Oakley Ventures Inc., (Stock Exchange: N/A), NI 43 101, May 6th, 2020

• Koster Dam Project, Au Vein Mineralization,
• No Resources Estimated

Summary

The Koster Dam project
(4,535 hectares) consisting of ten mineral claims is located approximately 80kilometres
south of the city of Williams Lake in south-central British Columbia. The
southern boundary of the claims is approximately eleven kilometres north of the
former producing Blackdome gold-silver mine. The first of the current claims
were staked in 2012 to cover prospective geology in an area predominantly
underlain by Eocene and Miocene volcanic and volcaniclastic rocks. Unpublished
and published records indicate that heavy mineral sampling completed in
drainages within the claims in the late 1980’s returned highly anomalous gold
responses from many sites.

A rock sampling program
was completed by Cariboo Rose Resources in 2012 and was furthered in 2013 with
a program of silt sampling and rock sampling in which 134 silt samples, “sluiced”
silt samples androck samples were collected and analyzed (Morton, 2013). This
work was continued in 2014 with a crew of three collecting a further 57 samples
(usually a silt sample, sluiced silt sample and panned silt sample from each of
19 sites). A very strong and consistent gold anomaly was outlined on very small
subsidiary drainage (Morton, 2014). In 2015 a small soil grid was established
(258 samples) and a further three rock samples collected (Morton, 2015). A 2017
exploration program consisted of prospecting and sampling of the 4 newly
acquired claims. Thirty-one rock samples and eleven stream sediment samples
were collected and analyzed (Van Den Bussche,2017). The 2018 program comprised
82 soil samples, 44stream sediment samples and 19 rock samples. Two clay
altered rock samples returned 0.208ppm goldand 0.415ppm gold respectively.
Seven stream sediment samples in the Borin Creek and Central areas of the
property returned anomalous (>0.3ppm Au) gold values. Two small magnetometer
surveys, totaling 7.6 line kilometres were also emplaced (Kikauka, 2018). An
additional 3.6 line kilometres of magnetometer survey was completed in January
2020 (Kikauka, 2020). Geochemical fieldwork was carried out in 2019 on the
Borin Creek area (Kikauka, 2019) focused on following up the upstream (east extension)
of Au bearing mineralization found in 2018 (rock chip sample 1815 with 0.208
ppm Au and sample 1816 with 0.415 ppm Au). Geochemical fieldwork in 2019
consisted of 52 soil gas hydrocarbon samples covering a 1.25 X 0.15 km area, 40
soil samples submitted for Au & multi-element ICP analysis covering an area
of 0.95 X 0.15 km area. As well, 4 stream sediment samples, and 3 rock chip
samples were taken from the Borin Creek drainage. One of the samples from Borin
Creek, described as an angular piece of float (Eocene age andesite containing
quartz, chlorite and limonite) returned an analysis of 1.23 g/t gold. Nine
samples collected along the access road in 2018 and analysed in 2019 did not return
any significant results (Morton, 2019).

Further work is
recommended to locate the source of the consistently anomalous gold values in a
small central creek located on the southeastern side of the claim group and to
further investigate several other isolated sample sites which have returned
highly anomalous gold results.

A program of further
geochemical sampling (silts and soils) is recommended with an induced polarization
survey to detail the most promising areas resulting from the geochemical work.
An airborne geophysical survey would be a useful adjunct to this work to
identify areas with linear high resistivity features and allow a more focused
exploration program to continue. An ongoing program is recommended. Estimated
costs for the geochemical work are $67,700 and for the surface geophysical work
is $45,200. Exploration expenditures completed by Cariboo Rose Resources on the
Koster Dam Project between 2014 and 2017 total $81,255.

Exploration expenditures
for fieldwork completed on Koster claim group by Oakley Ventures in 2017 total
$25,486.32, in 2018 total $35,198.16 and in 2019 total $14,334.64. Oakley
Ventures has optioned Koster Dam Property from Cariboo Rose Resources in 2017 whereby
Oakley can earn 50% of Koster Property by carrying out terms of agreement with
Cariboo Rose.