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New Alliance Prospect Delivers a Further 3km of Strike to the Empire Gold Trend Odienné Project Cote d’Ivoire

Vancouver, BC, September 22, 2021 - Awalé Resources Limited (“Awalé” or the “Company”) (TSXV: ARIC) is pleased to announce that a significant new surface gold anomaly has been defined from termitaria sampling at the Alliance Prospect, Empire Corridor, Odienné Project (Figures 1 and 2). The Alliance Prospect extends the known strike extent of the Empire mineralized trend by 3km to >6km.

Highlights:

  • New 1km long, >100 part per billion (“ppb”) surface gold (“Au”) anomaly has been defined from termitaria sampling at the Alliance Prospect, Empire Corridor. Peak gold value returned was 441ppb (Figure 3). 
  • The 100ppb surface Au anomaly lies within a larger (3km in length), > 15ppb Au anomaly. Mineralization is open both along strike and to the north.

The Alliance Prospect mirrors the Empire Main discovery in a similar ‘pressure shadow’ structural position on the opposite side of a late intrusive body (the “Rebel Intrusion”) emplaced along the northern margin of the Empire structural corridor (Figure 2).  Approximately 50% of results have now been returned from a larger 1,340 sample 400x100m termitaria survey along the Empire Corridor. Descriptive statistics from results returned are shown in Table 1.

View Attached Figures: http://www.awaleresources.com/_resources/maps/2021-09-20-Figures-Alliance-Target-Geochmistry-Final.pdf

Company CEO Glen Parsons commented today:

“It is very pleasing to see new gold anomalies continuing to be uncovered through the team’s focussed and systematic exploration approach at the Odienné project. Our work continues to not only reveal new gold and gold/copper anomalies, but also confirms the highly prospective nature of the Odienné project and its camp scale potential in different settings.

The Empire Corridor continues to reveal itself as a significant gold bearing fluid pathway at Odienné, with significant potential to build ounces to the already robust foundation of the Empire Main discovery. The Alliance Target lies to the east along the northern boundary of Empire Corridor and has the same scale and tenor geochemical footprint as the Empire Main discovery. The team is fast tracking Alliance to a drill ready status.

Furthermore, this new anomalism compliments the exciting 5km long Sceptre copper, gold anomaly approximately 10km to the NW of the Alliance target where we focus on the IOCG style Charger mineralization.

We look forward rapidly developing and advancing these targets.”

Table 1: Descriptive statistics for Empire Corridor Termitaria.

Number of samples 1341 Percentile 80 8
Min 0 Percentile 90 16
Max 441 Percentile 95 28
Mean 8.8 Percentile 98 72
Percentile 70 5 Percentile 99 102

Quality Control and Assurance

Analytical work for auger/soil and termitaria geochemical samples is being carried out at the independent Intertek Laboratories Australia Ltd. an ISO 17025 (2017) Certified Laboratory. Samples are stored at the Company’s field camps and put into sealed bags until collected by Intertek from the Company’s secure Bondoukou or Odienné office and transported by Intertek to their laboratory in Tarkwa, Ghana for preparation. Samples are logged in the tracking system, weighed, dried and pulverized to better than 85%, passing a 75-micron screen, this pulp sample is then shipped to Australia where 10-gram split is analysed by ICP/MS with an Aqua Regia digest. Blanks, duplicates and certified reference material (standards) are being used to monitor laboratory performance during the analysis.

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 Operating 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 Geologists (SEG). Mr Chubb has 18 years of experience in international minerals exploration and mining project evaluation.

ON BEHALF OF THE BOARD

AWALE RESOURCES LIMITED.

“Glen Parsons”

Glen Parsons, President and CEO

For additional information you are invited to visit the Awalé Resources Limited website at www.awaleresources.com, or contact Karen Davies, Head of Investor Relations at Tel: 604.314.6270

End

Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable securities laws. Readers are cautioned not to place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by such information. The statements in this news release are made as of the date hereof. The Company undertakes no obligation to update forward-looking information except as required by applicable law.

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