Drilling Report

RNS Number:9084F
Oriel Resources PLC
02 December 2004


                                                                       AIM : ORI
                                                                   PRESS RELEASE
                                                                December 2, 2004

Oriel Receives First Round of Drill Hole and Trench Assay Results from the Kupol
                           Gold Project, Urup Island.

Dr Sergey V Kurzin, the Chairman and CEO of Oriel Resources PLC ("Oriel") said
today "we are pleased to announce the initial results of Oriel's exploration and
drilling campaign for the 2004 season on the Urup Project in the Kuril Islands.
The campaign was completed despite inclement weather conditions, permitting
issues and the necessity to set up a mining camp on an uninhabited island. As a
result drilling did not commence until late August 2004."

During the limited seasonal campaign 15 drill holes were completed and the
assays for the first two drill holes received so far are shown below in addition
to the assays for the first two of the 9 trenches completed.

The results from the first 271 samples of the 2004 drilling and trenching
program at Kupol during the summer, which was completed in September, are as
follows:

Hole ID   Type                   From m    To m         Interval      Au g/t

KPDD1     Drill Hole             2.6       58.4         55.8          3.97
  KPDD1       includes           3.6       28.1         24.5          6.45
  KPDD1       includes           9.6       16.8         7.2           11.7

KPDD2     Drill Hole             0.8       17.8         17            2.0

KPTR6     Trench                 0         19.8         19.8          15.5
  KPTR6       includes           0         6            6             30

KPTR8     Trench                 0         17           17            5.3
  KPTR8       includes           0         6            6             9.24

The 2004 field program comprised the following work,

   * 604m of channel sampling from 9 separate trenches (633 samples).
   * 15 diamond drill holes with a total length of 2,015.25m (1,656 samples)
   * Detailed geological mapping and ground geophysics.

The mineralized body at Kupol had been interpreted by the Sakhalin Geological
Institute as a +150m long by 50m wide mineralized body dipping at approximately
65 degrees to the east, and interpreted as extending to a depth of 100m or more
below the surface. However, as a result of the geological mapping and drilling
completed during the 2004 program, Oriel has reinterpreted the mineralized body
as being a relatively flat-lying 10 to 20m thick zone, covering an area of
approximately 150 by 100 metres, bounded along the west side by sea-cliffs.
Since the intensity and grade of mineralization increases to the west, we
interpret this as indicating that the bulk of this particular deposit has been
eroded away. In view of this reinterpretation, Oriel has decided to pause the
2004 drilling program at 2,015 metres total length to allow Oriel to re-evaluate
the Project once all the assay data becomes available in February 2005.

The original 70 square kilometre licence area has approximately ten additional
exploration targets which will be evaluated beginning in 2005.

The Chairman and CEO, Dr Sergey V Kurzin said, "We are very encouraged that our
original thoughts on the high grade, open pittable nature and good thickness of
this deposit have been confirmed. However, the tonnage potential may be more
limited than we originally thought, but reinterpretation has allowed us to
identify high quality targets in the licence area for next season.

For further information, or to download the entire press release, please visit 
our website at www.orielresources.com or 
contact:

                                Sergey V Kurzin
                          [e-mail]

                               Stephen R Dattels
                          [e-mail]

               18 Upper Brook Street.  London W1K 7PU  England
         Telephone [phone] Facsimile [phone]

                  Issued by Britton Financial PR 020 7251 2544




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