CEO.CA Chairman's Briefing

Highlights

• Significant intercepts include:
  • 52.8 g/t gold over 9m from 354m, including 78.9 g/t gold over 6m (CHDD-03)
  • 10.6 g/t gold over 7m from 320m, including 57.2 g/t gold over 1m (CHDD-02)
  • 17.6 g/t gold over 4m from 297m (CHDD-04), and
  • 3.8 g/t gold over 19m from 305m, including 28.4 g/t gold over 1m (CHDD-04)
  • 2.7 g/t gold over 20m from 303m, including 6.0 g/t gold over 4m (OEDD-170)
• High-grade intercept of 52.8 g/t gold over 9m is open to the northeast and down-plunge, pointing to a potential new hinge zone similar to the OEDD-83 discovery.
• Results from 11 other step-down holes to 400m are pending.
• Further expansion drilling planned at both Charger 1 and Charger 2, with 9 drill rigs currently operating across Odienné.

Toronto, Ontario--(Newsfile Corp. - January 29, 2026) - Awalé Resources Limited (TSXV: ARIC) (OTCQX: AWLRF) (FSE: 2F60) ("Awalé" or the "Company") is pleased to announce new step-down drilling results from the Charger target at its Odienné Project ("Odienné" or the "Project") in Côte d'Ivoire. The results confirm strong down-plunge continuity of the high-grade gold system and extend mineralization toward the northeast (see Figures 2 and 3).

"This new intercept of 52.8 g/t gold over 9 metres in hole CHDD-03 remains open to the northeast and may signal the emergence of another high-grade hinge zone, analogous to that interpreted at OEDD-83, which returned 26 g/t gold over 56 metres in late 2024. The growing evidence of continuity in high-grade mineralization is highly encouraging.

These results mark the first assays from Awalé's 2026 resource development drilling program at Charger, BBM, and Empire, part of a planned 100,000-metre campaign. Charger continues to deliver standout results, reinforcing Awalé's confidence in the scale and quality of the Odienné Project. With multiple targets advancing in parallel, including BBM, Empire, and our 100%-owned targets, we anticipate a sustained pipeline of high-impact news flow," said Andrew Chubb, President and CEO of Awalé.

Link to All Figures

Watch Video of CEO Andrew Chubb Discussing New Results from Charger 1

Link to Core Photos

Charger Step-Down Drilling

These six holes form part of a 17-hole resource drilling phase designed to support an initial mineral resource estimate for the Charger target. This program is testing down-plunge continuity of the high-grade system to a depth of 400 metres below surface.

The holes reported in this release are located approximately 140 metres down-plunge from the original Charger discovery hole, OEDD-83, which returned 57m @ 26 g/t Au (see March 25, 2024 news release). Holes OEDD-169, OEDD-170, CHDD-01, CHDD-02, and CHDD-04 were drilled on this level. Hole CHDD-03 was drilled a further 40 metres down-plunge and returned 52.8 g/t Au over 9 metres. Results from additional holes on this level and the 2 levels below are pending.

Drilling to date has demonstrated continuity of a steep, southwest-plunging high-grade gold breccia and vein system. Mineralization in these holes is similar in geology to intercepts in holes OEDD-148 and OEDD-146 (see June 25, 2025 news release), characterized by increasing amounts of silica and potassic alteration in both the wall rock and infill.

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 1: Significant Intercepts from Diamond Drilling - (from this release)

Table 2: Charger Drill Collar Details - (all collars from this release)

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 ALS 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 Charger target, initial mineralized zones are calculated at a 0.5 g/t Au trigger and include up to 3 metres of internal waste for delineating mineralized zones. Included intervals are calculated at 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 Charger holes reported in this release. True widths are estimated to be 70% of the downhole widths. Holes not reported do not make the 0.5 g/t Au grade trigger.

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.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/282023