ORI Oriel Res.

RNS Number:8648Q
Oriel Resources PLC
27 March 2008

                                                                        AIM: ORI
                                                                        TSX: ORL
                                                                   PRESS RELEASE
                                                                  27 March, 2008

                 Oriel Resources Plc ("Oriel" or the "Company")

 Oriel Secures US$50 Million Loan for the Continuing Development of the Tikhvin
                       Ferrochrome Smelting Plant, Russia

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Oriel Resources Plc ("Oriel" or "the Company") (AIM:ORI, TSX:ORL) announces the
completion of a US$50 million secured debt facility from Nomos Bank (OJSC),
Russia ("Nomos") which will be provided to Oriel's subsidiaries IPH Polychrom
Holding BV ("IPH") and North West Ferroyalloys and will principally be used for
the short term working capital requirements of the Tikhvin ferrochrome smelting
plant, northwest Russia. This loan has been arranged on commercial terms.

Pursuant to deeds of release dated 22 February 2008, Oriel and Canaccord Adams
released certain of the vendors of IPH (the "IPH Sellers") from the lock-in and
escrow agreements. This was done to facilitate these IPH Sellers pledging their
Oriel Shares to OJSC Khanty Mansiysk Bank (KMB) as security for an inter-bank
credit facility to Nomos Bank of up to US$50 million for the benefit of Oriel.
The deed of release provides that, in the event that the pledge is released and
the lock-in and escrow agreements would still have been effective, each of the
relevant IPH Sellers has agreed to re-enter into lock-in and escrow agreements
on substantially the same terms as the released lock-in and escrow agreements.
On 24 March 2008, KMB agreed to release the pledge upon Mechel OAO making the
offer for the entire issued share capital of Oriel, announced this morning.

The loan bears a coupon of 12% per annum (rising to 14% per annum subject to
changes in the Russian Central Bank re-financing rate at the discretion of
Nomos) and will be fully drawn down by June 2008. The loan is repayable in equal
quarterly instalments, the first instalment to be paid on 25 March 2009.

Details of the IPH Sellers' escrowed shares released are shown below.

Holders of Escrowed Shares           No. of Escrowed Shares      % of Oriel's
                                            Released             Market Value
                                                                                  
A&NN Properties Ltd                        43,569,928               6.84%
Ehud Rieger                                 3,485,594               0.54%
Diana Rieger-Weiss                          3,485,594               0.54%
Shaul Rieger                                3,485,594               0.54%
Total Escrowed Shares Released             54,026,710               8.47%

The escrow period was due to expire on 6 June, 2008.

Alexander Nesis, a Non-executive Director of Oriel, is an 18.2% beneficial owner
of Nomos.

The arrangements constitute related party transactions for the purposes of the
AIM Rules for Companies, as the IPH Sellers include Ehud Rieger (an Oriel
Non-executive Director), Baran-Alrig Limited (a company of which Ehud Rieger is
a Director), Platinum Bow Limited and Polyprom Holdings BV (each of which is a
substantial shareholder of Oriel and the latter of which is beneficially owned
by Alexander Nesis, an Oriel Non-Executive Director). The Oriel Directors (other
than Ehud Rieger and Alexander Nesis, who are considered related parties in
connection with these arrangements) consider, having consulted with Canaccord
Adams, as Oriel's nominated adviser, that the terms of the arrangements are fair
and reasonable insofar as Oriel Shareholders are concerned.

Oriel's Executive Chairman, Dr Sergey V Kurzin commented;

"The US$50 million will cover Tikhvin's short term working capital needs and
plant enhancements which are expected to increase the efficiency of the current
smelting processes."

ENDS

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For further information please contact:

Dr Sergey V Kurzin, Executive Chairman, Oriel Resources Plc
Tel: +44 (0) 20 7514 0590

David Swan, CFO & 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

Robin Birchall / Ryan Gaffney, Canaccord Adams Limited
Tel: +44 (0) 20 7050 6500

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

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