REG - Oriole Resources PLC - Receipt of US$80,000 from a legacy asset in Turkey

Oriole ResourcesAnnouncement

11/06/2024 07:15

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RNS Number : 8760R  Oriole Resources PLC  11 June 2024

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.

 

** ENDS **

 

For further information please visit www.orioleresources.com
(http://www.orioleresources.com/) , @OrioleResources on X, or contact:

 

 Oriole Resources PLC                                  Tel: +44 (0)20 7830 9650

 Martin Rosser / Bob Smeeton / Claire Bay

 BlytheRay (IR/PR contact)                             Tel: +44 (0)20 7138 3204

 Tim Blythe / Megan Ray

 Grant Thornton UK LLP                                 Tel: +44 (0)20 7383 5100

 Samantha Harrison / Ciara Donnelly / Elliot Peters

 SP Angel Corporate Finance LLP                        Tel: +44 (0)20 3470 0470

 Ewan Leggat / Kasia Brzozowska

 

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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