REG - Oriole Resources PLC - BCM Completion of Bibemi Earn-in

Oriole ResourcesAnnouncement

27/11/2025 07:00

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RNS Number : 1589J  Oriole Resources PLC  27 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')

 

BCM Completion of Bibemi Earn-in

 

Oriole Resources PLC (AIM: ORR), the AIM quoted gold exploration company
focused on West and Central Africa, is pleased to announce that it has
received the first US$300,000 tranche of funding from BCM International
('BCM') in relation to a completion agreement (the 'Completion Agreement'), as
announced by the Company on 5 November 2025.

 

Consequently, and in accordance with the Completion Agreement, the Company can
confirm that BCM has now earned a 50% beneficial interest in the Bibemi gold
project and licence. The administrative work to formalise that interest,
including the drafting of a joint venture agreement, is now underway.

 

Chief Executive Officer of Oriole Resources, Martin Rosser, said: "We would
like to thank BCM for its unstinting management support and essential funding
during the earn-in period, which has resulted in it reaching its 50%
beneficial interest.  We look forward to continuing this strong working
relationship as we advance the project under a joint venture agreement,
especially the forthcoming exploitation licence negotiations with the Cameroon
Government."

 

Further Details

 

In January 2024, the Company signed two Earn-In Agreements with BCM in
relation to the Mbe and Bibemi projects (see Oriole's announcements dated 5
January and 19 January 2024), whereby BCM could earn a 50% interest in both
projects by meeting certain commitments, including US$4 million in exploration
expenditure at each project within two years, and potential resource-linked,
success-based payments.

 

Earlier this month, with the Earn-In Agreements both nearing the end of their
terms, the Company signed a Completion Agreement with BCM to formalise the
outstanding exploration programmes and expenditure commitments under those
Earn-In Agreements.

 

Under the terms of the Completion Agreement, BCM will pay the Company
US$900,000 in cash in three equal monthly instalments, starting in November
2025.  The first of those payments has now been received.  BCM will also
contribute US$300,000 to drilling costs at the MB01-N Drilling Programme that
is now underway (see announcement dated 24 November 2025).

 

Once all financial commitments are received and upon completion of the MB01-N
Drilling Programme, targeted for late Q1-2026, BCM will reach a 50% interest
in the Mbe licence.

 

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 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 15 to 20Mt
at a grade of 0.77 to 0.94g/t Au for 370,000oz to 605,000oz contained gold for
the MB01-N zone.

 

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.

 

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 17 to 24Mt at a grade of 0.69 to 0.84g/t Au for
380,000 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

 

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