Sale of Muratdere Royalty

Oriole Resources PLC

18 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” or the “Company”)

Sale of Muratdere Royalty

Oriole Resources PLC (AIM: ORR), the AIM quoted gold exploration and development company focused on Central and West Africa, is pleased to report that an agreement has been reached with Ardent Metals LLC-FZ,  (“Ardent”), a company incorporated in Dubai, for the sale of the Company’s 1.2% Net Smelter Return royalty (the “Royalty”) in the Muratdere project (“Muratdere” or the “Project”) in Turkey, for a total of US$1.2 million.

Highlights

·           Ardent will pay Oriole US$1.2 million in return for the Royalty, with payment being made in three tranches; 

·           US$400,000 of the consideration has already been received and the title to the Royalty has been transferred to Ardent;

·           The balance of the consideration is receivable in two further tranches, US$400,000 by 19 March 2027 and US$400,000 by 19 September 2027; and

·           The title to the Royalty automatically reverts back to Oriole, in full, in the event of delayed payment of either of these two outstanding instalments.

Chief Executive Officer of Oriole Resources, Martin Rosser, said: “We are pleased to announce the disposal of our non-core Muratdere royalty as the sale provides significant cash proceeds which can be devoted to funding the Company’s important activities in Cameroon.”

Further Details

The Company was operator at the Project between 2005 and 2011 and, during that period, delivered a JORC-compliant Inferred Resource of 51 million tonnes (“Mt”) grading 0.36% copper (“Cu”), 0.12 g/t gold (“Au”), 2.40 g/t silver (“Ag”), 0.0125% molybdenum (“Mo”) and 0.34 parts per million rhenium ('Re') (announcement dated 15 June 2011).  This Resource was primarily defined within a 2km-long section of a 4km-long porphyry system and remained open along strike and at depth. 

In 2012, the Company signed a joint-venture agreement whereby it sold a 51% interest in the Project to Lodos in return for US$1.7m (announcement dated 30 July 2012).  Further investment by Lodos, including the completion of 7,900m of diamond drilling, the payment of US$500,000 to the Company and completion of a Feasibility Study in 2015, saw it earn a 70% interest in Muratdere and commence the environmental impact assessment permitting process (announcement dated 11 March 2015).  The Feasibility Study envisaged the mining and processing of a total of 16Mt of ore with a mean grade of 0.52% Cu, 0.0125% Mo, 0.11 g/t Au, and 2.40 g/t Ag over a mine life of 10 years which, on the basis of open-pit mining and ore concentration by a state-of-the-art flotation facility (designed with zero discharge), would produce a concentrate with an average grade of 33.6% Cu.

In 2019, following continued investment in the Project by Lodos, Oriole's prior equity interest was converted to a 1.2% post-tax NSR royalty in accordance with the terms of the joint venture.

The Company today reports that is has sold this Royalty to Ardent for a total consideration of US$1.2 million, to be paid in three tranches of US$400,000 each.  The first tranche has been received and the Company’s title in the Royalty has been transferred to Ardent.  The remaining two tranches are due by 19 March 2027 and 19 September 2027 respectively.

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]

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 (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 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 late Q3-2026.

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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