Mr. Stephen Stewart of Orecap reports

ORECAP COMPLETES AWALE FINANCING

Orecap Invest Corp. has completed its investment in Awale Resources Ltd., as announced in the company's April 25 news release.

"This financing and a change in leadership at Awale represents a special situation where an active approach can add value to our investments. We are excited to partner with Awale and its new CEO, Andrew Chubb, who has a clear plan to advance their Odienne project. Odienne is a large-scale and exciting copper-gold project that has attracted equity investment and a joint venture partnership with the world's largest gold miner, Newmont Corp. Newmont is scheduled to spend $3-million on Odienne in 2023. With fresh leadership, a restored balance sheet and significant news flow on the horizon from Newmont's investment in Odienne, we see a bright future for Awale. So much so that Charles Beaudry and I have personally co-investing alongside Orecap," said Stephen Stewart, Orecap chief executive officer.

Awale's new CEO and new directors to the team

Awale also announced the appointment of Mr. Chubb, formerly the company's chief operating officer, as its new chief executive officer and director. Mr. Chubb is a geologist with 20 years of experience and has been intimately involved with the company's projects since its inception.

In addition to the CEO appointment, Awale appointed Mr. Stewart to its board of directors. Orecap will appoint an additional director to Awale's board of directors at its forthcoming annual general meeting.

We seek Safe Harbor.