High-grade Limestone Confirmed at Wapouzé Project

Oriole Resources PLC

24 September 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”)

High-grade Metamorphosed Limestone Confirmed at the Wapouzé Project

Environmental and Social Impact Assessment Underway

Oriole Resources (AIM: ORR), the AIM quoted exploration and development company focused on Central and West Africa, is pleased to announce results for the maiden diamond drilling programme (the “Programme”) at its 85%-owned Wapouzé limestone project (“Wapouzé” or the “Project”) in north-eastern Cameroon.  Furthermore, a local-level Environmental and Social Impact Assessment (“ESIA”) is currently underway at the Project to support the submission of an Exploitation Licence Application (“ELA”) in Q4-2026.

Highlights

·           Oriole has received full geochemical results for the 1,053.80m (in 21 holes) Programme at Wapouzé, which targeted three main zones in the northeast of the licence, over an approximate 1.2km cumulative strike length of outcropping metamorphosed limestone (or “marble”), and up to a 47.50m vertical depth from surface.

·           Marble units were encountered within every hole of the Programme with the majority of holes returning high-quality carbonate material (high CaO, >50wt%, and low MgO, <2wt%).  Notable intersections include:

o         53.50m at an average of 53.88wt% CaO and 0.88wt% MgO from 1.30m depth in WPDD012

o         37.15m at an average of 53.42wt% CaO and 0.82wt% MgO from 10.95m depth in WPDD014

o         23.00m at an average of 53.90wt% CaO and 0.64wt% MgO from 1.30m depth in WPDD001

o         20.05m at an average of 51.10wt% CaO and 1.16wt% MgO from 29.00m depth in WPDD015

The data will be used by the Company’s Independent resource consultant to prepare a maiden JORC Mineral Resource Estimate (“MRE”) and/or Exploration Target that is scheduled for publication in early Q4-2026.

·           In addition, a local level ESIA is currently underway to support the submission of an ELA in Q4-2026.

Chief Executive Officer of Oriole Resources, Martin Rosser, said: “The sampling results from the maiden drilling programme over the three targeted zones at Wapouzé show significant intersected widths of marble at CaO and MgO grades acceptable for a potential quarrying operation supplying product for use in the cement manufacturing industry.

“Of particular note is the absence of dolomite throughout the exploration programme, and the very pure >54wt% CaO intervals that we believe should qualify for use as chemical lime, which is a relatively valuable commodity and used in gold ore processing, but also in many chemical industry processes.  

“We eagerly await the outcome of our geological consultant's maiden MRE and/or Exploration Target, scheduled for publication in early Q4-2026, as this will considerably enhance our efforts to bring in a cement industry partner and potentially to achieve royalty-based income and valuable in-country revenue that could be used as additional funding for Oriole's gold-focused exploration work in Cameroon.”

Figure 1. Wapouzé Programme drill plan showing the average chemistry from notable marble intervals.  Plotted on MAXAR satellite image, and showing rock-chip sampling results with MgO values of less than 5wt% and more than 50wt% CaO shown in yellow.  Samples with >50wt% CaO and <2wt% MgO are considered to have carbonate content suitable for use in the cement industry

Further Details

The Wapouzé Project is in north-eastern Cameroon, approximately 100km NE of Garoua and 20km north of the Company's Bibemi gold project.  Wapouzé was initially an early-stage gold exploration project; however, the Project was deemed less prospective for gold than Bibemi but the Company noted the presence of large quantities of carbonate rock (predominantly marble) and applied for a change in commodity to marble, granted in 2022.

Since the change in commodity, a number of surface exploration programmes have focused on the potential high-grade marble (typically >50% CaO with low magnesium and silica) material that would make it potentially suitable for use in the cement industry (see announcement dated 21 April 2026). 

Oriole Resources today reports results from its maiden diamond drilling programme that was completed for 1,053.80m in 21 holes. Samples were analysed for major element chemistry via x-ray fluorescence (XRF) at SGS South Africa and the QAQC was considered good throughout.  

Intersections have been calculated based on lithological continuity and where all individual intervals recorded CaO >42wt%, which is the lower limit required for clinker, while noting that the majority of individual intervals often exceeded 50wt% CaO (Table 1).  It should be noted that within these intersections, there can be thin lenses (typically 0.10-0.50m) of non-limestone material (such as schists, quartzites and meta-volcanic intrusions), but their chemistry has not reduced the overall average CaO within the respective intervals.  They have also not raised the average MgO content above acceptable levels (i.e. >5wt%).  ˚These non-carbonate beds could readily be blended into an Ordinary Portland Cement (“OPC”) raw mix composition bringing valuable silica and alumina without pushing overall MgO above the 2% OPC raw mix threshold.

Certain intervals in the boreholes show CaO content above 54%.  This very pure limestone should satisfy criteria for high grade chemical lime manufacture, a valuable commodity in both the chemical and mining industries, particularly gold ore leaching.  

Of material falling within the main limestone package (therefore not including clearly defined hangingwall and footwall zones or an intrusion at depth in WPDD020), the proportion of non-limestone materials not sampled or assayed equates to 11.5% of the total Programme.  The material has been retained to enable future analysis should it be required.

Table 1. Downhole intersections of logged marble units from the Programme.  Reported grades are length-weighted averages of all assayed samples within each interval, where individual samples are >42 wt% CaO.  Intervals <42wt% CaO and unsampled intervals are excluded, and composites do not bridge low CaO (<42wt%) or unsampled gaps.  Reported widths are downhole lengths; true widths are estimated to be ~93% of reported intervals, based on an average inclination of ~70˚˚°.

Hole ID	From	To	Interval (m)	Average CaO (wt%)	Average MgO (wt%)
WPDD001	1.30	24.30	23.00	53.90	0.64
and	28.30	33.30	5.00	53.96	0.66
and	34.30	38.30	4.00	50.43	1.13
and	40.30	43.30	3.00	48.73	1.13
and	44.30	48.40	4.10	46.90	1.39
and	49.50	50.60	1.10	47.90	1.50
and	51.70	55.00	3.30	50.60	1.00
WPDD002	0.40	14.60	14.20	53.08	0.70
and	15.70	24.90	9.20	48.54	1.39
and	25.90	28.90	3.00	45.40	2.07
and	29.90	31.90	2.00	52.65	0.85
and	33.00	39.00	6.00	49.27	1.35
WPDD003	1.70	5.50	3.80	53.37	0.78
and	6.25	7.20	0.95	43.40	1.40
and	9.10	12.15	3.05	54.20	0.73
and	13.65	15.25	1.60	48.10	1.10
and	19.40	20.30	0.90	53.40	1.30
and	21.00	26.10	5.10	51.55	1.36
and	26.90	29.20	2.30	51.50	1.00
and	32.95	37.35	4.40	51.03	1.20
and	41.10	45.50	4.40	46.80	0.95
WPDD004	0.10	9.00	8.90	52.56	0.81
and	10.00	12.75	2.75	49.31	1.41
and	13.95	19.00	5.05	51.09	1.00
and	20.00	27.00	7.00	50.09	1.09
and	28.00	30.00	2.00	48.85	1.00
and	32.00	33.00	1.00	43.30	1.30
and	35.00	44.10	9.10	50.97	1.01
and	47.30	55.00	7.70	55.46	0.60
WPDD005	0.60	5.60	5.00	53.06	0.58
and	6.40	14.50	8.10	51.71	0.83
and	16.50	36.00	19.50	53.59	0.78
and	37.00	41.20	4.20	53.82	0.70
WPDD006	1.55	11.00	9.45	50.84	0.87
and	12.00	16.00	4.00	51.65	1.10
and	17.00	19.00	2.00	49.75	1.35
WPDD007	0.00	3.00	3.00	51.73	0.53
and	7.20	11.20	4.00	46.15	1.05
and	16.20	17.20	1.00	44.20	0.90
and	29.20	32.20	3.00	52.03	1.77
and	38.10	50.00	11.90	52.16	1.12
WPDD008	1.40	16.40	15.00	52.76	1.01
and	17.50	28.50	11.00	50.47	1.51
and	30.35	33.50	3.15	51.84	1.16
and	35.15	41.20	6.05	51.50	1.23
and	42.05	43.30	1.25	54.60	0.60
and	44.10	47.10	3.00	50.43	1.03
and	48.10	49.10	1.00	44.70	1.60
and	52.00	55.00	3.00	48.80	1.30
WPDD009	0.00	19.00	19.00	54.13	0.77
and	20.00	22.00	2.00	52.60	0.85
and	28.05	32.75	4.70	53.06	0.91
and	33.50	48.50	15.00	52.89	0.91
WPDD010	0.00	2.50	2.50	54.90	0.70
and	4.20	5.20	1.00	42.70	2.50
and	6.20	8.20	2.00	52.00	1.00
and	9.20	14.20	5.00	54.68	0.78
and	15.20	32.50	17.30	53.06	0.85
and	33.60	35.95	2.35	53.18	0.99
and	40.65	46.90	6.25	51.42	0.88
and	48.00	51.30	3.30	48.33	1.07
and	52.05	54.40	2.35	55.40	0.60
and	54.90	58.20	3.30	54.70	0.70
WPDD011	0.00	14.70	14.70	53.85	0.69
WPDD012	1.30	54.80	53.50	53.88	0.88
WPDD013	0.00	1.00	1.00	54.60	0.50
and	2.00	18.25	16.25	53.21	0.95
and	18.65	19.70	1.05	54.64	0.75
and	24.00	43.90	19.90	51.98	0.99
WPDD014	7.50	9.55	2.05	49.68	1.50
and	10.95	48.10	37.15	53.42	0.82
and	49.10	50.00	0.90	53.70	0.70
WPDD015	0.20	8.00	7.80	54.11	0.98
and	8.55	10.10	1.55	52.16	0.59
and	14.50	16.50	2.00	49.25	0.90
and	17.50	23.20	5.70	54.04	0.52
and	26.00	28.00	2.00	47.80	1.95
and	29.00	49.05	20.05	51.10	1.16
and	49.90	60.00	10.10	51.03	0.90
WPDD016	4.10	13.30	9.20	49.18	1.03
and	14.45	15.60	1.15	52.70	0.90
and	18.65	21.70	3.05	46.79	1.39
and	23.80	25.80	2.00	54.00	1.05
and	27.90	32.00	4.10	53.54	1.48
and	33.00	36.00	3.00	55.60	0.80
WPDD017	12.80	25.00	12.20	53.57	0.63
and	28.00	37.00	9.00	51.32	0.88
and	40.00	44.00	4.00	47.60	1.45
and	45.10	48.30	3.20	49.07	1.39
and	49.00	52.80	3.80	47.82	0.98
WPDD018	7.40	8.40	1.00	48.40	0.70
and	9.50	14.00	4.50	48.21	1.98
and	18.50	22.50	4.00	52.35	0.65
and	24.05	26.05	2.00	50.25	0.95
and	27.35	28.35	1.00	43.80	1.30
and	32.40	33.55	1.15	46.80	1.40
and	40.90	43.55	2.65	52.29	1.07
WPDD019	0.00	12.05	12.05	50.23	0.89
and	13.30	14.40	1.10	49.20	1.00
and	15.50	24.30	8.80	49.36	0.95
and	25.40	27.40	2.00	50.60	0.95
and	28.50	30.50	2.00	47.60	1.00
and	31.50	34.50	3.00	47.30	1.23
WPDD020	1.65	3.40	1.75	45.54	0.94
and	5.50	7.20	1.70	51.29	0.92
and	7.95	8.95	1.00	52.40	0.60
and	9.65	14.50	4.85	52.83	0.60
and	14.80	27.30	12.50	51.76	0.78
WPDD021	1.38	5.25	3.87	48.57	1.06
and	13.62	14.70	1.08	51.80	2.30
and	15.24	16.70	1.46	49.10	2.70
and	17.57	25.25	7.68	49.21	1.23
and	27.77	29.00	1.23	44.90	2.70
and	30.74	36.20	5.46	48.29	1.32
and	41.00	42.10	1.10	45.00	2.30
and	52.25	54.50	2.25	46.81	1.95
and	55.60	58.60	3.00	52.90	0.73

Simplified lithological cross sections show the downhole continuity of marble material, and highlight the generally consistent chemistry of high CaO, and low MgO.

Figure 2. Cross section for Zone 1 (South) showing lithological interpretation and downhole geochemistry, with a 50% threshold line for CaO and a 2% threshold line for MgO

Figure 3. Cross section for Zone 1 (North) showing lithological interpretation and downhole geochemistry, with a 50% threshold line for CaO and a 2% threshold line for MgO

While it is noted that lenses of non-limestone material are present within the drilled sequences, sometimes up to ~10m in apparent thickness, the overall chemistry of the marble is relatively consistent throughout the zones.  Cumulative thicknesses and average chemistry of the high CaO grading marble are presented in Table 2.  The majority of holes returned high-quality marble (>50wt% CaO and <2% MgO) over more than 50% of their length.  With such high overall CaO content, the chlorite schist and quartzite could be mined simultaneously, incorporated into a raw mix whilst maintaining a lime saturation coefficient well over 1.   

Table 2. Cumulative downhole length of logged marble units in each drill hole, together with length-weighted average CaO and MgO grades and the proportion of the total drilled length represented by logged marble.

Hole ID	Cumulative thickness (m)	Average CaO (wt%)	Average MgO (wt%)	% of marble within hole
WPDD001	43.50	52.17	0.84	79.09
WPDD002	34.40	50.51	1.13	62.55
WPDD003	26.50	50.80	1.06	55.79
WPDD004	43.50	51.58	0.94	79.09
WPDD005	36.80	53.13	0.75	66.91
WPDD006	15.45	50.91	0.99	58.30
WPDD007	22.90	50.69	1.11	45.80
WPDD008	43.45	51.37	1.20	79.00
WPDD009	40.70	53.47	0.84	81.40
WPDD010	46.45	52.53	0.90	74.68
WPDD011	18.20	52.53	0.80	68.68
WPDD012	53.50	53.88	0.88	97.63
WPDD013	38.20	52.64	0.95	76.40
WPDD014	40.10	53.24	0.85	80.20
WPDD015	49.20	51.73	1.01	82.00
WPDD016	22.50	51.11	1.13	56.25
WPDD017	32.20	51.07	0.92	58.55
WPDD018	16.30	49.78	1.22	32.60
WPDD019	28.95	49.47	0.96	62.26
WPDD020	21.80	51.49	0.76	43.60
WPDD021	27.13	48.87	1.46	45.22

A ground geophysical survey has also recently been completed by the Company’s Cameroon partner Bureau d’Etudes et d’Investigations Géologico-Minières, Géotechniques et Géophysiques (“BEIG3”).  This survey, together with the geochemistry presented today and a range of other exploration data (geological mapping and rock chip sampling), has been given to Forge International, the Company’s Independent geological consultant, to enable its estimation of a maiden JORC MRE and/or Exploration Target.  The MRE is expected to be reported in early Q4-2026.

Commercially, a significant limestone deposit at Wapouzé could be highly suitable for use within Cameroon's cement industry, which is believed to be worth several hundred million pounds per year, largely supported by expensive imports of required clinker material.  The Company believes that there is a significant demand for cement (for concrete) within Cameroon and neighbouring Chad (with its capital, N'Djamena, approximately 250km NNE of Wapouzé).  Furthermore, Cameroon has seen substantial foreign investment made into expanding its cement manufacturing capacity, with neighbouring plants to Wapouzé producing cement from similar material, and the government is keen to see its reliance on imported clinker reduce significantly.

Oriole Resources is continuing its discussions with potential industry partners that could advance Wapouzé towards development and exploitation on an expedited basis.  The Company is ultimately looking to achieve royalty-based income from a commercial scale quarrying operation, likely to be based upon the volume of material extracted, which would provide valuable in-country revenue that could be used additional funding for its gold exploration work in Cameroon.

As part of this process, the Company has engaged Jurilex International to complete a local-level ESIA for Wapouzé which, once completed, will form part of an Exploitation Licence application for the Project.  This is expected to be for a simple quarry operation for the extraction of the marble.  It is anticipated that the ELA will be submitted in Q4-2026.

For further information on Wapouzé, including maps and a JORC Table 1, please see the following page of the Company's website https://orioleresources.com/projects/wapouze/.

Enquiries:

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

Glossary and Abbreviation

CaO	Calcium oxide (commonly called lime)
Cement Raw Mix	Powder feed for a cement kiln which obeys strict chemical parameters notably the Lime Saturation Coefficient (Kühl equation) but also silica alumina and alumina iron ratios
clinker	A solid lumpy material output from a cement kiln produced by firing a raw mix at 1450°C composed principally of limestone or marble with silico-alumina and iron material (clays, sand, schists etc.)  Clinker is inert for transport or storage but once ground to a fine powder with a small proportion of gypsum becomes Ordinary  Portland cement (OPC)
Company	Oriole Resources PLC
Dolomite	A sedimentary rock composed primarily of calcium magnesium carbonate
ELA	Exploitation Licence Application
ESIA	Environmental and Social Impact Assessment
Exploration Target	An estimate of the exploration potential of a mineral deposit, expressed as a range of tonnes and grades, where there has been insufficient exploration to estimate a Mineral Resource
Footwall	The block of rock underlying a fault, orebody, or mine working
Forge	Forge International Limited
g/t	Grammes per tonne
Hangingwall	The block of rock overlying a fault, orebody, or mine working
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
m	Metres
MgO	Magnesium oxide
MRE	Mineral Resource Estimate
Ordinary Portland Cement (OPC)	A fine grey powder made by heating limestone and clay minerals in a kiln to form clinker, then grinding it with a small amount of gypsum. It is the most common type the most common type of hydraulic cement used as a basic binding agent for concrete, mortar, stucco, and general construction worldwide of hydraulic cement used as a basic binding agent for concrete, mortar, stucco, and general construction worldwide
Oriole Resources	Oriole Resources PLC
QAQC	Quality Assurance Quality Control
Wapouzé	Wapouzé limestone project in northern Cameroon
wt%	Weight percent is a way to measure the concentration of a mixture or solution by comparing the mass of one component to the total mass of the entire mixture
XRF	X-ray fluorescence, an analytical technique used to determine the elemental composition of a material

Notes to Editors

Oriole Resources PLC is an AIM-quoted gold exploration and development company, with projects in Central and West Africa.  It is currently focused on projects in Cameroon.

At its district scale Central Licence Package (CLP) in Cameroon, 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 1.66Moz contained gold at MB01, consisting of 1.30Moz at 1.01g/t Au for the MB01-S deposit, and 360koz at 1.05g/t Au for the MB01-N deposit.  Following the completion of the MB01-N drilling programme, and by meeting various financial commitments, BCM International (“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 in Cameroon, 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 its 85%-owned Wapouzé limestone project in north-eastern Cameroon, the Company has recently completed a maiden drilling programme for 1,053.80m in 21 holes.  The Company anticipates that results from this programme, a recently completed ground geophysics (resistivity) survey and historical surface exploration, will support the delivery of a maiden MRE and/or a JORC Exploration Target for the Project in early Q4-2026.

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.  A JV agreement was signed in July 2026 with a US$2 million work programme planned for the current field season.

The Company also has several interests in companies operating in East Africa and Turkey that could give future cash payments.

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

 

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