MB01-S Step-out Drilling Programme Final Results

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")

Final Results for the MB01-S Step-out Drilling Programme

Including 16.40m at 1.65g/t Au

Oriole Resources PLC (AIM: ORR), the AIM quoted gold exploration and development company focused on Central and West Africa, is pleased to announce the final set of results from the recently completed step-out diamond drilling programme (the "Programme" or "Phase 3") at the MB01-S deposit at its 50% owned Mbe orogenic gold project ("Mbe" or the "Project") in Cameroon.  The total JORC Inferred Mineral Resource Estimate ("MRE") at Mbe currently stands at 1.23 million oz contained gold ("Au") across both the MB01-S and MB01-N deposits.  Results delivered from the step-out programme have supported northern, western and southern extensions to the existing geological model and it is anticipated will increase the total resource at MB01-S.  An updated MRE is now being prepared and will be published later in Q3-2026.

Highlights

·    Results for the final two holes in the Programme, MBDD048 to MBDD049, have returned a further 13 mineralised gold intersections (using a 0.20g/t Au lower cut-off grade), including:

o  MBDD048

▪    16.40m at 1.65g/t Au from 116.80m depth, including 3.00m at 4.72g/t Au and 5.00m at 2.05g/t Au

▪    2.00m at 1.20g/t Au from 87.60m

▪    2.20m at 1.07g/t Au from 25.50m

o  MBDD049

▪    27.00m at 0.61g/t Au from 202.50m depth, including 5.00m at 1.71g/t Au and 3.00m at 1.05g/t Au

·    The holes have confirmed a south-eastwards extension to the mineralisation which, together with the northern and western extensions reported previously in the Programme, underpins the potential for an expansion to the existing MB01-S MRE. 

·    Preparation of an updated MRE for MB01-S is underway with its publication expected later in Q3-2026.

Chief Executive Officer of Oriole Resources, Martin Rosser, said: "The final drill hole results for the MB01-S Step-out drilling conclude a successful programme and it is anticipated should increase the total resource at MB01-S from the current 870koz Au.  Notably, MBDD049 supports the potential for further mineralised zones at depth to the east of the Phase 1 drilling, which will be considered in future programmes.

"The Company's independent geological consultant's updated MRE will be published later this quarter." 

Figure 1. Plan view of MB01-S showing the step-out programme drill hole collar locations, selected best results from hole MBDD048 to MBDD049, previously reported best intersections from holes MBDD040 to MBDD047, drill collars from Phase 1 drilling and gold mineralised wireframes for the current 870koz Au MRE within a US$3,200/oz pit shell.

Further Details

On 8 June 2026 the Company announced the completion of a step-out diamond drilling programme at the MB01-S deposit for 2,476.80m in 10 holes.  The Programme was designed to expand the existing 870,000oz contained gold JORC MRE at MB01-S by testing the potential lateral and depth extensions of the mineralised system.  All holes were drilled towards the west (at an azimuth of 270 degrees) and at an inclination of -50 degrees, therefore in the same orientation as the majority of holes in the Phase 1 drilling programme (see announcement dated 2 September 2025).

The Company today reports the final set of results for the programme, related to holes MBDD048 and MBDD049, which targeted the southeastern extension of MB01-S.  Both holes were drilled on the southernmost fence line to date, N872306, to the east of previously reported holes MBDD046 and MBDD047 (see announcement dated 1 July 2026). 

Table 1. Calculated intersections for Phase 3 holes MBDD048 and MBDD049, using a 0.20g/t Au lower cut-off grade.  Results greater than 1.00g/t Au are in bold and 'including' intervals are in bold italics.

Both holes returned gold-mineralised intersections, related to sulphide-telluride veinlets and breccias, and continued to demonstrate narrow higher gold grade zones within wider envelopes of lower grade mineralisation, for example 16.40m at 1.65g/t Au, including 3.00m at 4.72g/t Au and 5.00m at 2.05g/t Au (MBDD048) and 27.00m at 0.61g/t Au, including 5.00m at 1.71g/t Au and 3.00m at 1.05g/t Au (MBDD049).  These results are expected to extend the limits of the current MRE to the southeast.

Figure 2. Core box photograph showing individual sample values within the reported 3.00m at 4.72g/t Au interval which sits within the wider 16.40m at 1.65g/t Au intersection from hole MBDD048.  The red lines on the core mark the start and finish of the labelled mineralised intervals.

Figure 3. Simplified cross section of fence line N872306, with newly reported results for holes MBDD048 and MBDD049.  Previously reported best results from MBDD046, MBDD047 are also shown together with results for trench line MBT009, located approximately 10m north of the fence line.

As previously announced, the MRE wireframes for modelling will be rotated from a N-S to NNW-SSE orientation (see announcement dated 8 June 2026), as a result of more detailed structural data since the maiden MRE.

In the context of the revised deposit orientation, mineralisation in MBDD048, potentially represents the along-strike extension of mineralisation previously reported in the core zone of mineralisation across holes MBDD008 and MBDD002 (N872482), and MBDD021 and MBDD022 (N872382) (see announcements dated 3 February 2025, 12 May 2025, and 22 September 2025).  MBDD008, which is located approximately 200m to the northwest of MBDD048, returned 86.50m grading 1.36g/t Au, therefore one of the best results from drilling to date at MB01-S.

MBDD049 is the most eastern hole drilled to date, and the intersection of the core mineralised zone at approximately 200m downhole depth, supports a south to southeastern plunge to the mineralisation at this point in the system.  Furthermore, this could support the potential for further mineralised zones at depth to the east of the Phase 1 drilling, along fencelines N872382 and N872482 and this will be considered in future programmes.

Oriole has now engaged its independent consultant to prepare an updated JORC MRE for MB01-S, which currently stands at 870koz contained Au and remains open in all directions.  The updated MRE is expected later in Q3-2026 and any uplift will also increase the total resource base at Mbe which currently stands at 1.23Moz Au.

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

Competent Persons' Statement

The information in this announcement that relates to the MREs are based on data compiled by 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 MREs, and that all material assumptions and technical parameters underpinning the MREs continue to apply.

The technical information in this release that relates to exploration results and any planned exploration programme(s) 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 and development exploration company, with projects in Central and West Africa.  It is currently focused on projects 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 global JORC Inferred MRE of 1.23Moz contained gold at MB01, consisting of 870koz at 1.09g/t Au for the MB01-S deposit, and 360koz at 1.05g/t Au for the MB01-N deposit.  A fully funded step-out drilling programme has recently been completed at MB01-S with the aim of increasing the total resource at Mbe, where an update MRE is expected in Q3-2026.  Following the completion of the MB01-N drilling programme, and by meeting various financial commitments, BCM has earned a 50% interest in the Mbe project, and Oriole has recently completed a corporate restructuring to confirm the Company's and BCM's respective 50% interest in Mbe.  Drafting of a JV partnership agreement is nearing completion.

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 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 (using a gold price of US$1,800/oz) 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 mainly 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 discovery, 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 deposit, 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 at the MB01-S target 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. 

At the MB01-N target, 700m to the northeast of MB01-S, a 2,982.80m drilling programme in 15 holes was completed in February 2026.  Best drilling results included 21.70m at 3.13g/t Au including 7.20m at 8.19g/t Au (from hole MBDD026), 56.20m at 0.99g/t Au, including 14.60m at 2.03g/t Au and 24.00m at 0.37g/t Au, including 2.00m at 2.21g/t Au (from hole MBDD039), and 16.10m at 2.49g/t Au including 1.00m at 28.60g/t Au, 2.00m at 6.57g/t Au and 14.80m at 0.73g/t Au (from hole MBDD027).  The maiden MRE was published in April 2026 and stands at 360,000oz at 1.05g/t, using a US$3,200/oz gold price and a lower cut-off grade of 0.40g/t Au.  This increased the total resource at Mbe which currently stands at 1.23Moz contained Au.

Mineralisation at both deposits remains open in all directions and at depth.  A step out drilling programme at MB01-S has recently been completed and all results from the 10-hole programme have been announced.  An updated MRE is currently being prepared and is expected later in Q3-2026.

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