CORE ENERGY MINERALS LTD — Capital/Financing Update 2020

Jun 4, 2020

ACN 009 118 861

ASX Announcement

5 June 2020

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Entitlement Offer Closes Fully Subscribed

Oakdale Resources Limited ( ASX: OAR ) (“ Oakdale ” or “ the Company ”) advises that the Entitlement Offer, detailed in the Prospectus issued by the Company on 4 May 2020 and lodged with ASIC on that date, closed on 2 June 2020. Eligible Shareholders were offered the right to subscribe for 1 new share for every share held on the Record Date, at an issue price of $0.002 per new share, together with 1 free attaching quoted option for every 2 new shares subscribed for, to raise up to approximately $1.4 million (before costs).

Total consideration received from the Applications was $896,918 which equates to 64% take up by Eligible Shareholders. The Company has placed the remaining Shortfall of $505,382 due to strong investor demand, which was closed well oversubscribed.

The Board and Management are very pleased with the response to this capital raising and entitlement offer and thank shareholders for their support, especially given the current economic climate. Oakdale can now move positively to progress activities at key projects such as the Lambarson Canyon gold drilling program in Nevada , the Peru Chimu Gold project , as well as assessment and design of initial exploration planning at the newly acquired Crown PGE-Cu-Ni-Au project in south Western Australia, 70km east of Perth. These projects have significant potential for Oakdale and the board looks forward to providing further information to shareholders as matters progress.

The results of the Offer are as follows:

New ordinary and additional shares taken up by shareholders: 448,458,941	New ordinary and additional shares taken up by shareholders: 448,458,941	(64%)
Shortfall shares placed:	252,691,279	(36%)
Total numbers of shares to be issued:	701,150,220	(100%)

The Shares and the free attaching Quoted Options subscribed for under the Offer will be issued on 10 June 2020 in accordance with the revised timetable for the Entitlement Offer announced on 20 May 2020.

Announcement authorised by:

Chris Gale Executive Chairman

Unit 3, 32 Harrogate Street, West Leederville, WA 6007

P: +61 8 6117 4797 E: info@oakdaleresources.com.au W: www.oakdaleresources.com.au

ASX: OAR ACN: 009 118 861

For further information please contact:

Chris Gale Peter Taylor Executive Chairman Investor Relations Oakdale Resources Ltd. NWR Communications. P: +61 8 6117 4797 P: +61 412 036 231

About Oakdale Resources Limited

Oakdale Resources is an ASX listed precious metals explorer and aspiring producer. Oakdale recently signed an option agreement to acquire Alpine Resources, which controls three gold exploration projects in Nevada, USA. The projects are in a region that hosts several multi-million-ounce gold deposits. Oakdale’s Peruvian subsidiary Ozinca Peru SAC, owns a CIP Gold lixiviation plant, strategically located proximal to thousands of small gold miners in Southern Peru. Oakdale has also entered into a binding term sheet to acquire Australian Precious Minerals Pty Ltd, holder of the Crown PGE-Nickel exploration asset in Western Australia. Crown adjoins the Julimar polymetallic discovery.

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