Awale starts 88,000-metre drill program at Odienne

Executive Summary

• Awale Resources Ltd. has commenced an 88,000-metre diamond drill program at its Odienne project in Ivory Coast, marking the largest drilling campaign to date for the Awale-Newmont joint venture.
• The program focuses on advancing three key targets—BBM, Charger, and Empire—toward an initial mineral resource estimate, while simultaneously conducting greenfield exploration across priority targets in the Odienne East and West permits.
• Initial results from the Charger target are expected before year-end, with a steady flow of results anticipated throughout the 2026 field season, culminating in a Preliminary Economic Assessment (PEA) in Q3 2026.

Key Details

• Program Scope: 88,000 metres of diamond drilling is currently underway, with four rigs operating and two additional rigs arriving in December to bring the total to six rigs.
• Target Strategy:
  • Charger: Strike-extension drilling targeting a second demagnetized zone to the southwest; initial infill drilling aims to establish an inferred resource down to 400 vertical metres. First results expected before year-end.
  • BBM: Infill and step-down drilling to support an initial resource estimate and expand known mineralization at depth.
  • Empire: Initial resource drilling to establish an inferred resource, followed by expansion drilling down plunge and along strike. Rigs will shift to Empire after BBM resource development is complete.
• Greenfield Exploration:
  • 13 new geochemistry and geophysical targets identified.
  • Integration of recent airborne gravity gradient (AGG) survey data with termite-mound and soil geochemistry to refine target resolution from 400x50m to 200x50m sample spacing.
  • Up to 15,000 metres of additional drilling details to be provided in a subsequent update.
• Timeline:
  • Q4 2025: Resource definition drilling focused on the initial Mineral Resource Estimate (MRE).
  • Q1 2026: Shift to greenfield and discovery expansion drilling.
  • 2026 Field Season: Runs through August 2026, with a steady flow of results.
  • Q3 2026: Delivery of Preliminary Economic Assessment (PEA).
• Joint Venture Context: The program covers the Awale-Newmont joint venture (OJV) permits, with Awale managing exploration activities funded by Newmont Ventures Ltd. under an agreement signed in May 2022.

Notable Quotes

• "We are very proud to begin this next, transformative phase at Odienne... This 88,000-metre joint venture campaign is our largest to date and marks the culmination of three years of systematic groundwork and continual success at the drill bit." — Andrew Chubb, CEO
• "With four rigs turning and two more arriving in December, we are rapidly expanding our understanding of this emerging gold and copper district. Our objective is very clear: advance BBM, Charger and Empire toward resource definition and a preliminary economic assessment, while continuing to make new discoveries that support a Tier 1 scale district." — Andrew Chubb, CEO