Mr. Robin Birchall reports

AWALE RESOURCES ANNOUNCES SHARES FOR DEBT INCREASE

Subject to TSX Venture Exchange acceptance, Awale Resources Ltd. intends to settle additional outstanding accounts of $231,428.96 (for an aggregate settlement of $481,428.96) to certain directors, officers and consultants of the company through the issuance of an additional 1,928,575 common shares of the company for an aggregate issuance of 4,011,908 common shares at a deemed price of 12 cents per settlement share. A total of 1,855,413 settlement shares will be issued concurrently with closing of the brokered and non-brokered private placements, also announced on April 25, 2023, and 2,156,495 settlement shares will be issued on receipt of, and subject to, approval of the disinterested shareholders of the company, which approval will be sought shortly following closing.

About Awale Resources Ltd.

Awale is a diligent and systematic mineral exploration company focused on the discovery of large high-grade gold and copper-gold deposits. The company currently undertakes exploration activities in the underexplored parts of Ivory Coast. Awale's exploration success to date has culminated in a fully financed earn-in joint venture with Newmont covering the Odienne project in the northwest of Ivory Coast, where three significant gold and gold-copper-silver-molybdenum discoveries have been made. The Sceptre East and Charger discoveries have significant scope for growth with future discovery and resource development drilling. The project has multiple pipeline prospects that follow the same geochemical fingerprint as iron oxide copper/gold (IOCG) and intrusive-related targets. The 400 square kilometres of granted tenure and 400 square kilometres under application remain underexplored and offer significant upside potential. The Newmont joint venture forms a solid foundation for the company to continue exploring in a pro-mining jurisdiction that offers significant potential for district-scale discoveries.

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