Oriole Resources Raises £1.8m to Boost Gold Exploration in Cameroon

Oriole Resources has strengthened its exploration momentum in Cameroon after raising 1.8 million pounds through a share placing to support an intensive work programme scheduled for the 2025 and 2026 field seasons. This funding round reinforces the company’s financial position and provides a solid foundation for accelerating resource growth across its gold portfolio. With renewed capital and a clear exploration strategy, Oriole is positioning itself to unlock the full potential of its licences and improve its long term market valuation.

The share placing involved the issuance of 750 million new shares and is designed to finance a range of high priority field activities. Key components of the 2025 programme include step out drilling at the MBO1 S target on the Mbe licence, extensive soil sampling across the Eastern CLP licences, and continued technical studies at the Bibemi project. These workstreams aim to refine geological models, validate continuity of mineralisation, and generate new drill ready targets. The company is also launching an additional retail offering that could raise up to 200,000 pounds, ensuring broader shareholder participation and further liquidity for the planned campaigns.

A major objective of the 2025 field season is the conversion of Oriole’s current Exploration Target of 370,000 ounces to 605,000 ounces into formal JORC compliant Resources. Achieving this milestone would mark a significant step toward de risking the projects and enhancing their commercial attractiveness. In 2026, the focus will shift to major step out drilling at MBO1 S, where mineralisation remains open in all directions, offering strong potential for lateral and depth extensions. Combined with ongoing technical studies, these activities are expected to materially increase Oriole’s overall resource inventory and strengthen its competitive position in the regional gold exploration space.

The company reports improved financial health following its completion agreement with BCM, which has contributed to a more stable balance sheet and supported strategic planning for multi year exploration. By pursuing systematic drilling, geochemical surveys, and geological modelling across its Cameroon portfolio, Oriole aims to deliver sustained resource growth, expand its discovery footprint, and drive an uplift in market valuation. The new capital also ensures operational continuity during a period of heightened exploration activity, positioning the company to capitalize on positive results as they emerge.

In the broader context, Oriole’s accelerated programme could contribute positively to Cameroon’s developing gold sector by enhancing geological understanding, attracting further investment, and supporting the gradual evolution of the country’s exploration and mining ecosystem. Success across these projects has the potential to strengthen Cameroon’s presence in Africa’s mining industry, expand its resource base, and generate new economic opportunities through future mine development.

Mini Glossary

• Step out drilling: Drilling conducted outside existing discovery areas to test the extent of mineralisation.
• Soil sampling: Collecting soil for geochemical analysis to identify areas with elevated mineral content.
• Exploration Target: An estimate of potential mineral quantities based on limited data.
• JORC Resources: Mineral resources reported under the JORC Code, a global standard for reporting exploration results.
• Mineralisation open in all directions: A geological indication that the deposit may extend laterally or deeper beyond current drilling.