Highlights

• 32.4 Mt grading 1.64 g/t gold equivalent ("AuEq.") for 1,707,000 ounces AuEq. inferred from combined open pit and underground resources, including 1,389,000 oz gold and 93,000 tonnes copper.
• Foundation resource for the Company with strong potential for growth.
• BBM forms the cornerstone deposit with combined open pit and underground resources of 27.8 Mt at 1.52 g/t AuEq. for 1.36 Moz AuEq.
• Charger defines a high-grade underground resource of 1.6 Mt at 4.64 g/t AuEq. for 232 koz AuEq.
• Empire contributes a near-surface open pit resource of 3.0 Mt at 1.23 g/t gold for 119 koz gold.

Toronto, Ontario--(Newsfile Corp. - July 3, 2026) - Awalé Resources Limited (TSXV: ARIC) (OTCQX: AWLRF) (FSE: 2F60) ("Awalé" or the "Company") is pleased to announce that it has filed the NI 43-101 Technical Report (the "Report") supporting the initial Mineral Resource Estimate ("MRE") for the Odienné Project ("Odienné" or the "Project") in Côte d'Ivoire, originally announced on May 19, 2026.

The Report is titled "Technical Report - Odienné Gold Project, Côte d'Ivoire - Report for NI 43-101." The Report was prepared by Mr. Galen White, BSc (Hons), FAusIMM, FGS and Dr. Andrew Bamber, Ph.D., P.Eng., of Bara Consulting (UK) Ltd., and Neal Reynolds, Ph.D., FAusIMM, MAIG, of RynnGeo Consulting Pty. Ltd. The Report has an effective date of April 1, 2026, a report date of July 3, 2026, and has been prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") and the Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") Definition Standards for Mineral Resources and Mineral Reserves.

The Report is available for review on both SEDAR+ (www.sedarplus.ca) and the Company's website (www.awaleresources.com). The filing of the Report does not result in any material changes to the MRE previously disclosed by the Company.

"Our initial Mineral Resource provides a strong foundation for the Odienné Project and is only the beginning. The Project remains at a relatively early stage of exploration and evaluation, with significant potential for additional discoveries and continued Mineral Resource growth through further drilling. With mineralization remaining open at all deposits and numerous prospective targets yet to be tested across both the joint venture and our 100%-owned properties, we believe the greatest opportunity lies in unlocking the full potential of the Odienné district," stated Andrew Chubb, President and CEO of Awalé Resources.

Link to the Odienné Project Technical Report

Watch Video of CEO Andrew Chubb Discussing Initial MRE (May 19, 2026)

Table 1: NI 43-101 Mineral Resource Estimate by Deposit - Odienné Project

Notes to the Mineral Resource Estimate:

1. Effective date of the Odienné MRE is April 1, 2026.
2. Tonnages are reported to the nearest 100,000t to reflect these as estimates.
3. Metal content is rounded to the nearest 1,000ozs (Au) and 1,000t (Cu) to reflect these as estimates.
4. A gold equivalence has been calculated which incorporates the following inputs; pricing of US$3,000/oz Au and US$4.34/lb Cu and gold recoveries of 94%, 91%, and 86% for Empire, Charger, and BBM respectively, and copper recoveries of 63%, 94%, and 93% for Empire, Charger, and BBM respectively, based on the averages of current metallurgical testwork results.
5. Au Equivalent equations; AuEq. g/t = (1 x Au) + (1.007324 x Cu%) for Charger and AuEq. g/t = (1 x Au) + (1.065793 x Cu%) for BBM.
6. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.
7. Tonnage is estimated by applying average SG by rock/mineralization type for each deposit, derived from a total dataset of 10,278 samples. Assigned SG's of 1.90 (saprolite), 2.75 (granodiorite, int volcanics), 2.82 (qtz breccia), 2.83 (metasediments, monzodiorite), and 2.86 (actinolite breccia) have been assigned to blocks in the models.
8. Open Pit Mineral Resources are reported above a cut-off grade of 0.32 g/t AuEq. within conceptual pit shells, and underground Mineral Resources report all blocks within conceptual volumes generated from mineable shape optimiser (MSO) software incorporating an in-situ cut-off grade of 1.28 g/t AuEq. at Charger and 1.34 g/t AuEq. at BBM, to support reasonable prospects for eventual economic extraction (RPEEE) as per the CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines prepared by the CIM Mineral Resource and Mineral Reserve Committee and adopted by the CIM Council on November 29, 2019. RPEEE assumptions and parameters, which the QP considers reasonable, are set out in the MRE news release and the NI 43-101 Technical Report, both of which are available at www.awaleresources.com and on SEDAR+ at www.sedarplus.ca.
9. The QP is not aware of any legal, permitting, title, taxation, socio-economic, marketing, political, environmental or other risk factors that might materially affect the estimate of Mineral Resources.

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 Estimate^[1] 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.

The Odienné Project covers 2,346 km² across seven permits, including 797 km² held under the Awalé-Newmont Joint Venture. Awalé manages exploration activities across the joint venture area, with funding currently provided by Newmont Ventures Limited under the Exploration Agreement signed in May 2022.

In addition to the current resource base defined on the joint venture ground, Awalé controls a substantial 100%-owned land position across the broader Odienné district, where multiple untested and early-stage targets provide additional potential discovery upside. Across the Project, Awalé 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, 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 used for this mineral resource estimate was carried out at both the following independent laboratories. Intertek Laboratories in Ghana and Australia, Laboratory, and ALS Laboratories in Ghana, Ireland and Canada, both ISO Certified Laboratories. Samples were prepared and stored at the Company's field camp in Odienné and put into sealed bags until collected by either ALS or Intertek from the Company's secure Odienné field office and transported to their respective preparation laboratories in Yamoussoukro, Côte d'Ivoire, for preparation. Samples are logged in their tracking systems, weighed, dried, and pulverized to greater than 85%, passing a 75-micron screen. Two pulps are prepared from each sample with one stream to the fire assay laboratory Ghana and a second to Australia, Canada or Ireland where the sample is analyzed by 52 element ICP/MS with a 4-Acid digest, some earlier ICP samples analyzed using an aqua regia digest rather than 4-acid. An ongoing QAQC program, incorporating blanks, duplicates, and certified reference material (standards) is 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.

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 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, 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 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.

^[1] The full Initial Mineral Resource Estimate news release dated May 19, 2026, and NI 43-101 Technical Report dated , including detailed assumptions and methodology, are 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/303909

Source: Awale Resources Ltd.