REG - Oriole Resources PLC - Significant Update from MB01-N Drilling

Oriole ResourcesAnnouncement

Today 07:00

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RNS Number : 2493Q  Oriole Resources PLC  26 January 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")

 

Further Significant Intersections Returned from MB01-N Drilling

 

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 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

 

·    Results from holes MBDD027 to MBDD030 have returned further
significant gold intersections, including:

 

MBDD027

o  16.10m at 2.49g/t Au from 152.40m, including 1.00m at 28.60g/t Au from
159.50m

o  2.00m at 6.57g/t Au from 52.00m, including 1.00m at 12.90g/t Au

o  14.80m at 0.73g/t Au from 106.50m including 3.00m at 1.37g/t Au, 1.10m at
2.30g/t Au and 1m at 1.21g/t Au

o  7.35m at 0.59g/t Au from 73.30m, including 3.00m at 1.23g/t Au

 

MBDD028

o  17.10m at 0.60g/t Au from 55.00m, including 2.00m at 1.42g/t Au and 1.00m
at 3.72g/t Au

 

MBDD029

o  2.00m at 1.50g/t Au from 128.10m

 

MBDD030

o  2.00m at 0.91g/t Au from 127.50m

o  3.10m at 0.74g/t Au from 139.90m including 1.00m at 1.09g/t Au

 

·    The mineralisation in MBDD027 is interpreted to be the along strike
continuation of reported mineralisation in hole MBDD026, 100m to the north.
 MBDD027 has also confirmed the system at MB01-N to at least 160m vertical
depth from surface.

 

·    The fully funded MB01-N drilling programme is now approximately 70%
complete, with over 2,000m drilled in ten holes.  MBDD034, is nearing
completion as a scissor hole that is being drilled towards the east to fully
assess structures identified in holes MBDD026 and MBDD032 on the same line.

 

·    The programme is expected to complete later in Q1-2026, after which
the Company's consultant will prepare a maiden JORC Resource for the target to
add to the existing 870,000oz JORC Resource at the nearby MB01-S deposit.

 

Chief Executive Officer of Oriole Resources, Martin Rosser, said: "We are
pleased to report another set of significant results from the drilling at
MB01-N, particularly good is the 16.10m at 2.49g/t Au from 152.40m in hole
MBDD027.  Moreover, MBDD027 has returned the deepest intersection at MB01-N
to date, confirming the system to at least around 160m vertical depth from
surface.  The programme continues to progress at a good rate and is already
over two thirds complete.  We look forward to reporting further results over
the coming weeks until its completion."

 

Figure 1. Diamond drilling progress at the MB01-N target with selected best
results to date.  Results published today are in blue boxes (MBDD027 to
MBDD030), and previously reported results are in white boxes (MBDD025 and
MBDD026).  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).

 

The programme is progressing well and is 70% complete, with nine holes
(MBDD025-033) drilled and a tenth hole (MBDD034) nearing completion.  The
Company today reports the results from MBDD027 to MBDD030.  A total of 25
mineralised intersections were returned (Table 1; using a 0.20g/t Au cut-off),
with narrow higher-grade zones and wider envelopes of pervasive, lower-grade
material, as seen at the MB01-S target and in the first two holes at MB01-N
(MBDD025 and MBDD026).

 

This is evidenced in hole MBDD027, which returned 1.00m at 28.60g/t Au within
a broader zone of 16.10m at 2.49g/t Au from 152.40m downhole depth, as also
observed in previously reported hole MBDD026.  MBDD027 is located
approximately 100m to the south of MBDD026, which intersected 21.70m at
3.13g/t Au, including 7.20m at 8.19g/t Au (see announcement dated 07 January
2026), and is interpreted to reflect an along strike extension of the
mineralised structure to the NNW.  MBDD027 has returned the deepest
intersection at MB01-N to date, confirming the system to at least 160m
vertical depth from surface.

 

An additional wide zone of mineralisation was reported in hole MBDD028,
located approximately 300m to the north of MBDD026.  This correlates with
intervals previously reported for hole MBDD025, 100m to the south of MBDD028,
including 16.20m at 0.77g/t Au including 10.10m at 1.08g/t Au (see
announcement dated 07 January 2026); again, this is likely to reflect the
continuity of the mineralised structure between these holes.

 

A review of the QAQC samples has confirmed that the data falls within
acceptable limits of error.  Hole MBDD028 was selectively sampled and,
following receipt of these results, an additional zone has now been sampled.
 Any additional results will be reported alongside the next reported holes.

 

Table 1. Selected intersections from MBDD027 to MBDD030 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
 MBDD027          45.00            46.00            0.86             1.00m at 0.86g/t Au
 and              52.00            54.00            6.57             2.00m at 6.57g/t Au
 including        52.00            53.00            12.90            1.00m at 12.90g/t Au
 and              60.00            63.00            0.82             3.00m at 0.82g/t Au
 including        60.00            61.00            1.59             1.00m at 1.59g/t Au
 and              66.30            69.30            0.51             3.00m at 0.51g/t Au
 and              73.30            80.65            0.59             7.35m at 0.59g/t Au
 including        73.30            76.30            1.14             3.00m at 1.23g/t Au
 and              106.50           121.30           0.73             14.80m at 0.73g/t Au
 including        106.50           109.50           1.37             3.00m at 1.37g/t Au
 including        112.70           113.80           2.30             1.10m at 2.30g/t Au
 including        118.20           119.20           1.21             1.00m at 1.21g/t Au
 and              140.70           141.80           0.25             1.10m at 0.25g/t Au
 and              152.40           168.50           2.49             16.10m at 2.49g/t Au
 including        159.50           160.50           28.60            1.00m at 28.60g/t Au
 and              174.70           175.70           0.74             1.00m at 0.74g/t Au
 and              176.80           177.80           1.35             1.00m at 1.35g/t Au
 and              202.00           203.10           0.40             1.10m at 0.40g/t Au
 and              207.40           208.40           0.21             1.00m at 0.21g/t Au
 MBDD028**        55.00            72.10            0.60             17.10m at 0.60g/t Au
 including        58.00            60.00            1.42             2.00m at 1.42g/t Au
 including        69.20            70.20            3.72             1.00m at 3.72g/t Au
 and              76.50            77.60            0.24             1.10m at 0.24g/t Au
 and              93.50            94.65            0.42             1.15m at 0.42g/t Au
 MBDD029          121.10           122.10           0.26             1.00m at 0.26g/t Au
 and              128.10           130.10           1.50             2.00m at 1.50g/t Au
 and              158.75           159.80           0.80             1.05m at 0.80g/t Au
 MBDD030          77.80            78.90            0.38             1.10m at 0.38g/t Au
 and              84.40            85.40            0.31             1.00m at 0.31g/t Au
 and              127.50           129.50           0.91             2.00m at 0.91g/t Au
 and              132.80           134.00           0.29             1.20m at 0.29g/t Au
 and              139.90           143.00           0.74             3.10m at 0.74g/t Au
 including        141.00           142.00           1.09             1.00m at 1.09g/t Au
 and              151.30           154.40           0.47             3.10m at 0.47g/t Au
 and              167.30           168.30           0.21             1.00m at 0.21g/t Au
 * Intersections greater than 1.00m, calculated using a 0.20g/t Au lower
 cut-off grade and no more than 5.00m consecutive internal dilution or 35%
 total internal dilution.  Stated as drilled widths - true widths are not
 currently known.

 **Hole MBDD028 was selectively sampled.

 

The geological and structural controls at MB01-N are 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.  MBDD034 is being
drilled as a scissor hole (towards an azimuth of 090˚ rather than 270˚) to
compliment MBDD026 and MBDD032 and aims to investigate the key structures
controlling mineralisation in the hole and provide further information for the
overall geological model.

 

Figure 2. Simplified cross section of fence line N873992 with results from
MBDD027 and interpreted mineralised zones.

 

Figure 3. Simplified cross section of fence line N874419 with results from
MBDD028 and interpreted mineralised zones.

 

Figure 4. Simplified cross section of fence line N874318 with results from
MBDD025 and MBDD029 and interpreted mineralised zones.

 

Figure 5. Simplified cross section of fence line N874025 with results from
MBDD030 and interpreted mineralised zones.

 

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.

 

Upon completion of the Programme, targeted for late Q1-2026, 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 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

 

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 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 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 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 was commenced in
November 2025 and is scheduled for completion in late Q1 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   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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