Awale begins 15,000-metre drill program at Odienne

The most recent news, released on December 16, 2025, announces that Awale Resources Ltd. has launched a 15,000-metre discovery drill program on its 100%-owned permits at the Odienne project in Ivory Coast. This program is part of a larger, fully financed US$8-million exploration program planned through December 2026 for its wholly-owned ground. The company reports a treasury of C$15 million and has 8 drill rigs active at Odienne, servicing both its joint venture and 100%-owned programs. The CEO, Andrew Chubb, emphasizes the rapid advancement of the Odienne project towards its first mineral resource estimate through an ongoing 88,000-metre drill program within the joint venture, while the dedicated exploration team for the 100%-owned ground is building a robust discovery pipeline. The news highlights that discoveries made to date are part of a regional-scale mineralized system that has not yet been fully explored. Current activities include 4 termite sampling teams active and 1,500 samples collected to date across 1,550 square kilometres of 100%-owned permits.

This news is a positive operational update, confirming the execution of a previously announced component of Awale's broader exploration strategy. On October 3, 2025, the company announced a comprehensive 100,000-metre drill program through 2026, which included a 12,000-metre (now stated as 15,000-metre) discovery drill program on its 100%-owned permits, along with an 88,000-metre program on the joint venture ground. The most recent release confirms the commencement of this discovery drilling and reiterates the funding (C$15 million treasury) and the budget for the 100%-owned program (US$8 million through Dec 2026).

While the drill program size on the 100%-owned permits has slightly increased from the initially stated 12,000 meters to 15,000 meters, this is largely in line with expectations and indicates aggressive exploration. The confirmation of being "fully financed" for this segment of the program, backed by the stated C$15 million treasury, is positive for avoiding short-term capital raise concerns. The mention of 8 drill rigs active across the entire Odienne project signifies a high level of operational activity.

The news is a testament to the company's ability to execute its ambitious exploration plans and progress its wholly-owned assets in parallel with the joint venture. It does not introduce new discoveries or unexpected high-grade results, but rather affirms the ongoing systematic exploration outlined in previous updates. Therefore, it is a routine, positive development, validating the company's trajectory and commitment to creating a "district-scale camp."

Awale Resources Ltd. is a Canadian-based mineral exploration company primarily focused on the Odienne Project in Côte d'Ivoire, West Africa. The project is an emerging gold and copper district, covering a total area of 2,346 square kilometres across seven permits (five granted and two applications). The company's strategy involves advancing both its joint venture (JV) ground and its 100%-owned permits.

Flagship Project - Odienne Project: The Odienne Project hosts multiple gold, gold-copper, and gold-copper-silver-molybdenum mineralized systems, exhibiting characteristics similar to Iron Oxide Copper Gold (IOCG) and intrusive-related mineral systems. Key discoveries and targets include: * BBM Zone: A broad, consistent gold-copper mineralized system with a high-grade core that extends over 1 kilometre strike length and to at least 570 metres depth, remaining open. It shows significant potential for satellite targets. * Charger Zone: A high-grade breccia target hosted within a monzodiorite intrusion, delivering high-grade gold intercepts, with mineralization extended to 600 metres below surface and remaining open. New parallel zones have also been identified. * Empire Zone: Awale's first high-grade gold discovery, with drilling confirming the system remains open at depth and potential for expansion along strike. * Fremen Target (100%-owned): A new gold-in-termitaria footprint extending over 8-10 kilometres along strike from the BBM discovery, with confirmed near-surface mineralization. * Lando Target (100%-owned): A large 4-km-long copper-gold-molybdenum anomaly, with initial drilling confirming mineralization and showing potential for a new discovery. * Boba and Fett Targets (100%-owned): Newly defined targets north of the BBM trend, expanding the total BBM trend to over 15 kilometres.

The company's approach involves systematic groundwork, aggressive drilling campaigns, and leveraging geophysics and on-site labs to accelerate decision-making. The overarching goal is to define a Tier-1 scale district at Odienne, culminating in a first Mineral Resource Estimate and Preliminary Economic Assessment in Q2 2026, and advancing towards a Prefeasibility Study in 2027.