Oriole Resources plc Further Mineralisation at MB01-S Gold Deposit

Oriole Resources PLC (LON:ORR), the AIM quoted gold exploration and development company focused on Central and West Africa, has announced further results from the recently completed step-out diamond drilling programme (the “Programme” or “Phase 3”) at the MB01-S deposit at its 50% owned Mbe orogenic gold project (“Mbe” or the “Project”) in Cameroon.  The total JORC Inferred Mineral Resource Estimate (“MRE”) at Mbe currently stands at 1.23 million oz contained gold (“Au”) across both the MB01-S and MB01-N deposits.  The results reported today underpin the potential for an increase in the resource at MB01-S when the updated MRE is published later in Q3.

Highlights

·    Results for holes MBDD045 to MBDD047 have returned 34 mineralised gold intersections, including:

o  MBDD045

▪    6.00m at 2.41g/t Au from 84.60m depth, including 1.00m at 13.00g/t Au

▪    4.00m at 2.73g/t Au from 32.40m depth, including 1.00m at 8.42g/t Au

▪    4.00m at 1.68g/t Au from 63.50m depth, including 1.00m at 2.73g/t Au and 1.00m at 2.65g/t Au

▪    4.00m at 0.84g/t Au from 76.60m depth, including 1.00m at 2.80g/t Au

▪    6.00m at 0.64g/t Au from 136.80m depth, including 1.00m at 1.78g/t Au

o  MBDD047

▪    3.00m at 4.16g/t Au from 123.30m depth, including 1.00m at 12.00g/t Au

▪    4.00m at 2.43g/t Au from 52.30m depth, including 1.00m at 6.65g/t Au

▪    1.00m at 5.37g/t Au from 216.50m depth

o  MBDD046

▪    7.30m at 0.48g/t Au from 23.10m depth

·    Hole MBDD045 was drilled into the westernmost soil anomaly at MB01-S and has underpinned the depth extension of mineralisation over that area.    

·    Mineralisation in MBDD047 correlates well with key mineralised intervals previously reported for holes MBDD024 and MBDD044, with that north-west trending zone extending over a 300m strike length.

·    Results for the two final holes, MBDD048 and MBDD049, are awaited.  Once received, an updated MRE for MB01-S will be prepared for publication in early Q3-2026.

Chief Executive Officer of Oriole Resources, Martin Rosser, said: “The latest batch of step-out drilling results for MB01-S have returned yet more encouraging mineralised intersections which provide support for a westward and southward extension of the deposit.  We hope that this should lead to an expansion of the current MRE for MB01-S when it is reported later in Q3.  We eagerly await the results from the remaining two holes in the Programme so that the independent geological consultant can complete the remodelling work.”

Figure 1. Plan view of MB01-S showing the step-out programme drill hole collar locations, selected best results from MBDD045 to MBDD047, previously reported best intersections from MBDD040 to MBDD044, drill collars from Phase 1 drilling and gold mineralised wireframes for the current 870koz Au MRE within a US$3,200/oz pit shell.

Further Details

Last month, a step-out diamond drilling programme at the MB01-S deposit was completed for 2,476.80m in 10 holes (see announcement dated 08 June 2026).  It was designed to expand the existing 870,000oz contained gold JORC MRE at MB01-S, by testing the potential extension of the mineralised system.  All holes were drilled towards the west (at an azimuth of 270˚) and at an inclination of -50˚ degrees, therefore in the same orientation as the majority of holes in the Phase 1 drilling programme (see announcement dated 2 September 2025).

The Company today reports results for holes MBDD045 to MBDD047, which targeted the western and southwestern extension of MB01-S.  MBDD045 was completed on existing fence line N872382 (approximately 230m west of the previous drilling, and 90m southwest of Phase 1 hole MBDD024).  MBDD046 and MBDD047 were drilled on a new fence line, N872306, the southernmost fence line to date.

Table 1. Calculated intersections from Phase 3 holes MBDD045 and MBDD047, using a 0.20g/t Au lower cut-off grade.  Results greater than 1.00g/t Au are in bold and ‘including’ intervals are in bold italics.

All holes returned gold-mineralised intersections, related to sulphide-telluride veinlets and breccias, with the best grades being from MBDD045 and MBDD047.  Both holes continue to demonstrate narrow higher gold grade zones within wider envelopes of lower grade mineralisation, for example 6.00m at 2.41g/t Au, including 1.00m at 13.00g/t Au (MBDD045), and 3.00m at 4.16g/t Au, including 1.00m at 12.00g/t Au (MBDD047).  They are expected to extend the limits of the current MRE to the west and south respectively.

Figure 2. Core box photograph showing the higher grading portions of the 6.00m at 2.41g/t Au intersection from hole MBDD045, and the 3.00m at 4.16g/t Au intersection from hole MBDD047.  The red lines on the core mark the start and finish of the respective mineralised intervals.

Figure 3. Simplified cross section of fence line N872382, with newly reported results from MBDD045.  Previously reported best results from holes MBDD021 to MBDD023 and trench line MBT009 are also presented.  MBT009 is located approximately 50m south of the fence line.

Figure 4. Simplified cross section of fence line N872306, with newly reported results for holes MBDD046 and MBDD047.  Previously reported best results from trench line MBT009, located approximately 10m north of the fence line.  Final interpretation of this fence line is subject to receipt of the results from holes MBDD048 and MBDD049.

MBDD045 was drilled through a zone of mineralisation that previously only had trenching data and the results have therefore underpinned the depth extension of mineralisation over that area.   

Mineralisation in MBDD046, albeit limited, potentially represents the along-strike extension of mineralisation previously reported in MBDD023 (100m to the northwest; see announcement dated 22 September 2025).  Likewise, MBDD047 likely represents the along-strike extension of mineralisation in MBDD024 (which reported 29.80m at 0.79g/t Au from 116.90m, including 13.70m at 1.36g/t Au; see announcement dated 22 September 2025), located 100m to the northwest, and indeed MBDD044, located 200m to the northwest, which earlier this month returned 27.20m at 1.69g/t Au from 96.00m depth, including 6.00m at 5.81g/t Au, 1.00m at 2.19g/t Au and 1.00m at 2.09g/t Au (see announcement dated 8 June 2026). 

As previously announced, the MRE wireframes will be rotated from a N-S to NNW-SSE orientation (see announcement dated 08 June 2026), as a result of more structural data since the maiden MRE.  In this context, the northwest trending zone linking holes MBDD044, MBDD024 and MBDD047 extends over an approximate 300m strike length.

Results for the remaining two holes in the Programme are anticipated early this month.  Thereafter, Oriole will engage its independent consultant to prepare an updated JORC MRE for the deposit, which currently stands at 870koz contained Au and remains open in all directions, with the publication of the updated MRE expected in early Q3-2026.  Any increase to this MRE will also increase the current 1.23Moz total resource base at Mbe.

Further information can be found in the Mbe JORC Table 1 disclosure on the following page of the Company’s website: https://orioleresources.com/projects/mbe/ 

Competent Persons’ Statement

The information in this announcement that relates to the MREs are based on data compiled by Robert Davies, EurGeol, CGeol, an independent consultant to Oriole.  Mr Davies is a Director of Forge International Limited.  Mr Davies has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the JORC Code.  Mr Davies consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.  The Company confirms that it is not aware of any new information or data that materially affects the MREs, and that all material assumptions and technical parameters underpinning the MREs continue to apply.

The technical information in this release that relates to exploration results and any planned exploration programme(s) has been compiled by Claire Bay (Executive Director).  Claire Bay (MGeol, CGeol) is a Competent Person as defined in the JORC code and takes responsibility for the release of this information.  Claire has reviewed the information in this announcement and confirms that she is not aware of any new information or data that materially affects the information reproduced here.