Mr. Andrew Chubb of Awale Resources reports

AWALE ANNOUNCES STRATEGIC INVESTMENT BY FORTUNA MINING

Awale Resources Ltd. has arranged an $8,264,997 ($6-million (U.S.) based on the Bank of Canada's daily exchange rate on May 27, 2025) strategic investment in Awale by Fortuna Mining Corp. on a non-brokered private placement basis. Proceeds from the offering will be primarily used to advance exploration activities across the company's 100-per-cent-owned properties at the Odienne project in Ivory Coast.

"We are extremely pleased to welcome Fortuna Mining as a strategic investor," commented Andrew Chubb, chief executive officer of Awale Resources. "As an established and successful operator with a strong presence in West Africa and particularly in Cote d'Ivoire, Fortuna's investment is a strong endorsement of our technical team, our exploration approach and our clear vision for the Odienne district. This investment positions the company strategically as we launch intensive exploration on our 100-per-cent-owned ground."

Under the terms of the offering, Awale will issue 15,037,593 common shares in the capital of the company at a price of 55 cents (39.9 U.S. cents) per share, representing a 19-per-cent premium to the 10-day volume-weighted average trading price of the common shares on the TSX Venture Exchange ending on May 27, 2025, for gross proceeds of approximately $8,264,997 ($6-million (U.S.)).

The closing of the offering is expected to occur on or about June 20, 2025, subject to the satisfaction of certain closing conditions, including receipt of TSX-V final approval and all other necessary regulatory approvals, and the execution of an investor rights agreement between Fortuna and the company. The shares will be subject to a hold period of four months plus a day following the closing date, in accordance with applicable Canadian securities laws and the policies of the TSX-V.

The shares will represent a total position of approximately 15 per cent of the issued and outstanding common shares of the company upon completion of the offering on an undiluted basis.

Pursuant to the investor rights agreement:

• Fortuna will be granted a participation right to maintain its pro rata ownership in connection with future equity financings.
• Fortuna will be granted a top-up right to acquire common shares in a market transaction to maintain its pro rata ownership in connection with future share issuances that are not an equity financing.
• A joint technical advisory committee will be formed between Fortuna and Awale.

In the event that Fortuna's aggregate shareholdings are reduced to less than 10 per cent of the issued and outstanding common shares of the company on an undiluted basis, the investor rights agreement will terminate.

Current Awale shareholders Newmont Ventures Ltd., a wholly owned subsidiary of Newmont Corp., and Orecap Invest Corp. have the right to participate, on equal terms, in equity issuances of the company so as to maintain their respective pro rata ownerships in the company. A subsequent news release will be issued should Newmont or Orecap exercise their participation rights. In the event Newmont or Orecap chooses to exercise its right to participate, the company may issue such additional shares at a price of 55 cents (39.9 U.S. cents).

About Fortuna Mining Corp.

Fortuna Mining is a Canadian precious metals mining company with three operating mines and exploration activities in Argentina, Ivory Coast, Mexico and Peru, as well as the Diamba Sud gold project located in Senegal. Sustainability is integral to all of Fortuna's operations and relationships. Fortuna produces gold and silver, and generates shared value over the long term for its stakeholders through efficient production, environmental protection and social responsibility.

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 2,346 square kilometres across seven permits -- five granted and two applications. This includes 797 square kilometres in two permits held under the Awale-Newmont joint venture (OJV). Awale manages all exploration activities over the OJV, with financing provided by Newmont Ventures.

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

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.

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