REG - Oriole Resources PLC - Step-out Drilling Completed at Mbe South

Oriole ResourcesAnnouncement

Today 07:00

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RNS Number : 3644H  Oriole Resources PLC  08 June 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")

 

Step-out Drilling Completed at Mbe South Gold Deposit

 

Latest Intersections Include 27.20m at 1.69g/t Au

 

Oriole Resources PLC (AIM: ORR), the AIM quoted gold exploration and
development company focused on Central and West Africa, is pleased to announce
further results from the Step-out diamond drilling programme (the "Programme"
or "Phase 3") at the MB01-S deposit at its 50% owned Mbe orogenic gold project
("Mbe" or the "Project") in Cameroon.  The total JORC Inferred Mineral
Resource Estimate ("MRE") at Mbe currently stands at 1.23 million oz contained
gold ("Au") across both the MB01-S and MB01-N deposits.  The Programme has
now been completed for 2,476.80m in 10 holes and results for the remaining
five holes are expected later this month.  Thereafter, it is anticipated that
an updated JORC MRE will be reported for MB01-S in early Q3-2026.

 

Highlights

 

·    Results for holes MBDD043 and MBDD044 have returned 23 mineralised
gold intersections, including:

 

o  MBDD044

▪    27.20m at 1.69g/t Au from 96.00m depth, including 6.00m at 5.81g/t
Au, 1.00m at 2.19g/t Au and 1.00m at 2.09g/t Au

 

o  MBDD043

▪    27.60m at 0.58g/t Au from 53.30m depth, including 1.10m at 4.08g/t
Au and 2.80m at 1.20g/t Au

 

·    Hole MBDD044 appears to represent the along strike extension of the
29.80m at 0.79g/t Au intersection in MBDD024, located 180m to the SSE.

 

·    The Programme has been completed for 2,476.80m in 10 holes, with
results for the remaining five holes expected later this month.

 

·    An updated MRE for MB01-S is anticipated in early Q3-2026.

 

 

Chief Executive Officer of Oriole Resources, Martin Rosser, said: "The latest
two drill hole results for the step-out drilling programme at the MB01-S
deposit are over significant widths, and hole MBDD044 has a pleasing best
intersection of 27.20m at 1.69g/t Au.

 

"The completion of the 10-hole drilling programme has been achieved in good
time, and we thank the BCM drilling crew and Oriole's field team for all their
hard work.  We very much look forward to the results from the remaining holes
later this month and the revised independent consultant's updated MRE for
MB01-S thereafter in early Q3-2026."

 

 

Figure 1. Plan view of MB01-S showing the Step-out programme drill hole collar
locations, selected best results from MBDD043 and MBDD044, previously reported
best intersections from MBDD040 to MBDD042, drill collars from Phase 1
drilling and gold mineralised wireframes for the current 870koz Au MRE within
a US$3,200/oz pit shell.

 

Further Details

 

The Step-out diamond drilling programme at the MB01-S deposit, which commenced
in March 2026 (see announcement dated 31 March 2026), has now been completed
for 2,476.80m in 10 holes.  It was designed to expand the existing 870,000oz
contained gold JORC MRE at MB01-S, by testing the potential extension of the
mineralised system.  All holes were drilled towards the west (at an azimuth
of 270˚ ) and at an inclination of -50˚ , therefore in the same orientation
as the majority of holes in the Phase 1 drilling programme (see announcement
dated 2 September 2025).

 

The Company today reports results for holes MBDD043 and MBDD044, which
targeted the western extension of MB01-S.  Both holes were completed to the
west of Phase 1 drilling on fence line N872582 but are offset approximately
25m to the north (i.e. on a Northing of N873607) due to access constraints.

 

Table 1. Calculated intersections from Phase 3 holes MBDD043 and MBDD044,
using a 0.20g/t Au lower cut-off grade.  Results greater than 1.00g/t Au are
in bold and 'including' intervals are in bold italics.

 

 Hole ID    From (m)  To (m)  Au grade (g/t Au  Intersection*
 MBDD043    12.10     14.30   0.99              2.20m at 0.99g/t Au
 including  12.10     13.20   1.76              1.10m at 1.76g/t Au
 and        26.30     27.30   1.11              1.00m at 1.11g/t Au
 and        36.50     37.50   0.39              1.00m at 0.39g/t Au
 and        53.30     80.90   0.58              27.60m at 0.58g/t Au
 including  54.30     55.40   4.08              1.10m at 4.08g/t Au
 including  78.10     80.90   1.20              2.80m at 1.20g/t Au
 and        89.50     90.50   0.27              1.00m at 0.27g/t Au
 and        94.50     95.50   0.42              1.00m at 0.42g/t Au
 and        113.60    114.70  0.98              1.10m at 0.98g/t Au
 and        117.70    118.80  0.21              1.10m at 0.21g/t Au
 and        129.70    130.80  0.51              1.10m at 0.51g/t Au
 and        169.50    170.50  0.27              1.00m at 0.27g/t Au
 and        197.40    200.40  0.32              3.00m at 0.32g/t Au
 and        203.40    204.40  0.44              1.00m at 0.44g/t Au
 and        215.70    216.80  0.41              1.10m at 0.41g/t Au
 and        224.90    226.20  0.40              1.30m at 0.40g/t Au
 and        229.50    230.50  0.26              1.00m at 0.26g/t Au
 and        235.90    237.90  0.99              2.00m at 0.99g/t Au
 including  235.90    236.90  1.64              1.00m at 1.64g/t Au
 and        240.05    241.05  1.23              1.00m at 1.23g/t Au
 MBDD044    20.40     22.60   0.36              2.20m at 0.36g/t Au
 and        42.50     43.50   0.57              1.00m at 0.57g/t Au
 and        47.90     49.90   1.06              2.00m at 1.06g/t Au
 and        54.90     56.90   0.88              2.00m at 0.88g/t Au
 including  54.90     55.90   1.45              1.00m at 1.45g/t Au
 and        96.00     123.20  1.69              27.20m at 1.69g/t Au
 including  98.00     104.00  5.81              6.00m at 5.81g/t Au
 including  108.00    109.00  2.09              1.00m at 2.09g/t Au
 including  113.20    114.20  2.19              1.00m at 2.19g/t Au
 and        143.70    144.70  0.22              1.00m at 0.22g/t Au
 *Intervals greater than 1.00m, calculated using a 0.20g/t Au lower cut-off
 grade and no more than 5.00m consecutive dilution or 35% total internal
 dilution.  True widths are not currently known.

 

These holes have identified two distinct and substantial zones of
mineralisation punctuated by higher grading intervals, which is consistent
with other notable zones at Mbe.

 

The 27.20m at 1.69g/t Au intersection from MBDD044, which includes 1.00m at
25.00g/t Au (within the reported 6.00m at 5.81g/t Au 'including' interval), is
associated with a zone of brecciated and altered orthogneiss.  The
orthogneiss in this sequence is highly deformed, evidenced by visible
parasitic folding, and the brittle fractures within the breccia zone have been
infilled to form NNW-SSE trending sulphide-telluride veinlets that dip steeply
to the southwest.  The geometry of these veinlets is comparable with the
overall mineralised trends identified throughout MB01-S.

 

 

Figure 2. Core box photograph showing the higher-grade portion of the 27.20m
at 1.69g/t Au intersection in MBDD044, including 1.00m at 25.00g/t Au.

 

Figure 3. Simplified cross section of fence line N872582 with newly reported
results from holes MBDD043 and MBDD044 (noting the ~25m offset to the north
compared to the other holes presented).  Previously reported best results
from holes MBDD010 to MBDD013 and trench line MBT015 are also presented.
MBT015 is located approximately 15m to the north of holes MBDD010 to MBDD013,
and 10m to the south of holes MBDD043 and MBDD044.

 

The geometry of the veining implies that the mineralisation in MBDD044 is the
along-strike continuation of the 27.80m at 0.79g/t Au intersection previously
reported in hole MBDD024 (see announcement dated 22 September 2025), located
180m to the SSE.  This, together with other structural data acquired during
the Programme, supports a slight rotation of the mineralised wireframes at
MB01-S from the current N-S trend to a NNW-SSE orientation, which will be
factored into the next MRE update.

 

Results for the remaining five holes in the Programme are anticipated later
this month.  Thereafter, Oriole will engage its independent consultant to
prepare an updated JORC MRE for the deposit, which currently stands at 870koz
contained Au and remains open in all directions, with the publication of the
updated MRE expected in early Q3-2026.  Any increase to this MRE will also
increase the 1.23Moz total resource base at Mbe.

 

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/
(https://orioleresources.com/projects/mbe/)

Competent Persons Statement

 

The information in this announcement that relates to the MREs are based on
data compiled by Robert Davies, EurGeol, CGeol, an independent consultant to
Oriole.  Mr Davies is a Director of Forge International Limited.  Mr Davies
has sufficient experience that is relevant to the style of mineralisation and
type of deposit under consideration and to the activity being undertaken to
qualify as a Competent Person as defined in the JORC Code.  Mr Davies
consents to the inclusion in the report of the matters based on his
information in the form and context in which it appears.  The Company
confirms that it is not aware of any new information or data that materially
affects the MREs, and that all material assumptions and technical parameters
underpinning the MREs continue to apply.

 

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
 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
 koz               Thousand troy ounces
 km                Kilometre
 km(2)             Square kilometre
 Mbe               Mbe orogenic gold project
 MB01-N            The north deposit at the MB01 prospect within the Mbe project
 MB01-S            The south deposit at the MB01 prospect within the Mbe project
 m                 Metres
 Moz               Million troy ounces
 MRE               Mineral Resource Estimate
 Mt                Million tonnes
 NNW-SSE           North northwest - south southeast
 N-S               North-South
 SSE               South-southeast
 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 and development exploration
company, with projects in Central and West Africa.  It is currently focused
on projects 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 global JORC Inferred MRE of 1.23Moz
contained gold at MB01, consisting of 870koz at 1.09g/t Au for the MB01-S
deposit, and 360koz at 1.05g/t Au for the MB01-N deposit.  A fully funded
step out drilling programme has recently been completed at MB01-S with the aim
of further increasing the total resource at Mbe, where an update MRE is
expected in Q3-2026.  Following the completion of the MB01-N drilling
programme, and by meeting various financial commitments, BCM has earned a 50%
interest in the Mbe project, and Oriole has recently completed a corporate
restructuring to confirm the Company's and BCM's respective 50% interest in
Mbe.  Drafting of a JV partnership agreement is nearing completion.

 

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 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 (using a gold price of
US$1,800/oz)  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 deposit, 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 at the
MB01-S target 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.

 

At the MB01-N target, 700m to the northeast of MB01-S, a 2,982.80m drilling
programme in 15 holes was completed in February 2026.  Best drilling results
included 21.70m at 3.13g/t Au including 7.20m at 8.19g/t Au (from hole
MBDD026), 56.20m at 0.99g/t Au, including 14.60m at 2.03g/t Au and 24.00m at
0.37g/t Au, including 2.00m at 2.21g/t Au (from hole MBDD039), and  16.10m at
2.49g/t Au including 1.00m at 28.60g/t Au, 2.00m at 6.57g/t Au and 14.80m at
0.73g/t Au (from hole MBDD027).  The maiden MRE was published in April 2026
and stands at 360,000oz at 1.05g/t, using a US$3,200/oz gold price and a lower
cut-off grade of 0.40g/t Au.  This increased the total resource at Mbe which
currently stands at 1.23Moz contained Au.

 

Mineralisation at both deposits remains open in all directions and at depth.
MB01-S has recently been targeted by a step out drilling programme which, once
all results are received later this month, is expected to lead to an updated
MRE in Q3-2026.

 

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

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