Mbe Project Delivers Further Gold Mineralisation

Oriole Resources PLC 

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

Mbe Gold Project Delivers Further Gold Mineralisation in Cameroon -

23.10m at 0.71g/t Au from 76.00m, including 7.20m at 1.02g/t Au and 2.00m at 2.48g/t Au

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.

Highlights

· The maiden ('Phase 1') drilling programme at MB01-S is approximately 44% complete for a total of 2,895.10 metres ('m') drilled, with nine holes drilled (MBDD001-09) and a tenth hole (MBDD010) in progress.

· Results from holes MBDD005 and MBDD006, over 609.10m of drilling, have returned a further 30 gold ('Au') mineralised intersections (using a 0.20 gramme per tonne ('g/t') Au lower cut-off grade), including (see Figure 1 and Table 1):

MBDD005:

o 23.10m at 0.71g/t Au from 76.00m, including 7.20m at 1.02g/t Au and 2.00m at 2.48g/t Au

o 5.60m at 1.03g/t Au from 7.50m

o 1.00m at 1.87g/t Au from 38.30m

MBDD006:

o 13.80m at 0.61g/t Au from 103.10m, including 3.40m at 1.17g/t Au and 2.10m at 1.06g/t Au

o 7.30m at 0.51g/t Au from 8.30m, including 1.90m at 1.18g/t Au

o 1.00m at 1.12g/t Au from 60.90m

o 1.00m at 1.64g/t Au from 71.50m

· The system is confirmed to a depth of approximately 150m from surface on this drill fence line. The results continue to demonstrate wide zones of bulk-tonnage gold mineralisation, which should be open pit mineable, related to sulphide-rich quartz veins, veinlets and breccias that have developed predominantly within quartz-feldspar porphyry ('QFP') units. 

· Samples from holes MBDD007 and MBDD008 are already on their way to Bureau Veritas in Côte d'Ivoire for fire assay analysis. Results for these drill holes are expected to be reported later this quarter.

· The programme is currently scheduled for completion in Q3-2025, and the Company anticipates publishing a maiden, pit-contained Mineral Resource Estimate ('MRE') in H2-2025.

Chief Executive Officer of Oriole Resources, Martin Rosser, said: "The latest Mbe drilling results continue to return significant widths of gold mineralisation. As we continue to build the 3-D picture of the geology and gold mineralisation, it supports our opinion that there could be a substantial volume of material delineated that is potentially amenable to a large-scale open pit mining method. As we approach the halfway mark in the planned programme's metreage, we very much look forward to reporting the next set of results."

Figure 1. Interpretative cross section for fence line N872682 at MB01-S, with a selected mineralised intervals from holes MBDD003 and MBDD004 (green labels; previously reported, announcement dated 24 March 2025) and MBDD005 and MBDD006 (blue labels; reported today). The fence line is located approximately 30m to the north of trench MBT007, the results for which are shown in red along the surface trace (announcement dated 30 September 2024).

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 that occur within, or at the contact with, an intensely altered QFP unit and the orthogneiss host rock, which itself is mineralised and creates wide 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 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 2,895.10m has been drilled, with nine holes completed (MBDD001-09) and a tenth hole (MBDD010) in progress.  The Company today reports results for holes MBDD005 and MBDD006  that have delivered more than 30 gold mineralised intersections (Table 1, Figure 2), such as 23.10m at 0.71g/t Au from 76.00m, including 7.20m at 1.02g/t Au and 2.00m at 2.48g/t Au (MBDD005) and 13.80m at 0.61g/t Au from 103.10m, including 3.40m at 1.17g/t Au and 1.20m at 1.06g/t Au (MBDD006).

This is in addition to the 64 gold-bearing intersections returned from the first four holes, MBDD001-04, which returned 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 (MBDD002) and 8.00m at 1.00g/t Au, and 4.24m at 8.12g/t Au, including 1.72m at 19.08g/t Au (MBDD003) (Announcement dated 24 March 2025). A review of the QAQC samples has confirmed that the data falls within acceptable limits of error. 

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 MBDD005 to MBDD006, 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, calculated using a 0.20g/t Au lower cut-off grade and no more than 35% internal dilution. True widths are not currently known.

Late mafic dykes on this drill fence line appear to have disrupted the mineralisation at approximately 150m below surface. However, their impact seems to be a localised thus far, with limited evidence of such dykes on the southern fence line, N872482.

Samples from holes MBDD007 and MBD008 have been prepared and are on their way to Bureau Veritas in Côte d'Ivoire for fire analysis. Results for both drill holes are expected to be reported later this quarter.

The programme is currently scheduled for completion in Q3-2025, and the Company anticipates publishing a maiden, pit-contained MRE in H2-2025, which will be estimated in accordance with the Australasian Joint Ore Reserve Committee ('JORC') 2012 code.

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 **

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

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Notes to Editors:

Oriole Resources PLC is an AIM-listed 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 Au 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.