Further Mineralisation at MB01-S Gold Deposit

Oriole Resources PLC

01 July 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 Confirms Further Mineralisation at the MB01-S Gold Deposit

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 recently completed 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 results reported today underpin the potential for an increase in the resource at MB01-S when the updated MRE is published later in Q3.

Highlights

·    Results for holes MBDD045 to MBDD047 have returned 34 mineralised gold intersections, including:

o  MBDD045

▪    6.00m at 2.41g/t Au from 84.60m depth, including 1.00m at 13.00g/t Au

▪    4.00m at 2.73g/t Au from 32.40m depth, including 1.00m at 8.42g/t Au

▪    4.00m at 1.68g/t Au from 63.50m depth, including 1.00m at 2.73g/t Au and 1.00m at 2.65g/t Au

▪    4.00m at 0.84g/t Au from 76.60m depth, including 1.00m at 2.80g/t Au

▪    6.00m at 0.64g/t Au from 136.80m depth, including 1.00m at 1.78g/t Au

o  MBDD047

▪    3.00m at 4.16g/t Au from 123.30m depth, including 1.00m at 12.00g/t Au

▪    4.00m at 2.43g/t Au from 52.30m depth, including 1.00m at 6.65g/t Au

▪    1.00m at 5.37g/t Au from 216.50m depth

o  MBDD046

▪    7.30m at 0.48g/t Au from 23.10m depth

·    Hole MBDD045 was drilled into the westernmost soil anomaly at MB01-S and has underpinned the depth extension of mineralisation over that area.    

·    Mineralisation in MBDD047 correlates well with key mineralised intervals previously reported for holes MBDD024 and MBDD044, with that north-west trending zone extending over a 300m strike length.

·    Results for the two final holes, MBDD048 and MBDD049, are awaited.  Once received, an updated MRE for MB01-S will be prepared for publication in early Q3-2026.

Chief Executive Officer of Oriole Resources, Martin Rosser, said: "The latest batch of step-out drilling results for MB01-S have returned yet more encouraging mineralised intersections which provide support for a westward and southward extension of the deposit.  We hope that this should lead to an expansion of the current MRE for MB01-S when it is reported later in Q3.  We eagerly await the results from the remaining two holes in the Programme so that the independent geological consultant can complete the remodelling work."

Figure 1. Plan view of MB01-S showing the step-out programme drill hole collar locations, selected best results from MBDD045 to MBDD047, previously reported best intersections from MBDD040 to MBDD044, 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

Last month, a step-out diamond drilling programme at the MB01-S deposit was completed for 2,476.80m in 10 holes (see announcement dated 08 June 2026).  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˚ degrees, 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 MBDD045 to MBDD047, which targeted the western and southwestern extension of MB01-S.  MBDD045 was completed on existing fence line N872382 (approximately 230m west of the previous drilling, and 90m southwest of Phase 1 hole MBDD024).  MBDD046 and MBDD047 were drilled on a new fence line, N872306, the southernmost fence line to date.

Table 1. Calculated intersections from Phase 3 holes MBDD045 and MBDD047, 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)	Intersection*
MBDD045	26.20	28.20	0.37	2.00m at 0.37g/t Au
and	32.40	36.40	2.73	4.00m at 2.73g/t Au
including	32.40	33.40	8.42	1.00m at 8.42g/t Au
and	57.30	58.30	1.56	1.00m at 1.56g/t Au
and	59.50	60.50	0.40	1.00m at 0.40g/t Au
and	63.50	67.50	1.68	4.00m at 1.68g/t Au
including	64.50	65.50	2.73	1.00m at 2.73g/t Au
including	66.50	67.50	2.65	1.00m at 2.65g/t Au
and	76.60	80.60	0.84	4.00m at 0.84g/t Au
including	76.60	77.60	2.80	1.00m at 2.80g/t Au
and	84.60	90.60	2.41	6.00m at 2.41g/t Au
including	87.60	88.60	13.00	1.00m at 13.00g/t Au
and	100.50	101.50	0.23	1.00m at 0.23g/t Au
and	103.50	114.50	0.36	11.00m at 0.36g/t Au
and	126.50	127.50	0.59	1.00m at 0.59g/t Au
and	136.80	142.80	0.64	6.00m at 0.64g/t Au
including	137.80	138.80	1.78	1.00m at 1.78g/t Au
and	146.00	149.20	0.28	3.20m at 0.28g/t Au
and	152.30	153.30	0.27	1.00m at 0.27g/t Au
and	186.80	187.80	1.33	1.00m at 1.33g/t Au
and	190.80	191.80	0.37	1.00m at 0.37g/t Au
and	193.80	195.80	0.28	2.00m at 0.28g/t Au
MBDD046	23.10	30.40	0.48	7.30m at 0.48g/t Au
and	77.70	78.70	0.29	1.00m at 0.29g/t Au
MBDD047	13.40	17.90	0.26	4.50m at 0.26g/t Au
and	20.00	21.10	0.30	1.10m at 0.30g/t Au
and	24.40	25.50	1.33	1.10m at 1.33g/t Au
and	28.90	30.00	1.10	1.10m at 1.10g/t Au
and	48.30	49.30	0.37	1.00m at 0.37g/t Au
and	52.30	56.30	2.43	4.00m at 2.43g/t Au
including	53.30	54.30	6.65	1.00m at 6.65g/t Au
and	61.50	62.60	0.54	1.10m at 0.54g/t Au
and	70.30	71.40	0.62	1.10m at 0.62g/t Au
and	123.30	126.30	4.16	3.00m at 4.16g/t Au
including	125.30	126.30	12.00	1.00m at 12.00g/t Au
and	158.50	159.50	0.41	1.00m at 0.41g/t Au
and	166.90	171.30	0.36	4.40m at 0.36g/t Au
and	184.50	185.50	0.47	1.00m at 0.47g/t Au
and	206.00	208.20	0.22	2.20m at 0.22g/t Au
and	214.10	215.30	0.20	1.20m at 0.20g/t Au
and	216.50	217.50	5.37	1.00m at 5.37g/t Au
and	221.00	223.30	0.39	2.30m at 0.39g/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.

All holes returned gold-mineralised intersections, related to sulphide-telluride veinlets and breccias, with the best grades being from MBDD045 and MBDD047.  Both holes continue to demonstrate narrow higher gold grade zones within wider envelopes of lower grade mineralisation, for example 6.00m at 2.41g/t Au, including 1.00m at 13.00g/t Au (MBDD045), and 3.00m at 4.16g/t Au, including 1.00m at 12.00g/t Au (MBDD047).  They are expected to extend the limits of the current MRE to the west and south respectively.

Figure 2. Core box photograph showing the higher grading portions of the 6.00m at 2.41g/t Au intersection from hole MBDD045, and the 3.00m at 4.16g/t Au intersection from hole MBDD047.  The red lines on the core mark the start and finish of the respective mineralised intervals.

Figure 3. Simplified cross section of fence line N872382, with newly reported results from MBDD045.  Previously reported best results from holes MBDD021 to MBDD023 and trench line MBT009 are also presented.  MBT009 is located approximately 50m south of the fence line.

 

Figure 4. Simplified cross section of fence line N872306, with newly reported results for holes MBDD046 and MBDD047.  Previously reported best results from trench line MBT009, located approximately 10m north of the fence line.  Final interpretation of this fence line is subject to receipt of the results from holes MBDD048 and MBDD049.

MBDD045 was drilled through a zone of mineralisation that previously only had trenching data and the results have therefore underpinned the depth extension of mineralisation over that area.   

Mineralisation in MBDD046, albeit limited, potentially represents the along-strike extension of mineralisation previously reported in MBDD023 (100m to the northwest; see announcement dated 22 September 2025).  Likewise, MBDD047 likely represents the along-strike extension of mineralisation in MBDD024 (which reported 29.80m at 0.79g/t Au from 116.90m, including 13.70m at 1.36g/t Au; see announcement dated 22 September 2025), located 100m to the northwest, and indeed MBDD044, located 200m to the northwest, which earlier this month returned 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 (see announcement dated 8 June 2026). 

As previously announced, the MRE wireframes will be rotated from a N-S to NNW-SSE orientation (see announcement dated 08 June 2026), as a result of more structural data since the maiden MRE.  In this context, the northwest trending zone linking holes MBDD044, MBDD024 and MBDD047 extends over an approximate 300m strike length.

Results for the remaining two holes in the Programme are anticipated early 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 current 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/ 

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: [phone]
Martin Rosser / Bob Smeeton / Claire Bay
Strand Hanson Limited (Nomad & Broker)	Tel: [phone]
Christopher Raggett / James Spinney / Edward Foulkes
IFC Advisory Ltd (Financial IR & PR)	Tel: [phone]
Tim Metcalfe / Graham Herring / Florence Staton	[e-mail]

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
km2	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 (31.1035g)
QAQC	Quality Assurance Quality Control
t/m3	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 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 312km², is an orogenic gold project located within the broader 2,266km² '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 discovery, 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 early this month, will lead to an updated MRE published in Q3-2026.

For further information please visit www.orioleresources.com,  @OrioleResources on X

 

END