Oklo Resources : Investor Presentation

EXPLORING AMONG THE

GOLDEN GIANTS

121 MINING INVESTMENT CONFERENCE - FEBRUARY 2020

DISCLAIMER

This presentation has been prepared by Oklo Resources Limited ("OKU"). The information contained in this presentation is a professional opinion only and is given in good faith. The material in this presentation ("material") is not and does not constitute an offer, invitation or recommendation to subscribe for or purchase any security in OKU, nor does it form the basis

of any contract or commitment. OKU makes no representation or warranty, express or implied, as to the accuracy, reliability or completeness of this material. OKU, its directors, employees, agents and consultants shall have no liability, including liability to any person by reason of negligence or negligent misstatement, for any statements, opinions, information or matters, express or implied, arising out of, contained in or derived from, or for any omissions from, this material, except liability under statute that cannot be excluded. Statements contained in this material, particularly those regarding possible or assumed future performance, costs, dividends, production levels or rates, prices, resources, reserves or potential growth of OKU, industry growth or other trend projections are, or may be, forward looking statements. Such statements relate to future events and expectations and, as such, involve known and unknown risks and uncertainties, many of which are outside the control of, and may be unknown to, OKU. Actual results and developments may differ materially from those expressed or implied by these forward looking statements depending on a variety of factors. Recipients of this presentation are cautioned to not place undue reliance on such forward looking statements. OKU does not take responsibility to release publicly any revisions or updates to any forward looking statements to reflect events, circumstances or unanticipated events occurring after the date of this presentation except as required by law or by any appropriate regulatory authority.

This presentation is a visual aid and is not intended to be read as a stand alone document. The material contains selected and abbreviated summary information about OKU and its subsidiaries and their activities current as at the date of this presentation. The material is of general background and does not purport to be complete. OKU does not take responsibility for updating any information or correcting any error or omission which may become apparent after the date of this presentation.

Compliance Statement

This presentation contains information extracted from ASX market announcements reported in accordance with the 2012 edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" ("2012 JORC Code") and available for viewing at www.okloresources.com. OKU confirms that in respect of these announcements dated 21 December 2016, 30 January 2017, 21 February 2017, 3 March 2017, 7 March 2017, 15 March 2017, 30 March 2017, 6 April 2017, 26 April 2017, 29 May 2017, 21 June 2017, 12 July 2017, 25 July 2017, 14 August 2017, 16 August 2017, 4 September 2017, 28 November 2017, 5 December 2017, 20 December 2017, 5 February 2018, 22 February 2018, 8 March 2018, 28 March 2018, 3 May 2018, 16 May 2018, 22 May 2018, 2 July 2018, 6 August 2018, 28 August 2018, 3 September 2018, 12 September 2018, 19 September 2018, 30 January 2019, 19 February 2019, 6 March 2019, 11 April 2019, 17 April 2019, 27 May 2019, 15 August 2019, 14 Oct 2019, 20 November 2019, 10 December 2019, 17 December 2019, 14th January 2020, 20th January 2020 and 29th January 2020 . The Company confirms it is not aware of any new information or data that materially affects the information included in any original ASX market announcement.

The information in this presentation that relates to Exploration Results is based on information compiled by geologists employed in Africa Mining (a wholly owned subsidiary of OKU) and reviewed by Mr Simon Taylor, who is a member of the Australian Institute of Geoscientists. Mr Taylor is the Managing Director of OKU. Mr Taylor is considered to have sufficient experience deemed relevant to the style 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 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.

GOLDEN FOOTPRINT

1,400KM2 STRATEGIC LANDHOLDING IN PROLIFIC GOLD BELT

EXPLORING FOR LARGE GOLD SYSTEMS.

12KM DANDOKO GOLD CORRIDOR INC SEKO,

30km east of B2Gold's 7.1 Moz Fekola mine. Drilling has included:

33m at 4.97g/t gold	45m at 4.38g/t gold
62m at 5.26g/t gold	31m at 6.27g/t gold
46m at 4.03g/t gold	49m at 12.83g/t gold
29m at 12.27g/t gold	42m at 6.14g/t gold
76m at 1.65g/t gold	40m at 3.85g/t gold

WIDTHS + GRADES + ALTERATION = LARGE SYSTEM POTENTIAL

EXCELLENT RESULTS FROM 2020

RESOURCE DRILLING

47m at 10.95g/t gold	65m at 7.11g/t gold
55m at 7.65g/t gold	51m at 4.28g/t gold
31m at 7.12g/t gold	32m at 4.55g/t gold

NEW HIGH GRADE ZONE AT SK1 NORTH

EXPLORATION PROGRAMS led by experienced management team, involved in > 40Moz of gold discoveries in West Africa.

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STRONG FOUNDATION

CORPORATE OVERVIEW

CAPITAL STRUCTUREMAJOR SHAREHOLDERS

A$94.9M A$87.2M	BlackRock Group	13.64%
MARKET CAP AT	ENTERPRISE	Resolute Mining Ltd	9.12%
A$0.23/SHARE	VALUE	1832 Asset Management	7.56%
~A$7.7M	412.8M	Hawkestone Group	6.58%
CASH BALANCE	SHARES ON	Ruffer LLP	5.75%
(DEC 2019)	ISSUE	Directors & Management	3.76%

Unlisted Options	9.352M	71%	TOP 20
average exercise A$0.405
Performance Rights (ZEPOs)		SHAREHOLDERS
15.9M

BOARD & MANAGEMENT

• MARK CONNELLY NON-EXECUTIVE CHAIRMAN Seasoned financial and commercial executive with extensive resource industry experience across multiple jurisdictions. Track record for deal making in Africa includes merger of Papillon Resources with B2Gold in 2014 and Adamus with Endeavour Mining in 2011.
• SIMON TAYLOR MANAGING DIRECTOR & CEO

Resource executive with over 25 years experience in geology, management at CEO and Board levels and in the finance sector.

• DR MADANI DIALLO DIRECTOR - COUNTRY MANAGER Geochemist with outstanding track record as team member in the discovery of Sadiola (13Moz), Morila (8.5Moz), Syama (7.9Moz), Essakane (5.3Moz) and others. Strong relationship with Mali Govt, awarded a "Knighthood" as a pioneer to the
  Mali gold industry.
• ANDREW BOYD GM - EXPLORATION

Former GM - Geoscience for ASX companies Papillon Resources and Mantra Resources. Geophysicist with over 20 years of exploration and mining experience.

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LARGE PROJECT PORTFOLIO

MULTI-MILLION OUNCE REGION

~500km2 strategic land holding

Priority Dandoko Project

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AN EXCELLENT NEIGHBOURHOOD

Good Access

Infrastructure

Existing mines

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THE RIGHT CHARACTERISTICS

GEOLOGICAL PROCESSES IN PLACE...

…SIMILARITIES TO LARGE SYSTEMS

FEKOLA	GOUNKOTO		SEKO

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DANDOKO PROJECT

UNDEREXPLORED

WITH OUTSTANDING

RESULTS TO DATE

• 12km long Dandoko gold corridor defined by shallow auger (av hole depth 12m)
• THE RIGHT INGREDIENTS - SEKO
• • Shallow gold from surface
  • • excellent grades
    • favourable metallurgy
    • • open cut potential
• NEW DISCOVERY CONFIRMED AT KOKO
• Limited shallow drilling to date
• • Over 80% of drilling <100m
  • • 7% tested below 150m
    • 3% tested below 200m
• Lots of targets to add volume (ounces)

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SEKO DISCOVERY SK 1-5

PLAN VIEW - NEW 2020 RESOURCE PROGRAM RESULTS

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SEKO DISCOVERY

PLAN VIEW SK1 NORTH

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SEKO DISCOVERY SK1

CROSS SECTION

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SEKO DISCOVERY LOCATION

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SEKO DISCOVERY - SK1

DIAMOND CORE

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SEKO DISCOVERY - SK1

DIAMOND CORE

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SEKO DISCOVERY - SK1

DIAMOND CORE

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SEKO DISCOVERY - SK2

LONG SECTION

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SEKO DISCOVERY SK2

CROSS SECTION - 1396360mN

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KOKO DISCOVERY

PLAN VIEW

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KOKO DISCOVERY

SK1 - KOKO DRILL TARGET

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EXPLORATION STRATEGY

DANDOKO PROJECT - TIMELINE

Q2 2020 OUTLINE RESOURCE

10,000m RESOURCE DRILLING PROGRAM EXTENDED AT SEKO AND SURROUNDS DUE TO HIGH GRADE DISCOVERY AT SK1 NORTH AND KOKO DISCOVERY

METALLURGICAL TESTWORK UNDERWAY

met hole returned 50m at 3.99g/t gold from surface, samples of oxide, transitional and fresh rock dispatched

ONGOING

MULTIPLE GROWTH OPPORTUNITIES

FURTHER DRILLING IN 2020 TO ADD

VOLUME test for source of oxide gold mineralisation, chase high grade shoots in fresh rock

CONTINUED DRILLING OVER DANDOKO

GOLD CORRIDOR drill test south from Seko to Koko with reconnaissance AC

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DANDOKO PROJECT

MULTIPLE GROWTH OPPORTUNITIES

• DISSE
• • 21m @ 5.67g/t from 33m
  • 13m @ 4.69g/t from 163m
  • 16m @ 2.3g/t from 158m
• DIABOROU
• • 28m @ 3.9g/t from 88m
  • 6m @ 53.77g/t from 36m
  • 21m @ 2.0g/t from 45m
• SELINGOUMA
• • 12m @ 1.21g/t from 2m
  • 6m @ 2.85g/t from 72m
  • 4m @ 4.07g/t from 74m
• LOMONA
• • 2m @ 15.8g/t from 14m
  • 2m @ 5.42g/t from 10m

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PRELIMINARY METALLURGICAL TESTWORK

FAVOURABLE RESULTS FROM SEKO

• 86 samples (20 oxide and 66 primary) collected from RC and DD holes at SK 1-3 submitted 24 hour bottle roll cyanide leach analysis
• Further metallurgical studies underway

SUMMARY - FIRE ASSAY AND BOTTLE ROLL

CYANIDE LEACH GOLD RESULTS

		OXIDE	FRESH	ALL
FIRE ASSAY - GOLD (PPM)	4.03	3.64	3.73
BOTTLE ROLL - GOLD (PPM)	3.96	3.43	3.55
RECOVERY* (leach % of fire assay)	98.2%	94.2%	95.2%

HOLE NUMBERS, SAMPLE INTERVALS AND FIRE ASSAY V BOTTLE ROLL

CYANIDE LEACH GOLD RESULTS

HOLE ID	FROM	TO	FIRE ASSAY	BOTTLE-ROLL	RECOVERY*	TYPE NO.	LOCATION
(leach % of fire
GOLD (PPM)	GOLD (PPM)	SAMPLES
			assay)
RCSK17-026	40	52	3.45	3.40	98.6%	Oxide 52	SK1
RCSK17-015	5	13	4.90	4.79	97.8%	Oxide 8	SK2
RCSK17-012	100	127	2.87	2.87	100%	Fresh 27	SK2
RCSK17-019	110	131	3.05	2.80	91.8%	Fresh 21	SK3
RDSK18-020	137	155	5.48	4.98	90.9%	Fresh 18	SK2

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BUILDING STRONG PARTNERSHIPS

COMMUNITY DEVELOPMENT

Oklo invests in meaningful projects and lasting programs, enhancing community development.

• Regular engagement and dialogue with local authorities and community members
• Development of education and scholarship programs
• Local technical team language training for better communication
• Investment in Seko community water well, near local school and market
• Supporting local cultural and sports events

WATER WELL

SOCCER FIELD

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PURSUING OPPORTUNITY

INVESTING IN OKLO RESOURCES

BUILDING ON A STRONG 2018-19significant

potential to host a large gold system at Dandoko with excellent drilling results from the 2019 field season.

KEY FOCUS TO OUTLINE RESOURCE

via aggressive drilling programs, with priority exploration over the Seko discovery

EXTENSIVE LAND POSITION IN MAJOR

GOLD REGION large landholding covering over 1,400 km2 in Mali, West Africa with strong exploration potential.

HIGHLY EXPERIENCED MANAGEMENT

TEAM involved in over 40Moz of gold discoveries in West Africa.

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APPENDIX

BOARD AND MANAGEMENT

CORPORATE

• MARK CONNELLY NON-EXECUTIVECHAIRMAN
  Seasoned financial and commercial executive with extensive resource industry experience across multiple jurisdictions. Track record for deal making in Africa includes merger of Papillon Resources with B2Gold in 2014 and Adamus with Endeavour Mining in 2011.
• SIMON TAYLOR
  MANAGING DIRECTOR & CEO
  Resource executive with over 25 years experience in geology, management at CEO and Board levels and in the finance sector.
• LARA IACUSSO
  CHIEF FINANCIAL OFFICER
  Accountant with 20+ years in financial advisory services and extensive experience in private and public companies operating in Mali.

IN-COUNTRY

• DR MADANI DIALLO DIRECTOR - COUNTRY MANAGER
  Geochemist with outstanding track record as team member in the discovery of Sadiola (13Moz), Morila (8.5Moz), Syama (7.9Moz), Essakane (5.3Moz) and others. Strong relationship with Mali Govt, awarded a
  "Knighthood" as a pioneer to the Mali gold industry.
• ANDREW BOYD
  GENERAL MANAGER - EXPLORATION
  Former GM - Geoscience for ASX companies Papillon Resources and Mantra Resources. Geophysicist with over 20 years of exploration and mining experience.

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PROJECT DEVELOPMENT PIPELINE

PROGESSING EXPLORATION

?

POSITIVE SCOPING

SEKO 1-5

UNDERSTANDING SCALE

DABIA DISSE

KOKO DIABAROU

DISCOVERIES

GOMBALYSELINGOUMA

BEMBALAKOUROUFING

DRILL TARGET DEFINITION

SARI	KOSSAYA	KANDIOLE
KOLENDIEBA	SOLABOUGADA	MOUSSALA

QUALITY ASSETS

JV NEGOTIATIONS / LICENCE PURCHASE

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KOUROUFING PROJECT

LARGE AUGER GOLD TARGETS

• Two large gold systems identified from shallow auger, average hole depth 15m
• KOUROUFING CENTRAL TARGET 6km long gold corridor
• KOME TARGET 4km long gold corridor
• First shallow AC drilling returned wide zones of gold mineralisation including:
• • 34m @ 1.12 g/t gold from 2m
  • 40m @ 1.02 g/t gold from surface
  • 34m @ 1.06 g/t gold from surface; inc 2m @ 7.31 g/t gold from 24m
  • 8m @ 10.58 g/t gold from 2m;

inc 2m @ 39.7 g/t gold from 6m

• 6m @ 29.41 g/t gold from 2m; inc 2m @ 77.40 g/t gold from 6m
• 2m @ 18.20 g/t gold from 45m;

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SEKO DISCOVERY

ALREADY INDICATIONS FOR

HIGH GRADE GOLD FEKOLA STYLE SHOOTS

60m

125m

Source - Boyd, Dahl, Dorling 2013. The Fekola Gold Deposit: A new multi-million ounce gold discovery in the Kenieba District of Western Mali. Newgen Gold Conference 2013.

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SEKO DISCOVERY

DRILL TEST FOR PLUNGING FEKOLA STYLE SHOOTS

Source - Boyd, Dahl, Dorling 2013. The Fekola Gold Deposit: A new multi-million ounce gold discovery in the Kenieba District of Western Mali. Newgen Gold Conference 2013.

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SIMON TAYLOR	AUSTRALIAN OFFICE	MALI OFFICE
MANAGING DIRECTOR	Level 5, 56 Pitt St	Operating as Africa Mining Sarl
M: + 61 409 367 460	Sydney NSW 2000	Rue 841, Porte 57,
E: [e-mail]	T: + 61 2 8319 9233	BP 366 Faladje Sema Bamako
	okloresources.com