Extension of Warrant Expiry Date

Oriole Resources PLC (AIM: ORR), the AIM quoted gold exploration company focused on West and Central Africa, announces the extension of the term to expiry of 152,777,778 of the remaining warrants over the same number of ordinary shares in the Company (the 'Warrants'), such Warrants being issued to participants in the June 2022 equity financing as announced on 29 June 2022.

The Warrants, exercisable at 0.25 pence per share, were due to expire on 13 July 2025. The Board has granted an extension of the life of the Warrants to 13 January 2026 at the same price of 0.25p per share and has sought and been given approval for this extension, as required, by more than 75% of the Warrant holders. No other conditions relating to the Warrants have been amended.

Two of the Company's Directors, Eileen Carr and Robert Smeeton, respectively hold 1,611,111 and 3,166,666 warrants that are potentially impacted by this change in the Warrant terms. Both Directors recused themselves from voting on the change in terms, and have agreed that their own warrant holdings shall lapse on 13 July 2025.

The Warrants are also subject to an accelerator provision, such that if at any time during the duration of the Warrants the 10 day volume weighted average price of Oriole ordinary shares exceeds 0.60 pence per share, the Company may give Warrant holders notice to exercise their Warrants within 10 business days following the Company's notice and to pay the exercise price in full within 15 business days following the Company's notice, failing which the Warrants will automatically expire.