Highlights:

• Step-down drilling at Empire confirms broad, multi-zone gold mineralization to 280m vertical depth.

  • 5.1 g/t gold over 10m from 224m, including 24.9 g/t gold over 2m (EMDD-11)

  • 1.3 g/t gold over 11m from 198m, including 7.8 g/t gold over 1m (EMDD-11)

• Near-surface resource drilling:

  • 2.9 g/t gold over 10m from 116m (EMDD-07)

  • 1.1 g/t gold over 19m from 23m (EMDD-03)

• Mineralization open along strike and at depth across Empire's 20 km corridor, with drilling to date covering only 5 km.

• All resource drilling results now reported; initial MRE targeted for Q2 2026.

Toronto, Ontario--(Newsfile Corp. - April 21, 2026) - Awalé Resources Limited (TSXV: ARIC) (OTCQX: AWLRF) (FSE: 2F60) ("Awalé" or the "Company") is pleased to report drill results from the Empire target at its Odienné Project ("Odienné" or the "Project") in Côte d'Ivoire. These results complete the Company's 12-hole drill program at Empire with 9 of these 12 holes to be incorporated into the initial Mineral Resource Estimate ("MRE"), targeted for release in Q2 2026.

Drill hole EMDD-11 follows-up on the previously released deep hole OEDD-127, which returned 5.2 g/t Au over 15m from 215m downhole, including 7.5 g/t Au over 10m (see news release dated May 12, 2025), extending the high-grade zone down-plunge to 150m vertical depth. The Empire target will form part of Awale's first MRE alongside BBM and Charger and is expected to contribute a potential near-surface, open-pit component with upside expansion potential.

"This is an important result for Empire because it confirms growth beyond the current resource drilling area. High-grade mineralization in the deepest hole drilled to date shows the system continues at depth and potentially remains open along strike. With drilling now reported across Empire, Charger, and BBM, we have significantly advanced the data that supports a first resource estimate for the Project in the coming weeks. Drilling continues to test additional upside at the Charger and BBM targets, and Sienso permit," stated Andrew Chubb, President and CEO of Awalé Resources.

Link to All Figures

Watch Video of CEO Andrew Chubb Discussing New Results from Empire

About Empire

Step-back hole EMDD-11 has not only intercepted down-plunge mineralization from previously reported hole OEDD-127, returning a high-grade result of 2m at 24.9 g/t Au within a broader minreralized vein and alteration zone of 10m at 5.1 g/t Au, but also intercepted hanging wall mineralization. This returned 11m at 1.3 g/t Au from 198m, including 1m at 7.8 g/t Au. This mineralization is significant and is interpreted to represent a new zone (see cross section in Figure 4) and may be related to step south and southeast en echelon mineralization previously reported at Empire as 'Empire Gap' (see news release dated September 1, 2021).

Empire is Awalé's first discovery from the first drill program on the Odienné Project in 2019. It is a high-grade gold discovery that sits within a 20 km WNW (west-northwest) trending structure corridor, and 2.5 km south of the Charger discovery. The Company has now demonstrated that the Odienné Project lies within a large plumbing system where multiple discoveries have been made. Taken together, these discoveries form the potential for a mining camp where multiple sites would feed a central processing facility, Empire is a high-grade discovery that is part of this vision.

Ongoing Drilling and Results Pending

The Company continues to advance multiple drill programs across the Project, with results pending from:

• Four exploration holes at Charger 2
• Seven diamond drill holes and aircore drilling at Fremen target on the 100%-owned Sienso permit
• Ongoing diamond drilling at BBM and Charger NE
• Regional aircore drilling across the Odienné East and Odienné West permits

About Awalé Resources

Awalé is a diligent and systematic mineral exploration company focused on discovering large high-grade gold and copper-gold deposits. Exploration activities are currently underway in the underexplored regions of Côte d'Ivoire, where the Company is exploring the Odienné Copper-Gold Project ("Odienné" or the "Project"), covering 2,346 km² across seven permits-five granted and two applications. This includes 797 km² in two permits held under the Awalé-Newmont Joint Venture ("OJV"). Awalé currently manages all exploration activities over the OJV, with funding currently provided by Newmont Ventures Limited ("Newmont") under an Exploration Agreement signed in May 2022.

Awalé has discovered four gold, gold-copper, and gold-copper-silver-molybdenum mineralized systems within the OJV and has recently commenced exploration on its 100%-owned properties.

The Odienné 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.

Table 1: Significant Intercepts from Diamond Drilling - (from this release)

Table 2: Empire Drill Collar Details - (all collars from this release)

Quality Control and Assurance

Analytical work for drill samples is being carried out at the independent Intertek Laboratories in Ghana and Australia, an ISO 17025 Certified Laboratory. Samples are prepared and stored at the Company's field camps and put into sealed bags until collected by Intertek from the Company's secure Odienné office and transported by Intertek to their preparation laboratory in Yamoussoukro, Côte d'Ivoire, for preparation. Samples are logged in the tracking system, weighed, dried, and pulverized to greater than 85%, 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 Australia where the sample is analyzed by 52 element ICP/MS with a 4-Acid digest. Blanks, duplicates, and certified reference material (standards) are being used to monitor laboratory performance during the analysis. Where visible gold is observed in drill core, a quartz wash is applied between every sample to reduce or eliminate any contamination. Once fire assay results are received, samples over 5 g/t gold are routinely screen fire assayed, samples lower than 5 g/t gold continued within a high-grade interval are also screen fire assayed.

Mineralized Interval Calculations

Significant intervals reported in this news release are calculated as downhole length-weighted intercepts. For the Empire target, initial mineralized zones are calculated at a 0.2 g/t Au trigger and include up to 3 metres of internal waste for delineating mineralized zones. Included intervals are calculated at 0.5 g/t Au, 1 g/t Au, and 5 g/t Au trigger values, with up to 3 metres of internal waste. Table 1 and 2 contains a list of all holes reported in this release. True widths are estimated to be 75% of the downhole widths. Holes not reported do not make the 0.2 g/t Au grade trigger.

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.

Abbreviations Used in this Release

AWALÉ Resources Limited
On behalf of the Board of Directors

"Andrew Chubb"
Chief Executive Officer

The Company's public documents may be accessed at www.sedarplus.ca. For further information on the Company, please visit our website at www.awaleresources.com.

Forward-Looking Information

This news release contains forward-looking information within the meaning of Canadian securities laws (collectively "forward-looking statements"). Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, plans, propose, potential, postulate and similar expressions, or are those, which, by their nature, refer to future events. All statements that are not statements of historical fact are forward-looking statements. Forward-looking statements in this news release include but are not limited to statements regarding the Company's presence in Côte d'Ivoire and ability to achieve results, creation of value for Company shareholders, achievements under the Newmont JV, works on other properties, timing and extent of planned drilling, expectations to achieve a first mineral resource estimate and preliminary economic assessment, advancing towards a pre-feasibility study, potential for new discoveries, timing for providing assay results, commencement of operations. Although the Company believes any forward-looking statements in this news release are reasonable, it can give no assurance that the expectations and assumptions in such statements will prove to be correct. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, the results of the proposed drilling programs, the number of drilling rigs on site, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and other risks involved in the mineral exploration and development industry, including those risks set out in the Company's management's discussion and analysis as filed under the Company's profile at www.sedarplus.ca. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including that all necessary governmental and regulatory approvals will be received as and when expected and that the proposed drilling program will proceed as planned. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/293495