Oriole Launches 2,950 m Maiden Drilling Programme at Mbe Gold Project in Cameroon

Oriole Resources PLC has initiated a significant new phase of exploration with the launch of a 2,950 metre maiden drilling programme at the MB01 N target within its Mbe gold project in Cameroon. This development follows shortly after the company announced a maiden JORC compliant mineral resource estimate for the nearby MB01 S deposit, which has strengthened confidence in the broader geological potential of the licence area. By advancing drilling at MB01 N, the company is building strategic momentum across the project and moving closer to establishing a more comprehensive understanding of the gold system at Mbe.

The current programme consists of thirteen carefully designed drill holes that aim to convert the existing exploration target at MB01 N into a defined gold resource. The target itself has been estimated at between 15 and 20 million tonnes, with grades ranging from 0.77 grams per tonne to 0.94 grams per tonne, indicating strong potential for future resource expansion. The company’s confidence in this phase of drilling is underpinned by the recent successful conversion of its exploration target at MB01 S into a formal JORC resource, a milestone that CEO Martin Rosser has described as an important boost to the project’s momentum and technical credibility.

A key factor facilitating this accelerated progress is the fully funded nature of the drilling campaign. The programme is being financed under an agreement with BCM International, a strategic partner with a strong track record in African mining development. Under the terms of this partnership, BCM is positioned to acquire a 50 percent interest in the Mbe licence upon completion of the agreed work commitments. This funding structure not only reduces financial pressure on Oriole Resources but also ensures that the drilling can proceed without delays, with completion expected in late Q1 2026. The partnership also strengthens long term development prospects, positioning the Mbe project for more advanced stages of evaluation in the coming years.

From a wider industry perspective, this new phase of drilling at Mbe carries meaningful implications for the mining sector in Cameroon and potentially for the broader Central African region. A successful conversion of the MB01 N exploration target into a defined gold resource could enhance investor confidence in the region’s mineral potential and attract further exploration capital. Moreover, strategic alliances like the one between Oriole Resources and BCM International may serve as a model for future partnerships that combine technical expertise and financial de risking, thereby supporting stronger and more resilient mining sector growth in Africa.

Mini Glossary

• JORC resource A mineral resource estimate prepared according to the Australasian Joint Ore Reserves Committee reporting standards, widely used for transparency and reliability in mining.
• Exploration target An early stage estimate of the potential quantity and grade of a mineral deposit that requires drilling to confirm.
• Mineral Resource Estimate (MRE) An evaluation of the size, grade, and quality of a mineral deposit based on geological evidence and sampling.
• ** grams per tonne (g/t)** A unit of measurement used in mining to express the concentration of a mineral within ore.
• Funding agreement A financial arrangement in which a partner funds exploration activities in exchange for a future ownership stake.

Editor: Vural Burç ÇAKIR