Northern Zone: Geotechnical Drilling for MDCP

Oracle Power PLC (AIM: ORCP), an international project developer, is pleased to announce the commencement of diamond drilling operations (see Figure 1) at its Northern Zone gold project located 25km east of Kalgoorlie in Western Australia (refer to Figure 2) (the "Northern Zone Gold Project" or "Northern Zone").

Highlights

• Oracle and Riversgold Limited ("Riversgold") continue to advance Northern Zone towards a Mine Development and Closure Plan (MDCP).
• Geotechnical drilling has now commenced at the project.
• This latest important drilling programme will inform the rock strength for pit slope design and ongoing mine planning studies towards the finalisation of the MDCP.
• As previously announced, conversion of the Northern Zone tenement to a Mining Lease is well advanced and is expected shortly.
• Oracle and Riversgold have previously signed a Right to Mine and Co-Operation Agreement with MEGA Resources (MEGA) in respect of the Northern Zone Gold Project.[1]
• MEGA will provide all development and mining funding for Northern Zone on a 50/50 profit share basis.

Naheed Memon, CEO of Oracle, commented:

"This small but important diamond drilling programme will acquire whole rock core in the fresh rock zones across the porphyry intrusion, the analysis of which will provide critical structural and rock strength data for pit slope stability in final pit design work for the MDCP. The imminent Mining Lease grant and MDCP maturation, will provide long-term security of tenure for the Northern Zone Gold Project for the ultimate benefit of our shareholders and our partners in the development of Northern Zone."

Based on the indicative pit layout from MEGA and lithological setting, four diamond drill holes to depths of approximately 100-150 metres below surface, are planned to be completed, targeting key geotechnical data requirements. The core will be photographed, structurally logged and sampled by Xirlatem in Kalgoorlie, with the selected whole core samples then sent to Perth for laboratory testing.

Samples collected from the drilling programme will be used to undertake geotechnical laboratory testing which will include Unconfined Compressive Strength (UCS) and Direct Shear tests. The results of this work will be used to inform pit slope design to support the development of a stable and optimised pit design, and ongoing mine planning studies.

Northern Zone is hosted within a porphyry unit (Tonalite-Trondhjemite Intrusion, TTI), with high background gold and horizontal gold mineralised units within the TTI unit. The Northern Zone Gold Project sits within the Canon Shear or fault zone, with further drilling required to define the limits of mineralisation identified to date. The horizontal mineralisation makes drilling to date perpendicular to the gold mineralisation, and no water in drilling to a depth of 60 metres makes the TTI also suitable for drilling with the techniques the Company has utilised to date.

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Oracle Power PLC

Naheed Memon - CEO +44 (0) 203 580 4314

Strand Hanson Limited (Nominated Adviser & Broker)

Rory Murphy, Matthew Chandler, Rob Patrick +44 (0) 20 7409 3494

St Brides Partners Limited (Financial PR)

Susie Geliher, Isabel de Salis +44 (0) 20 7236 1177