Awalé Hits 36.2 g/t Gold over 6 Metres at Charger, Confirming High-Grade Gold Continuity to 400 Metres Below Surface

13:00 Uhr  |  Newsfile

Highlights:

• Significant intercepts at Charger 1 include:

  • 36.2 g/t gold over 6m from 475m, including 41.5 g/t gold over 5m (CHDD-17)

  • 10.3 g/t gold over 8m from 426m (CHDD-14)

  • 9.2 g/t gold over 5m from 413m (OEDD-10)

• Holes CHDD-14 and CHDD-17 extend high-grade gold mineralization down to 360m and 400m below surface at Charger 1, respectively.

• These holes, together with holes to be reported shortly, will be included in the Mineral Resource Estimate targeted for Q2 2026.

• Follow-up drilling is planned to test Charger 1 to at least 600 metres vertical depth, with additional step-outs at Charger 1 and Charger 2.

Toronto, March 31, 2026 - Awalé Resources Ltd. (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 build on those reported on January 29, 2026, and continue to confirm strong down-plunge continuity of the high-grade Charger 1 gold target and support the potential for future underground resource growth (see Figures 2 and 3).

"These deeper Charger 1 step-down results continue to demonstrate gold grade continuity in the breccia system to 400m below surface and reinforce our view that Charger is emerging as a robust underground target," stated Andrew Chubb, President and CEO of Awalé Resources.

"We are building confidence in the continuity of the Charger 1 system and its potential for further growth along strike and at depth as we advance toward an initial Mineral Resource Estimate targeted for Q2 2026. A further 8 holes remain to be reported for Charger 1, completing the drilling supporting our first MRE. With drilling now ramping up again, we are well positioned to continue growing Charger through the next quarter. In addition to ongoing work at Charger, we expect to report further assay results from BBM, Empire, and our 100%-owned targets in the near term."

Link to All Figures

Link to Core Photos

Watch CEO Andrew Chubb's Interview with Resource Talks

Charger Step-Down Drilling

Twelve holes from an expanded program at Charger (1 & 2) are still to be reported. The results from the 5 holes reported in this release partially complete a 17-hole resource drilling program supporting an initial Mineral Resource Estimate scheduled for Q2 2026, which will include the Charger, BBM, and Empire targets. The program tested the down-plunge continuity of the high-grade Charger 1 system to a depth of 400 metres below surface.

The holes reported in this release are located approximately 250 metres down-plunge from the original Charger discovery hole, OEDD-83, which returned 57 metres at 26 g/t gold (see March 25, 2024 news release). Holes CHDD-14 and CHDD-17 were drilled a further 40 and 80 metres down-plunge from CHDD-03, which returned 52.8 g/t gold over 9 metres (see January 29, 2026 news release). These results show continuity of high-grade gold mineralization down to a depth of 400m at Charger 1, which will be included in the initial mineral resource estimate. Drilling demonstrates continuity within a steeply southwest-plunging high-grade gold breccia and vein system and supports the emerging underground potential at Charger 1.

Follow-up drilling is planned to test the system to at least 600 metres vertical depth, while also stepping out to the northeast and southwest to evaluate potential strike extensions and additional mineralized zones.

Exploration Update on Awalé's 100%-Owned Fremen Target

Concurrent exploration programs continue to advance across Awalé's 100%-owned permits. At the Fremen target, the Company has completed a 116-hole air-core drill program for 3,639 metres and a six-hole diamond drill program totalling 1,222 metres.

This drilling followed up on a prior 22-hole RC program for 2,430 metres that targeted a greater than 4-kilometre-long gold-in-termite-mound anomaly, which returned peak values of 299 ppb gold. Assay results from the latest Fremen drilling are expected in late April and are intended to help guide follow-up percussion and diamond drilling across the broader Odienné land package.

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.

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