The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR.  Upon the publication of this announcement, this inside information is now considered to be in the public domain.

Oriole Resources PLC

('Oriole Resources' or the 'Company')

Extension of Warrant Expiry Date

Oriole Resources PLC (AIM: ORR), the AIM quoted gold exploration company focused on West and Central Africa, announces the extension of the term to expiry of 152,777,778 of the remaining  warrants over the same number of ordinary shares in the Company (the 'Warrants'), such Warrants being issued to participants in the June 2022 equity financing as announced on 29 June 2022.  

The Warrants, exercisable at 0.25 pence per share, were due to expire on 13 July 2025. The Board has granted an extension of the life of the Warrants to 13 January 2026 at the same price of 0.25p per share and has sought and been given approval for this extension, as required, by more than 75% of the Warrant holders. No other conditions relating to the Warrants have been amended.

Two of the Company's Directors, Eileen Carr and Robert Smeeton, respectively hold 1,611,111 and 3,166,666 warrants that are potentially impacted by this change in the Warrant terms. Both Directors recused themselves from voting on the change in terms, and have agreed that their own warrant holdings shall lapse on 13 July 2025. 

The Warrants are also subject to an accelerator provision, such that if at any time during the duration of the Warrants the 10 day volume weighted average price of Oriole ordinary shares exceeds 0.60 pence per share, the Company may give Warrant holders notice to exercise their Warrants within 10 business days following the Company's notice and to pay the exercise price in full within 15 business days following the Company's notice, failing which the Warrants will automatically expire.

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Notes to Editors

Oriole Resources PLC is an AIM-quoted gold exploration company, with projects in West and Central Africa.  It is focused on early-stage exploration in Cameroon, where the Company has reported a Resource of 460,000oz contained gold at 2.06g/t Au in the JORC Indicated and Inferred categories at its 90% owned Bibemi project and has identified multi-kilometre gold and lithium anomalies within the district scale Central Licence Package project.  BCM International is currently earning up to a 50% interest in the Bibemi and Mbe projects in return for a combined investment of US$1.5 million in signature payments, up to US$8 million in exploration expenditure, as well as JORC resource-based success payments.

At the Senala gold project in Senegal, AGEM Senegal Exploration Suarl ('AGEM'), a wholly owned subsidiary of Managem Group, has completed a six-year earn-in to acquire an approximate 59% beneficial interest in the Senala Exploration Licence by spending US$5.8 million.  The Company has reported a Resource of 155,000oz contained gold at 1.26g/t Au in the JORC Inferred category for the Faré South prospect, and an additional, complimentary Exploration target range of 17 to 24 million tonnes at a grade of 0.69 to 0.84g/t Au for 380,000oz to 650,000oz contained gold for all prospects at Senala.  Discussions on the formation of a joint venture company are currently underway.  The Company also has several interests and royalties in companies operating in East Africa and Turkey that could give future cash payments.

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