDSK20-102 (SK1 North - infill)

  ► 14m at 4.17g/t gold from 155m, including, ► 3m at 17.8g/t gold that includes ► 1m at 42.6g/t gold

  RDSK21-104 (SK1 South - step-out)

  ► 35m at 1.36g/t gold from 61m, including, ► 5m at 5.34g/t gold that includes ► 1m at 13.60g/t gold

• ► Hole RDSK21-104 successfully extended the emerging hanging wall lode down dip from the previously reported shallow gold intersection of 10m at 4.04g/t gold from 11m.1

►

The hanging wall lode is associated with a wide zone of altered and deformed, brecciated sediments that averages 1g/t gold over 57m from a downhole depth of 39m. Follow-up drilling at depth is currently in progress.

► Assay results from reconnaissance shallow aircore (AC) drilling confirm further growth opportunities in close proximity to Seko for follow-up evaluation including:

• ► 17m at 1.02g/t gold from 32m, including 4m at 2.75g/t gold, to the immediate southwest of SK1 South

• ► 17m at 0.64g/t gold from 33m, including 6m at 1.13g/t gold, ~1km south of SK3

"We are highly encouraged by the wide zone of hydrothermal alteration emerging within the hanging wall at SK1 South associated with medium to high grade gold mineralisation. With the resource definition drilling program now complete, we remain on track to deliver our maiden Mineral Resource estimate during March." - commented Oklo's Managing Director, Simon Taylor.

1 Refer ASX announcement 18th January 2021, "Resource Drilling Expands SK1 South at Depth and Along Strike

Oklo Resources Limited ("Oklo" or "the Company") is pleased to report the receipt of further assay results from its 2021 drilling campaign over Seko within the Company's flagship Dandoko Project.

Oklo's Dandoko Project is located within the Kenieba Inlier of west Mali, approximately 30km east of B2Gold's 7.1Moz Fekola Project and 50km south-southeast of Barrick Gold's 18Moz Loulo (including Yalea) / Gounkoto complex (Figure 1a). IAMGold's 2.0Moz Diakha/Siribaya gold resource projects are located to the immediate southwest of Oklo's ~505km2 holding within this emerging world-class gold region.

Oklo previously outlined extensive oxide-hosted gold mineralisation along the ~3km SK1 North -SK1 South - Koko trend (Figure 2a). The current drilling program is focussed on completing definition of the oxide zone along this trend in advance of finalising the maiden Mineral Resource estimate (MRE).

The assay results reported in this announcement comprise 6 diamond (DD) holes and 15 reverse circulation (RC) holes.

SK1 RESOURCE DRILLING RESULTS

The latest assay results have successfully extended the emerging SK1 South hanging wall zone down dip from the previously reported shallow gold intersection of 10m at 4.04g/t gold 2 from a downhole depth of 11m. Refer Figure 3, Section 1396300mN.

Hole RDSK21-104 intersected 35m at 1.36g/t gold from a downhole depth of 61m, including, 5m at 5.34g/t gold that included 1m at 13.60g/t gold. This intersection is hosted within a 57m zone averaging 1g/t gold from 39m associated with altered and deformed brecciated sediments. The strong brecciation along with a variable weathering profile suggests that the hanging wall zone is proximal to the intersection of an interpreted northeast-trending structure with the principal north-northeast trending structure (host to the SK1 North and South mineralisation). Follow-up drilling is currently in progress over this new zone.

2 Refer ASX announcement 18th January 2021, "Resource Drilling Expands SK1 South at Depth and Along Strike

Infill DD hole RDSK20-102 returned a high-grade gold intersection of 14m at 4.17g/t gold from 155m, including 3m at 17.8g/t gold that included 1m at 42.6g/t gold. This intersection at SK1 North firmed up the geological model of the deeper mineralisation. Refer Figure 4 Section F-F".

Other significant intersections from the resource definition drilling program included 1m at 5.49g/t gold and 3m at 1.35g/t gold in hole RCSK21-302 located at the southern end of SK1 South and 2m at 1.79g/t gold and 3m at 1.14g/t gold in hole RCSK21-295.

Further south at the Koko prospect, additional zones of gold mineralisation were intersected including 1m at 2.98g/t gold and 1m at 2.30g/t gold in hole RCKK21-291, and 4m at 0.54g/t gold and 1m at 2.20g/t gold in hole RCKK21-292.

RECONNAIASSANCE DRILLING RESULTS

A total of 88 shallow reconnaissance aircore (AC) holes have been completed exploring for new targets in close proximity to the main MRE areas around Seko. Broad zones of gold mineralisation were intersected in several holes confirming further growth opportunities for follow-up evaluation. Highlights included 17m at 1.02g/t gold from 32m, including 4m at 2.75g/t gold, to the immediate southwest of SK1 South and 17m at 0.64g/t gold from 33m, including 6m at 1.13g/t gold, ~1km south of SK3 (Figure 2a).

The significant drill hole intersections are summarised in Table 1 and Table 3, with all drill hole locations summarised in Table 2 and presented in Figures 2a - 2b, 3 and 4.

ONGOING WORK PLANS

The resource drilling program has been completed with all remaining samples dispatched to the laboratory for analysis. Upon receipt, the assay results will be incorporated into the MRE, which is on track for delivery during March.

Reconnaissance AC drilling is ongoing, testing additional targets in close proximity to Seko identified through a combination of previous auger geochemical drilling, induced polarisation (IP) geophysical surveys and geological mapping.

Regional programs are also commencing on the Kandiole, Kouroufing, Sari and Kossaya licences.

4th MARCH 2021

Figure 2a: Drill plan showing Leapfrog gold isosurfaces from previous drilling programs (AC, RC and

DD) over Seko Anomalies SK1-5, Koko and Disse, completed holes

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Figure 2b: Zoomed drill plan showing Leapfrog gold isosurfaces from previous drilling programs (AC, RC and

DD) over SK1, completed holes

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