Receipt of US$450,000 Bibemi Signature Payment
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Oriole Resources (AIM: ORR), the AIM-quoted gold exploration company focussed on West Africa, is pleased to report that, following the recently-executed definitive earn-in agreement on its Bibemi gold project in Cameroon, it has received the remaining US$450,000 signature payment from BCM International Limited ('BCM'; announcement dated 5 January 2024).
As previously announced, expenditure against BCM's US$4 million funding commitment at Bibemi has already commenced, with approximately US$72k received to support camp upgrades and ongoing technical studies ahead of the application for an exploitation licence in 2024. Drilling is expected to resume at Bibemi in Q1-2024 and further details on the programme will be provided in due course.
| Oriole Resources Plc | Tel: +44 (0)23 8065 1649 |
| Tim Livesey / Bob Smeeton / Claire Bay | |
| BlytheRay (IR/PR Contact) | Tel: +44 (0)20 7138 3204 |
| Tim Blythe / Megan Ray | |
| Grant Thornton UK LLP | Tel: +44 (0)20 7383 5100 |
| Samantha Harrison / Ciara Donnelly | |
| SP Angel Corporate Finance LLP Ewan Leggat / Harry Davies-Ball | Tel: +44 (0)20 3470 0470 |
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