Awalé Provides Progress Update for Odienné Project

HIGHLIGHTS

Completed 2,014m scout RC drill program across 22 holes over high-priority geochemical and IP anomalies at the 100%-owned Fremen target, with initial results expected in April 2025.
Completed a 150-line-km IP geophysics survey covering over 15km of strike along the BBM trend, with final processed images expected in March 2025.
Commenced up to 4,000m of RC drilling on the BBM extensions, with initial results expected in April/May 2025.
Completed 6,380m of DD across 22 holes and one re-entry hole at BBM.
Continuing with 2,500m of DD in 10 holes at Charger, testing the fold model, with results expected in April/May 2025.
Completed 1,168m of DD in 6 holes at Empire, targeting the top 120 vertical metres to increase confidence in the structural model, with results expected in April/May 2025.
Preparing to commence drill program at Lando, with a plan for 5 DD holes for 1,000m and 20 RC holes for 1,600m.

Awalé Resources Limited (TSXV: ARIC) (‘Awalé’ or the ‘Company’) is pleased to provide an update on its exploration activities at the Odienné Project (‘Odienné’ or the ‘Project’) in Côte d’Ivoire (Figure 1). At the start of the year, the Company set an ambitious work program that included commencing drilling at its 100%-owned Fremen property, advancing de-risking efforts at the BBM and Charger targets, resuming work on the Empire and Lando targets, and expanding its regional exploration focus to unlock the full potential of Odienné.

Andrew Chubb, CEO of Awalé Resources, commented: ‘With multiple active exploration fronts, Awalé remains committed to delivering consistent updates and advancing its high-grade gold-copper targets at Odienné. Most recently, the completion of 2,014m of drilling at the 100%-owned Fremen target and geophysics along the BBM trend mark another important milestone in our systematic exploration approach to unlocking the potential of the Odienné Project. We look forward to updating the market as results become available and as we continue advancing exploration of the Odienné Project.’

Current Target Summary

Fremen Target (100% Awalé)

Completed 2,014m scout reverse circulation (‘RC’) drill program across 22 holes over high-priority geochemical and IP anomalies (Figure 2), with initial results expected in April 2025.

BBM extensions

Commenced up to 4,000m of RC drilling on the BBM extensions, targeting key structural trends identified from previous drilling and geophysical surveys, with initial results expected in April/May 2025.

BBM trend

Completed a 150-line-km Induced Polarization (‘IP’) geophysics survey covering over 15km of strike along the BBM trend, extending from the Fremen target in the southeast to the recently identified Boba and Fett targets in the north (Figure 3), with final processed images expected in March 2025.

BBM Target

Completed a total of 6,379.9m of diamond drilling across 22 holes and one re-entry hole, with pending assay results from 18 drill holes.
Results continue to meet expectations, returning robust gold and copper mineralization with consistent broad width and grade and further confirming the continuity of mineralization at BBM and its potential as a significant near-surface resource.

Charger Target

Drilling continues with 2,500m of DD in 10 holes, testing the fold model, which has previously returned 57m @ 26 g/t Au in hole OEDD-83 and 59m @14.7 g/t Au in OEDD-100. Eight holes have been completed, with results expected in April/May 2025.

Empire Target

Empire was the Company’s first high-grade gold discovery, with previous results including 15m @ 13.1 g/t Au in hole OEDD-24. Exploration had covered approximately only 5km of 20km trend.
Completed 1,168m of DD in 6 holes at Empire, targeting the top 120 vertical metres to increase confidence in the structural model, with results expected in April/May 2025.

Lando Target

Lando is a large 4km-long copper-gold soil anomaly, located 10km northwest of BBM.
Preparing to commence a 5 DD holes for a 1,000m and 20 RC holes for 1,600m program.

Figure 1: The Odienné Project – 2,462 square kilometres, showing targets for the project area.

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Figure 2: Induced Polarization ‘Chargeability’ image with the BBM and Fremen gold footprint superimposed in red. Drilled RC lines for the Fremen target are shown as black lines P1 to P4. Top right in an inset of the Fremen target.

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Figure 3: The 15km-long BBM shear – A 15km trend with Fremen to the southeast, BBM, and Boba and Fett targets to the north.

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About Awalé Resources

Awalé is a diligent and systematic mineral exploration company focused on discovering large high-grade gold and copper-gold deposits. Exploration activities are currently underway in the underexplored regions of Côte d’Ivoire, where the Company is focused on the Odienné Copper-Gold Project (‘Odienné‘ or the ‘Project‘), covering 2,489 km2 across seven permits. This includes 796 km2 in two permits held under the Awalé-Newmont Joint Venture (‘OJV’). Awalé manages all exploration activities over the OJV, with funding provided by Newmont Joint Ventures Limited (‘Newmont‘).

Awalé has discovered four gold, gold-copper, and gold-copper-silver-molybdenum discoveries within the OJV and has recently commenced exploration on its 100%-owned properties following an $11.5 million capital raise in April 2024.

The Project is underexplored and has multiple pipeline prospects with similar geochemical signatures to Iron Oxide Copper Gold (IOCG) and intrusive-related mineral systems with substantial upside potential. The Company benefits from a skilled and well-seasoned technical team that allows it to continue exploring in a pro-mining jurisdiction that offers significant potential for district-scale discoveries.

Abbreviations Used in this Release

Qualified Person

The technical and scientific information contained in this news release has been reviewed and approved for release by Andrew Chubb, the Company’s Qualified Person as defined by National Instrument 43-101. Mr. Chubb is the Company’s Chief Executive Officer and holds an Economic Geology degree, is a Member of the Australian Institute of Geoscientists (AIG), and is a Member of the Society of Economic Geoscientists (SEG). Mr. Chubb has over 25 years of experience in international mineral exploration and mining project evaluation.

AWALÉ Resources Limited
On behalf of the Board of Directors

‘Andrew Chubb’
Chief Executive Officer

The Company’s public documents may be accessed at www.sedarplus.com. For further information on the Company, please visit our website at www.awaleresources.com.

Forward-Looking Information

This press release contains forward-looking information within the meaning of Canadian securities laws (collectively ‘forward-looking statements’). Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, plans, postulate and similar expressions, or are those, which, by their nature, refer to future events. All statements that are not statements of historical fact are forward-looking statements. Forward-looking statements in this press release include but are not limited to statements regarding, the Company’s presence in Côte d’Ivoire and ability to achieve results, creation of value for Company shareholders, achievements under the Newmont JV, works on other properties, planned drilling, commencement of operations. Although the Company believes any forward-looking statements in this press release are reasonable, it can give no assurance that the expectations and assumptions in such statements will prove to be correct. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and other risks involved in the mineral exploration and development industry, including those risks set out in the Company’s management’s discussion and analysis as filed under the Company’s profile at www.sedarplus.ca. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including that all necessary governmental and regulatory approvals will be received as and when expected. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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