Oriole Resources Plc · LSE:ORR
Oriole Resources — Corporate Update (October 2026)
21 slides from Oriole Resources's corporate update, October 2026
Slide 1: A High-Quality African Gold Exploration & Development Company
OCTOBER 2026 A HIGH-QUALITY AFRICAN GOLD EXPLORATION & DEVELOPMENT COMPANY
Slide 2: Company summary and leadership
Company summary and leadership BOARD AND MANAGEMENT IN-COUNTRY TEAM MARTIN ROSSER BOB SMEETON CLAIRE BAY ABDOUL MBODJI STEPHEN CHIA CEO CFO Executive Director, Exploration Country Manager, Exploration Manager, Cameroon Cameroon Martin is a Chartered Mining Bob trained as a Chartered Claire is a Char
Slide 3: Why invest in Oriole?
Why invest in Oriole? From Discovery to Quality Assets Highly Positive Outlook Development o Highly prospective geology in o High discovery rate of 135oz/m o Strategic partnerships on Central & West Africa, and first- drilled at Mbe advanced assets, including with mover advantage in Cameroon BCM Int
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 Centred on geologically mobile belt – h
Slide 5: Mbe flagship gold project, Cameroon – significant discovery made
Mbe flagship gold project, Cameroon – significant discovery made o Total Inferred JORC Resources of 1.66Moz Au: • MB01-S deposit 1,300,000oz at 1.01g/t Au1,3 • MB01-N deposit 360,000oz at 1.05g/t Au2,3 o Potential for 100koz pa gold mine based on current Resource o Both resource estimates remain ope
Slide 6: Mbe – JORC Inferred Mineral Resource Estimate for MB01-S
Mbe – JORC Inferred Mineral Resource Estimate (MRE) for MB01-S1 o The MB01-S MRE currently stands at 1.3Moz and remains open laterally and at depth o Grade tonnage sensitivity indicates robustness of the MRE across a range of cut-off grades between 0.2g/t and 0.6g/t Au o Excellent potential to incre
Slide 7: Mbe – JORC Inferred Mineral Resource Estimate for MB01-N
Mbe – JORC Inferred Mineral Resource Estimate for MB01-N1 o MB01-N MRE currently stands at 360,000oz and remains open laterally and at depth o Grade tonnage sensitivity indicates robustness of the MRE across a range of cut-off grades between 0.1g/t and 0.7g/t Au o Next drilling programme will invest
Slide 8: Mbe – development pathway
Mbe – development pathway o Mbe licence is currently undergoing its second renewal for a two-year period, and will be eligible for a further two-year renewal o Maximum four years to complete exploration and development feasibility study work and to submit an exploitation licence application – an est
Slide 9: 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 deposits o Work programmes to recommence in the 2026/2027 field season 9 O
Slide 10: Eastern CLP – Recent surface exploration results
Eastern CLP – Recent surface exploration results1 Niambaram Ndom o Selective rock-chip sampling at Niambaram, Ndom and Pokor returned up to 28.40g/t Au, 17g/t Au, 1.24g/t Au respectively - related to quartz veins and brecciated felsic dykes that show similarities with the Mbe deposits. Further work
Slide 11: Bibemi, Cameroon – Country's first JORC gold resource
Bibemi, Cameroon – Country’s first JORC gold resource o 1.3Mt run of mine (ROM) material over a 7-year period at an average head BZ1-NE grade of 2.09g/t Au for 10koz pa Bakassi Zone 1 o Initial Preliminary Economic Assessment (PEA) indicats an NPV-8% of US$12.8m BZ1-MRE Bakassi Zone 2 and an IRR of
Slide 12: 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 site design o ELA gove
Slide 13: Wapouzé, Cameroon – potential short to mid-term cashflow
Wapouzé, Cameroon – potential short to mid-term cashflow o 32.2Mt JORC Inferred metamorphosed limestone (marble) Resource* with weighted average grades of 50.33wt% CaO, 1.13wt% MgO and 6.06wt% SiO₂. Located next to existing cement operations o High potential to support a multi-decade limestone minin
Slide 14: 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$1,800/oz pit shell)1: Gross* JORC Grade Total c
Slide 15: 2026/2027 Milestones ahead
2026/2027 Milestones ahead o Commence next work programmes and consider conceptual mine development Mbe scenarios o Approval of Exploitation Licence Bibemi o Update PEA based on updated metallurgical testwork o Post Exploitation Licence, complete studies to support mine development o Completion of d
Slide 16: Peer group
Peer group1 Oriole is significantly undervalued relative to peer group weighted average M&I,I EV$/oz of US$55: Enterprise Value (US$) per Contained Ounce in M&I,I2 * 1 Figures are based on data provided by Zeus Capital dated 1 October 2026. Peer group comprises Africa-focused gold companies 2 M&I,I
Slide 17: Summary
Summary o First mover advantage in Cameroon which has had minimal modern exploration o Quality gold prospects and projects in favourable jurisdictions in Africa, the world’s fastest growing gold producing region o Oriole’s current attributable gold resources across all projects is now 1.11Moz o Mbe
Slide 18: 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
Slide 19: APPENDIX: Operating responsibly
APPENDIX: Operating responsibly o Oriole’s ESG is guided by eight of the U.N. Sustainable Development Goals o The Company is focused on sustainable growth with a strong dedication to the environment, good governance and community engagement o Our priorities are ensuring the health and safety of all
Slide 20: 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 21: APPENDIX: Disclaimer
APPENDIX: 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 the Financial Conduct Authority ("FCA") or (ii) an authorise