REG - Oriole Resources PLC - Drilling results from MB01-N

Oriole ResourcesAnnouncement

12/02/2026 07:01

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RNS Number : 6598S  Oriole Resources PLC  12 February 2026

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")

 

Drilling results from MB01-N extend the width and length of the system

 

Oriole Resources PLC (AIM: ORR), the AIM quoted gold exploration company
focused on Central and West Africa, is pleased to provide an update on its
90%(( 1  (#_ftn1) )) owned Mbe gold project in Cameroon ("Mbe" or the
"Project"), where it has received further results from the ongoing 2,950m
maiden diamond drilling programme at the MB01-N target (the "Programme").

Highlights

 

o  Results from holes MBDD031 to MBDD033 have returned further gold
intersections, including:

 

MBDD031

o  7.00m at 1.02g/t Au from 49.50m, including 1.00m at 3.99g/t Au

o  1.00m at 4.42g/t Au from 17.50m

o  1.00m at 2.63g/t Au from 37.40m

o  2.00m at 1.51g/t Au from 113.70m, including 1.00m at 2.67g/t Au

 

MBDD033

o  1.10m at 4.39g/t Au from 177.20m

o  1.00m at 2.03g/t Au from 154.90m

o  1.10m at 1.47g/t Au from 108.50m

o  4.20m at 0.49g/t Au from 14.90m

o  2.00m at 0.79g/t Au from 47.00m

 

MBDD032

o  4.00m at 0.35g/t Au from 212.50m

 

o  All three holes returned gold bearing intersections and have extended the
limits of the system, which is now confirmed over at least 300m width, 550m in
length, and to 185m vertical depth. It remains open in all directions.
Additional sampling in hole MBDD028 returned two low grade intervals, as
outlined in Table 1.

o  The fully funded MB01-N drilling programme is now around 90% complete,
with approximately 2,650m drilled in thirteen holes and two holes left in the
programme.

 

o  The programme is expected to complete by early Q2-2026, after which the
Company's consultant will prepare a maiden JORC Resource for the MB01-N target
to add to the existing 870,000oz JORC Resource at the nearby MB01-S deposit,
where a fully funded step-out drilling programme will commence in Q2-2026.

 

Chief Executive Officer of Oriole Resources, Martin Rosser, said: "The latest
set of drilling results has significantly extended the mineralised system
dimensions, yet it remains open in all directions.  We look forward to the
conclusion of the programme and reporting the remaining drill hole results and
the revised MRE."

Figure 1. Diamond drilling progress at the MB01-N target with selected best
results to date.  Results published today are in blue boxes (MBDD031 to
MBDD033), and previously reported results are in white boxes (MBDD025 to
MBDD030).  All holes are planned to be drilled at an inclination of -50˚.

 

Further Details

 

The Programme, which commenced in November 2025, has been planned to test the
MB01-N target, which is located 700m to the northeast of the MB01-S deposit,
where the Company has previously reported a maiden JORC Inferred Mineral
Resource Estimate of 24.8Mt at a grade of 1.09g/t Au for 870,000oz contained
gold (see announcement dated 21 October 2025).  MB01-N has a JORC Exploration
Target of 15Mt to 20Mt at 0.77 to 0.94g/t Au for 370,000oz to 605,000oz
contained gold, and offers significant upside to the total JORC Resource
potential of the Mbe project.  The Programme has been designed to maximise
conversion from an Exploration Target to a JORC Resource.

 

The Programme is progressing well and is over 90% complete, with thirteen
holes (MBDD025-037) drilled and two holes left in the programme.  The Company
today reports the results from MBDD031 to MBDD033, which include a total of 23
mineralised intersections (Table 1; using a 0.20g/t Au cut-off grade).

 

An intersection grading 1.02g/t Au over 7.00m, including 1.00m at 3.99g/t Au
was returned from hole MBDD031, further showing higher grading individual
intervals within wider envelopes of lower grading material.  This
relationship has been observed at a larger scale elsewhere both in MB01-N,
within the main core of the prospect (i.e. MBDD025 - MBDD028), and at MB01-S.

 

The results reported today have extended the strike length and width of the
system at MB01-N by 100m and approximately 150m respectively.  The system at
MB01-N is now confirmed over a width of 300m, a length of 550m, and to 185m
vertical depth from surface; it remains open in all directions.

 

A review of the QAQC samples has confirmed that the data falls within
acceptable limits of error.  Results from additional samples collected from
MBDD028 (see announcement date 26 January 2026), returned a further two gold
bearing intersections, which are presented in Table 1 along with the results
from MBDD031 to MBDD033.

 

Table 1. Selected intersections from holes MBDD031 to MBDD033, and from
additional sampling completed in MBDD028, using a 0.20g/t Au lower cut-off
grade.  Results > 1.00g/t Au are highlighted in bold.

 

 Hole ID    From (m)  To (m)  Grade (g/t Au)  Intersection
 MBDD028    125.30    126.30  0.35            1.00m at 0.35g/t Au
 and        167.10    168.20  0.25            1.10m at 0.25g/t Au
 MBDD031    17.50     18.50   4.42            1.00m at 4.42g/t Au
 and        32.70     33.90   0.47            1.20m at 0.47g/t Au
 and        37.40     38.40   2.63            1.00m at 2.63g/t Au
 and        43.50     45.50   0.39            2.00m at 0.39g/t Au
 and        49.50     56.50   1.02            7.00m at 1.02g/t Au
 including  55.50     56.50   3.99            1.00m at 3.99g/t Au
 and        60.50     61.50   0.41            1.00m at 0.41g/t Au
 and        99.30     100.30  0.23            1.00m at 0.23g/t Au
 and        113.70    115.70  1.51            2.00m at 1.51g/t Au
 including  113.70    114.70  2.67            1.00m at 2.67g/t Au
 MBDD032    135.10    136.30  0.45            1.20m at 0.45g/t Au
 and        159.00    160.10  0.28            1.10m at 0.28g/t Au
 and        212.50    216.50  0.35            4.00m at 0.35g/t Au
 and        241.40    242.50  0.21            1.10m at 0.21g/t Au
 MBDD033    14.90     19.10   0.49            4.20m at 0.49g/t Au
 and        32.60     36.60   0.33            4.00m at 0.33g/t Au
 and        47.00     49.00   0.79            2.00m at 0.79g/t Au
 and        54.00     55.10   0.30            1.10m at 0.30g/t Au
 and        104.10    105.20  0.35            1.10m at 0.35g/t Au
 and        108.50    109.60  1.47            1.10m at 1.47g/t Au
 and        111.70    113.90  0.50            2.20m at 0.50g/t Au
 and        154.90    155.90  2.03            1.00m at 2.03g/t Au
 and        177.20    178.30  4.39            1.10m at 4.39g/t Au

 

 

The geological setting at MB01-N is broadly similar to MB01-S, with the
dominant lithologies consisting of the orthogneiss-amphibolite basement rock,
which in turn has been intruded by numerous shear-hosted granitic felsic dykes
and late mafic dykes.  The mineralisation is structurally controlled,
predominantly hosted by veins and breccias within shear-hosted felsic
intrusions.  The mineralisation typically occurs within steeply dipping shear
corridors, with mineralisation enhanced by brittle failure (brecciation) of
the felsic intrusions.

 

However, MB01-N appears to be structurally more complex than MB01-S and
assessment of this is ongoing.  The previously reported scissor hole MBDD034,
drilled towards 090 degrees to assess core parallel (down-dip) structures
identified in holes MBDD026 and MBDD032 (orientated towards 270 degrees; see
announcement dated 26 January 2026) has also intersected localised
core-parallel mineralised structures.  Whilst the 270 degree orientation is
still deemed the optimal orientation to intersect the NNW-SSE trending breccia
zones, it will not be possible to fully resolve these downdip structures,
which trend ENE-WSW and ESE-WNW, by drilling the holes in an E-W direction.
Accordingly, the programme has been modified to relocate one of the holes
planned to test the system north of MBDD037, to instead drill a single 180
degree (south) orientated hole that aims to intersect previously reported
mineralisation in hole MBDD026 (Figure 1).  This will help provide further
context on this second high-grade population at MB01-N and thus the geological
model, prior to the generation of the Resource estimation in Q2-2026.

 

Figure 2. Simplified cross section of fence line N874285 with results from
MBDD031 and interpreted mineralised zones.

 

Figure 3. Simplified cross section of fence line N874091 with new results from
MBDD032, previously reported results from MBDD026, the drill trace of scissor
hole MBDD034 (results pending) and interpreted mineralised zones.

 

Figure 4. Simplified cross section of fence line N873870 with results from
MBDD033, the drill trace for MBDD035 (results awaited) and interpreted
mineralised zones.

 

Upon completion of the Programme, by early Q2-2026, the Company's partner BCM
International Limited will acquire a 50% interest in Mbe.

Competent Persons Statement

 

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:

 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 6632
 Tim Metcalfe / Graham Herring / Florence Staton       oriole@investor-focus.co.uk (mailto:oriole@investor-focus.co.uk)

 

Glossary and Abbreviations

 Au                Gold
 BCM               BCM International Limited
 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
 QAQC              Quality Assurance Quality Control
 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 Central and West Africa.  It is currently focused on 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 deposit, 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 target.  A fully funded maiden drilling programme commenced in
November 2025 at MB01-N with the aim of converting the existing Exploration
Target to a Resource.  BCM is nearing completion of US$4 million in
exploration expenditure at Mbe, which will see it earn a 50% interest.

 

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 a further 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 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 312km(2), is an orogenic gold project located
within the broader 2,266km(2) '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 prospect, 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 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
commenced at the MB01-S target in late November 2024 and 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.  Mineralisation
at MB01-S remains open in all directions and at depth.

 

At the MB01-N target, approximately 700m to the northeast of MB01-S, an
Exploration Target range of 15Mt to 20Mt at 0.77g/t to 0.94g/t Au for
370,000oz to 605,000oz contained Au was published in July 2025, based on
trenching data and the interpretation of geophysical and geochemical anomaly
maps.  The Exploration Target remains open in all directions and at depth,
and it is anticipated that drilling of the target will result in a conversion
to Resource ounces.  A planned 2,950m drilling programme commenced in
November 2025 and is scheduled for completion in Q2 2026.

 

BCM has acquired an initial 10% interest in Mbe and upon completion of the
2,950m drilling programme at MB01-N will acquire a further 40% interest in the
project.

 

For further information please visit www.orioleresources.com
(http://www.orioleresources.com) ,  @OrioleResources on X

(( 1  (#_ftnref1) ))  Oriole is currently undertaking a restructuring process
that, once completed, will see it increase its holding from 80% to a 90%
interest in the Project (announcement dated 17 October 2024).  Upon
completion of the earn-in by BCM International Limited, Oriole will then
revert to a 50% interest in the Project.

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