ASX Announcement AUGER DRILLING ACCELERATED WITH FOUR RIGS ON SITE

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1 Level 5 56 Pitt Street Sydney NSW 2000, Auralia Tel: Fax: ABN: November 2016 AUGER DRILLING ACCELERATED WITH FOUR RIGS ON SITE Summary Ø Planned 40,000m auger geochemical drilling program at the Dandoko and Moussala Projects progressing well with a total of four rigs on site and a further two rigs being mobilised to accelerate completion. Ø Total of 736 auger holes for 7,530 metres drilled to date at an average hole depth of 10m. Ø At Dandoko, auger drilling is initially teing the regional-scale trends extending from the high grade Diabarou and Disse gold discoveries prior to the syematic evaluation of other targets. Ø At Moussala, regional auger drilling will further evaluate several large geochemical anomalies which remain unteed by drilling, including areas where limited previous soil sampling returned peak gold-in-soil results of up to 0.54g/t Au. Ø Planned 7,000m ep out and resource definition RC drilling program at Disse and Diabarou scheduled to commence in late November. Ø The aggressive drill programs are planned to continue through the dry season into 2017, being guided by ongoing results. Ø Drilling activities are fully funded from exiing cash reserves of circa $9.4 million. Oklo Resources Limited ( Oklo or the Company ; ASX: OKU) is pleased to announce the following update on its drilling campaign underway at the Dandoko and Moussala Projects in weern Mali (Figure 1). The Dandoko and Moussala Projects are located within the Kenieba Inlier of weern Mali and lie within 30 kilometres to the ea of B2Gold s 5.15Moz Fekola Project and 50 kilometres to the south-southea of Randgold s 12.5Moz Loulo Mine. Page 1 of 5

2 Figure 1: Location of Dandoko and Moussala Gold Projects in We Mali Over the coming months, a series of early to advanced age targets will be drill teed as part of an approved 47,000m program fully funded from the Company cash reserves, which currently and at over $9.4 million. The initial 40,000m auger geochemical program in progress at Dandoko and Moussala is progressing well. Four drill rigs are currently operating at Dandoko, with a further two rigs being mobilised to expedite the program at Dandoko and commence at Moussala. At Dandoko, initial auger drilling is concentrating on regional extensions to the exciting gold discoveries at Diabarou and Disse before epping out to te other potential targets on a 400m x 100m spacing within the remainder of the project area. At Moussala, auger drilling will evaluate several previously outlined geochemical and geological targets on a 400m x 100m spacing. The auger drilling is intended to improve the geochemical underanding of the target areas by cheaply and efficiently penetrating below the extensive tracts of lateritic and transported cover that mask the underlying geology. A total of 736 holes for 7,530 metres have been completed to date for an average hole depth of 10m (Figure 2). Page 2 of 5

3 Figure 2: Planned and completed auger drill hole locations over gold-in-soil anomalies Following cessation of the wet season, the further drying and reduction of water levels at river crossings will shortly enable safe and efficient access for the heavier RC drilling rig and equipment to the Diabarou and Disse prospects. A program of approximately 7,000m of RC drilling is currently expected to commence in late November to further te the rike extension of the high grade gold mineralisation previously outlined at the Diabarou and Disse prospects. Page 3 of 5

4 Figure 3: Auger rig sampling at Dandoko It is anticipated that by year end, the drilling programs at the Diabarou and Disse prospects will have been materially progressed and the enhanced geochemical coverage over the other target areas will be available to highlight potential extensions to these prospects and new areas for follow-up evaluation. The receipt of results from these programs are expected from early December through to late January, placing the Company in a rong position to continue its aggressive programs through the remainder of the dry season. ENDS For further information, please contact: Simon Taylor Managing Director T: E: aylor@okloresources.com Page 4 of 5 Phil Retter Inveor Relations NWR Communications T: E: phil@nwrcommunications.com.au

5 About Oklo Resources Oklo Resources is an ASX lied exploration company with gold, uranium and phosphate projects located in Mali, Africa. 2 The Company s focus is its large landholding of eight gold projects covering 1,389km in some of Mali s mo prospective gold belts. The Company has a corporate office located in Sydney, Auralia and an expert technical team based in Bamako, Mali, led by Dr Madani Diallo who has previously been involved in discoveries totalling in excess of 30Moz gold. Figure 6: Location of Oklo Projects in We and South Mali Competent Person s Declaration The information in this announcement that relates to Exploration Results is based on information compiled by geologis employed by Africa Mining (a wholly owned subsidiary of Oklo Resources) and reviewed by Mr Simon Taylor, who is a member of the Auralian Initute of Geoscientis. Mr Taylor is the Managing Director of Oklo Resources Limited. Mr Taylor is considered to have sufficient experience deemed relevant to the yle of mineralisation and type of deposit under consideration, and to the activity that he is undertaking to qualify as a Competent person as defined in the 2012 edition of the Auralasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the 2012 JORC Code). Mr Taylor consents to the inclusion in this report of the matters based on this information in the form and context in which it appears. Page 5 of 5