Oriole Resources Plc

('Oriole' or 'the Company')

Update on Salary Sacrifice Scheme

Oriole Resources PLC, the AIM-quoted exploration company focussed on West Africa, announces an update on the extension to the salary sacrifice scheme referred to in the Announcement dated 2 November 2022 and in which all directors are participating. The sixth tranche of gross salary to be sacrificed, totalling £7k, has been converted, using the 30-day VWAP on 31 December 2022 (0.1558 pence), to 2,725,021 new ordinary shares of 0.1p each in the Capital of the Company ('Ordinary Shares') as set out below:

[1]Note: Discrepancies may occur due to rounding.

Following the issue of these shares, the Directors will collectively hold 4.22% of the issued share capital of the Company as outlined in the above table.

The shares will be issued as fully paid and will rank pari passu in all respects with the existing Ordinary Shares, including the right to receive dividends and other distributions declared on or after the date on which they are issued.

Application will be made to the London Stock Exchange for the Shares to be admitted to trading on AIM ('Admission') at 8.00 a.m. on or around 9 January 2023.

Total Voting Rights

Following Admission of the Shares, the Company's issued share capital will be 2,726,066,861 Ordinary Shares. This figure of 2,726,066,861 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

Further details of the PDMR dealings are included below. This information has been provided in accordance with Article 5(1)(b) of the Market Abuse Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018.

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For further information please visit www.orioleresources.com,  @OrioleResources on Twitter, 

or contact:

Notes to Editors:

Oriole Resources PLC is an AIM-listed exploration company, operating West Africa. It is focused on early-stage exploration in Cameroon (Bibemi, Wapouzé and Central Licence Package projects) and the more advanced Senala gold project in Senegal, where IAMGOLD has the option to spend US$8 million to earn a 70% interest. IAMGOLD has recently notified the Company that it has, under the terms of the agreement, met the first commitment by spending US$4 million within an initial four years. Subject to the Company completing a review of these expenditures, IAMGOLD will acquire a 51% interest in Senala. The Company also has several interests and royalties in companies operating throughout Africa and Turkey that could deliver future cash flow, and it continues to assess new opportunities in both regions.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them