Slide 1: Corporate Update
~ORIOLE Corporate Update » RESOURCES PLC MARCH 2021
Slide 2: Disclaimer
DISCLAIMER This presentation and any additional documents handed out at any meeting or provided directly to potential investors (together the “Presentation Materials”) have not been approved by (i) the London Stock Exchange or by any authority which could be a competent authority for the purposes of
Slide 3: Experienced Board and Management Team
EXPERIENCED BOARD AND MANAGEMENT TEAM JOHN MCGLOIN Non-Executive Chairman ▪ Geologist and graduate of Camborne School of Mines ▪ Worked for many years in the mining industry before moving into consultancy ▪ John served as the Chairman and CEO of Amara Mining plc until 2016 when it was sold for US$85
Slide 4: Investment Opportunity
INVESTMENT OPPORTUNITY Oriole has a strong management team and the relevant expertise to deliver value for shareholders ✓ Early-stage gold exploration in Cameroon ✓ First-mover advantage ✓ Cameroonian government promoting foreign investment ✓ Well-connected local partner ✓ Encouraging results to dat
Slide 5: Cameroon Overview - Strong First-Mover Advantage
CAMEROON OVERVIEW - STRONG FIRST-MOVER ADVANTAGE Bibemi • 177km2 licence held by BEIG3’s wholly-owned subsidary Reservoir Minerals Cameroon Sarl • Four key prospects identified over an 8.3km strike length – best results to date include 135.40 g/t Au from selective rock- chip sampling and 9m @ 3.14 g
Slide 6: Bibemi – Bakassi Zone
BIBEMI – BAKASSI ZONE 20km 6.45g/t 6.39g/t 35.5g/t 119.7g/t Zone 2 Zone 1 Detailed geological mapping has identified a complex structural regime of northeast-trending shear zones, extending over a strike length of 5.3km Mineralisation is associated with quartz and quartz- tourmaline veins hosted in
Slide 7: Bakassi Zone – The Importance of Stacked Veins
BAKASSI ZONE – THE IMPORTANCE OF STACKED VEINS Three areas of stacked, mineralised quartz veins have been identified along-strike in Zone 1 – sampling has returned grades of up to 65.3g/t Au from rock-chips and 9m grading 3.14 g/t Au1 from trenching The sub-horizontal geometry reflects strain accomm
Slide 8: Bibemi - Extension of the Mineralised System
BIBEMI - EXTENSION OF THE MINERALISED SYSTEM1 Key Prospects at Bibemi on Magnetics TMI 1VD Reconnaissance mapping to the south-west of Bakassi has identified two new zones, Lawa West and Lawa East The prospects are associated with a northeast-trending structure that has intersected the Bakassi Zone
Slide 9: Bibemi - Maiden Drilling Programme
BIBEMI - MAIDEN DRILLING PROGRAMME1 Capital Limited is currently undertaking a fully- funded maiden drilling programme 28 diamond holes (for 3,080m) are planned to target the depth extension of best grades and zones of stacked quartz veins across four key prospects, namely Bakassi Zone 1, Bakassi Zo
Slide 10: Wapouzé
WAPOUZÉ 20km 8km BATAOL ZONE 2.8km (Image here) Located 20km north of Bibemi 2.2km Gold mineralisation has been identified over a cumulative strike length of 13km at the Bataol Zone Initial soil sampling results (up to 531 ppb Au) identified in three main northeast-trending zones (>10 ppb Au) Infill
Slide 11: Central Cameroon
CENTRAL CAMEROON Contiguous land package of 8 licences covering c.3,500km2, granted in February 20211 • 3 in partnership with BEIG3 (BEIG3’s wholly-owned subsidiary RMC Cameroon SARL) • 5 through new local subsidiary Oriole Cameroon SARL (90%-owned) Licences selected on basis of geological and struc
Slide 12: Central Cameroon
CENTRAL CAMEROON A remote sensing study has identified 12 initial priority gold targets and has interpreted that TBSZ-related structures – a key control for gold mineralisation regionally - cross at least 6 of the licences Regional-scale mapping and stream sediment sampling (for gold and multi-eleme
Slide 13: Senegal Overview
SENEGAL OVERVIEW 472.5 km2 Senala gold licence in highly- prospective & productive Kédougou- Mine/Development Project Kénéiba Inlier (‘KKI’) in eastern Senegal >45 Moz gold endowment1 SENEGAL Sadiola 7.7Moz 20.00m @ 31.13 g/t Au incl. 10.00m @ 60.98 g/t Au; 59.60m @ 2.20 g/t Au; 49.50m @ 1.75 g/t Au
Slide 14: Senala - Golden Corridor
SENALA - GOLDEN CORRIDOR As of March 2018, IAMGOLD is spending US$4M on exploration over 4 years to acquire 51% - option to increase to 70% for further US$4M over 2 years1 SENALA: located within a golden Year 1 and 2 programmes progressed well with work focused on corridor southernmost targets, clos
Slide 15: Faré Prospect – Stand Alone Resource Potential
FARÉ PROSPECT – STAND ALONE RESOURCE POTENTIAL* System hosted by north-east trending shear zone with east-north east cross-cutting structure and a north-west structural corridor Previous programmes have identified multi-gramme intersections close to surface1 Potential to host an open-pittable resour
Slide 16: Senala – Next Steps
SENALA – NEXT STEPS 6,091m AC drilling recently completed at Faré - results (up to 2.58 g/t Au) have confirmed and enhanced previously defined gold-in-soil anomalies across thee main prospects: Faré North, Faré South and Faré Far South1 Year 4 drilling programme to commence shortly for a planned c.U
Slide 17: Other Projects & Cash-Generative Initiatives
OTHER PROJECTS & CASH-GENERATIVE INITIATIVES Oriole is invested in a multiple projects across Africa and Turkey which have the potential for revenue and cash-generation ✓ Potential for revenue from ✓ Non-participating interests in ✓ C.£165k in Research & success-based and construction two African-fo
Slide 18: Financial Results for Past 4 Years
FINANCIAL RESULTS FOR PAST 4 YEARS 2017 2018 2019 2020 Annual results over the 4 year period are impacted by: • One-off items Admin exp -2,442 -1,806 -1,556 -1,018 • Items largely out of the control of management Other -5,060 -741 150 682 Finance income 46 67 5 0 One-off items include: Loss in assoc
Slide 19: Normalised P+L
NORMALISED P+L 2017 2018 2019 2020 P+L to reflect the normal running of the business and take out non-cash costs Admin exp -2,264 -1,708 -1,463 -893 Other -128 -4 149 162 75% reduction in the net running costs of the business -2,392 -1,712 -1,314 -731 since the new Board was appointed in 2018 Financ
Slide 20: Comparison of Net Costs (Normalised)
COMPARISON OF NET COSTS (NORMALISED*) 2500 2000 Turkish team made a net profit after all costs 1500 UK staff costs down 56% over the four years despite ramp up in exploration activities 1000 R&D tax credits netted against ‘Other 500 costs’ as will be recurring 0 2017 2018 2019 2020 -500 UK Complianc
Slide 21: Comparison of Net Costs (Normalised)
COMPARISON OF NET COSTS (NORMALISED*) 2500 2000 Turkish costs impacted by non-cash items (asset write downs and recognition of employment provisions) Start of exploration in 1500 Cameroon UK staff costs down 56% over the four years despite ramp up in exploration 1000 activities 500 R&D tax credits n
Slide 22: Corporate Profile
CORPORATE PROFILE Stock information1: LON:ORR Fully diluted shareholders1 Share o/s 1,561.91M Fully diluted 1,867.58M Directors options under sacrifice Share price 0.90p 2% Other options Market cap £14.41M Directors holdings 2% 1% Cash at 31/12/21 £1.75M* Warrants with accelerator Total debt £0 10%
Slide 23: Upcoming News Flow
UPCOMING NEWS FLOW* Cameroon Results from maiden drilling at Bibemi - late Q1 into Q2-21 Results from pilot trenching programme at Wapouzé Commencement of package-wide mapping and stream sediment sampling at the Central Licences to identify follow-up targets – early Q2 Confirmation of 51% ownership
Slide 24: Contacts
CONTACTS Oriole Resources PLC Tim Livesey +44 (0) 207 830 9650 Bob Smeeton Claire Bay Grant Thornton (NOMAD) +44 (0) 207 383 5100 Samantha Harrison Seamus Fricker Shard Capital Partners LLP (Broker) +44 (0) 20 186 9900 Damon Heath Erik Woolgar Isabella Pierre Blytheweigh (Financial PR) +44 (0) 207 1
Slide 25: Competent Persons Statement
COMPETENT PERSONS STATEMENT The Technical Information relating to Exploration Results and Targets in this presentation has been prepared by Claire Bay, an employee of the Company, who is a Competent Person as defined by the JORC Code 2012 Edition. The information is extracted from various source rep