Awalé Extends BBM Along Strike and at Depth with 47 Metres of 2.2 g/t AuEq. Outside the Resource and Intersects 44 Metres of 3.1 g/t AuEq. near Surface

The northwest extension lies outside the current resource, while assays remain pending for deeper drilling and open-pit resource holes.

Rhea-AI Summary

Awalé Resources (AWLRF) reported drilling that extends BBM gold-copper mineralization outside its current mineral resource at the Odienné Project in Côte d’Ivoire. Hole BBDD-33 intersected 47 metres at 2.15 grams per tonne gold equivalent (AuEq.) from 589 metres downhole, including 3 metres at 10.31 g/t AuEq. The extension lies approximately 400 metres below surface and 200 metres along strike from the main high-grade shoot, toward the northwest.

Within the open-pit resource, BBDD-47 returned 44 metres at 3.11 g/t AuEq. from 154 metres downhole. Below-pit hole BBDD-39 returned 67 metres at 1.96 g/t AuEq. from 479 metres downhole. Results cover seven holes; assays remain pending for eight deep holes testing the high-grade core to approximately 600 metres vertical depth and 57 open-pit resource holes. Awalé is finalizing its 2026/2027 exploration program.

9 points · 0 major

PositiveiHow this balance works

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0 major · 3 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Moderate pointBBDD-33 extends mineralization outside the resource, approximately 200 metres along strike and 400 metres below surface.
• Minor pointBBDD-33 returned 47 metres at 2.15 g/t AuEq., including 3 metres at 10.31 g/t AuEq.
• Minor pointBBDD-47 returned 44 metres at 3.11 g/t AuEq. within the open-pit resource, including 22 metres at 4.03.
• Minor pointBBDD-39 returned 67 metres at 1.96 g/t AuEq. below the pit, including 27 metres at 2.65.
• Minor pointBBDD-36 intersected 25 metres at 1.56 g/t AuEq., including 15 metres at 2.06 g/t AuEq.

4 minor points

• Minor pointBBDD-38 intersected 11 metres at 1.14 g/t AuEq., including 3 metres at 2.63 g/t AuEq.
• Minor pointBBDD-35 intersected 9 metres at 0.74 g/t AuEq., including 1 metre at 2.47 g/t AuEq.
• Minor pointBBDD-34 intersected 7 metres at 0.85 g/t AuEq. from 400 metres downhole.
• Minor point. Forward-looking: it has not happened yet and may not happen.Awalé is finalizing its 2026/2027 exploration program, designed to pursue further district discoveries.

Negative

• Minor pointDeep drilling results remain pending for eight holes testing the core to approximately 600 metres vertical depth.
• Minor pointOpen-pit resource drilling assays remain pending for 57 holes.
• Minor pointCharger II and Charger I expansion results, Seydou RC results and Sienso diamond-drilling results remain pending.

News Explained

Awalé reports BBM intercept lengths as downhole measurements and estimates their true widths at 70% to 80% of those lengths, depending on hole deviation; the reported metres therefore exceed the estimated true widths.

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Highlights

• BBM extended at depth, outside the current Mineral Resource in hole BBDD-33, approximately 400m below surface and 200m along strike from the main high-grade shoot, opening mineralization toward the northwest.

  • BBDD-33 intersected 2.2 g/t AuEq. over 47m from 589m downhole, including 3.3 g/t AuEq. over 15m and 10.3 g/t AuEq. over 3m.

• Higher-grade gold-copper near surface.

  • BBDD-47 returned 3.1 g/t AuEq. over 44m from 154m downhole, including 4.0 g/t AuEq. (3.2 g/t Au, 0.83% Cu) over 22m, within the open-pit Mineral Resource.

• Below pit drilling returns significant widths and grade.

  • BBDD-39 returned 2.0 g/t AuEq. over 67m from 479m downhole, including 2.7 g/t AuEq. over 27m.

• Substantial pipeline pending. Assays are pending for eight deep holes testing BBM's high-grade core to approximately 600m vertical depth, and for 57 resource holes within the open-pit Mineral Resource.

Toronto, Ontario--(Newsfile Corp. - October 7, 2026) - Awalé Resources Limited (TSXV: ARIC) (OTCQX: AWLRF) (FSE: 2F60) ("Awalé" or the "Company") is pleased to report assay results from seven diamond drill holes at the BBM gold-copper deposit on the Odienné Gold-Copper Project ("Odienné" or the "Project") in Côte d'Ivoire. The results extend BBM's high-grade mineralization to approximately 200 metres along strike at 400 metres below surface. This new mineralization sits outside the current Mineral Resource, and shows that thick, continuous mineralization persists along strike and mineralization remains open. Combined with strong near-surface intercepts such as those returned in BBDD-47, drilling continues to build the scale of BBM as it moves toward becoming a meaningful gold-copper deposit.

"BBM continues to deliver the width, grade, and continuity we need to build a meaningful deposit. Most importantly, BBDD-33 has extended high-grade mineralization at depth and along strike from the current Mineral Resource, reinforcing the underground potential of the target. With eight additional deep holes pending, we look forward to continuing to define the full extent of the system," stated Andrew Chubb, President and CEO of Awalé.

"We have significant news flow ahead for Awalé. As laboratory turnaround times improve, we expect further results from the Odienné Joint Venture, including the remaining BBM deep holes, BBM resource conversion drilling, as well as the Charger II and Charger I expansion programs. On our 100%-owned ground, RC results from Seydou and diamond drilling results from Sienso are also pending. At the same time, we are finalizing our 2026/2027 exploration program, which is designed to deliver the next generation of discoveries across the district."

Link to All Figures

Watch Video of CEO Andrew Chubb Discussing the News Release

The seven holes reported in this release are the first of a further seventy-two holes drilled below and within the open pit Mineral Resource at BBM. The deep diamond program was designed to test strike extensions to the northwest (NW) and southeast (SE) and to extend BBM's high-grade core to an initial vertical depth of 600 metres below surface. Assays for the remaining eight deep holes are pending (see plan map and long section in Figures 2 and 3).

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

Hole ID	From (m)	To (m)	Length (m)	Au (g/t)	Cu (%)	Ag (g/t)	Mo (ppm)	AuEq. (g/t)	Comp. Trigger (AuEq. g/t)
BBDD0033	363.00	368.00	5.00	0.59	0.17	0.63	10	0.75	0.50
	378.00	381.00	3.00	0.42	0.22	0.78	70	0.64	0.50
	388.00	392.00	4.00	0.43	0.25	1.08	59	0.68	0.50
	423.00	432.00	9.00	0.35	0.25	0.76	295	0.59	0.50
	438.00	475.00	37.00	0.47	0.29	0.73	163	0.76	0.50
	589.00	636.00	47.00	1.69	0.46	2.24	222	2.15	0.50
including	589.00	604.00	15.00	2.90	0.40	2.11	53	3.29	1.50
and	601.00	604.00	3.00	9.75	0.56	3.00	69	10.31	3.00
and	608.00	612.00	4.00	1.27	0.54	2.12	257	1.81	1.50
and	620.00	636.00	16.00	1.63	0.73	3.52	324	2.36	1.50
and	622.00	624.00	2.00	2.46	0.98	4.16	665	3.43	3.00
and	633.00	635.00	2.00	3.22	1.19	6.07	209	4.41	3.00
BBDD0034	277.00	278.00	1.00	0.06	1.50	5.39	9	1.55	0.50
	384.00	391.00	7.00	0.33	0.24	0.61	105	0.56	0.50
	395.00	396.00	1.00	0.39	0.24	0.56	59	0.63	0.50
	400.00	407.00	7.00	0.43	0.42	1.60	290	0.85	0.50
	412.00	415.00	3.00	0.47	0.35	1.36	342	0.81	0.50
BBDD0035	419.00	421.00	2.00	0.37	0.23	1.12	313	0.60	0.50
	446.00	447.00	1.00	0.65	0.28	0.72	56	0.93	0.50
	480.00	489.00	9.00	0.48	0.26	0.79	88	0.74	0.50
including	480.00	481.00	1.00	1.72	0.75	2.72	168	2.47	1.50
	495.00	498.00	3.00	0.37	0.37	1.71	278	0.74	0.50
BBDD0036	517.00	519.00	2.00	0.31	0.23	1.28	389	0.53	0.50
	534.00	537.00	3.00	1.32	0.26	1.46	879	1.57	0.50
including	535.00	536.00	1.00	2.98	0.42	2.34	588	3.39	3.00
	542.00	559.00	17.00	0.50	0.17	0.77	114	0.66	0.50
	563.00	587.00	24.00	0.67	0.17	0.66	65	0.84	0.50
including	565.00	566.00	1.00	2.16	0.30	1.34	143	2.46	1.50
and	575.00	578.00	3.00	1.57	0.25	1.10	105	1.82	1.50
and	584.00	585.00	1.00	1.56	0.20	0.78	104	1.76	1.50
	591.00	616.00	25.00	1.19	0.38	0.92	159	1.56	0.50
including	599.00	614.00	15.00	1.55	0.51	1.21	186	2.06	1.50
and	607.00	608.00	1.00	2.33	0.84	2.16	168	3.16	3.00
BBDD0038	435.00	446.00	11.00	0.79	0.36	1.01	160	1.14	0.50
including	435.00	438.00	3.00	2.30	0.33	1.12	57	2.63	1.50
and	436.00	437.00	1.00	2.65	0.46	1.43	37	3.11	3.00
	450.00	453.00	3.00	0.54	0.49	1.20	67	1.03	0.50
	491.00	493.00	2.00	1.02	0.19	1.54	3	1.21	0.50
BBDD0039	439.00	440.00	1.00	0.69	0.02	0.14	3	0.71	0.50
	454.00	455.00	1.00	1.88	0.00	0.83	3	1.88	0.50
	473.00	474.00	1.00	0.46	0.06	0.28	261	0.51	0.50
	479.00	546.00	67.00	1.64	0.32	1.13	235	1.96	0.50
including	479.00	506.00	27.00	2.21	0.45	1.56	326	2.65	1.50
and	481.00	482.00	1.00	2.64	0.72	3.03	461	3.36	3.00
and	487.00	497.00	10.00	2.94	0.61	1.77	447	3.54	3.00
and	503.00	505.00	2.00	3.86	0.28	1.06	158	4.14	3.00
and	511.00	513.00	2.00	1.52	0.27	0.80	312	1.78	1.50
and	523.00	524.00	1.00	4.71	0.37	1.70	41	5.08	3.00
and	528.00	544.00	16.00	1.98	0.35	1.13	284	2.33	1.50
and	528.00	529.00	1.00	3.00	0.48	1.68	131	3.48	3.00
and	533.00	534.00	1.00	3.04	0.44	1.12	130	3.48	3.00
and	538.00	541.00	3.00	2.83	0.39	1.27	347	3.22	3.00
BBDD0047	119.00	121.00	2.00	2.12	0.26	1.17	56	2.39	0.50
	135.00	137.00	2.00	2.28	0.04	0.30	40	2.31	0.50
including	135.00	136.00	1.00	4.08	0.02	0.09	19	4.10	3.00
	141.00	142.00	1.00	0.36	0.16	0.53	68	0.52	0.50
	154.00	198.00	44.00	2.52	0.60	2.40	563	3.11	0.50
including	156.00	178.00	22.00	3.20	0.83	2.94	827	4.03	1.50
and	188.00	196.00	8.00	4.06	0.52	3.50	269	4.58	1.50

 

Table 2: BBM Drill Collar Details – (all collars from this release)

Hole ID	Easting	Northing	RL (m)	Azimuth_True	Dip	EOH (m)
BBDD0033	655265	1048181	424.9	30.7	-62.7	674.2
BBDD0034	656024	1047734	419.0	30.6	-62.0	470.8
BBDD0035	655953	1047727	418.6	30.1	-62.8	557.8
BBDD0036	655601	1047994	421.9	28.4	-64.7	728.8
BBDD0038	655524	1048550	415.9	210.5	-61.8	572.9
BBDD0039	655659	1047954	418.8	29.4	-58.8	632.9
BBDD0047	656003	1047969	418.1	33.4	-53.8	221.4

 

About Awalé Resources

Awalé Resources is a diligent and systematic mineral exploration company focused on discovering large-scale gold and gold-copper deposits in Côte d'Ivoire. The Company's flagship Odienné Project now hosts an initial inferred Mineral Resource Estimate¹ of 1.71 million ounces gold equivalent across the BBM, Charger, and Empire deposits (32.4 Mt at 1.33 g/t Au and 0.33% Cu), providing a strong foundation for ongoing growth and future economic studies.

In addition to the current resource base defined on the joint venture ground, Awalé controls a 1,542 km² 100%-owned land position across the broader Odienné district, where multiple targets provide additional potential discovery upside. Across the Project, Awalé has identified multiple gold and gold-copper systems and continues to build a pipeline of targets with potential to support further discoveries and resource growth.

The Odienné Project covers 2,338 km² across seven permits, including 797 km² held under the Awalé-Newmont Joint Venture. Awalé manages exploration activities across the joint venture area.

With a skilled and experienced technical team, together with support from three strategic shareholders, Awalé is advancing exploration in an underexplored and pro-mining jurisdiction with clear potential for district-scale discoveries.

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.

Mineralized Interval Calculations

Significant intervals reported in this news release are calculated as downhole length-weighted intercepts of original samples with no top cut. For the BBM target, initial mineralized zones are calculated at a 0.5 g/t AuEq. trigger and include up to 3 metres of internal waste for delineating mineralized zones. Ag and Mo are reported only and are not included in AuEq. Included intervals are composited at 1.5, 3 g/t AuEq. Table 2 contains a list of all BBM holes reported in this release. True widths are estimated to be 70% to 80% of the downhole widths depending on measured hole deviation. Holes or intervals not reported do not make a 0.5 g/t AuEq. grade trigger.

Gold Equivalent Calculation for BBM Deposit

Gold equivalent has been calculated using assumptions from metallurgical test work (see September 15, 2026 news release). Assumptions are as follows; Au US$3,000/oz (US$96.49/g) @ 90% recovery, Cu US$4.34/lb (US$93.34/%) @ 92% recovery. Ag and Mo are reported only and are not included in AuEq. Composited at 0.5, 1.5, 3 g/t AuEq. triggers with a maximum 3m of consecutive internal waste and a 1m minimum intercept length; waste intervals are not included.

Gold equivalent equation: AuEq. g/t = (1.00 × Au g/t) + (0.995207 × Cu %)

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

Ag	Silver
Au	Gold
AuEq.	Gold equivalent
Cu	Copper
g/t	Grams per tonne
km	Kilometres
m	Metres
Mo	Molybdenum
ppm	Parts per million
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 applicable Canadian securities laws (collectively, "forward-looking statements"). Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, plan, propose, potential, postulate, target, continue, advance 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, the Company's presence in Côte d'Ivoire and ability to achieve results, creation of value for Company shareholders, achievements under the Newmont exploration agreement, advancement and expansion of the Odienné Project, the potential size, scale and quality of the mineral resource estimate at BBM, Charger and Empire, the conversion or upgrading of inferred mineral resources, timing and results of future drilling programs, resource expansion potential at BBM, Charger and Empire, and exploration and discovery potential at Fremen and other targets, the potential for additional discoveries, expectations regarding the timing and completion of a preliminary economic assessment and advancement toward pre-feasibility studies, timing for receipt of assay results, commencement and continuation of operations, and the potential development of the Odienné Project. Although the Company believes the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations and assumptions will prove to be correct. Factors that could cause actual results to differ materially from forward-looking information include, but are not limited to, the results of exploration and drilling programs, the interpretation of exploration and mineral resource results, changes in mineral resource estimates, the ability to convert inferred mineral resources to indicated mineral resources, the ability to complete future economic studies, fluctuations in commodity prices, changes in the state of equity and debt markets, delays in obtaining required regulatory, governmental, environmental or other project approvals, availability of financing, and the other risks involved in the mineral exploration and development industry, including those risks set out in the Company's management's discussion and analysis and other continuous disclosure documents filed under the Company's profile at SEDAR+ 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, without limitation, that all necessary governmental and regulatory approvals will be received as and when expected, that financing will be available on reasonable terms, and that exploration, development and study activities will proceed as currently planned. Although the Company believes 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, whether as a result of new information, future events or otherwise, except 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.

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¹ The full Initial Mineral Resource Estimate news release dated May 19, 2026, including detailed assumptions and methodology, is available at www.awaleresources.com and SEDAR+ www.sedarplus.ca.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/317826

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Awalé’s BBM drilling find outside the current resource?

BBDD-33 intersected 47 metres at 2.15 g/t gold equivalent from 589 metres downhole outside the current mineral resource. The mineralization lies approximately 400 metres below surface and 200 metres along strike from the main high-grade shoot, extending toward the northwest.

What did Awalé’s near-surface BBM drilling return?

BBDD-47 returned 44 metres at 3.11 g/t gold equivalent from 154 metres downhole within the open-pit mineral resource. That interval includes 22 metres at 4.03 g/t gold equivalent, with 3.20 g/t gold and 0.83% copper.

How does Awalé calculate gold-equivalent grades at BBM?

BBM gold-equivalent grades combine gold and copper using AuEq. g/t = Au g/t + 0.995207 × Cu %. The assumptions are gold at US$3,000 per ounce with 90% recovery and copper at US$4.34 per pound with 92% recovery. Silver and molybdenum are reported separately and excluded from gold equivalent.

Are Awalé’s reported BBM drill intervals true widths?

The reported intervals are downhole lengths; true widths are estimated at 70% to 80% of those lengths, depending on measured hole deviation. Significant intervals use length-weighted original samples with no top cut, meaning high assay values are not capped.