HIGHLIGHTS

• 45m @ 1.6 grams per tonne ("g/t") gold equivalent ("AuEq.") from 220m in OEDD-131,
  • including 4m @ 2.6 g/t Au, 0.55% Cu, and 449ppm Mo from 241m.
• 37m @ 0.8 g/t AuEq. from 159m downhole in OEDD-133.
• BBM has now confirmed consistent mineralization over 1km down to a depth of 300m below surface, with average true widths¹ ranging from 30m in the core zone to 22m over the entire 1km drilled strike.
• Several holes below 300m depth show mineralization is open down plunge.
• All assays from the 22-hole, 6,380m, diamond drill program at BBM are now reported.

Toronto, Ontario--(Newsfile Corp. - April 8, 2025) - Awalé Resources Limited (TSXV: ARIC) ("Awalé" or the "Company") is pleased to report results from the last six diamond drill holes completed as part of the drill campaign targeting the BBM discovery at the Odienné Project ("Odienné" or the "Project") in Côte d'Ivoire. The drill program began in November 2024 and is complete with a total of 6,380m drilled.

The latest results include one hole (OEDD-129) drilled at the southeastern extent of the BBM mineralization and five holes (OEDD-128, 130, 131, 132, and 133) drilled along the northwestern extents. The latter confirms a significant extension of mineralization to the northwest and identifies a steeply dipping, higher-grade lens likely related to folding in the western portion of the BBM zone (see significant intercepts from this release in Table 1). Awalé has closed drill spacing to a 100m grid and has confirmed the continuity of mineralization over at least 1 strike km (see drill plans and sections in the link below).

"With all results from the 22-hole diamond drill program at BBM now in hand, we are pleased to confirm a broad, consistent gold-copper mineralized system extending over a 1-kilometre strike to 300 metres below surface. Within this, we've defined a moderately plunging, higher-grade core - 300 metres wide which remains open down plunge, with significant potential for satellite targets within 2 to 3 kilometres of the now well-defined BBM discovery zone. We await the results from a scout reverse circulation drill program testing these additional satellite targets along strike.

As part of the broader 18,000m company-wide drill campaign, BBM is one of several key targets under active evaluation. With approximately two-thirds of results still pending, Awalé expects a consistent stream of news flow as it works to unlock the camp-scale potential of the Odienné Project," commented Andrew Chubb, CEO of Awalé Resources.

Link to All Figures

Watch CEO Andrew Chubb Discuss the Results

Table 1: Significant Intercepts from this Release

About the BBM Target Discovery

BBM is a significant gold-copper discovery, where drilling has returned consistent grades and widths over a 1-kilometre strike length within the discovery zone. The zone has resource potential and has now been drilled on approximately 100m spacing to a depth of 300m. Several deeper holes confirm that the mineralized system remains open down plunge.

A central, 300m-wide plunging shoot with higher grades and broader widths of mineralization holds the 1km discovery zone together. Within this shoot, average true widths are approximately 30m. BBM represents a key component of Awalé's broader exploration strategy at the Odienné Project, which targets a district-scale opportunity across multiple prospects.

BBM is a grassroots discovery by Awalé, with no prior exploration or artisanal mining activity reported at site before the Company's four-hole scout drilling and discovery program in December 2023 (see January 11, 2024 news release). Three drill campaigns have subsequently been completed at BBM, totalling 13,189m in 50 holes. Table 3 summarizes the significant intercepts from the current program, while results from earlier campaigns are detailed in news releases dated September 9, 2024 and November 18, 2024.

Mineralization at BBM is hosted within a subtle bend in a shear zone that extends for over 15km, where Awalé has drilled four scout drill lines in close proximity to BBM (see April 2, 2025 news release). The entire structure exhibits anomalous gold and copper geochemistry, supporting its potential as a pipeline for future discoveries. At the deposit scale, mineralization is characterized by gold-copper-molybdenum occurrences within a high-strain corridor marked by pervasive silica alteration, as well as biotite and k-feldspar/hematite alteration. Magnetite is also present and is more abundant proximal to mineralization rather than within the higher-grade zones. Mineralization occurs at the contact between granodiorite and volcanosedimentary rocks and sediments. The presence of molybdenum and other pathfinders share a similar fingerprint to the Charge, Empire, and Sceptre discoveries where mineralization is thought to have significant magmatic inputs. Awalé has postulated an Iron Oxide Copper Gold (IOCG) setting for the project area. Lamprophyre dykes proximal and within the mineralization suggest a deep crustal connection for the structures at BBM.

Additional targets within the camp-scale footprint include the advanced Charger and Empire prospects, as well as Lando and Fremen, with potential for discovery. All have been drilled as part of the current 18,000-metre drill campaign, which is now nearing completion.

A full table of significant intercepts from the current release, with drill collar locations for all drilling in this phase at BBM are presented in Table 1 and Table 2, respectively.

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 exploring 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 mineralized systems within the OJV and has recently commenced exploration on its 100%-owned properties following an $11.5 million capital raise in April 2024.

The Odienné 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.

Table 2: BBM Drilling Collar Cable - (all collars from this program)

Table 3: All Significant Intercepts Reported from this Drill Program

Quality Control and Assurance

All diamond core sampling through mineralized zones is conducted using NQ core. The core is cut in half lengthwise, with the left-hand side as oriented downhole collected at 1-metre intervals for assay. The remaining half is retained for future reference. Sampling also respects major geological contacts where necessary. Analytical work for geochemistry samples is being carried out at the independent ALS Laboratories in Ghana and Ireland, an ISO 17025 Certified Laboratory. Samples are prepared and stored at the Company's field camps and put into sealed bags until collected by ALS from the Company's secure Odienné office and transported by Intertek to their preparation laboratory in Yamoussoukro, Côte d'Ivoire, for preparation. Samples are logged in the tracking system, weighed, dried, and pulverized to greater than 85%, passing a 75-micron screen. Two pulps are prepared from each sample with one stream to Intertek Ghana for fire assay and a second to Ireland where the sample is analyzed by 52 element ICP/MS with a 4-Acid digest. Blanks, duplicates, and certified reference material (standards) are being used to monitor laboratory performance during the analysis.

Mineralized Interval Calculations

Significant intervals reported in this news release are calculated as downhole length-weighted intercepts. For the BBM target, initial mineralized zones are calculated at a 0.2 g/t trigger and include up to 3 metres of internal waste for delineating mineralized zones. Included intervals are calculated at 0.5 g/t, 1 g/t, and 2 g/t trigger values, with up to 3 metres of internal waste. Table 1 contains a list of all BBM holes reported in this release. True widths are estimated to be 70% of the downhole widths.

Au Equivalent Calculations

Au Equivalent is calculated using the following parameters in USD: Au - 1910/Oz (Troy), Cu 3.80/lb, Mo 40,000/Tonne, and Ag 23.40/Oz (Troy). The Formula AuEq = Au (g/t) + ((Cu (ppm) * 0.00014) + (Mo (ppm) * 0.00065) + (Ag (g/t)*0.01225)). An 80% metallurgical recovery is assumed for all metals, as the specific recovery rates for individual metals are unclear, and assuming different recoveries would be premature at this stage.

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.

Abbreviations Used in this Release

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.ca. 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.

¹ True widths are estimated at 70% of the downhole width of mineralization intercepted in drilling.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/247757