Significant Update from MB01-N Drilling

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")

Further Significant Intersections Returned from MB01-N Drilling

Oriole Resources PLC (AIM: ORR), the AIM quoted gold exploration company focused on West and Central Africa, is pleased to provide an update on its 90%[1] owned Mbe gold project in Cameroon ("Mbe" or the "Project"), where it has received further results from the ongoing 2,950m maiden diamond drilling programme at the MB01-N target (the "Programme").  

Highlights

·    Results from holes MBDD027 to MBDD030 have returned further significant gold intersections, including:

MBDD027

o  16.10m at 2.49g/t Au from 152.40m, including 1.00m at 28.60g/t Au from 159.50m

o  2.00m at 6.57g/t Au from 52.00m, including 1.00m at 12.90g/t Au

o  14.80m at 0.73g/t Au from 106.50m including 3.00m at 1.37g/t Au, 1.10m at 2.30g/t Au and 1m at 1.21g/t Au

o  7.35m at 0.59g/t Au from 73.30m, including 3.00m at 1.23g/t Au

MBDD028

o  17.10m at 0.60g/t Au from 55.00m, including 2.00m at 1.42g/t Au and 1.00m at 3.72g/t Au

MBDD029

o  2.00m at 1.50g/t Au from 128.10m

MBDD030

o  2.00m at 0.91g/t Au from 127.50m

o  3.10m at 0.74g/t Au from 139.90m including 1.00m at 1.09g/t Au

·    The mineralisation in MBDD027 is interpreted to be the along strike continuation of reported mineralisation in hole MBDD026, 100m to the north.  MBDD027 has also confirmed the system at MB01-N to at least 160m vertical depth from surface.

·    The fully funded MB01-N drilling programme is now approximately 70% complete, with over 2,000m drilled in ten holes.  MBDD034, is nearing completion as a scissor hole that is being drilled towards the east to fully assess structures identified in holes MBDD026 and MBDD032 on the same line.

·    The programme is expected to complete later in Q1-2026, after which the Company's consultant will prepare a maiden JORC Resource for the target to add to the existing 870,000oz JORC Resource at the nearby MB01-S deposit.

Chief Executive Officer of Oriole Resources, Martin Rosser, said: "We are pleased to report another set of significant results from the drilling at MB01-N, particularly good is the 16.10m at 2.49g/t Au from 152.40m in hole MBDD027.  Moreover, MBDD027 has returned the deepest intersection at MB01-N to date, confirming the system to at least around 160m vertical depth from surface.  The programme continues to progress at a good rate and is already over two thirds complete.  We look forward to reporting further results over the coming weeks until its completion."

Figure 1. Diamond drilling progress at the MB01-N target with selected best results to date.  Results published today are in blue boxes (MBDD027 to MBDD030), and previously reported results are in white boxes (MBDD025 and MBDD026).  All holes are planned to be drilled at an inclination of -50˚.  

Further Details

The Programme, which commenced in November 2025, has been planned to test the MB01-N target, which is located 700m to the northeast of the MB01-S deposit, where the Company has previously reported a maiden JORC Inferred Mineral Resource Estimate of 24.8Mt at a grade of 1.09g/t Au for 870,000oz contained gold (see announcement dated 21 October 2025).  

The programme is progressing well and is 70% complete, with nine holes (MBDD025-033) drilled and a tenth hole (MBDD034) nearing completion.  The Company today reports the results from MBDD027 to MBDD030.  A total of 25 mineralised intersections were returned (Table 1; using a 0.20g/t Au cut-off), with narrow higher-grade zones and wider envelopes of pervasive, lower-grade material, as seen at the MB01-S target and in the first two holes at MB01-N (MBDD025 and MBDD026). 

This is evidenced in hole MBDD027, which returned 1.00m at 28.60g/t Au within a broader zone of 16.10m at 2.49g/t Au from 152.40m downhole depth, as also observed in previously reported hole MBDD026.  MBDD027 is located approximately 100m to the south of MBDD026, which intersected 21.70m at 3.13g/t Au, including 7.20m at 8.19g/t Au (see announcement dated 07 January 2026), and is interpreted to reflect an along strike extension of the mineralised structure to the NNW.  MBDD027 has returned the deepest intersection at MB01-N to date, confirming the system to at least 160m vertical depth from surface.

An additional wide zone of mineralisation was reported in hole MBDD028, located approximately 300m to the north of MBDD026.  This correlates with intervals previously reported for hole MBDD025, 100m to the south of MBDD028, including 16.20m at 0.77g/t Au including 10.10m at 1.08g/t Au (see announcement dated 07 January 2026); again, this is likely to reflect the continuity of the mineralised structure between these holes.    

A review of the QAQC samples has confirmed that the data falls within acceptable limits of error.  Hole MBDD028 was selectively sampled and, following receipt of these results, an additional zone has now been sampled.  Any additional results will be reported alongside the next reported holes.

Table 1. Selected intersections from MBDD027 to MBDD030 using a 0.20g/t Au lower cut-off grade.  Results > 1.00g/t Au are highlighted in bold.

The geological and structural controls at MB01-N are broadly similar to MB01-S, with the dominant lithologies consisting of the orthogneiss-amphibolite basement rock, which in turn has been intruded by numerous shear-hosted granitic felsic dykes and late mafic dykes.  The mineralisation is structurally controlled, predominantly hosted by veins and breccias within shear-hosted felsic intrusions.  The mineralisation typically occurs within steeply dipping shear corridors, with mineralisation enhanced by brittle failure (brecciation) of the felsic intrusions.  MBDD034 is being drilled as a scissor hole (towards an azimuth of 090˚ rather than 270˚) to compliment MBDD026 and MBDD032 and aims to investigate the key structures controlling mineralisation in the hole and provide further information for the overall geological model.

Figure 2. Simplified cross section of fence line N873992 with results from MBDD027 and interpreted mineralised zones.  

Figure 3. Simplified cross section of fence line N874419 with results from MBDD028 and interpreted mineralised zones.

Figure 4. Simplified cross section of fence line N874318 with results from MBDD025 and MBDD029 and interpreted mineralised zones.  

Figure 5. Simplified cross section of fence line N874025 with results from MBDD030 and interpreted mineralised zones.  

MB01-N has a JORC Exploration Target of 15Mt to 20Mt at 0.77 to 0.94g/t Au for 370,000oz to 605,000oz contained gold, and offers significant upside to the total JORC Resource potential of the Mbe project.  The Programme has been designed to maximise conversion from an Exploration Target to a JORC Resource. 

Upon completion of the Programme, targeted for late Q1-2026, the Company's partner BCM International Limited will acquire a 50% interest in Mbe.  

Competent Persons Statement

The technical information in this release that relates to exploration results and any planned exploration programme has been compiled by 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.

Enquiries:

Glossary and Abbreviations

Notes to Editors:

Oriole Resources

Oriole Resources PLC is an AIM-quoted gold exploration company, with projects in Central and West Africa.  It is focused on early-stage exploration in Cameroon.

At its district scale Central Licence Package, the Company has identified multi-kilometre long gold anomalies including at its flagship Mbe project.  At Mbe, the Company has published a JORC Inferred MRE of 870,000oz at 1.09g/t Au for the MB01-S deposit, and an Exploration Target range of 15Mt to 20Mt at a grade of 0.77g/t to 0.94g/t Au for 370,000oz to 605,000oz contained gold for the MB01-N target.  A fully funded maiden drilling programme commenced in November 2025 at MB01-N with the aim of converting the existing Exploration Target to a Resource.  BCM is nearing completion of US$4 million in exploration expenditure at Mbe, which will see it earn a 50% interest.

The Company has also reported a Resource of 460,000oz contained gold at 2.06g/t Au in the JORC Indicated and Inferred categories at its 50% owned Bibemi project, where it has applied for an exploitation licence.  In November 2025, BCM completed its earn-in to give it a 50% interest in Bibemi by meeting certain payment conditions including spending a further US$4 million on exploration.  

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 17Mt to 24Mt at a grade of 0.69g/t to 0.84g/t Au for 380,000oz to 650,000oz contained gold for all prospects at Senala.  Best results to date include 20.00m grading 31.13 g/t Au including 10.00m grading 60.98 g/t Au from RC drilling and 59.60m grading 2.20 g/t Au from diamond drilling.  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.

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 four geochemical targets, named MB01-MB04. 

At the 3km long MB01 prospect, 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 the southern deposit, MB01-S.  Gold mineralisation at Mbe 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 was completed in September 2025 for 6,828.40m in 24 holes.  Best drilling results included 86.50m at 1.36g/t Au from 22.00m, including 39.40m at 2.00g/t Au (hole MBDD008), 21.30m at 1.61g/t Au from 2.40m (MBDD012) and 6.15m at 19.67g/t Au from 113.50m, including 1.00m at 119.10g/t Au (MBDD019).  In October 2025, a maiden MRE was published for the MB01-S deposit of 870,000oz at 1.09g/t, using a US$3,200/oz gold price and a cut-off grade of 0.40g/t Au.  Mineralisation at MB01-S remains open in all directions and at depth. 

At the MB01-N target, approximately 700m to the northeast of MB01-S, an Exploration Target range of 15Mt to 20Mt at 0.77g/t to 0.94g/t Au for 370,000oz to 605,000oz contained Au was published in July 2025, based on trenching data and the interpretation of geophysical and geochemical anomaly maps.  The Exploration Target remains open in all directions and at depth, and it is anticipated that drilling of the target will result in a conversion to Resource ounces.  A planned 2,950m drilling programme was commenced in November 2025 and is scheduled for completion in late Q1 2026.

BCM has acquired an initial 10% interest in Mbe and upon completion of the 2,950m drilling programme at MB01-N will acquire a further 40% interest in the project.

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