Oriole Resources provided an exploration update for its 90%-owned Mbe gold project in Cameroon, where BCM International Limited is currently earning up to a 50% interest in return for USD 1 million in signature payments, of which US$550,000 has already been received, USD 4 million in exploration funding, and future resource-linked success-based payments. Mbe (312km2) is an early-stage project located within the broader 2,266km2 Eastern CLP package of contiguous gold-focussed licences in central Cameroon. In 2022, Oriole completed semi-regional soil sampling (400m by 200m spacing) that identified a c.12.5km-long zone of gold-in-soil anomalism, a series of en-echelon zones that trend east-northeast.

Follow-up work during 2023 identified a cross-cutting (northeast-trending) 3km-long geological zone, MB-01, containing areas of high-grade gold mineralisation within an intensely-altered felsic unit. Results of up to 134.10 g/t Au were returned from surface samples and artisanal workings. On 19 January 2024 the Company signed adefinitive earn-in agreement with BCM International Limited, a well-respected mining and civil engineering contractor, related to an earn-in by BCM on Mbe.

Accordingly, BCMis currently earning up to a 50% interest in return for USD 1 million in signature payments, of which USD 550,000 has already been received, USD 4 million in exploration funding, and future resource-linked success-based payments. To date, the Company has received USD 550,000 in signature payments from BCM, withthe balance of USD 450,000 to be paid on or before 29 February 2024. BCM's due-diligence review over the MB-01 target returned 155 out of 639 samples grading =1 g/t Au, 13 of which have graded =10 g/t Au.

Of these higher-grading samples, best results include 256.74 g/t, 133.44 g/t, 75.09 g/t, 33.66 g/t and 22.89 g/t Au from outcrop sampling, and 25.16 g/t, 23.97 g/t, 9.98 g/t, and 8.75 g/t Au from pit sampling. A further 232 samples graded between 0.20 and 0.99 g/t Au. The team has recently completed structural mapping of the pits (5-10 metres deep and exclusively dug by artisanal miners) and results are being compiled, to help with identifying discrete data populations and therefore the controls on gold distribution.

Infill soil sampling is currently underway at MB-01, at a sample spacing of 100m x 25m, to better-constrain the anomalism there prior to a planned trenching programme in Second Quarter 2024.