Mr. Andrew Chubb reports

AWALÉ UPDATES ON DRILLING AT HIGH-GRADE GOLD CHARGER TARGET, ODIENNÉ PROJECT

Awale Resources Ltd. has provided an update on exploration activities at the Charger target within the Odienne project in Ivory Coast.

Highlights

• The Charger zone stands out with some of the highest-grade intercepts in West Africa in the last 12 months, including 32 metres at 45.7 g/t (grams per tonne) Au from 165 m down hole in OEDD-83. Awale is now following up on these high-grade intersections.
• Charger is a near-surface, high-grade gold discovery hosted within a 200-metre-long breccia corridor.
• Ten holes have been completed at Charger, with drilling on two more in progress, with results expected in April/May, 2025

Andrew Chubb, chief executive officer of Awale Resources, commented: "Charger has already delivered some of the highest-grade gold intercepts in West Africa, and we believe we are only beginning to unlock its full potential. With the current drill program well under way, we are systematically testing Charger's northeast-trending corridor to confirm continuity and volume potential. Drilling to date has consistently intersected the breccia target, warranting an extension of the initial program based on these encouraging observations. This phase of drilling will play a critical role in our broader strategy to define a district-scale gold system at Odienne."

Charger's geological model and the significance of its Hinge zone

The company's geological modeling on Charger has identified folding as a key control on high-grade mineralization. Thickening within the hinge zones of these folds has resulted in broader and higher-grade gold intercepts, as demonstrated in recent drill results. The breccia has now been intersected at multiple points along the northeast corridor, with mineralization remaining open both up and down plunge of previously reported intercepts. Additionally, there is potential for multiple fold hinges within the existing mineralized corridor, as well as parallel zones to the southeast, which could further expand Charger's high-grade volume (see Nov. 11, 2024, news release). Charger represents a high-grade gold discovery, and along with other discoveries on the project -- including BBM, Empire and Sceptre -- provides evidence of a potentially large-scale mineralized system within the broader Odienne project.

Previous standout results include:

• OEDD-83: 57 metres at 26 grams per tonne Au from 164 m down hole, including 32 m at 45.7 g/t Au from 165 m down hole;
• OEDD-88: 29 m at 20 g/t Au from 149 m down hole, including eight m at 39.5 g/t Au from 149 m down hole;
• OEDD-100: 59 m at 14.7 g/t Au from 140 m down hole.

These exceptional results highlight Charger's potential as a high-grade gold system. The company's continuing work has established a 200-metre strike length of mineralization, with significant opportunity for further expansion.

Charger's current diamond drill program

The current exploration program at Charger is designed to build upon the geological model refined in 2024, which identified structural folding as a key control on gold mineralization.

• Current drill activity: The initial 1,500 m drill program has been extended to 2,500 m, targeting additional high-grade fold hinges that could significantly expand the mineralized corridor. Ten holes have now been completed, with two holes remaining. Assay results from Charger are expected in April/May, 2025.

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.

Quality control and assurance

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 Odienne office and transported by Intertek to their preparation laboratory in Yamoussoukro, Ivory Coast, for preparation. Samples are logged in the tracking system, weighed, dried and pulverized to greater than 85 per cent, passing a 75-micrometre 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 four-acid 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 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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