Awalé Launches 15,000-Metre Drill Program Targeting New Discoveries on 100%-Owned Permits

Rhea-AI Summary

Awalé Resources (OTCQX: AWLRF) launched a C$8.0 million fully funded exploration program on its 100%-owned permits at the Odienné Project, Côte d'Ivoire, through December 2026.

Key program elements: 15,000 metres of discovery drilling planned (including a 4,000-metre program at the Fremen target), 8 drill rigs active at Odienné with one rig dedicated to 100%-owned permits, detailed aerial magnetic and radiometric surveys completed at 100 m spacing, and >1,500 geochemical samples collected to date. The company reports ~$15 million in treasury to support spending.

Positive

• C$8.0M exploration budget for 2026
• 15,000 metres of drill testing on 100%-owned permits
• 4,000-metre drill program started at the Fremen target
• 8 drill rigs active at Odienné (one dedicated to 100%-owned permits)
• Detailed aerial magnetic and radiometric surveys completed at 100 m spacing

Negative

• Only one rig is exclusively assigned to 100%-owned permits, limiting parallel drilling capacity
• No Mineral Resource Estimate reported for the 100%-owned permits to date

HIGHLIGHTS

• 15,000 metres of discovery drilling underway on 100%-owned permits.
• $8 million exploration budget allocated for 2026 on 100%-owned permits, supported by approximately $15 million in treasury.
• Eight drill rigs are currently at Odienné, with one rig exclusive to 100%-owned permits.
• Detailed aerial magnetic and radiometric surveys completed to support exploration targeting.
• Four termite sampling teams active across the Sama and Seydou permits.
• The discoveries made to date are part of a regional-scale mineralized system that has not been fully explored.
• Dedicated Awalé exploration team focused on 100%-owned permits.

Toronto, Ontario--(Newsfile Corp. - December 16, 2025) - Awalé Resources Limited (TSXV: ARIC) (OTCQX: AWLRF) (FSE: 2F60) ("Awalé" or the "Company") is pleased to provide further details on its fully funded C$8 million exploration program through to December 2026 across its 100%-owned permits at the Odienné Project ("Odienné" or the "Project") in Côte d'Ivoire.

"Odienné is rapidly advancing toward our first Mineral Resource Estimate through the ongoing 88,000-metre drill program within the joint venture. In parallel, we have also established a dedicated exploration team for our 100%-owned ground that is actively building a robust discovery pipeline that we believe has the potential to contribute to a district-scale camp. The discoveries made to date are part of a regional-scale mineralized system that has not yet been fully explored. The Awalé team has built a strong track record of discovery through an innovative and disciplined approach to exploration, and we are now applying and expanding that same approach across our 100%-owned properties," commented Andrew Chubb, CEO of Awalé Resources.

C$8 Million Budget for 2026 on 100%-Owned Permits

Work programs include:

• Drilling: 15,000 metres of drilling are planned to test target geology generated from geophysics, geochemistry, and surface interpretation.
• Fremen target: 4,000-metre drill program has commenced and will continue over the more advanced Fremen target within the Sienso permit (see Figure 2).
• Scout drilling at Sama and Seydou scheduled for early 2026.
• Aerial geophysics: Detailed aerial magnetic and radiometric surveys at 100-metre line spacing have been completed to support litho-structural interpretation and target generation (see Figure 1).
• Geochemistry: Termite mound, soil, and stream sediment sampling are underway to locate and identify the "footprints" of mineralization at surface. Over 1,500 samples have been collected to date.

Link to All Figures

About Awalé's 100%-Owned Permits

Awalé holds three granted permits (Sienso, Sama, and Seydou) and has two additional permits under application, collectively covering approximately 1,550 km² of highly prospective greenfield exploration ground located along trend from the BBM, Charger, and Empire discoveries.

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.

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.

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/278203

FAQ

What is Awalé Resources' exploration budget for 2026 on 100%-owned permits (AWLRF)?

Awalé has allocated a C$8.0 million exploration budget for 2026 on its 100%-owned permits.

How many metres of drilling has Awalé planned on 100%-owned permits for 2026 (AWLRF)?

The program plans 15,000 metres of discovery drilling on 100%-owned permits.

What drilling work has started at the Fremen target on Awalé's Sienso permit (AWLRF)?

A 4,000-metre drill program at the Fremen target has commenced and will continue as part of the 2026 plan.

How is Awalé supporting target generation for the 2026 program (AWLRF)?

Awalé completed detailed aerial magnetic and radiometric surveys at 100 m line spacing and has collected over 1,500 geochemical samples.

How well funded is Awalé's 2026 program relative to treasury (AWLRF)?

The company reports approximately $15 million in treasury to support the C$8.0 million program.