Can you share some recent highlights from the drilling campaign at the Bibemi gold project in Cameroon?

Certainly. Cameroon is a relatively new district for gold exploration, and we are proud to be pioneers in identifying and verifying new areas of gold mineralization in the country. At the Bibemi gold project, we conducted a maiden drilling program in the past year, which has been highly successful. More than half of the initial prospecting holes intersected orogenic-type gold mineralization, providing depth continuity to multiple targets within the 8.3 km-long system identified at the surface.

Oriole Resources, together with its partner BEIG3, recently received approval for a package of eight licenses in the center of Cameroon. Can you provide more details about this milestone?

In February 2021, we obtained a significant license package in the central region of Cameroon, known as the Central License Package (CLP). This package includes eight licenses covering a total area of 3,592 km2. We have already completed the first phase of work on five of the licenses, and once the rainy season is over, we will resume work on the remaining three licenses in the fourth quarter of this year. Our work primarily involves early-stage stream sediment sampling to identify gold anomalies, but we also conduct multi-element analysis to explore the presence of other minerals. So far, we have received the gold results for two of the five licenses sampled, and we have identified anomalous gold in the streams of both licenses.

Can you provide an update on the latest developments of the Senala License in Senegal?

In Senegal, we have been actively working with our partner IAMGOLD on the joint venture for our landholding at Senala. This year, IAMGOLD has conducted drill tests on two main target areas: Faré in the north of the license and Madina Bafé in the south. At Faré, they have completed diamond and reverse circulation drilling, which has led to the identification of new mineralized zones at the Faré North and Faré Far South prospects. This drilling has also confirmed some of the mineralization we had previously identified at Faré South. Based on this data, we were able to publish a preliminary mineral resource estimate for the Faré South deposit under the JORC code. The estimate indicates an exploration target of 280,000 ounces and an inferred resource of 155,000 ounces, with the potential for expansion along strike and at depth.

IAMGOLD is also actively drilling the Madina Bafé prospect in the south, and they have already received positive results from diamond drilling. The close proximity of Madina Bafé to IAMGOLD’s Boto project could potentially position it as a satellite deposit.

How have investors’ perspectives on Cameroon changed in recent months?

The government of Cameroon has been actively working to attract external investment into the mining sector, and their efforts have been yielding positive results. We have witnessed a significant increase in the number of license applications from both junior and larger mining companies, indicating growing interest in the country. Notably, the multinational mining company Eramet recently applied for a five-license package. Overall, our experience in Cameroon has been highly positive, and we have received strong support from our investors who appreciate our pioneering role in this new frontier.

What are Oriole Resources’ priorities for the next 2-3 years, and do you have a final message?

While Senegal presents a great opportunity, our focus in the immediate future is on developing our projects in Cameroon. This country represents a brand-new frontier for gold exploration and mining, with tremendous potential. Our Central License Package in Cameroon has the potential to become an entirely new gold district, given the ample space available and indications of multiple deposits. Our existing projects in the north, such as Bibemi and Wapouzé, have already demonstrated the presence of an orogenic gold system with favorable grades and significant depth extent. Our goal is to further develop these targets and, if results continue to be positive, work towards establishing preliminary mineral resources. Additionally, we are exploring avenues to unlock value from our legacy assets in East Africa and Turkey within the wider Oriole company. We are excited about the prospects ahead and appreciate the support of our stakeholders as we continue to advance our projects and create value in the mining industry.

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