Highlights

• Broad gold-copper mineralization intersected, supporting the emerging underground potential at BBM.

• Results include*:

  • 2.4 g/t gold equivalent ("AuEq.") over 42m (42m @ 1.9 g/t gold and 0.57% copper) from 570m, including 4.2 g/t AuEq. over 10m (10m @ 3.7 g/t gold and 0.85% copper) from 600m (BBDD-21)

  • 2.2 g/t AuEq. over 31m (31m @ 1.7 g/t gold and 0.57% copper) from 654m, including 3.5 g/t AuEq. over 15m (15m @ 2.7 g/t gold and 0.9% copper) from 658m (BBDD-22)

• Step-out hole BBDD-27 returned 34m at 1.3 g/t AuEq. from 326m, supporting strike extension beyond the current MRE area and reinforcing the potential for a second parallel plunging shoot, with similar width and tenor to hole OEDD-93.

• Awalé is gaining confidence that the high-grade plunge at BBM continues to extend at depth, with potential for additional parallel zones.

• Mineral Resource Estimate targeted for Q2 2026, with incoming assays strengthening confidence in the scale and continuity of the BBM gold-copper system.

*All AuEq. grades calculated assuming 80% metallurgical recovery for all metals.

Toronto, Ontario--(Newsfile Corp. - March 16, 2026) - Awalé Resources Limited (TSXV: ARIC) (OTCQX: AWLRF) (FSE: 2F60) ("Awalé" or the "Company") is pleased to report additional assay results from its deep drilling at the BBM gold-copper discovery within the Odienné Project ("Odienné" or the "Project") in Côte d'Ivoire.

This drilling forms part of an 11-hole, 7,000-metre step-down and step-out program designed to test the down-plunge and northwest (NW) extension of BBM's higher-grade core and evaluate its underground potential down to an initial vertical depth of 600m. Assays for the remaining three holes are pending (see plan map and long section in Figures 2 and 3).

"There is confidence that the high-grade plunge at BBM extends at depth, with potential for additional parallel zones," stated Andrew Chubb, President and CEO of Awalé Resources.

"Results from the deep drilling program demonstrate that the BBM system remains strong at depth and has the potential to add meaningful scale to our initial Mineral Resource Estimate targeted for early Q2. Additionally, we are encouraged to see shallow, broad gold and copper mineralization returned from step-out hole BBDD-27, highlighting additional growth potential within parallel plunging shoots beyond the current MRE drilling area.

In addition to the remaining BBM drilling results, we expect to report results from Charger and Empire in the near term, along with updates from exploration programs from our 100%-owned Awalé permits."

Link to All Figures

Link to Core Photos

BBM Deep Drilling

The step-down diamond drilling program was designed to test the down-plunge extensions of BBM's high-grade core and evaluate the potential for an underground mineral resource. Results reported to date demonstrate continuity of the system to depths approaching 600 metres below surface and these results support the emerging underground potential of the BBM system.

Further step-out drilling will be planned to test the interpreted steepening of the higher-grade plunge as can be seen in the long section in Figure 3 as well as deeper drilling to extend the underground potential to a depth of 800m below surface. The gold, copper, and molybdenite mineralization is associated with a marked increase in strain intensity and silica-biotite alteration along a subvertical to south-southwest contact between a sheared granodiorite host against footwall metasediments and metavolcanics.

BBM NW Step-Out Drilling

A potential second shoot is interpreted from drill holes BBDD-27 and previously reported OEDD-93; both holes have returned similar intercepts (see Table 1). As the Company's understanding of the structural framework has progressed, a fold model controlling the plunge of the higher-grade mineralization at BBM has been developed. This is important at BBM as a fold model lends itself to the potential repetition of the same geometry as folding propagates along a structural trend. Near-surface resources, as well as the potential higher-grade second shoot, remain open to the NW and are priority exploration targets for follow-up drilling in 2026.

Table 1: Significant Intercepts from OEDD-93 and BBDD-27

Exploration on Awalé's 100%-Owned Permits

Concurrent exploration programs are underway across Awalé's 100%-owned permits. Intensive surface geochemistry programs are advancing at Seydou and Sama, while a 3,000-metre air-core program at the Fremen target (Sienso) is nearing completion. Positive results are expected to support follow-up percussion and diamond drilling across the broader Odienné land package with the purpose of making new discoveries.

Table 2: Significant Intercepts from Diamond Drilling - (from this release)

Table 3: BBM Drill Collar Details - (all collars from this release)

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.

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 BBM 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, 2 g/t Au, 5 g/t Au, and 10 g/t Au trigger values, with up to 3 metres of internal waste. Table 2 contains a list of all BBM holes reported in this release. True widths are estimated to be 70% of the downhole widths. Holes not reported do not make a 0.5 g/t Au grade trigger.

Au Equivalent Calculations

Au Equivalent is calculated using the following parameters in USD: Au - 1910/Oz (Troy), Cu 3.80/lb, Mo 40,000/Tonne, and Ag 23.40/Oz (Troy). The Formula AuEq = Au (g/t) + ((Cu (ppm) * 0.00014) + (Mo (ppm) * 0.00065) + (Ag (g/t)*0.01225)). An 80% metallurgical recovery is assumed for all metals, as the specific recovery rates for individual metals are unclear, and assuming different recoveries would be premature at this stage.

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.com. 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/288596

Source: Awale Resources Ltd.