Oriel Resources plc (“Company”) (AIM:ORI, TSX:ORL), the dually listed mining and exploration company developing chromium and nickel deposits in Kazakhstan, announces that its Canadian auditors, BDO Dunwoody LLP (“BDO Canada”), have completed their audit of the Company’s financial statements for the year ended December 31, 2005.

On June 30, 2006, BDO Stoy Hayward LLP, the Company’s UK auditors, (“BDO UK”) completed their audit of the Company’s financial statements for the year ended December 31, 2005. The Company filed its unaudited financial statements on SEDAR on that same date. On July 5, 2006 the Company filed on SEDAR its 2005 annual report with its audited financial statements attached. The financial statements were prepared in accordance with United Kingdom Generally Accepted Accounting Principles and were accompanied by an auditor’s report prepared by BDO UK. The audited financial statements were mailed to shareholders on July 4, 2006 in accordance with the extension granted by AIM.

The Company is a designated foreign issuer under Canadian securities laws and as such is exempt from the requirements under Canadian securities laws with respect to the preparation, approval and filing of it annual financial statements and auditor’s report on financial statements if, among other things, it complies with certain foreign disclosure requirements. Canadian securities laws requires that the Company’s financial statements be accompanied by an auditor’s report prepared by an accounting firm that is, at the date of the auditor’s report, a participating firm in the Canadian Public Accountability Board (“Board”) and is in compliance with the restrictions or sanctions imposed by the Board. In order to comply with this requirement, an auditor’s report has been prepared by BDO Canada and filed on SEDAR. BDO Canada finalised their audit report on July 7, 2006 and the financial statements and auditor’s report were filed on SEDAR on that same date.

The Company further announces the grant of 500,000 options (the ‘Options’) to acquire Ordinary Shares under the Company's Unapproved Share Option Plan (the 'Option Plan') at an exercise price of 30.5p, which was determined under the Option Plan rules, to David Swan, the Company’s Finance Director and Company Secretary.

The Options are exercisable as follows:

As to 116,667 Ordinary Shares – July 3 2007;
As to 116,667 Ordinary Shares – July 3 2008; and
As to 116,666 Ordinary Shares – July 3 2009.
Before this grant of the Options Mr Swan held options to acquire 500,000 Ordinary Shares under the Option Plan at an exercise price of 74.5p. He now holds a total of 1,000,000 options.

ENDS
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For further information please contact:

Tania Tchedaeva, Assistant Company Secretary, Oriel Resources Plc
Tel: +44 (0) 20 7514 0590

Gavin Dallas, Marketing and PR, Oriel Resources Plc
Tel: +44 (0) 20 7514 0590

Michael Padley / Michael Spriggs, Bankside Consultants
Tel: +44 (0) 20 7367 8888

Keith Schaefer, Vanguard Shareholder Solutions
Tel: + 1 604 608 0824

www.orielresources.com