Oriel Resources plc (the “Company”) is pleased to announce it has completed the acquisition of the Voskhod chrome deposit (the “Acquisition”). Application is being made for admission to trading on AIM of the 9,181,352 shares (“Consideration Shares”) in the Company issued in part consideration for the Acquisition. Although admission of the Consideration Shares to trading on AIM is expected to occur on 11 February 2005, these shares will be subject to the lock up and orderly marketing arrangements as set out in the announcement of 19 January 2005.

Application for admission to trading on AIM of the 26,500,000 shares being issued in connection with the placing also has been made and is expected to become effective today, 8 February 2005. A further announcement concerning the admission to trading on AIM of the warrants included in the placing will be made in due course. The warrants will not initially be traded on AIM but an application is expected to be made for admission following the preparation of an AIM admission document.

Enquiries to:

Oriel Resources plc

Dr Sergey V Kurzin, Chairman & CEO
Dr Nic Barcza, Director of Technology
Tel: +44 (0)20 7514 0590

Canaccord Capital (Europe) Limited
Robert Finlay
Tel: +44 (0)20 7518 2775

Britton Financial PR
Tim Blackstone
Tel: +44 (0) 7957 140 416

THE INFORMATION CONTAINED HEREIN IS NOT FOR PUBLICATION OR DISTRIBUTION INTO THE UNITED STATES. THE MATERIAL SET FORTH HEREIN IS FOR INFORMATIONAL PURPOSES ONLY AND IS NOT INTENDED, AND SHOULD NOT BE CONSTRUED, AS AN OFFER OF SECURITIES FOR SALE INTO THE UNITED STATES. NEITHER THE SECURITIES OF THE COMPANY DESCRIBED HEREIN NOR THE SECURITIES INTO WHICH THE SECURITIES DESCRIBED HEREIN ARE EXERCISABLE HAVE BEEN AND WILL NOT BE REGISTERED UNDER THE US SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR THE LAWS OF ANY STATE OF THE UNITED STATES, AND MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES, EXCEPT PURSUANT TO AN EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND APPLICABLE STATE LAWS. THERE IS NO INTENTION TO REGISTER ANY PORTION OF THE OFFERING IN THE UNITED STATES OR TO CONDUCT A PUBLIC OFFERING OF SECURITIES IN THE UNITED STATES.

THE INFORMATION CONTAINED HEREIN SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY, NOR SHALL THERE BE ANY SALE OF THE SECURITIES REFERRED TO HEREIN, IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION, EXEMPTION FROM REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAW OF ANY SUCH JURISDICTION.