HIGHLIGHTS
- 12,000-metre discovery drill program on 100%-owned permits with C$15 million cash on hand.
- Up to 88,000-metre discovery and resource definition drill program on the Odienné East JV permit throughout 2025-2026.
- Drilling begins October 2025, targeting first Mineral Resource Estimate in 2026.
Toronto, Ontario--(Newsfile Corp. - October 3, 2025) - Awalé Resources Limited (TSXV: ARIC) (OTCQX: AWLRF) (FSE: 2F60) ("Awalé" or the "Company") is pleased to announce a proposed program of up to 100,000 metres of resource definition and discovery drilling, through 2026, at the Odienné Project ("Odienné" or the "Project") in Côte d'Ivoire.
This large-scale program is planned to position Awalé to deliver a first Mineral Resource Estimate and Preliminary Economic Assessment for the Project in Q2 2026 and to advance toward a Pre-Feasibility Study in 2027 encompassing the BBM, Charger, and Empire zones.
In parallel, Awalé is aggressively advancing a systematic exploration program on the recently granted Sama and Seydou permits, where discovery drilling is designed to unlock the Project's district-scale potential and generate the next wave of discoveries. These highly prospective permits lie within the same mineralized system and along strike from BBM, Charger, and Empire.
"We are very pleased to launch 100,000 metres of drilling at the Odienné Project, the program consists of a combination of resource development and discovery drilling that is designed to deliver the first resource estimate and preliminary economic study for the Project. We have an impressive inventory of discoveries demonstrating Odienné as a district-scale gold and copper mineralized system, and we have confidence in the potential for the Project to deliver new discoveries in our recently granted permits.
Awalé is well-financed and supported to achieve this ambitious program and we look forward to delivering new discoveries and our first resources in 2026," said Andrew Chubb, CEO of Awalé Resources.
Drilling is currently planned to commence after the rainy season in October 2025, with up to five (5) rigs expected on site and near-continuous drilling planned throughout 2026. Drilling on any JV claim has been planned and remains subject to Newmont's ongoing approval. The Company will provide shareholders with updates on specific targets, timelines, and results as the program advances.
The Company also anticipates publishing assay results from earlier drilling at Charger, BBM, and Fremen in the near term.
Figure 1: Odienné Project - Permits and Targets Map
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 manages all exploration activities over the OJV, with funding provided by Newmont Ventures Limited ("Newmont").
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 9913 9117
This email address is being protected from spambots. You need JavaScript enabled to view it.
Ardem Keshishian, VP Corporate Development
+1 (416) 471-5463
This email address is being protected from spambots. You need JavaScript enabled to view it.
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.
