REG - Oriole Resources PLC - Approval of ESIA Study for Bibemi Gold Project

Oriole ResourcesAnnouncement

20/11/2025 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20251120:nRST2380Ia&default-theme=true

RNS Number : 2380I  Oriole Resources PLC  20 November 2025

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')

 

Approval of Environmental and Social Impact Assessment Study for Bibemi Gold
Project

 

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%
owned Bibemi orogenic gold project ('Bibemi' or the 'Project') in Cameroon.

 

Highlights

 

·    The Company has received approval for its Environmental and Social
Impact Assessment ('ESIA') study for the Bibemi project from Cameroon's
Ministry of Environment, Nature Protection and Sustainable Development
('MINEPDED').

 

·    Approval of the ESIA is an essential step towards progressing the
Company's Exploitation Licence Application ('ELA') at Bibemi.  Negotiations
are ongoing, with a targeted completion date for approval of the ELA by the
end of Q2-2026.

 

Chief Executive Officer of Oriole Resources, Martin Rosser, said: "The
approval of the ESIA for Bibemi is a major achievement as it is a prerequisite
for government approval for the exploitation licence.  We look forward to the
intensification of the ELA process and negotiations in the next few months.
In addition, we will soon be providing an update on the preliminary economic
assessment and supporting technical studies."

 

Further Details

 

Background

 

The ESIA process at Bibemi commenced in 2023, with the report submitted to
MINEPDED in March 2025 and formal public hearings and stakeholder engagement
successfully completed in June 2025 (see announcement dated 25 June 2025).

 

In September 2025, the Company reported that it had received a certificate of
compliance from the MINEPDED in relation to its ESIA study for the Bibemi
project.  The certificate came with some minor recommendations to improve the
ESIA study.  These improvements were incorporated and an updated version of
the ESIA report was submitted to MINEPDED in October 2025.  The entire ESIA
process was managed by Jurilex International, a Ministry-approved independent
Cameroonian consultancy.

 

 

Following a 20-day post-submission review period, there have been no further
amendments and the ESIA is therefore approved under the Cameroon Mining Code.

 

As previously reported, the Company plans to submit an updated technical
report to the Ministry of Mines later this month with a view to expediting the
Exploitation Licence Application ('ELA') process by the end of the year (see
announcement dated 5 November 2025).  The updated technical report will
incorporate the updated JORC resource, mineral processing studies and mine
planning work the Company has completed since the initial submission, as well
as a preliminary economic assessment ('PEA') model, and is designed to
accelerate the Exploitation Licence application process towards a positive
outcome (see announcement dated 5 November 2025).  Further details on the PEA
will be announced later this quarter.

 

Approval of the ESIA is an important step and will help with the ELA
negotiation process.  Work to secure the Exploitation Licence is ongoing with
a targeted completion date of Q2-2026

 

Enquiries:

 Oriole Resources Plc                                  Tel: +44 (0)23 8065 1649
 Martin Rosser / Bob Smeeton / Claire Bay

 Strand Hanson Limited (Nomad & Broker)                Tel: +44 (0)20 7409 3494
 Christopher Raggett / James Spinney / Edward Foulkes

 IFC Advisory Ltd (Financial IR & PR)                  Tel: +44 (0)20 3934 6630
 Tim Metcalfe / Graham Herring / Florence Staton       oriole@investor-focus.co.uk

 

Glossary and Abbreviations

 Au                Gold
 Bibemi            Bibemi orogenic gold project
 Company           Oriole Resources PLC
 Forge             Forge International Limited
 g/t               Grammes per tonne
 JORC              Joint Ore Reserves Committee
 JORC Code         2012 Edition of the Australasian Code for Reporting of Exploration Results,
                   Mineral Resources and Ore Reserves
 km                Kilometre
 km(2)             Square kilometre
 Mbe               Mbe orogenic gold project
 m                 Metres
 MRE               Mineral Resource Estimate
 Mt                Million tonnes
 Oriole Resources  Oriole Resources PLC
 oz                Troy ounce of gold
 t/m(3)            Tonnes per cubic metre

 

 

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.

 

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 zone, 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 zone.  A fully funded maiden drilling programme is
planned at MB01-N with the aim of converting the existing Exploration Target
to Resource.

 

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 90% owned
Bibemi project, where it has applied for an exploitation licence.  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.  BCM International will see it's 50%
interest achieved once the terms of the recently signed 'Completion Agreement'
(see announcement dated 5 November 2025) are met.

 

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.  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
(http://www.orioleresources.com/) ,  @OrioleResources on X

 

Background on Bibemi

 

At the 177km(2) Bibemi orogenic gold project in the North region
of Cameroon, the Company's exploration to date has identified shear-hosted
gold mineralisation at four main prospects - Bakassi Zone 1, Bakassi Zone
2, Lawa West and Lawa East - within an approximately 12km long mineralised
hydrothermal system at surface.

 

Between 2021 and 2022, the Company completed four phases of diamond drilling
at the Project for a total of 6,685.40m in 54 holes, with the majority of that
drilling focused on an approximately 1km long section at the BZ1-MRE zone.
Following a maiden MRE published in 2022, and an updated MRE published in 2024
(using Phase 1-4 data), the Company completed a Phase 5 diamond drilling
programme in February 2025.  This programme targeted the Bakassi Zone 1 to
further test the BZ1-MRE zone, and two along-strike targets, BZ1-NE and
BZ1-SW, for 6,915.40m in 56 holes.

 

These additional Phase 5 results enabled independent consultant Forge
International to deliver an updated MRE for the BZ1-MRE zone of 460,000oz
contained gold at over 2g/t Au, based on a 0.40g/t Au lower cut-off grade and
within a US$2,750/oz gold price open pit shell.  In addition to this being
an approximate 23% increase on the 2024 MRE, the confidence level of the MRE
was improved, with 100,000oz Au falling into the JORC Indicated category and
the remaining in the Inferred category.  The Indicated Resources occur as a
unified block in the centre of the deposit and could provide a suitable
location for a starter pit if mined.  An additional JORC Exploration Target
range of 3 to 5 million tonnes at 1.50 to 2.50g/t Au for 145,000oz to
400,000oz contained Au has been estimated for the Bakassi Zone 1, Bakassi
Zone 2, Lawa East and Lawa West prospects, highlighting the significant
upside potential of the wider licence area.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDMZMMMVLRGKZM



            Copyright 2019 Regulatory News Service, all rights reserved