Awalé Confirms 'BBM Style' Mineralization at the 100%-Owned Fremen Target

Rhea-AI Summary

Awalé Resources (OTCQX: AWLRF) reported RC drill assays at the 100%-owned Fremen target, confirming near-surface gold mineralization along an ~8 km strike including a newly tested 5 km southern extension. The 22-hole, 2,430 m scout program returned notable intersections such as 7 m @ 0.6 g/t Au, 14 m @ 0.4 g/t Au and 5 m @ 1.3 g/t Au (best 1 m @ 4.6 g/t Au). Awalé holds C$15 million in treasury and plans follow-up diamond drilling in November and a 100,000 m drill program across Odienné.

Positive

• Near-surface mineralization across ~8 km strike
• Scout program: 22 holes, 2,430 m drilled
• Highest intercept: 1 m @ 4.6 g/t Au
• Company treasury: C$15 million
• Planned 100,000 m regional drill program

Negative

• None.

HIGHLIGHTS

• Awalé is advancing its geological understanding of the Fremen target, with shallow drilling confirming near-surface mineralization along 8 kilometres of strike.
• RC drilling confirms mineralization over 5-kilometre-long gold-in-termite mound anomaly, extending the zone.
• Mineralization hosted in sheared and altered intrusive rocks, consistent with the BBM discovery setting.
• Shallow drill intersections include:
  • 7m @ 0.6 g/t Au from 97m downhole in hole SSRC-34, including 3m @ 1.1 g/t Au from 99m
  • 14m @ 0.4 g/t Au from 6m downhole in hole SSRC-35, including 1m @ 1.1 g/t Au from 11m
  • 5m @ 1.3 g/t Au from 10m downhole in hole SSRC-36, including 1m @ 4.6 g/t Au from 10m

Toronto, Ontario--(Newsfile Corp. - October 29, 2025) - Awalé Resources Limited (TSXV: ARIC) (OTCQX: AWLRF) (FSE: 2F60) ("Awalé" or the "Company") is pleased to report assay results from Reverse Circulation ("RC") drilling at the 100%-owned Fremen target, part of the Odienné Project ("Odienné" or the "Project") in Côte d'Ivoire.

This second phase of drilling has confirmed mineralization within a 5-kilometre extension to the initial 4-kilometre-long zone to the northwest of the target area. Mineralization was intercepted in 4 of 5 drill fences from the scout drill program which consisted of 5 broadly spaced fences with 2,430m drilled in 22 holes.

"We are building our understanding of the Fremen target, and shallow drilling has now confirmed near-surface mineralization over 8 kilometres of strike. Follow-up diamond drilling is set to begin in November, and we'll be integrating these latest results with our new magnetic geophysics to refine our understanding of this target.

"With C$15 million in treasury, the Company is well funded to continue advancing Fremen while also building a strong pipeline of drill-ready targets across all our 100%-owned properties which cover approximately 1,550 km² or two-thirds of the Odienné Project's 2,346 km² land package. We are only beginning to unlock the potential of our 100%-owned ground, and we are committed to delivering new discoveries and value for shareholders," commented Andrew Chubb, CEO of Awalé Resources.

The 100,000m drill program announced earlier in the month (see October 3, 2025 news release) is on schedule to commence after the rainy season in October 2025, with up to 5 rigs expected on site and near-continuous drilling planned throughout 2026. Awalé will provide shareholders with updates on specific targets, timelines, and results as the program advances.

The Company also anticipates publishing assay results from earlier drilling at Charger in the near term.

This is the second RC drilling program at the 100%-owned Fremen target in the Sienso permit. The 22-hole, 2,430-metre program tested a newly defined 5 km southern extension to mineralization identified in Phase I drilling, which included shallow intersections of 15m @ 0.6 g/t gold from 40m, including 7m @ 1.1 g/t gold from 46m (see June 16, 2025 news release). The latest results confirm shallow gold mineralization that encouragingly has very similar geology to Awalé's BBM discovery.

The mineralized trend at Fremen now extends for more than 8 km, with follow-up drilling set to commence this quarter to further define scale and tenor of mineralization.

Link to All Figures

View Video of CEO Andrew Chubb Discussing Results

Watch Video of CEO Andrew Chubb Discussing Termitaria in Exploration

Table 1: Significant Intercepts - (from this release)

Hole ID	From (m)	To (m)	Length (m)	Au (g/t)	Comp. Trigger (Au g/t)
SSRC0026	12	17	5	0.2	0.2
SSRC0030	37	38	1	1.5	0.2
SSRC0034	58	60	2	0.6	0.2
including	59	60	1	1.0	0.5
	97	104	7	0.6	0.2
including	99	102	3	1.1	0.5
SSRC0035	6	20	14	0.4	0.2
including	11	12	1	1.1	1.0
	24	29	5	0.5	0.2
	56	59	3	0.5	0.2
including	58	59	1	1.1	0.5
SSRC0036	10	15	5	1.3	0.2
including	10	11	1	4.6	1.0
SSRC0039	78	79	1	1.0	0.5
	96	97	1	1.3	0.2
SSRC0046	40	41	1	0.5	0.2
	96	100	4	0.4	0.2

 

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 2: Fremen Drilling Collar Cable - (all collars from this program)

Hole ID	Easting	Northing	RL_M	Azimuth_True	Dip	EOH_M
SSRC0026	661082.7	1037564.9	427.5	66	-50	106
SSRC0027	661133.5	1037586.4	426.0	66	-50	118
SSRC0028	661181.3	1037611.6	424.7	66	-50	114
SSRC0029	660791.5	1038022.0	432.2	66	-50	105
SSRC0030	660839.9	1038041.5	432.5	66	-50	108
SSRC0031	660890.8	1038065.0	432.7	66	-50	100
SSRC0032	660939.9	1038086.0	432.4	66	-50	100
SSRC0033	660441.7	1038430.9	436.0	66	-50	102
SSRC0034	660491.3	1038452.7	436.1	66	-50	104
SSRC0035	660542.3	1038474.1	436.8	66	-50	106
SSRC0036	660592.6	1038495.2	437.7	66	-50	108
SSRC0037	660363.1	1039329.9	425.0	66	-50	102
SSRC0038	660410.6	1039350.8	423.3	66	-50	78
SSRC0039	660464.4	1039374.8	421.0	66	-50	100
SSRC0040	660511.4	1039397.0	418.8	66	-50	101
SSRC0041	661489.3	1036755.9	442.4	66	-50	102
SSRC0042	661536.8	1036777.8	442.9	66	-50	102
SSRC0043	661588.5	1036802.3	443.0	66	-50	102
SSRC0044	661635.3	1036824.4	443.3	66	-50	40
SSRC0045	661644.4	1036829.0	443.4	66	-50	114
SSRC0046	660737.8	1037997.0	432.0	66	-50	100

 

Quality Control and Assurance

Reverse Circulation sampling was conducted on a metre-by-metre basis, with each metre weighed and riffle split to produce approximately 3-kilogram sub-samples for laboratory submission. Each sample was clearly labelled, and routine field duplicate samples were taken via a second riffle split of the original sample. Systematic certified reference material is also inserted in the sample stream as well as blank samples.

Termite mound geochemistry samples are taken from multiple (minimum 3) 20-to-50-centimetre cores pierced into the mound. Routine duplicate samples are collected on site as well as insertion of reference materials and blanks.

Analytical work for all samples is being carried out at the independent SGS Laboratories in Côte d'Ivoire, an ISO 17025 Certified Laboratory. Samples are prepared and stored at the Company's field camps and put into sealed bags and transported to SGS secure facility in Yamoussoukro Côte d'Ivoire for preparation and analysis. 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 returned to the Company for multielement analysis by portable XRF a second analyzed by fire assay with AAS finish at SGS Yamoussoukro. Blanks, duplicates, and certified reference material (standards) are being used to monitor laboratory performance during the analysis.

Mineralized Interval Calculations

Significant intervals reported in this news release are calculated as downhole length-weighted intercepts. For the Fremen 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 0.2 g/t Au, 0.5 g/t Au, and 1 g/t Au trigger values, with up to 3 metres of internal waste. Table 1 contains a list of all Fremen holes reported in this release. True widths are unknown from this early-stage percussion RC drill program.

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

Au	Gold
g/t	Grams per tonne
km	Kilometre
m	Metre
RC	Reverse circulation

 

AWALÉ Resources Limited
On behalf of the Board of Directors

"Andrew Chubb"
Chief Executive Officer

FOR FURTHER INFORMATION, PLEASE CONTACT:
Andrew Chubb, CEO
(+356) 99139117
a.chubb@awaleresources.com

Ardem Keshishian, VP Corporate Development
+1 (416) 471-5463
a.keshishian@awaleresources.com

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/272307

FAQ

What did Awalé (AWLRF) announce on October 29, 2025 about Fremen?

Awalé reported RC assays confirming near-surface gold mineralization across an ~8 km trend and a 5 km southern extension.

How much drilling did Awalé complete at Fremen in the October 2025 scout program?

The scout program comprised 22 holes totaling 2,430 m of RC drilling.

What were the notable assay results from Awalé's Fremen drilling (AWLRF)?

Notable intersections include 7 m @ 0.6 g/t Au, 14 m @ 0.4 g/t Au and 5 m @ 1.3 g/t Au with a peak of 1 m @ 4.6 g/t Au.

When will Awalé start follow-up drilling at Fremen after the October 29, 2025 release?

The company said diamond drilling is set to begin in November 2025 to follow up the RC results.

How is Awalé funded to advance the Odienné Project and Fremen target?

Awalé reported a cash position of approximately C$15 million to fund ongoing exploration.

What larger drilling program does Awalé plan across Odienné (AWLRF)?

Awalé plans a 100,000 m regional drill program scheduled to commence after the rainy season with up to five rigs.