Mbe - further significant gold mineralisation

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 reinforce Mbe's potential to be a major new gold discovery.

Highlights

• Results from drill hole MBDD012 have increased the total number of mineralised gold ('Au') intersections from the maiden ('Phase 1') drilling programme to nearly 200 (using a 0.20 g/t Au lower cut-off grade; see Figures 1 & 2 and Table 1 below), including:

o 21.30m at 1.61g/t Au from 2.40m, including 11.00m at 2.04g/t Au and 4.00m at 2.53g/t Au

o 3.20m at 0.52g/t from 86.50m, including 1.10m at 1.20g/t Au

o 2.50m at 10.31g/t Au from 98.50m, including 1.50m at 14.70g/t Au

o 3.10m at 1.10g/t Au from 179.60m

• Hole MBDD012 was drilled on fence line N872582, located between previously drilled fence lines N872482 (100m to the south) and N872682 (100m to the north), and to the west of MBDD010 and MBDD011 for which results were reported earlier this week (announcement dated 10 June 2025).
• The 21.30m at 1.61g/t Au intersection from 2.40m is located approximately 110m to the northwest of previously reported best intersection of 86.50m at 1.36g/t Au from 22.00m in hole MBDD008 (announcement dated 12 May 2025) and, based on the soil results (see Figure 2) would suggest a coherent zone of mineralisation between these fence lines.
• These near-surface results, together with those reported for holes MBDD010 and MBDD011, further support the along-strike continuity of mineralisation between all three fence lines reported to date. Sub-surface mineralisation has therefore been confirmed over a strike length of at least 200m, a width of up to 400m and to a vertical depth of as least 290m. The system remains open in all directions and at depth.
• The fully funded Phase 1 drilling programme at the MB01-S target is almost 70% complete, with 4,568.90m drilled to date, and with 15 holes (MBDD001-015) completed and a sixteenth hole (MBDD016) in progress.
• Results for hole MBDD013 are expected in late Q2/early Q3 2025, with samples on their way to Bureau Veritas in Côte d'Ivoire for fire assay analysis. Once these have been received, the Company plans for an independent consultant to produce a JORC Exploration Target estimation in Q3 2025, to provide early guidance on the resource potential of the Project.
• The drilling programme is currently scheduled for completion in Q3 2025, and the Company anticipates publishing an independent consultant's maiden, pit-contained MRE in Q4-2025. The Company believes that the Project could be mined by open pit mining methods.

Commenting, Chief Executive Officer of Oriole Resources, Martin Rosser, said: "The latest results from hole MBDD012 are some of the best gold mineralised intersections reported to date, both for length and grade; and start from very near surface. Our geological understanding of the deposit continues to grow with the drilling results for each new hole and with it our confidence that Mbe has significant gold resource potential."

Figure 1. Interpretative cross section for fence line N872582 at MB01-S, with selected mineralised intervals from holes MBDD010 to MBDD012; a full interpretation for this line is pending results for hole MBDD013. The fence line is located approximately 15m to the south of trench MBT0015, the results for which are shown in red along the surface trace. It is also noted that artisanal excavations in this trench led to significant gaps in sampling as follows: 94-164m, 169-172m and 174-179m.

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 4,568.90m has been drilled to date, with 15 holes (MBDD001-015) completed and a sixteenth hole (MBDD016) in progress. The Company today reports results for the twelfth hole of the programme (MBDD012), drilled towards the west (270˚). This hole is located to the west of previously reported holes MBDD010 and MBDD011, on infill fence line N872582 that is ~100m north of fence line N872482 (holes MBDD001, MBDD002, and MBDD007-009), and ~100m south of fence line N872682 (holes MBDD003-006). Results have delivered 16 further gold mineralised intersections (Table 1, Figure 2), such as: 21.30m at 1.61g/t Au, including 11.00m at 2.04g/t Au and 4.00m at 2.53g/t Au, and 2.50m at 10.31g/t Au, including 1.50m at 14.70g/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 twelve holes in the programme, MBDD001-012 for 3,617.30m drilled, stands at 196, equating to a discovery rate of approximately one intersection per 18.50m.

Figure 2. Plan for Phase 1 drilling at MB01-S with a selection of best results to date from MBDD001 to MBDD012. Green dots denote holes drilled towards 090 degrees (Grid North) and blue dots are those drilled towards 270 degrees.

Table 1. Calculated intersections from Phase 1 holes MBDD012, 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 5.00m consecutive internal dilution or 35% total internal dilution. True widths are not currently known.

The mineralisation in MBDD012 correlates well with previously reported results, and the style of mineralisation is consistent with the rest of the Mbe deposit, mainly steeply NE-dipping higher-gold grading smoky quartz veins hosted by a quartz feldspar porphyry (QFP) unit, and broader, but lower gold-grading zones associated with the intersection of the NE-dipping (NW trending) and E-dipping structures (approximately N-S trending). The majority of gold mineralised intervals have been reported within 100m of surface, with the potential for higher-grade zones within the broader, lower-grade envelopes, flagged by the 2.50m at 10.31g/t Au intersection that relates to an ~1m-wide quartz-sulphide vein (Figure 3).

Figure 3. Approximately 1m-wide smoky quartz and sulphide vein by a QFP intrusion in MBDD012. Using a 0.20g/t Au lower cut-off, the zone returned 2.50m at 10.31g/t Au, including 1.50m at 14.70g/t Au.

Importantly, the 21.30m at 1.61g/t Au intersection from 2.40m is located approximately 110m to the northwest of previously reported best intersection of 86.50m at 1.36g/t Au from 22.00m in hole MBDD008 (announcement dated 12 May 2025) and, based on the soil results (see Figure 2) would suggest a coherent zone. All holes to date have reported multiple significant (≥0.20g/t Au) intersections; further information including a full list of these intersections can be found in the JORC Table 1 disclosure on the following page of the Company's website: https://orioleresources.com/projects/mbe/.

These results, together with those previously reported from holes MBDD001-MBDD011, have provided further support for the along-strike (north-south) continuity of mineralisation between the three drill fence lines drilled to date, proving the sub-surface continuity of mineralisation over a strike length of over 200m, with a width of up to 400m, and a vertical depth of at least 290m. The system remains open in all directions and at depth.

Results for MBDD013 are expected in late Q2/early Q3 2025, with samples already on their way to Bureau Veritas laboratory in Côte d'Ivoire for fire assay analysis. Once these have been received, 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.

This drilling programme is currently scheduled for completion in Q3 2025, and the Company anticipates publishing an independent consultant's maiden, pit-contained MRE in Q4 2025, which will be estimated in accordance with the JORC code.