Mr. Glen Parsons reports

AWALE RESOURCES EXTENDS GOLD MINERALIZED TARGET ZONE AT EMPIRE, ODIENNE PROJECT, CATE D'IVOIRE

Awale Resources Ltd. has increased the geochemical footprint of the high-grade Empire Main gold discovery to a strike length of 900 metres, as well as a new greater than 600 m long high-order gold anomaly at the Charger target. Results reported in this release are from an 859 hole (4,470 m) auger drill program covering Empire West, Empire Gap and the new Charger target.

The drill-ready strike extent and an offset anomaly (Empire West and Empire Gap, respectively) have been delineated at the Empire main discovery. These targets, along with the new Charger target, present immediate drill targets to rapidly build near-surface gold ounces both in and around the existing Empire Main discovery.

The planned follow-up drilling over these targets in Q2 is a significant step toward Awale's development objective of achieving and growing the Empire project to greater than one million ounces gold. Awale is now in the process of engaging consultants to assist in achieving an initial resource statement at Empire by Q1 2022.

Highlights

Empire Gap and West Auger targets:

• Extends the Empire Main footprint to over 900 m along strike from the current 250 m discovery zone;
• Within this 900 m zone, Empire Gap has a peak value of 1,713 parts per billion (or 1.7 grams per tonne) gold within a 250 m long greater than 50 ppb anomaly;
• This high-order anomaly is directly strike east of diorite-hosted mineralization intercepted in hole OERC-16 (seven m at 0.33 g/t gold) at Empire Main and is interpreted to be a southeast offset extension to Empire Main mineralization;
• Empire West has a peak value of 731 ppb within a narrow but continuous 350 m long greater than 30 ppb anomaly southwest from the Empire Main discovery;
• Both targets have the potential to significantly add ounces to the current high-grade mineralized envelope of Empire Main, which also remains open at depth.

Charger target:

• Compelling drill-ready bull's-eye gold target, within interpreted fold hinge, approximately three km north of Empire Main along the northern boundary of the 20 km long Empire corridor;
• This target has returned a north-northeast striking 600 m long greater than 90 ppb gold anomaly with a peak value of 562 ppb;
• This is double the strike length of the greater than 100 ppb soil anomaly that led to the Empire Main discovery;
• Initial mapping and magnetic interpretation have revealed a 500 m long diorite body at the core of this anomaly that sits close to the nose of the interpreted fold structure; the intrusion is bound by a package of basalts and intermediate volcaniclastics and tuffaceous rock;
• The diorite displays similar characteristics to the Empire Main host diorite.

Company chief executive officer Glen Parsons commented today: "These new priority targets along strike highlight the growth potential of Empire Main zone as we now move toward an initial resource statement. The new 600 m high-priority Charger target has the exciting possibility to complement Empire Main and is also drill ready. These results highlight the gold prospectivity of the Empire corridor and the greater Odienne project, reinforcing Awale Resources' ability to continue unlocking and developing the potential for a significant gold camp in Cote d'Ivoire at Odienne. We are pleased to be planning and preparing for the next drill phase over these targets in Q2 as well as developing the recently announced Anomaly 1 and Anomaly 2 discoveries. Our aim is to consolidate the Empire Main discovery with an initial resource and continue building further ounces here, as well as continually developing new targets like Charger."

Quality control and assurance

Analytical work for auger geochemical samples is being carried out at the independent Intertek Laboratories Australia Ltd. an ISO 17025 (2017) certified laboratory. Samples are stored at the company's field camps and put into sealed bags until collected by Intertek from the company's secure Bondoukou or Odienne office and transported by Intertek to its laboratory in Tarkwa, Ghana, for preparation. Samples are logged in the tracking system, weighed, dried and pulverized to better than 85 per cent, passing a 75-micron screen. This pulp sample is then shipped to Australia where 10-gram split is analyzed by inductively coupled plasma mass spectrometrywith an aqua regia digest. Blanks, duplicates and certified reference material (standards) are being used to monitor laboratory performance during the analysis.

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 operating 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 Geologists (SEG). Mr. Chubb has 18 years of experience in international minerals exploration and mining project evaluation.

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