Mr. Andrew Chubb reports

AWALE PROVIDES PROGRESS UPDATE FOR ODIENNE PROJECT

Awale Resources Ltd. has provided an update on its exploration activities at the Odienne project in Ivory Coast. At the start of the year, the company set an ambitious work program that included commencing drilling at its 100-per-cent-owned Fremen property, advancing derisking 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 Odienne.

Highlights:

• Completed 2,014-metre scout RC (reverse circulation) drill program across 22 holes over high-priority geochemical and IP (induced polarization) anomalies at the 100-per-cent-owned Fremen target, with initial results expected in April, 2025;
• Completed a 150-line-kilometre IP geophysics survey covering over 15 kilometres of strike along the BBM trend, with final processed images expected in March, 2025;
• Commenced up to 4,000 metres of RC drilling on the BBM extensions, with initial results expected in April/May, 2025;
• Completed 6,380 metres of DD across 22 holes and one re-entry hole at BBM;
• Continuing with 2,500 metres of DD in 10 holes at Charger, testing the fold model, with results expected in April/May, 2025;
• Completed 1,168 metres of DD in six 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 five DD holes for 1,000 metres and 20 RC holes for 1,600 metres.

Andrew Chubb, chief executive officer of Awale Resources, commented: "With multiple active exploration fronts, Awale remains committed to delivering consistent updates and advancing its high-grade gold-copper targets at Odienne. Most recently, the completion of 2,014 metres of drilling at the 100-per-cent-owned Fremen target and geophysics along the BBM trend mark another important milestone in our systematic exploration approach to unlocking the potential of the Odienne project. We look forward to updating the market as results become available and as we continue advancing exploration of the Odienne project."

Current target summary:

• Fremen target (100 per cent Awale):
  • Completed 2,014-metre scout RC drill program across 22 holes over high-priority geochemical and IP anomalies, with initial results expected in April, 2025;
• BBM extensions:
  • Commenced up to 4,000 metres 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-kilometre IP geophysics survey covering over 15 kilometres 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, with final processed images expected in March, 2025;
• BBM target:
  • Completed a total of 6,379.9 metres 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 2,500 metres of DD in 10 holes, testing the fold model, which has previously returned 57 metres at 26 grams per tonne gold in hole OEDD-83 and 59 metres at 14.7 grams per tonne gold 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 15 metres at 13.1 grams per tonne gold in hole OEDD-24; exploration had covered approximately only five kilometres of the 20-kilometre trend;
  • Completed 1,168 metres of DD in six 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, four-kilometre-long copper-gold soil anomaly, located 10 kilometres northwest of BBM;
  • Preparing to commence a program of five DD holes for 1,000 metres and 20 RC holes for 1,600 metres.

About Awale Resources Ltd.

Awale is a diligent and systematic mineral exploration company focused on discovering large high-grade gold and copper-gold deposits. Exploration activities are currently under way in the underexplored regions of Ivory Coast, where the company is focused on the Odienne copper-gold project, covering 2,489 square kilometres across seven permits. This includes 796 square kilometres in two permits held under the Awale-Newmont joint venture. Awale manages all exploration activities over the OJV, with financing provided by Newmont Joint Ventures Ltd.

Awale has discovered four gold, gold-copper and gold-copper-silver-molybdenum discoveries within the OJV and has recently commenced exploration on its 100-per-cent-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.

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.

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