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')

Phase 1 Drilling Completed at Mbe, Maiden Mineral Resource Estimate to Follow

Oriole Resources PLC (AIM: ORR), the AIM quoted gold exploration company focused on West and Central Africa, is pleased to report that Phase 1 drilling is now complete at its 90%[1] owned Mbe orogenic gold project ('Mbe' or the 'Project') in Cameroon, for 6,828.40m in 24 drill holes at the MB01-S target. 

Results for the remaining four holes in the programme are expected later this month, with the maiden pit-constrained JORC Mineral Resource Estimate ('MRE') to be published as soon as possible thereafter in Q4-2025.

Commenting, Chief Executive Officer of Oriole Resources, Martin Rosser, said:

"Completion of the Phase 1 maiden drilling programme is an important milestone, and one which has been achieved by our dedicated field team working hard through the Cameroon wet season.  Now we are eagerly looking forward to the independent consultant's maiden JORC mineral resource estimate in Q4-2025 and will announce the results for the remaining holes ahead of that".

Further Details

With 285 gold ('Au') mineralised intervals reported to date, a selection of best results from the programme thus far are shown in Table 1.

Table 1. Selection of best gold mineralised drill intersections reported to date from Phase 1 holes (MBDD001 to MBDD020), using a 0.20g/t Au lower cut-off grade.

One planned drill hole, located to the northeast of the grid, could not be completed due to weather-related access issues.  However, it is not expected to have a significant detrimental impact on the pit-constrained JORC MRE for MB01-S, which is anticipated for release in Q4-2025. 

As previously reported, the Competent Person's site visit for the MRE has already been completed and so the estimation work will begin in earnest as soon as results for the remaining four holes have been received later this month.  In the meantime, Forge International, the Company's Independent consultant, has confirmed that the trenching, as well as the drilling, can be included in the MRE, which should help to maximise conversion to Resource ounces over that target. 

Since the mineralised system is currently open in all directions, any MRE will be provisional and will be open to upgrade and expansion through further exploration.  Any mineralised material that doesn't get converted into the MRE, will remain in the Exploration Target category, including the material at MB01-N which is yet to be drilled.

The Company looks forward to reporting the final drilling results and the MRE later this year.

Further information can be found in the JORC Table 1 disclosure on the following page of the Company's website: https://orioleresources.com/projects/mbe/. 

Enquiries:

Competent Persons Statement

The information in this announcement that relates to the Exploration Target is based on data compiled by Mr. Robert Davies, EurGeol, CGeol, an independent consultant to Oriole.  Mr Davies is a Director of Forge International Limited.  Mr Davies has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the JORC Code.  Mr Davies consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.  The Company confirms that it is not aware of any new information or data that materially affects the Exploration Target, and that all material assumptions and technical parameters underpinning the Exploration Target continue to apply.

The technical information in this release that relates to exploration results and the planned exploration programme has been compiled by Mrs Claire Bay (Executive Director).  Claire Bay (MGeol, CGeol) is a Competent Person as defined in the JORC code and takes responsibility for the release of this information.  Claire has reviewed the information in this announcement and confirms that she is not aware of any new information or data that materially affects the information reproduced here.

Glossary and Abbreviations

Notes to Editors

Oriole Resources

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 anomalies within the district scale Central Licence Package project, including the Mbe project.  At Mbe, the Company has published a maiden Exploration target range of 33 to 44Mt at a grade of 0.77 to 0.95g/t Au for 0.82Moz to 1.34Moz contained gold for the MB01 prospect, and a maiden Resource for the MB01-S target is scheduled for Q4-2025.  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, complementary Exploration Target range of 17 to 24Mt at a grade of 0.69 to 0.84g/t Au for 380,000 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

Background on Mbe

Mbe, with a licence area of 312km², is an orogenic gold project located within the broader 2,266km² 'Eastern CLP' package of five contiguous gold focused exploration licences in the Adamawa Region of central Cameroon.  Since 2022, the Company's systematic exploration programmes have identified a 3km long, NE trending prospect, named MB01, which sits within a wider 12.5km long zone of gold-in-soil anomalism that trends ENE.

At MB01, increased dilation at the sites of structural intersections (steeply dipping NNE and NNW trending shear structures) is believed to have resulted in enhanced levels of gold deposition at the northern target, MB01-N, and MB01-S, the southern target.  Gold mineralisation at these targets comprises high-grade, sulphide- and telluride-rich quartz veins, veinlets and breccias within wider envelopes of pervasive, lower-grade gold mineralisation. 

After highly encouraging results from infill soil sampling, rock-chip sampling, and trench sampling, a fully funded maiden drilling programme commenced at the MB01-S target in late November 2024 and is planned for 7,050m in 25 holes.  BCM International has acquired an initial 10% interest in Mbe and is earning up to a further 40% interest by spending up to US$4 million on exploration.

An Exploration Target[2] range of 33 to 44Mt at 0.77 to 0.95g/t Au for 0.82 to 1.34Moz contained Au was published in July 2025, based on diamond drilling results from holes MBDD001 to MBDD013 at MB01-S, as well as trenching data, and the interpretation of geophysical and geochemical anomaly maps from both MB01-N and MB01-S.  The Exploration Target remains open in all directions and at depth and it is anticipated that it will be succeeded by a maiden MRE in Q4 2025, following completion of the Phase 1 drilling programme later this quarter.