Mbe Drilling Confirms Higher-Grade Gold Potential

Oriole Resources PLC (AIM: ORR), the AIM quoted gold exploration company focused on West and Central Africa, is pleased to provide an update on its 90%[1] owned Mbe orogenic gold project (the 'Project') in Cameroon, including further positive drill results that continue to demonstrate the potential for narrower zones of high-grade gold mineralisation within the wider, lower-grade mineralised envelopes.

Highlights

• Results from drillhole MBDD009 have increased the total mineralised gold ('Au') intersections from the maiden ('Phase 1') drilling programme to 137 (using a 0.20 g/t Au lower cut-off grade) (see Figure 1 and Table 1 below), including:

o 2.00m at 25.77g/t Au from 147.10m, including 1.00m at 51.30g/t Au.

o 11.20m at 0.50g/t Au from 66.60m, including 1.60m at 1.04g/t Au and 2.00m at 1.07g/t Au.

o 1.10m at 2.99g/t Au from 119.00m.

o 1.00m at 1.06g/t Au from 124.00m.

• Hole MBDD009 is located approximately 160m to the west of hole MBDD008, where a best intersection of 86.50m at 1.36g/ Au was reported last week. These results have extended the width of the mineralised corridor on this fence line to over 400m and continue to demonstrate the potential for narrower zones of higher-grade gold within, and proximal to, the wider, lower-grade envelopes.
• The fully funded Phase 1 drilling programme at the MB01-S target is over 60% complete, with 13 holes (MBDD001-013) drilled to date and a fourteenth hole (MBDD014) in progress.
• Results for holes MBDD010-012 are expected later this quarter, with samples from hole MBDD010 already on their way to Bureau Veritas in Côte d'Ivoire for fire assay analysis.
• The drilling programme is currently scheduled for completion in Q3-2025, and the Company anticipates publishing a maiden, pit-contained MRE in Q4-2025.
• Ahead of this, the Company plans for an independent consultant to produce a JORC Exploration Target estimation in Q3-2025 to provide earlier guidance on the resource potential of the Project. The Company believes that the Project could be mined by open pit mining methods.

Chief Executive Officer of Oriole Resources, Martin Rosser, said: "Building on the last announcement of outstanding drilling results, hole MBDD009 is significant as it supports our view that we can expect narrower zones of high-grade gold mineralisation within the wider, lower-grade mineralised envelopes. The 1.00m at 51.30g/t gold intersection is the highest grade encountered to date."

Figure 1. Interpretative cross section for fence line N872482 at MB01-S, with selected mineralised intervals from holes MBDD001, MBDD002, MBDD007, and MBDD008 (blue labels; previously announced on 24 March 2025 and 15 May 2025) and MBDD009 (green labels; announced today). The fence line is located approximately 40m to the south of trench MBT008, the results for which are shown in red along the surface trace.

After highly encouraging results from infill soil sampling, rock-chip sampling, and trench sampling, a fully funded maiden drilling programme commenced at the MB01-S target in late November 2024 for a planned 6,590m in 24 holes. BCM International has acquired an initial 10% interest in Mbe and is earning up to a further 40% interest by spending up to US$4 million on exploration.

A total of 3,966.20m has been drilled to date, with 13 holes completed (MBDD001-013) and a fourteenth hole (MBDD014) in progress. The Company today reports results for the ninth hole, MBDD009, located on fence line N872482, which was drilled towards the west (270˚). Results have delivered 12 gold mineralised intersections (Table 1, Figure 2), such as 2.00m at 25.77g/t Au, including 1.00m at 51.30g/t Au (the highest grading sample from the drilling programme to date), and 11.20m at 0.50g/t Au, including 1.60m at 1.04g/t Au and 2.00m at 1.07g/t Au. A review of the QAQC samples has confirmed that the data falls within acceptable limits of error.

The total number of gold-bearing intersections from the first nine holes in the programme, MBDD001-009, stands at 137. Other significant intersections from the programme to date include: 86.50m at 1.36g/t Au, including 39.40m at 2.00g/t Au, 6.00m at 2.24g/t Au, and 3.00m at 2.32g/t Au, and 8.50m at 2.25g/t Au, including 1.00m at 17.00g/t Au (MBDD008); 29.75m at 0.88g/t Au, including 17.30m at 1.35g/t Au, and 26.30m at 0.65g/t Au, including 10.90m at 1.08g/t Au from MBDD002; 24.20m at 0.45g/t Au including 3.00m at 1.27g/t Au (MBDD007); 8.00m at 1.00g/t Au and 4.24m at 8.12g/t, Au including 1.72m at 19.08g/t Au (MBDD003); 23.10m at 0.71g/t Au, including 7.20m at 1.02g/t Au and 2.00m at 2.48g/t Au, and 5.60m at 1.03g/t Au from 7.50m (MBDD005); and 13.80m at 0.61g/t Au, including 3.40m at 1.17g/t Au and 2.10m at 1.06g/t Au (MBDD006) (Announcements dated 24 March 2025 and 15 April 2025, 12 May 2025; Figure 2).

Figure 2. Plan for Phase 1 drilling at MB01-S with a selection of best results to date from MBDD001 to MBDD009. Green dots denote holes drilled towards 090 degrees and blue dots are those drilled towards 270 degrees.

Table 1. Calculated intersections from Phase 1 holes MBDD009, using a 0.20g/t Au lower cut-off grade. Results greater than 1.00g/t Au are in bold.

* Intersections greater than 1.00m, calculated using a 0.20g/t Au lower cut-off grade and no more than 35% internal dilution. True widths are not currently known.

The results reported today have delivered the highest grading intersection to date at the Project, with mineralisation over this interval associated with steeply NE-dipping smoky quartz veins hosted by a quartz feldspar porphyry (QFP) unit, that is considered to have a strong spatial relationship with the gold mineralisation at Mbe (Figure 3).

These results have extended the width of the mineralised corridor on this fence line (N872482) to over 400m and continue to demonstrate the potential for narrower zones of higher gold grade within and proximal to the wider, lower-grade envelopes. The Company believes that the Project could be mined by open pit mining methods.

Figure 3. Highest grading interval of 1.00m at 53.10g/t Au, within the wider 2.00m at 25.77g/t Au intersection from MBDD009. High-grading material is associated with NE-dripping (NNW-trending) smoky quartz veinlets hosted by a QFP intrusion.

Results for holes MBDD010 to MBDD012 are expected later this quarter, with samples from hole MBDD010 already on their way to the Bureau Veritas laboratory in Côte d'Ivoire for fire assay analysis. Holes MBDD010 to MBDD012 have been drilled on a new fence line, N872572, which is located between fence line N872472 (100m to the south), and N872672 (100m to the north) and will enable better assessment of the gold distribution along strike.

This drilling programme is currently scheduled for completion in Q3-2025, and the Company anticipates publishing a maiden, pit-contained MRE in Q4-2025, which will be estimated in accordance with the JORC code. Ahead of this, the Company plans for an independent consultant to undertake a JORC Exploration Target estimation in Q3-2025.