Awalé defines 4-kilometre gold target at Seydou; drilling underway at Fremen

Awalé Defines New 4-Kilometre Gold Target at 100%-Owned Seydou Permit; Drilling Underway at the Fremen Discovery

Highlights:

Seydou - A new 100%-owned gold target: Termitaria and soil geochemistry have defined a new coherent gold anomaly ("Anomaly 1") over approximately 4 kilometres on Awalé's wholly owned Seydou permit, with peak values of 514 ppb Au in termitaria and 214 ppb Au in soil.

Right geological setting: Anomaly 1 lies along a regional-scale structure at the margin of a granitoid intrusive body, within a geological setting comparable to the BBM, Charger, and Fremen discoveries.

Drilling underway: Aircore program to test 2 kilometres of the anomaly, to be completed before the onset of the wet season.

Fremen follow-up drilling: Diamond drilling is underway following the May 2026 discovery, including previously reported intercepts of 1.9 g/t gold over 17m from 6m and 1.1 g/t gold over 17m from 113m.

Sama permit: 4,419 termite mound samples collected; sampling programs ongoing.

Updated 100%-owned exploration plan: In mid-September, Awalé will detail its updated and accelerated exploration plan for its 100%-owned properties at Odienné, setting out our systematic exploration plan.

Toronto, Ontario--(Newsfile Corp. - August 20, 2026) - Awalé Resources Limited (TSXV: ARIC) (OTCQX: AWLRF) (FSE: 2F60) (" Awalé " or the " Company ") is pleased to announce a new gold target on the Seydou permit and provide an update on ongoing diamond drilling at the Fremen gold discovery, both located on Awalé's 100%-owned properties within the broader Odienné Project (" Odienné " or the " Project ") in Côte d'Ivoire (see Figures 1 to 3).

Systematic termitaria and soil geochemistry have defined Anomaly 1, a coherent gold anomaly extending approximately 4 km of strike on wholly owned ground. The anomaly was generated using the same systematic, geology-led geochemical sampling that vectored Awalé to the BBM and Fremen discoveries. The target now advances as a priority drill ready target within the Company's growing 100%-owned target pipeline with a 1,500m air core drill program underway over approximately 2 km of this trend. In parallel, diamond drilling has commenced at Fremen following the May 2026 discovery.

"This new gold target on our 100%-owned Seydou permit is exactly the kind of result our systematic exploration model is designed to generate. It is a substantive four-kilometre gold anomaly with geological and geochemical signatures comparable to those that led us to BBM and Fremen. Anomaly 1 has shifted up the ranking order and is now a drill ready target, underlining the discovery potential that sits within our wholly owned ground," said Andrew Chubb, President and CEO of Awalé Resources.

"At the same time, we continue to advance the Fremen target and generating new targets across our 100%-owned Sama and Sienso permits. With a $36.5 million treasury, Awalé has never had more ways to create value across the Odienné district."

In mid-September, the Company will outline an updated and accelerated exploration plan for its 100%-owned properties within the Odienné Project. With a $36.5 million treasury, Awalé has a mandate to focus grassroots exploration on the 1,542 km 2 of underexplored ground which lies on the same trend as our BBM and Charger discoveries as well as the Predictive Discovery's Bankan Gold Project to the west and the Resolute Mining's ABC Project to the south.

Link to all figures

Background on the Seydou Permit

A 4,098-sample termite mound and soil sampling program, completed on a 400 to 200-metre line spacing, has delineated surface gold anomalism along an approximately 4-kilometre structural trend interpreted from high-resolution magnetic geophysics. Peak values of 161 and 514 ppb Au occur within a broader +10 ppb Au footprint, similar in tenor to initial sampling at the BBM deposit and Lando, Fremen, and Fett targets, which all occur along the same regional-scale structural corridor (see Figure 2). A 24-hole, approximately 1,500-metre AC program is underway to test for shallow, in situ mineralization across approximately 2 km of the trend.

The anomaly follows an east-west structure that is interpreted to be a second or third order splay along a regional-scale shear zone and domain boundary. The splay is south and north of large granitoid intrusive rocks which potentially can be either a rheologic control or source to gold mineralization. At this locality, the regolith variable in thickness and more complex than that observed to the south and east within the Odienné East, West permits. The initial scout drilling is therefore expected to improve the Company's understanding of the regolith profile while also testing for in situ gold mineralization.

Background on the Fremen Target

A seven-hole, approximately 1,600-metre diamond "framework" drilling program is designed to step out from the discovery line and establish strike and down-dip continuity. The program will test approximately 300 metres of strike and 200 metres down dip, while improving the Company's understanding of the geology and tenor of mineralization. Positive results would support further step-out drilling to expand the Fremen mineralized system and assess its for volume potential.

Stronger gold mineralization at Fremen is located at a major flexure along a regional-scale shear zone, where the host structure changes from a northwest to a north-south trend. A large granitoid intrusive body flanks this structure to the east. Like BBM, mineralization is hosted within intrusive rocks, but with a higher metamorphic grade. This package is later intruded by a series of felsic to intermediate dykes with a similar composition to those observed at the Charger target, these dykes are also mineralized.

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.

In addition to the current resource base defined on the joint venture ground, Awalé controls a 1,542 km 2 100%-owned land position across the broader Odienné district, where multiple targets provide additional potential discovery upside. Across the Project, Awalé has identified multiple gold and gold-copper systems and continues to build a pipeline of targets with potential to support further discoveries and resource growth.

The Odienné Project covers 2,338 km 2 across seven permits, including 797 km 2 held under the Awalé-Newmont Joint Venture. Awalé manages exploration activities across the joint venture area.

With a skilled and experienced technical team, together with support from three strategic shareholders, Awalé is advancing exploration in an underexplored and pro-mining jurisdiction with clear potential for district-scale discoveries.

Quality Control and Assurance

Approximately 3 kg Soil and Termite samples were collected on a 400 & 200 metre spacing and sieved to a -80 mesh fraction. These were then stored at the secure Awalé camp before collection by Intertek Laboratories.

Analytical work for all samples is being carried out at the independent Intertek Laboratories in Ghana, an ISO 17025 Certified Laboratory. Samples are prepared and stored at the Company's field camps and put into sealed bags and transported to Intertek secure facility in Yamoussoukro Côte d'Ivoire for preparation and subsequent shipment and analysis in Ghana. 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 returned to the Company for multielement analysis by portable XRF a second analyzed by fire assay with AAS finish at Intertek Ghana. 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 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

FOR FURTHER INFORMATION, PLEASE CONTACT:

Andrew Chubb, CEO (+356) 99139117 a.chubb@awaleresources.com

Ardem Keshishian, VP Corporate Development +1 (416) 471-5463 a.keshishian@awaleresources.com

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 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 receipt of TSXV approval for the appointment Mr. Dorfman to the board and the grant of the Options, 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, failure to receive TSXV approval for the appointment Mr. Dorfman to the board and the grant of the Options, 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, including detailed assumptions and methodology, is 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/310523

TMX Newsfile

August 20, 2026 - 4:00 AM PDT

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