Oriole Resources PLC
('Oriole Resources' or 'the Company' or 'the Group')
Receipt of US$80,000 from a legacy asset in Turkey
Oriole Resources PLC (AIM: ORR), the AIM-quoted exploration company focused on West Africa, is pleased to announce that it has received US$80,000 being the final payment in relation to the Company's interest in the Hasançelebi and Doğala mining projects in Turkey, in accordance with the Company's announcement dated 22 May 2024.
It is intended that the proceeds will be used to fund further exploration work.
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For further information please visit www.orioleresources.com, @OrioleResources on X, or contact:
| Oriole Resources PLC Martin Rosser / Bob Smeeton / Claire Bay
| Tel: +44 (0)20 7830 9650 |
| BlytheRay (IR/PR contact) Tim Blythe / Megan Ray
| Tel: +44 (0)20 7138 3204 |
| Grant Thornton UK LLP Samantha Harrison / Ciara Donnelly / Elliot Peters
| Tel: +44 (0)20 7383 5100 |
| SP Angel Corporate Finance LLP Ewan Leggat / Kasia Brzozowska
| Tel: +44 (0)20 3470 0470 |
Notes to Editors:
Oriole Resources PLC is an AIM-listed gold exploration company, operating in West Africa. It is focussed on early-stage exploration in Cameroon, where the Company has reported a Resource of 375,000 oz Au at 2.30g/t in the JORC Inferred category at its 82.2%-owned Bibemi project and has identified multi-kilometre gold and lithium anomalies within the district-scale Central Licence Package project. BCM International is currently earning up to a 50% interest in the Bibemi and Mbe projects in return for a combined investment of US$1.5 million in signature payments (which has already been received), up to US$8 million in exploration expenditure, as well as JORC resource-based success payments.
At the Senala gold project in Senegal, AGEM Senegal Exploration Suarl ('AGEM'), a wholly-owned subsidiary of Managem Group, has recently completed a six-year earn-in to acquire an estimated 59% beneficial interest in the Senala Exploration Licence by spending US$5.8 million. A review of expenditure and discussions on the formation of a joint-venture company are currently underway. The Company also has several interests and royalties in companies operating in East Africa and Turkey that could deliver future cash flow
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