First Results from MB01-N Drilling

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 gold project in Cameroon ("Mbe" or the "Project"), where it has received the first results from the ongoing 2,950m maiden diamond drilling programme at the MB01-N target (the "Programme").

Highlights

• The first two drill holes at MB01-N have both returned significant gold intersections including:

MBDD026

o 21.70m at 3.13g/t Au from 86.80m, including 7.20m at 8.19g/t Au and containing 1.00m at 42.50g/t Au

o 4.00m at 1.52g/t Au from 41.80m

MBDD025

o 16.20m at 0.77g/t Au from 37.20m, including 10.10m at 1.08g/t Au

• The initial geological and structural interpretation indicates that MB01-N shows many similarities with MB01-S, further supported by the comparable mix of narrow high-grade intervals within wider lower-grade envelopes.
• The high-grade mineralisation is controlled by NNW-trending breccia zones formed by intersecting structures and therefore the mineralised zones within the two holes, which are located approximately 200m apart, may be linked and continuous along strike.
• The fully funded MB01-N drilling programme is approximately 46% complete, with six holes drilled, a seventh underway and is expected to be finished in Q1-2026.

Chief Executive Officer of Oriole Resources, Martin Rosser, said: "Results from the first two holes at the MB01-N target have delivered tremendous substantial widths of gold mineralisation and, as seen at the nearby MB01-S deposit, include some high-grade veins. It is an excellent start to 2026, and we eagerly look forward to reporting results from the next set of holes."

Figure 1. Diamond drilling progress at the MB01-N target with selected best results from MBDD025 and MBDD026. All holes are planned to be drilled towards 270˚ (bearing from grid north) and at an inclination of 50˚. Drilling fence line IDs are in blue text. The data is overlain on gold-in-soil contours, and the 2025 Exploration Target outline is delineated.

The Programme, which commenced in November 2025, has been planned to test the MB01-N target, which is located 700m to the northeast of the MB01-S deposit, where the Company has previously reported a maiden JORC Inferred Mineral Resource Estimate of 24.8Mt at a grade of 1.09g/t Au for 870,000oz contained gold (see announcement dated 21 October 2025).

The programme is progressing well and is currently at 46% completion, with six holes (MBDD025-030) drilled and a seventh (MBDD031) underway. The Company today reports the results from the first two diamond drill holes from MB01-N (MBDD025 and MBDD026). A total of 13 mineralised intersections (Table 1) were returned, with narrow higher-grade zones and wider envelopes of pervasive, lower-grade material, as seen at the MB01-S target. The best example of this is from hole MBDD026, which returned the highest grading individual interval of 1.00m at 42.50g/t Au that sits within a broader zone of 21.70m at 3.13g/t Au from 86.80m downhole depth. In these first two holes at MB01-N, the discovery rate stands at more than one intersection every 15m and all mineralised intervals have been reported within 100m vertical depth from surface. A review of the QAQC samples has confirmed that the data falls within acceptable limits of error.

Table 1. Selected intersections from MBDD025 and MBDD026 using a 0.20g/t Au lower cut-off grade. Results > 1g/t Au are highlighted 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. Stated as drilled widths - true widths are not currently known.

The overall geological and structural controls at MB01-N are similar to MB01-S, with the dominant lithologies consisting of the orthogneiss-amphibolite basement rock, which in turn has been intruded by numerous shear-hosted granitic felsic dykes and late mafic dykes.

The mineralisation is predominantly structurally controlled by post felsic intrusion, shear-related extension and brittle failure that has formed conjugate fracture sets and NNW-trending zones of brecciation, subsequently exploited by gold-rich hydrothermal fluids. The mineralisation typically occurs within steeply dipping shear corridors, with mineralisation enhanced by brittle failure of the felsic intrusions.

Figure 2. Simplified cross section of fence line N874091 with results from MBDD026 and interpreted mineralised zones. PMBDD032 is a planned hole that is yet to be drilled.

Figure 3. Drill core for the highest grading interval, 1.00m at 42.50g/t Au, showing intensely brecciated felsic dyke with sulphide/telluride mineralisation.

Figure 4. Simplified cross section of fence line N874318 with results from MBDD025 and interpreted mineralised zones. MBDD029 has been drilled but results are pending.

MB01-N has a JORC Exploration Target of 15Mt to 20Mt at 0.77 to 0.94g/t Au for 370,000oz to 605,000oz contained gold, and offers significant upside to the total JORC Resource potential of the Mbe project. The Programme has been designed to maximise conversion from an Exploration Target to JORC Resource.

Upon completion of the Programme, targeted for late Q1-2026, the Company's partner BCM International Limited will acquire a 50% interest in the Mbe licence.

Background on Mbe

Mbe, with a licence area of 312km2, is an orogenic gold project located within the broader 2,266km2 'Eastern CLP' package of five contiguous gold focused exploration licences in the Adamawa Region of central Cameroon. Since 2022, the Company's systematic exploration programmes have identified four geochemical targets, MB01-MB04.

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 and was completed in September 2025 for 6,828.40m in 24 holes. Best drilling results included 86.50m at 1.36g/t Au from 22.00m, including 39.40m at 2.00g/t Au (hole MBDD008), 21.30m at 1.61g/t Au from 2.40m (MBDD012) and 6.15m at 19.67g/t Au from 113.50m, including 1.00m at 119.10g/t Au (MBDD019). In October 2025, a maiden MRE was published for the MB01-S deposit of 870,000oz at 1.09g/t, using a US$3,200/oz gold price and a cut-off grade of 0.40g/t Au. Mineralisation at MB01-S remains open in all directions and at depth.

At the MB01-N target, approximately 700m to the northeast of MB01-S, an Exploration Target range of 15Mt to 20Mt at 0.77g/t to 0.94g/t Au for 370,000oz to 605,000oz contained Au was published in July 2025, based on trenching data and the interpretation of geophysical and geochemical anomaly maps. The Exploration Target remains open in all directions and at depth, and it is anticipated that drilling of the target will result in a conversion to Resource ounces. A planned 2,950m drilling programme was commenced in November 2025 and is scheduled for completion in late Q1 2026.

[1] Oriole is currently undertaking a restructuring process that, once completed, will see it increase its holding from 80% to a 90% interest in the Project (announcement dated 17 October 2024). Upon completion of the earn-in by BCM International Limited, Oriole will then revert to a 50% interest in the Project.