Mr. Andrew Chubb reports

AWALE COMMENCES DRILLING AT THE LANDO TARGET, ODIENNE PROJECT

Awale Resources Ltd. has commenced a 2,600-metre (m) drill program across 25 holes at the Lando target, a significant four-kilometre-long (km) copper-gold-molybdenum anomaly within the Odienne project in Ivory Coast. Lando represents an opportunity for a potential new discovery at the project, where the company is undertaking an aggressive 18,000 m drill program this quarter across multiple targets.

Highlights:

• Commenced a 2,600 m drill program across 25 holes at Lando;
• Lando is a substantial copper geochemical footprint, both in size and tenor, including a four km long gold-copper-molybdenum anomaly that will be tested;
• Lando is located 10 km northwest of the BBM target and 17 km north of the Sceptre target;
• Geological significance: Lando shares structural similarities with BBM and lies on the northeast side of the same major structure, highlighting its potential within Odienne's broader mineralized system.

Andrew Chubb, chief executive officer of Awale Resources, commented: "The Lando target represents an exciting new opportunity within the Odienne project. As a high-priority discovery drilling target, Lando is another product of our systematic exploration approach, which continues to deliver high-priority drill targets. We look forward to this drilling bringing Lando into our broader vision for the project.

"Awale is nearing completion of its 18,000 m diamond and reverse circulation drill program planned for the quarter, with results expected from the BBM, Charger, Empire, Fremen and Lando targets. With each phase of drilling, we are uncovering more of Odienne's potential and we anticipate further strong results as we progress this emerging gold-copper district."

Current drill program at Lando

The company has commenced a 2,600 m drill campaign at Lando, comprising approximately 1,000 m of diamond drilling and 1,600 m of reverse circulation (RC) drilling. This program aims to test the gold-copper-molybdenum anomaly with three main drill fences along two km of strike within the anomaly's core. Diamond drilling is prioritized in areas of higher topography, where RC drilling is challenging, while RC drilling is focused on lower-lying sections across the valley floor. Encouraging chargeability and resistivity anomalies, coinciding with soil geochemistry, further support Lando's potential for a new discovery.

Background on Lando

The Lando target exhibits another substantial copper geochemical footprint, both in size and tenor. This four km long copper-gold anomaly is located in the northern region of the Odienne East permit, approximately 10 km northwest of the BBM target and 17 km north of the Sceptre target. Lando is positioned along a subsidiary structure to the west of the interpreted belt-basin margin, similar to BBM, which lies on a similar structure on the northeastern side of the same major domain boundary.

Soil and IP (induced polarization) surveys delineated a significant four km long chargeable resistive anomaly that conforms with a high-order Cu-Au (copper-gold) footprint from soil geochemistry. The Lando footprint consists of a high-tenor copper anomaly (more than 99 parts per million (ppm) Cu) with a one km core exceeding 387 ppm Cu. Gold-in-soil analysis confirmed a 3.5 km long anomaly exceeding 86 parts per billion (ppb) Au (95th percentile), with a peak value of 921 ppb Au within a one km long core. The anomalism is supported by rock chip* samples of up to 4.8 grams per tonne (g/t) Au collected from artisanal workings at the prospect; the anomaly also remains open to the north and south (see the Aug. 23, 2022, news release and the Nov. 28, 2022 news release).

* Rock chip sampling is selective and not necessarily representative of the overall grade of mineralization for this prospect.

The mineralization sits close to a high-strain intrusive contact to the west with the highest grades coincident with a left-stepping flexure of this high-strain zone. Active traditional artisanal gold workings have been located close to the core of the mineralization, where they are exploiting quartz breccias with iron oxide fill, presumably after sulphide. The breccias are hosted in a series of high-strain basaltic rocks and schists.

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 exploring the Odienne copper-gold project, covering 2,489 square km across seven permits. This includes 796 square km in two permits held under the Awale-Newmont joint venture (OJV). 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 mineralized systems 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 Odienne 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 quality assurance (QC/QA)

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 its 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-micron 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 (inductively coupled plasma mass spectrometry) 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 Mr. Chubb, the company's qualified person as defined by National Instrument 43-101. Mr. Chubb is the company's chief executive office,r 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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