Oriel Resources plc is pleased to announce the receipt of the final report on
the preliminary feasibility testwork programme recently completed at the Mintek
facilities in South Africa. Mintek received a six ton representative sample of
nickel ore from the Shevchenko Project area and undertook drying, calcining and
smelting tests on the material. Smelting was performed in their 200kVA DC Arc
furnace with an average feed rate of 65kg/hr of calcined material and at a
furnace temperature of 1600+/-50 degrees centigrade over the period 15 June to
19 June 2004. Optimum conditions were obtained with the addition of 4.5% coal as
a reductant and 9% magnesite as a flux.

After initial warm up and stabilization of the process, nickel grades of the
crude ferronickel product were in excess of 20% with recoveries conservatively
estimated at 89%. Mintek comment that,"under optimum smelting conditions, the
promising grade and corresponding recovery numbers from this small-scale test
should be improved upon". Accordingly, Oriel will be progressing with a large
scale demonstration campaign on a 450 ton sample later in 2004.

Oriel commissioned this preliminary feasibility study on the Shevchenko Project
in June 2004. Mintek and Bateman Metals Ltd of South Africa have been
commissioned as study Project Managers to assess the process parameters and
provide capital and operating costs estimates for the furnace operations. GBM
Minerals Engineering Consultants, UK, have been commissioned to provide capital
and operating costs estimates for the general mine infrastructure elements
including power, gas, water, road and rail access. Wardell Armstrong
International, UK, are providing resource and reserve statements, mine
production schedules, mine capital and operating cost estimates, in addition to
preparing an initial Environmental Scoping Study.

The overall study is proceeding satisfactorily, and the results will be
presented to Oriel during August 2004.

Oriel has completed 6,400m of infill and confirmation core drilling on the main
Shevchenko deposits. In addition, a trial mining programme has moved some 45,000
ton of material, from three locations within the deposit area, and produced a
surface ore stockpile of approximately 14,000 ton. Oriel is in the progress of
taking the 450 ton representative sample from the exposed pits for the
demonstration scale smelting campaign at Mintek to commence Autumn 2004 as part
of the full feasibility study.
Oriel Resources plc holds 90% of Muzbel LLP, the Kazakh legal entity which is
the 100% owner of the Shevchenko Project mining licence.

Executive chairman Sergey Kurzin said today: "We are entering a most exciting
time for the Shevchenko Project and I am confident that with the appointment of
the world renowned pyrometallurgical consultants Mintek in association with
Bateman Metals Ltd, as Project Managers and lead consultants we anticipate
receiving a positive study on our nickel project which will allow us to proceed
to commissioning the preparation of a Definitive Feasibility Study."

For further information on Oriel Resources, please visit our website at
www.orielresources.com or contact:

Sergey Kurzin
svkurzin@orielresources.com
Stephen R Dattels
sdattels@orielresources.com
Oriel Resources Plc
18 Upper Brook Street, London W1K 7PU, England
Telephone +44 (0) 20 7514 0590 Facsimile +44 (0) 20 7514 0591




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