ORR Oriole Resources Plc

Oriole Resources PLC 

('Oriole Resources' or 'Oriole' or 'the Company')

 Renewal of Eastern Central Licence Package in Cameroon

Oriole Resources PLC (AIM: ORR), the AIM-quoted exploration company focussed on West and Central Africa, is delighted to report that it has received two-year renewals for each of its five gold exploration licences in the Eastern Central Licence Package ('Eastern CLP' or the 'Licences'), located in the Adamawa and North regions of Cameroon. The Licences, held through the Company's 90%-owned subsidiary Oriole Cameroon SARL, represent a contiguous, district-scale land package covering 2,266km² of highly prospective geological terrane.

The Eastern CLP includes the flagship, 80%-owned Mbe licence ('Mbe'), where BCM International Limited ('BCM'), is currently funding up to US$4 million in exploration expenditure to earn up to a 50% interest. A 5,500 metre trenching programme is underway over the MB01 area at Mbe (announcement dated 4 June 2024), with results anticipated in Q3-2024 and a maiden drilling programme anticipated in Q4-2024.

Oriole retains a 90% interest in the other four Eastern CLP licences (Tenekou, Niambaram, Pokor and Ndom), which share a similar geological setting and potential to Mbe.

Chief Executive Officer of Oriole Resources, Martin Rosser, said: "We are pleased to have our Eastern CLP licences renewed and to be undertaking a comprehensive exploration programme on the highly promising Mbe licence. Results from this phase of exploration are eagerly awaited prior to planning and commencing the maiden drilling programme later in the year."

** ENDS **

The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

For further information please visit www.orioleresources.com, @OrioleResources on Twitter, or contact:

Notes to Editors:

Oriole Resources PLC is an AIM-listed gold exploration company, operating in West Africa. It is focussed on early-stage exploration in Cameroon, where the Company has reported a Resource of 375,000 oz Au at 2.30g/t in the JORC Inferred category at its 82.2%-owned Bibemi project and has identified multi-kilometre gold and lithium anomalies within the district-scale Central Licence Package project. BCM International is currently earning up to a 50% interest in the Bibemi and Mbe projects in return for a combined investment of US$1.5 million in signature payments (which has already been received), up to US$8 million in exploration expenditure, as well as JORC resource-based success payments.

At the Senala gold project in Senegal, AGEM Senegal Exploration Suarl ('AGEM'), a wholly-owned subsidiary of Managem Group, has recently completed a six-year earn-in to acquire an estimated 59% beneficial interest in the Senala Exploration Licence by spending US$5.8 million. A review of expenditure and discussions on the formation of a joint-venture company are currently underway. The Company also has several interests and royalties in companies operating in East Africa and Turkey that could deliver future cash flow.