Oriole Resources Plc · LSE:ORR
Oriole Resources — Investor Presentation (April 2026)
20 slides from Oriole Resources's investor presentation, April 2026
Slide 1: A High-Quality African Gold Exploration & Development Company
A HIGH-QUALITY AFRICAN GOLD EXPLORATION & DEVELOPMENT COMPANY APRIL 2026
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: Why invest in Oriole?
Why invest in Oriole? From Discovery to Quality Gold Assets Highly Positive Outlook Development o Highly prospective geology in o Attributable JORC Resources of o Strategic partnerships on Central & West Africa 0.90Moz advanced assets, including BCM International o Projects have gross gold JORC o Si
Slide 4: Cameroon: Under-explored, major gold discovery potential
Cameroon: Under-explored, major gold discovery potential o Under-explored jurisdiction with good infrastructure, compared to other jurisdictions in Central Africa, and a modern mining code o New frontier for gold mineralisation – strong first-mover advantage o Centered on geologically mobile belt –
Slide 5: Significant gold resource upside potential
Significant gold resource upside potential o Attributable Resources of 0.90Moz1 across three projects o Further increase in gold Resource ounces expected in 2026, through extension of MB01-S with the on-going Step out drilling programme (see slide 10) Current Attributable Oriole Gold Resources and E
Slide 6: Peer group EV/oz and Mbe value upside
Peer group1 Company is significantly undervalued relative to Africa, gold-focused peer group: 450 2 EV/oz US$/oz (M&I, I) 400 350 EV/oz (M&I,I, US$/oz) 300 250 200 150 100 50 0 Mbe Value Upside Case Study – potential to more than double the existing value: Mbe EV Sensitivity US$m MI&I Ounces (Moz) –
Slide 7: Mbe flagship gold project, Cameroon – significant discovery made
Mbe flagship gold project, Cameroon – significant discovery made o Total Inferred JORC Resources of 1.23Moz Au, comprising: • MB01-S deposit 870,000oz at 1.09g/t Au1 • MB01-N deposit 360,000oz at 1.05g/t Au2 o These maiden estimates a based on two phases of drilling completed since November 2024 - 6
Slide 8: Mbe: JORC Inferred Mineral Resource Estimate (MRE) for MB01-S
Mbe: JORC Inferred Mineral Resource Estimate (MRE) for MB01-S1 o MB01-S MRE currently extends over a strike length of 900m, a width of up to 700m, and to a depth of 340m - remains open in all directions and at depth o Grade tonnage sensitivity indicates robustness of the MRE across a range of cut-of
Slide 9: Mbe: JORC Inferred Mineral Resource Estimate for MB01-N
Mbe: JORC Inferred Mineral Resource Estimate for MB01-N1 o MB01-N MRE currently extends over a strike length of approximately 700m, a width of up to 150m, and to a depth of 270m - remains open in all directions and at depth o Grade tonnage sensitivity indicates robustness of the MRE across a range o
Slide 10: Mbe: MB01-S Step out programme
Mbe: MB01-S Step out programme1 o A fully funded, 2,500m (10 hole) step out diamond drilling programme is currently underway at MB01-S o The Programme has been designed to target the potential extensions of the MB01-S system to the south, west, northwest and northeast, and aims to add more ounces to
Slide 11: Eastern CLP – Highly prospective district-scale opportunity
Eastern CLP – Highly prospective district-scale opportunity o Multiple gold-in-soil-anomalies identified in all licences - significant potential for further discoveries o Potential for the Eastern CLP to contain several >1Moz deposit Page 11 11 ORIOLE RESOURCES PLC
Slide 12: Eastern CLP – Recent surface exploration results
Eastern CLP – Recent surface exploration results Niambaram Ndom o Selective rock chip sampling at Ndom returned up to 17g/t Au, relating to NW-SE trending quartz veins that show similarities with the Mbe deposits. Further work programmes are being planned o Soil sampling over gold-in-stream anomalis
Slide 13: Bibemi, Cameroon – Country’s first JORC gold resource
Bibemi, Cameroon – Country’s first JORC gold resource o 2025 updated JORC Resource1 for ‘BZ1- MRE’ zone delivered 23% increase on BZ1-NE 2024 Resource Bakassi Zone 1 o Indicated Resources occur as a unified BZ1-MRE Bakassi Zone 2 block – possible suitable starter pit location BZ1-SW o Upside potenti
Slide 14: Bibemi: Exploitation Licence Application (ELA)
Bibemi: Exploitation Licence Application (ELA) Work completed: Initial optimisation, Provisional mineral mine planning studies, processing flowsheet ELA submitted1 ESIA approval3, suggests 85% gold Preliminary Economic recovery2 Assessment (PEA)4 Work ongoing: Provisional mine design for the 460koz
Slide 15: Senala gold project, Senegal – sought after location
Senala gold project, Senegal – sought after location o Located within prolific gold belt: >40Moz endowment o Drilling results include: 70m grading 1.46g/t and 20m grading 31.13g/t o Maiden JORC-Resource from 2012 drilling of 155,000oz at Faré South (US$1,800/oz pit shell)1: Gross* JORC Grade Total c
Slide 16: 2026 Milestones ahead – multiple triggers for valuation rerating
2026 Milestones ahead – multiple triggers for valuation rerating o Completion of Step out drilling at MB01-S and updated MRE Mbe o Complete buy-out of local partner’s 10% interest o Finalisation of JV Agreement with BCM o Completion of on-going metallurgical testwork o Completion of further technica
Slide 17: Summary
Summary o Holding one of the largest and most prospective exploration areas in Africa, the world’s fastest growing gold producing region o First mover advantage in Cameroon which has had minimal modern exploration o The maiden drilling programmes at Mbe have already made a significant 1.23Moz discov
Slide 18: Company summary and leadership
Company summary and leadership BOARD AND MANAGEMENT EILEEN CARR DAVID PELHAM MARTIN ROSSER BOB SMEETON CLAIRE BAY Independent Non- Independent Non- CEO CFO Executive Director, Executive Chair Executive Director Exploration Eileen is a Chartered Certified David is a mineral geologist with Martin is a
Slide 19: APPENDIX: Competent person’s statement
APPENDIX: Competent person’s statement The Technical Information relating to Exploration Results has been prepared by Claire Bay, EurGeol, CGeol, MIMMM, 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 re
Slide 20: APPENDIX: Cameroon snapshot: A nascent mining country
APPENDIX: Cameroon snapshot1: A nascent mining country Area 475,000 km2 Population ~31 million Official languages French, English Religion Christianity (66.3%), Islam (30.6%), other (3.1%) Currency Central African Franc (CFA) GDP US$51.33 billion Government Unitary dominant-party presidential republ
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