TIDMORR

RNS Number : 0923E

Oriole Resources PLC

25 February 2020

Oriole Resources PLC

('Oriole' or 'the Company')

Disposal of Holding in Tembo Gold Corp.

Oriole Resources PLC, the AIM-quoted exploration company focussed on West Africa, reports that it has sold its 12.27% holding in Tembo Gold Corp., following the sale of 19,975,000 ordinary shares for net proceeds of GBP172,000 by Oriole's wholly-owned subsidiary company, Stratex Gold AG.

The sale supports the Company's previously announced strategy of asset realisation of non-core assets to help fund its ongoing exploration programmes in Cameroon (Announcement dated 14 November 2019). The Company anticipates making a number of further announcements around non-core asset disposals in the coming months.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Following the publication of this announcement, this inside information is now considered to be in the public domain.

** ENDS **

   For further information please visit  www.orioleresources.com ,   @OrioleResources on Twitter,

or contact:

 
 Oriole Resources PLC                  Tel: +44 (0)20 7830 9650 
  Tim Livesey / Bob Smeeton / Claire 
  Bay 
 Blytheweigh (IR/PR contact)           Tel: +44 (0)20 7138 3204 
  Tim Blythe / Megan Ray / Rachael 
  Brooks 
 Grant Thornton UK LLP                 Tel: +44 (0)20 7383 5100 
  Samantha Harrison / Niall McDonald 
 WH Ireland                            Tel: +44 (0)20 7220 1666 
  Adrian Hadden / Darshan Patel / 
  Lydia Zychowska

Notes to Editors:

Oriole Resources PLC is an AIM-quoted exploration company, operating West Africa. It is focused on early-stage exploration in Cameroon (Bibemi and Wapouzé projects) and the more advanced Senala gold project in Senegal, where IAMGOLD has the option to spend US$8m to earn a 70% interest. Year 1 commitments have been met at all three projects. The Company has several interests and royalties in companies operating throughout Africa and Turkey that could deliver future cash flow, and it continues to assess new opportunities in both regions.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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February 25, 2020 09:44 ET (14:44 GMT)

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