CORE ENERGY MINERALS LTD — Capital/Financing Update 2015

Aug 5, 2015

OAKDALE RESOURCES LIMITED

ACN 009 118 861

8 Maud Street, Newstead Qld 4006 PO Box 3199 Newstead Qld 4006

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Phone: (07) 3624 8188 Fax: (07) 3624 8133 Email: info@oakdaleresources.com.au Web: oakdaleresources.com.au

6 August 2015

ASX ANNOUNCEMENT For Immediate Release

METALLURGICAL TESTWORK CONFIRMS RECOVERY OF LARGE FLAKE GRAPHITE

Highlights

• Metallurgical test work confirms Oakdale Resources ability to recover flake graphite without the need for crushing or grinding.

• Positive step in Oakdale Resources objective of becoming a low cost producer of premium graphite.

Oakdale Resources Limited (ASX: OAR) is delighted to announce that its interim metallurgical test work, carried out in the Adelaide laboratory of Bureau Veritas, has confirmed the preservation of the flake graphite at the Oakdale graphite project without the need to crush the soft graphitic clays.

The results indicate optimal recoveries of jumbo, large and fine flake graphite should be achievable. This has always been the Company’s objective. This interim test work also indicates that a proportion of the plant feed could be removed without losing significant amounts of the graphite.

Additional test work and assessment is currently underway to determine the best way to optimise the company’s recoveries and to determine the best possible treatment and recovery options.

Four samples obtained by diamond drilling throughout the mineralised zone were metallurgically tested with the successful recovery of the contained flake graphite.

A summary of the feed sizings received from Bureau Veritas are presented below.

Hole No.DDHOAD 001DDHOAD 002DDHOAD 003DDHOAD 004	Head GradeDistribution of TGC(TGC)Fine to Jumbo FlakeCrystalline Amorphous14.2%+ 0.038mm to -5.600mm - 75.5%- 0.038mm - 24.5%11.7%+ 0.038mm to -5.600mm - 59.3%- 0.038mm - 40.7%14.6%+ 0.038mm to -5.600mm - 89.5%- 0.038mm - 10.5%3.8%+ 0.038mm to -5.600mm - 92.1%- 0.038mm - 7.9%

Further detailed metallurgical testing is being carried out to more accurately define the distribution of the Total Graphitic Carbon (TGC).

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Importantly the results achieved to date do demonstrate that the flake graphite distribution is from jumbo flake through to crystalline amorphous.

These results confirm Oakdale Resources ability to recover jumbo, large fine flake and crystalline amorphous graphite without the usual requirement of a crushing or grinding circuit. This will significantly reduce the cost of the company’s graphite production.

For further information please contact Mr. John Lynch on (07) 3624 8188.

Yours faithfully

John E Lynch B.Sc (Sydney) M.Sc. (James Cook) FAICD and FAIMM Managing Director

Competent Person’s Statement

The information in this Report for Oakdale Resources Limited was compiled by Mr John Lynch who is a member of the Australian Institute of Geoscientists and Fellow of the Australasian Institute of Mining and Metallurgy.

John Lynch has sufficient experience, which is relevant to the styles of mineralisation and types of d eposits under consideration and to the activity to which he is undertaking to qualify as a “Competent Person” as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.’

John Lynch consents to the inclusion in this Report of the matters set out in the Report based on the information in the form and context in which it appears.

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