Okapi Resources Ltd: Extension to Closing Date on Athabasca Projects Acquisition

Perth, Australia - Okapi Resources Ltd. (ASX:OKR) (FRA:26O) (OTCMKTS:OKPRF) is pleased to announce that it is has extended the Closing Date on the proposed acquisition of the Uranium exploration properties in the Athabasca Basin in Canada from ALX Resources (TSXV:AL) to no later than 28th January 2022. The details of the proposed acquisition were announced to the market on the 9th November 2021.

Okapi's management team have been working closely alongside an independent highly reputable technical services firm located in Saskatchewan to assist in ranking and prioritising the properties by geological prospectivity. The data review and high priority target generation is well advanced and Okapi will outline the exploration strategy going forward on the Athabasca properties upon closing the transaction in late January 2022.

Okapi's Managing Director, Mr Andrew Ferrier said:

"We are excited by the opportunity to acquire high grade exploration assets in the Athabasca basin, the world's premier uranium district. The assets will be highly complementary to Okapi's existing portfolio of North American uranium assets. The extension of the Closing Date allows Okapi more time to compile, review and analysis the substantial database of radiation, geochemical and geophysical data. Drilling data is also currently being reviewed and incorporated into the Company's database"

The Athabasca properties includes six projects across 75 granted mineral claims covering over 55,000 hectares. Importantly, all of the projects are located along the margin of the Athabasca Basin or in the Carswell Impact Structure where depth to the unconformity is relatively shallow being 300 metres or less and typically closer to 100 metres, making them ideal for targeting shallow high-grade unconformity-related uranium deposits. Okapi will initially focus on the Cluff Lake Exploration Project and the Newnham Lake Project where the team will be targeting high-grade unconformity-related uranium deposits.

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About Okapi Resources Ltd:

Okapi Resources Ltd. (ASX:OKR) is a minerals exploration company focused on the discovery and commercialisation of mineral deposits in Australia.

Okapi's primary objective is to discover and develop mineral resources from its current portfolio. The Company has carefully selected projects with historical workings and excellent results. Okapi has a team of professionals with an exemplary record of success and with a particular history in Australia.

Okapi is also pursuing a growth strategy that aims to appraise and secure further exploration and development opportunities within gold and mineral endowed districts.

Source:
Okapi Resources Ltd.

Contact:

Leonard Math Executive Director and Company Secretary Okapi Resources Ltd. T: 08 6117 9338 E: leonard.math@okapiresources.com