27 JANUARY 2017

DECEMBER 2016 QUARTERLY REPORT

The Company's primary focus during the period continued to be on the advancement of its gold projects in Mali, West Africa.

Highlights for the December 2016 quarter included: DRILLING

  • Aggressive drilling campaign underway with six rigs operating at quarter end

  • 40,000m auger drilling program in progress at Dandoko and Moussala projects

    • 1,973 holes for 21,277m completed at Dandoko

    • 119 holes for 1,205m completed at Moussala

  • Significant new gold trend extending over 1.2km with grades of up to 3.28g/t gold outlined at the Seko area, located 1.6km northeast of Disse prospect

  • 7,000m RC drilling program commenced at Diabarou prospect to further test the strike extents of the previously outlined high-grade gold mineralisation, with 15 holes for 2,193m completed during the quarter. Initial assay results expected in early February

    CORPORATE

  • Oklo's Technical Director Dr Madani Diallo confirms his ongoing commitment to the Company as Exploration and Country Manager and has agreed to extend his contract for a further two-year term

  • Cash reserves of circa $8.2 million as at 31 December 2016

    MARCH 17 QUARTER WORK PROGRAMS

    Oklo is in a strong financial position to pursue and purposefully advance the following programs within its extensive and highly prospective landholdings in Mali:

  • Dandoko Project: Continued auger, aircore and RC drilling to follow-up identified targets

  • Moussala Project: Continued auger drilling and airborne geophysical surveys

For further information, please contact:

Simon Taylor

Phil Retter

Managing Director

Investor Relations

T: +61 2 8319 9233

NWR Communications

E: staylor@okloresources.com

T: +61 407 440 882

E: phil@nwrcommunications.com.au

27 JANUARY 2017

Oklo Resources Limited ("Oklo" or the "Company") is pleased to present its Quarterly Activities Report for the period ending 31 December 2016. The Company's primary focus during the period continued to be on the advancement of its gold projects in Mali, West Africa. 1. DANDOKO & MOUSSALA PROJECTS - WEST MALI

The Dandoko and Moussala Projects are located within the Kenieba Inlier of western Mali and lie within 30km east of B2Gold's 5.15Moz Fekola Project and 50km south-southeast of Randgold's 12.5Moz Loulo Mine (Figure 1).

Figure 1: Location of Dandoko and Moussala Projects in West Mali

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27 JANUARY 2017

AUGER DRILLING

An initial 40,000m auger geochemical program commenced at Dandoko and Moussala in October, with four drill rigs operating at Dandoko and one auger drill rig operating at Moussala at quarter end.

At Dandoko, initial auger drilling concentrated on regional extensions to the gold discoveries at Diabarou and Disse before stepping out to test other potential targets on a 400m x 100m spacing within the remainder of the project area.

At Moussala, auger drilling is testing several previously outlined geochemical and geological targets on a 400m x 100m spacing, where previous soil sampling returned peak gold-in-soil results of up to 0.54g/t Au.

The auger drilling is intended to improve the geochemical understanding of the extensive target areas by cheaply and efficiently penetrating below the extensive tracts of lateritic and transported cover that mask the underlying geology.

At quarter end, a total of 1,973 holes for 21,277m had been completed at Dandoko and a further 119 holes for 1,205m at Moussala at an average hole depth of 11m. The location of these holes is shown in Figure 2.

The first batch of assay results received late in the quarter were very encouraging, with a strong, coherent gold trend delineated at the newly named Seko area, located some 1.6km to the northeast of Disse prospect where diamond drilling recently intersected 13m at 4.69g/t gold (refer Figures 2 and 3). Seko extends for more than 1.2km with gold grades of up to 3.28g/t gold and was defined by an initial 400m line spacing with infill drilling at a 200m line spacing in the south.

The Seko trend also extends to the north of artisanal workings, which consist of shallow pits within the lateritic profile and upper saprolite zone where free gold is being recovered.

The auger drilling program will continue to test the regional-scale trends extending from the high grade Diabarou and Disse gold discoveries prior to the systematic evaluation of other targets during the March 2017 quarter.

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27 JANUARY 2017

Figure 2: Planned and completed (at quarter end) auger drill hole locations over gold-in-soil anomalies and location of new Seko prospect.

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Oklo Resouces Limited published this content on 27 January 2017 and is solely responsible for the information contained herein.
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