Excellent Gold Intersection at Mbe Gold Project

Oriole Resources PLC 

('Oriole Resources' or the 'Company' or the 'Group')

Excellent Gold Intersection at Mbe Gold Project in Cameroon

125 gold-bearing intersections now returned from the first eight drill holes, an incredible discovery rate for a maiden drill programme

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 orogenic gold project ('Mbe' or the 'Project') in Cameroon, including very significant positive drilling results.

Highlights

· 125 gold-bearing intersections now returned from the first eight drill holes on the Project.

· 2,667.30 metres ('m') of drilling, delivering approximately one gold intersection for every 21m drilled, is an incredible discovery rate for a maiden drilling programme.

· Results from the latest holes drilled, MBDD007 and MBDD008, have returned a further 31 gold ('Au') mineralised intersections (using a 0.20 gramme per tonne ('g/t') Au lower cut-off grade) (see Figure 1 and Table 1 below), including:

MBDD008:

o 86.50m at 1.36g/t Au from 22.00m, including 39.40m at 2.00g/t Au, 6.00m at 2.24g/t Au and 3.00m at 2.32g/t Au

o 8.50m at 2.25g/t Au from 8.20m, including 1.00m at 17.00g/t Au

o  6.00m at 0.56g/t Au from 114.50m, including 2.00m at 1.10g/t Au

o  1.10m at 1.34g/t Au from 140.30m

o  1.00m at 3.62g/t Au from 230.50m

MBDD007:

o  24.20m at 0.45g/t Au from 194.30m, including 3.00m at 1.27g/t Au

o  9.40m at 0.56g/t Au from 80.50m, including 3.20m at 1.09g/t Au

o  4.15m at 0.57g/t Au from 106.40m, including 1.00m at 1.32g/t Au

· The results are hugely significant for the Project and continue to demonstrate wide zones of bulk-tonnage and near-surface gold mineralisation, which could be mineable by open pit. 

· The fully funded maiden ('Phase 1') drilling programme at the MB01-S target is approximately 60% complete for a total of 3,912.20m drilled in 12 holes (MBDD001-012) and a thirteenth hole (MBDD013) is in progress.

· Results for holes MBDD009-011 are expected later this quarter, with samples from hole MBDD009 already on their way to Bureau Veritas in Côte d'Ivoire for fire assay analysis.

· The drill programme is currently scheduled for completion in Q3-2025, and the Company anticipates publishing a maiden, pit-constrained Mineral Resource Estimate ('MRE') in Q4-2025.

· Ahead of this, the Company plans for an independent consultant to produce a JORC Exploration Target estimation in Q3 to provide earlier guidance on the upside potential at the project.

Chief Executive Officer of Oriole Resources, Martin Rosser, said: "We are ecstatic with the latest drill hole results from MB01-S. Not only have we encountered very significant widths of mineralisation, but the grades in hole MBDD008 are the best to date and hugely impressive, and from near surface to boot. 

"These results emphatically support our contention that MB01-S, with its wide zones of bulk-tonnage and near-surface gold mineralisation reported to date, could be favourable for a potential open pit mining operation. This all bodes very well for the rest of the maiden drilling programme, our independent consultant's JORC Exploration Target and later MRE reports, and deliberations regarding the next phase of drilling at MB01-S and the start of the maiden drilling programme at MB01-N."

Figure 1. Interpretative cross section for fence line N872482 at MB01-S, with selected mineralised intervals from holes MBDD001-002 (blue labels; previously announced on 24 March 2025) and MBDD007 and MBDD008 (green labels; reported today). The fence line is located approximately 40m to the south of trench MBT008, the results for which are shown in red along the surface trace

Further Details

Mbe, with a licence area of 312 square kilometres ('km2'), 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 3 kilometre ('km') long, NE trending prospect, named MB01 (or the 'Prospect'), 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-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 for a planned 6,590m in 24 holes. BCM International ('BCM') 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.

To date, a total of 3,912.20m has been drilled, with 12 holes completed (MBDD001-012) and a thirteenth hole (MBDD013) in progress.  The Company today reports results for the seventh and eighth holes MBDD007 and MBDD008, located on fence line N872482, with both holes drilled towards the west (270˚). Results have delivered more than 30 intersections with gold mineralisation (Table 1, Figure 2), such as 86.50m at 1.36g/t Au, including 39.40m at 2.00g/t Au, 6.00m at 2.24g/t Au and 3.00m at 2.32g/t Au, and 8.50m at 2.25g/t Au, including 1.00m at 17.00g/t Au (MBDD008) and 24.20m at 0.45g/t Au, including 3.00m at 1.27g/t Au (MBDD007).  A review of the QAQC samples has confirmed that the assay data falls within acceptable limits of error. 

This is in addition to the 94 gold-bearing intersections returned from the first six holes, MBDD001-06, which returned significant intersections, including: 29.75m at 0.88g/t Au, including 17.30m at 1.35g/t Au, and 26.30m at 0.65g/t Au, including 10.90m at 1.08g/t Au from MBDD002; 8.00m at 1.00g/t Au and 4.24m at 8.12g/t, Au including 1.72m at 19.08g/t Au from MBDD003; 23.10m at 0.71g/t Au, including 7.20m at 1.02g/t Au and 2.00m at 2.48g/t Au, and 5.60m at 1.03g/t Au from 7.50m from MBDD005; and 13.80m at 0.61g/t Au, including 3.40m at 1.17g/t Au and 2.10m at 1.06g/t Au from MBDD006 (Announcements dated 24 March 2025 and 15 April 2025; Figure 2). 

Figure 2. Plan for Phase 1 drilling at MB01-S with a selection of best results to date.

Table 1. Calculated intersections from Phase 1 holes MBDD007 and MBDD008, using a 0.20g/t Au lower cut-off grade. Results greater than 1.00g/t Au are in bold.

* Intervals greater than 1.00m length, calculated using a 0.20g/t Au lower cut-off grade and no more than 35% internal dilution. True widths are not currently known.

The results reported today have delivered the best intersection to date at the Project, with significant near-surface mineralisation related to strongly silicified and brecciated quartz feldspar porphyry (QFP) units (Figure 3). The mineralisation on this drilling fence line (N872482) has now been confirmed over a corridor width of over 350m and to a depth of at least 250m and the results continue to demonstrate wide zones of bulk-tonnage gold mineralisation, which could be open pit mineable.

Figure 3. A portion of the highest grading intersection (86.50m at 1.36g/t Au from 22.00m, including 39.40m at 2.00g/t Au) from MBDD008, associated with smoky quartz veinlets and hydrothermal breccias.

Results for holes MBDD009-011 are expected later this quarter, with samples from hole MBDD009 already on their way to Bureau Veritas in Côte d'Ivoire for fire assay analysis. Holes MBDD010 and MBDD011 are located on a new fence line, N872582, which is located between fence line N872482 (100m to the south), and N872682 (100m to the north) and will enable better assessment of the gold distribution along strike.

Initial bottle roll tests on surface samples at the Project indicated good gold recoveries from those samples from standard cyanide leaching. However, more advanced and detailed studies are underway on material from hole MBDD002 to assess the mineralogy and geo-metallurgy in more detail. The results of this test work will be reported in due course.

This drilling programme is currently scheduled for completion in Q3-2025, and the Company anticipates publishing a maiden, pit-constrained MRE in Q4-2025, which will be estimated in accordance with the Australasian Joint Ore Reserve Committee ('JORC') 2012 code.  Ahead of this, the Company plans for its independent consultant to undertake a JORC Exploration Target estimation and report it in Q3.

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 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.

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.

** ENDS **

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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 375,000oz contained gold at 2.30g/t in the JORC Inferred category 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 recently completed a six-year earn-in to acquire an approximate 59% beneficial interest in the Senala Exploration Licence by spending US$5.8 million. A review of expenditure and 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