Wapouzé

Wapouzé (88 km²) is located 20 km north of Bibemi, in a similar geological setting. Following a review of the historical data in 2022-2023, the Company determined that gold prospectivity at Wapouzé was lower than that at the Group’s nearby Bibemi project. However, it highlighted the potential for cement-quality limestone within the licence area.

Oriole submitted a formal request for a change of substance at the Wapouzé licence area from gold to industrial minerals, and as of February 2025 the licence has been renewed for a further term of two years, with an approved work programme focused on limestone exploration.

Oriole will now look to secure an industry partner that will advance Wapouzé towards resource definition, development and exploitation on an expedited basis.  Oriole is ultimately looking to achieve royalty-based income from a commercial scale quarrying operation, likely to be based upon the volume of material extracted, which would provide valuable in-country revenue that could be used for funding some of its exploration in Cameroon.

The presence of metamorphosed limestone (or marble) within the licence area was confirmed during the geological mapping of the north-eastern corner of the licence. Since the change in commodity in 2023, a total of 157 rock chip samples have been collected across the licence area, targeting limestone lithologies. Of these 167 samples, 21 returned elevated MgO (>5 wt%), and were therefore considered dolomitised, the remaining 146 all returned low MgO (< 5%wt), low SiO₂ (<1.5 wt%), and high-CaO (>50wt%), suitable for use in cement production.

Ahead of a planned diamond drilling programme a detailed geological mapping programme to revised the surface geology and ground-truth collar locations delineated NE-SW trending marble outcrops within wider zones of sub-crop and float, previously mapped at 4,420,000m².

A maiden diamond drilling programme, has recently been completed at 1,053.80m in 21 holes. The programme was designed to target the depth continuity of the in-situ limestone observed at surface, which were typically steeply dipping (60 – 80°) to the southeast. Holes were drilled at 320° azimuth and an inclination of -50° to depths of between 26.50 and 62.00m, targeting the shallow (<47.50m) vertical depth of the units. The intersected true widths of the marble package is up to ~80m (based on drilling to date, apparent width of ~85m).

The marble units were the predominant lithology encountered in all of the diamond drill holes, hosted within a metamorphosed sequence of meta-volcaniclastics and locally cross-cut by narrow metamorphosed intrusive dykes that exhibit schistose textures . Direct portable XRF measurements of the core indicate comparable chemistry to the high-CaO rock chips, but lab based XRF results are awaited to confirm the data.

The Company has engaged it’s local partner BEIG3 to complete a ground based geophysical resistivity survey over the main outcrops mapped to date. The survey remains on-going as of late July 2026. Together with the drilling, historical marble exploration, and the geophysics, the Company anticipates will support the estimation of a maiden MRE and/or a JORC Exploration Target for the Property in H2-2026.

In Q1-2021, the Company completed a 150m pilot trenching programme for three trenches (WPT001 to WPT003) across a small portion of the 8km-long anomaly. However, the programme did not return any significant intersections and so in Q4-2021, a further five trenches (WPT004 to WPT008) were completed for 2,524m. Four of the trenches were planned to test the anomaly either side of the pilot trenches, at a regional spacing of 500m to 1km, whilst the fifth trench was designed to test the centre of the parallel 2.8km-long anomaly. All trenches were orientated towards 130 degrees. The results reported today have confirmed anomalous gold (using a 0.10 g/t Au cut off) in all trenches, with a best intersection of 2.00m grading 4.06 g/t Au reported in WPT007.