Mr. Andrew Chubb reports

AWALE STRENGTHENS TREASURY TO $18.8 MILLION FOLLOWING ADDITIONAL WARRANT EXERCISES

Awale Resources Ltd. has received additional proceeds of approximately $1.1-million from the exercise of 5,499,166 common share purchase warrants of the company at an exercise price of 20 cents per share. The warrants were issued as part of the company's May 24, 2023, private placement financing, which included approximately 10.2 million warrants.

Highlights:

• Approximately $18.8-million in cash on hand following the exercise of the remaining 5.5 million warrants from the May 24, 2023, financing, generating approximately $1.1-million in proceeds;
• Strong treasury supports accelerated exploration across Awale's 100-per-cent-owned permits in Ivory Coast;
• Continued support from insiders and strategic shareholder demonstrated through the exercise of approximately 5.2 million warrants by chairman Stephen Stewart, director Charles Beaudry and Orecap Invest Corp.;
• 118,996,931 common shares issued and outstanding following warrant exercise and expiry;
• Preliminary economic assessment targeted for Q3 2026.

Combined with the previously announced $5-million from warrant exercises disclosed on May 12, 2026, the company's cash position has increased to approximately $18.8-million.

"The additional warrant exercises provide Awale with increased flexibility to accelerate exploration across our 100-per-cent-owned land package and build on the momentum from our recently announced 1.71-million-ounce-gold-equivalent inferred mineral resource estimate," stated Andrew Chubb, president and chief executive officer of Awale Resources.

Drilling is currently under way across multiple targets, including follow-up work at the Fremen discovery on the Sienso permit, alongside planned drilling and target advancement at the Seydou and Sama permits. The company is also continuing to strengthen its in-country technical team to support continuing exploration and resource growth programs across the Odienne district, with advancement toward a preliminary economic assessment targeted for Q3 2026.

Following the exercise and expiry of the warrants, the company has 118,996,931 common shares issued and outstanding, together with 8,986,667 stock options, 535,000 restricted share units and 1,454,357 warrants.

About Awale Resources Ltd.

Awale Resources is a diligent and systematic mineral exploration company focused on discovering large-scale gold and gold-copper deposits in Ivory Coast. The company's flagship Odienne project now hosts an initial inferred mineral resource estimate of 1.71 million ounces gold equivalent across the BBM, Charger and Empire deposits (32.4 million tonnes at 1.33 grams per tonne gold and 0.33 per cent copper), providing a strong foundation for continuing growth and future economic studies.

The Odienne project covers 2,346 square kilometres across seven permits, including 797 square kilometres held under the Awale-Newmont joint venture. Awale manages exploration activities across the joint venture area, with financing currently provided by Newmont Ventures Ltd. under the exploration agreement signed in May, 2022.

In addition to the current resource base defined on the joint venture ground, Awale controls a substantial 100-per-cent-owned land position across the broader Odienne district, where multiple untested and early-stage targets provide additional potential discovery upside. Across the project, Awale has identified multiple gold and copper-gold systems and continues to build a pipeline of targets with potential to support further discoveries and resource growth.

With a skilled and experienced technical team, Awale is advancing exploration in an underexplored and pro-mining jurisdiction with clear 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, holds a degree in economic geology, 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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