Member Info for Mayo51

It does make you wonder, considering Oriole’s value pre-BCM agreements, why they didn’t buy out Oriole at the time.

Oriole Resources PLC

('Oriole Resources' or the 'Company')

Commencement of Fully Funded Mbe-North Drilling Programme

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 now commenced a 2,950m maiden diamond drilling programme at the MB01-N target (the 'Programme'). The programme follows the recently announced JORC resource of 870,000oz of contained gold at the MB01-S deposit, located 700m to the southwest, and aims to deliver additional Resource ounces for the Project.

Highlights

· A fully funded 2,950m diamond drilling programme, in 13 planned holes, has commenced at the MB01-N target, focused on converting the existing Exploration Target[2], with a range of 15 to 20Mt at 0.77 to 0.94g/t for 370,000oz to 605,000oz of contained gold, into JORC Resources.

· The Programme at MB01-N follows the successful maiden drilling programme at the MB01-S deposit, located 700m to the southwest, which delivered a maiden JORC Inferred Mineral Resource ('MRE') of 24.8Mt at a grade of 1.09g/t Au for 870,000oz contained gold last month.

· The Programme is expected to complete in late Q1 2026.

Excellent, looking forward to going out there for the Ground Breaking Ceremony

Thanks GOH,

Although I'd appreciated that Mbe South only represented circa 8% of the Eastern CLP, Mbe North will bring it up to circa 15%, I hadn't appreciated the growth potential at Bibemi.

As Coyote highlighted yesterday and you mentioned earlier, there are a further 3 targets, Bakassi 2, Lawa East, Lawa West all to be resource defined and all within walking distance of the main complex.

All sounds very promising.

Hi BIKWIK/Hunniford,

Yes, that was basically it, doesn’t really matter and, as Martin said, it was before his time.

Where I was going was that it took 8 months basically to interest and finalise the BCM deals then, I bet BCM are itching to get into the other licences now.

Hopefully, if and when, we’re looking at much better deals regarding potentially increased payments and reduced earn-in percentages.

Anyway, I felt it was all very positive, I would like to see it going down the production route if possible, it seems crazy after all the hard work, discovery, 1st mover advantage, proving the resources, etc, to sell it for $50 to $100/ounce and watch someone else take all the cream.

Hi BIKWIK,

Good to meet you yesterday, glad I returned for the 4pm Oriole's 4pm presentation, excellent post, summed up the presentation perfectly.

It seemed there were only 2 of us, already invested, there yesterday, I'd urge as many as possible to attend any in-person events, it is certainly worthwhile.

The Q & A session, only 2 minutes available in the morning, became more than 30 minutes of a worthwhile discussion in the afternoon, there was nobody on after, where we discussed the following:-

1. Cameroon government, recent elections, stability, etc - as good as it can be.

2. Dealing with government, Mining Agency, local labour, etc - they all want it to work, it brings work, money, taxation, etc- Bibemi's PEA, EIA, ELA, etc - ongoing discussion, negotiations, toing and froing, etc - the granting of the licence obviously brings a degree of certainty.

3. Development of Bibemi Small Mine - clearly Oriole want to do this, it's all about income which would assist in developing other assets - funding issues, possible support from African (possibly Cameroon) banks, Cameroon HNIW, etc

4. We asked about the imminent Mbe-N drilling programme, it seems to be cheaper, more efficient, circa 3,000 metres (Mbe-S was circa 6,000 metres) - presumably considerably cheaper because of reduced set-up costs, the equipment has already been purchased and is there, the drilling team have had a well deserved break and are now returning, etc

5. Possibly, would this mean that future Eastern CLP licences, if partnered, would have reduced earn-in agreements, with Oriole retaining a greater share, as the labour, plant and equipment are already close by.

6. Mbe-S Step Out Drilling to expand the resource - haven't yet decided how much/where but will follow Mbe-N

7. Talked about the drilling progress, i.e. one rig drilling, needed to be like that to eliminate unnecessary abortive drilling costs - the drilling strategy had to be managed to consider the results, via 3D modelling, etc, which all takes time, in terms of future drill locations - obviously if they don't adequately consider the information they are drilling blind and wasting considerable resources and money.

8. Good BCM relationship - Bob had previously said the original BCM agreement took 8 months to finalise, it was before Martin's time but originally BCM were only looking at Bibemi and it was at a very late stage that they also added Mbe.

Anyway, hope this helps, have a good day.

Hi BIKWIK,

I’d agree, Martin came across very well in explaining Oriole to a new audience.

I thought Martin, Claire and Bob all came across well in the October event too, going into greater detail, etc, that being obviously a more already invested Oriole focused audience.

Anyway, it overrun this morning and there was only a couple of minutes for questions, hopefully more later.

Regards,

I was there but I don’t think you were sitting next to me, it was only Martin who presented this time although Bob and Claire were watching.

It’s just undervalued despite gold presence being proven, 1st mover in a new gold jurisdiction, probably not seeing greater value due to lack of certainty, previous exploration, mines, etc

Hi BIKWIK,

Yes, I was there, was in a rush, I think I saw you speaking to Martin, Bob and Claire outside.

I was thinking of trying to get back there for the 4pm session, might try it.

Regards,

Excellent work God, we need more positivity, hoping to get to the Mello London event at Chiswick tomorrow morning, Oriole are on at around 11am

And empty vessels make the most noise

I wouldn’t worry too much, he’s not invested here, his name says it all

Yankee Doodle went to town

A-riding on a pony,

Stuck a feather in his cap

And called it macaroni.

Please refer to the schedule under the heading:-

Directors' participation in the Placing

Regards,

Well done, you’ve just proved it

Hi GG,

I agree, whilst we’re waiting for big news on Senegal and the Bibemi/Mbe Exploitation Licences, we need progression on other fronts.

Hopefully it alleviates funding concerns.

Hopefully the results of it will enable the release of the $1m 1m.oz bonus payment.

Oriole Resources PLC

("Oriole Resources" or the "Company")

BCM Completion Agreement and Fully Funded Mbe-North Drilling Programme

Oriole Resources PLC (AIM: ORR), the AIM quoted gold exploration company focused on West and Central Africa, is pleased to announce that it has signed a completion agreement (the "Completion Agreement") with BCM International ("BCM") in relation to its 2024 earn-in agreements (the "Earn-in Agreements") on the Bibemi and Mbe gold projects in Cameroon. The Completion Agreement includes the approval of a planned 2,950m maiden diamond drilling programme at the MB01-N target (the "MB01-N Drilling Programme"), anticipated to start next month, with a view to adding additional ounces to the recently announced JORC resource of 870,000oz of contained gold on the MB01-S deposit.

Highlights

Completion Agreement Payment Terms

· BCM will pay Oriole US$900,000 in three equal monthly instalments, commencing in November 2025 (the "Cash Payments").

· BCM will also contribute US$300,000 (the "Direct Drilling Expenditure") to the costs of the 2,950m maiden MB01-N Drilling Programme.

· In addition to financing the MB01-N Drilling Programme, the Cash Payments will fund further detailed metallurgical test work at Bibemi, with the balance of the Cash Payments being added to the Company's cash in hand of £0.64 million (US$0.84 million), as of 31 October 2025, for general and administrative costs and further exploration work in Cameroon.

· The receipt of the Cash Payments and the completion of the Direct Drilling Expenditure will meet BCM's financing commitments envisaged by the Earn-In Agreements, and will earn it a 50% interest in both Bibemi and Mbe.

MB01-N Drilling Programme

· A planned 2,950m diamond drilling programme, expected to commence in December 2025, will focus on converting the existing Exploration Target, with a range of 15 to 20Mt at 0.77 to 0.94g/t for 370,000oz to 605,000oz of contained gold, into JORC Resources.

· The MB01-N Drilling Programme follows the successful maiden drilling programme at the MB01-S target, located 700m to the southwest, which last month delivered a maiden JORC Inferred Mineral Resource of 24.8Mt at a grade of 1.09g/t Au for 870,000oz contained Au.

· The MB01-N Drilling Programme is anticipated to complete in late Q1 2026.

Chief Executive Officer of Oriole Resources, Martin Rosser, said: "Having recently reported the excellent maiden JORC resource at MB01-S of 870,000oz of contained gold, we are delighted that, with our partner BCM, we will be moving swiftly to starting the maiden drilling of MB01-N, which has a significant JORC exploration target range with a median of 488,000oz contained gold. In addition, the Completion Agreement with BCM will mean that the next phase of important mineralogical and metallurgical testwork on selected Bibemi representative samples can commence once they are delivered to the independent testing

Ah yes, empty vessels make the most noise

Hopefully it is the election that wad holding back the Exploitation Licences and they can now be released.

I’m sure that will enable a flurry of good news.

I think BCM are the key here, if you look at Martin’s comments in the 25th June 2025 RNS, extract below, they appear to be preparing for a BCM partnership for a potential gold mine.

Commenting, Chief Executive Officer of Oriole Resources, Martin Rosser, said: "We look forward to continuing our positive engagement with the government whilst progressing outstanding technical and preliminary economic studies to enable us to make key decisions, in conjunction with our partner BCM, on the development of a potential gold mine at Bibemi."

I think similar will happen at Mbe and Oriole will be using the remaining CLO licences, of which BCM have no current interest as the carrot to attract them.