Awalé Resources Defines New 2 Kilometer Gold in Soil Anomalies at the Yanti Prospect, Bondoukou Project, Côte d’Ivoire.

Awalé Resources Defines New 2 Kilometer Gold in Soil Anomalies at the Yanti Prospect,

Bondoukou Project, Côte d’Ivoire.

Vancouver, BC, November 8, 2018 – Awalé Resources Limited (“Awalé” or the “Company”) (TSXV: ARIC)

is pleased to announce extensive gold in soil anomalies identified at the Yanti prospect within the

Bondoukou project in northeast Côte d’Ivoire. The target area was identified from an initial stream

sediment sampling and reconnaissance mapping programs where rock chip sampling in abandoned

artisanal mine sites returned gold values of up to 25.7 grams per tonne*.

Sampling was completed on a 200x50 metre grid with 400 metre spaced extension lines. In all 1229 samples

were collected and analysed for gold, a handheld XRF was used for multielement geochemistry . A broad

zone 2km x 1km zone of >20ppb of anomalism was defined by the program with a peak value of 2.8 grams

per tonne gold* (figure 2). The anomalism both extends and connects the artisanal mining locations where

cover is either shallow or non -existent, outside this central zone geology becomes dominated by

transported lateritic material that may mask any soil anomalism. Work will continue on the prospect with

auger drilling to penetrate the cover sequence as well as detailed mapping and infill sampling for drill

targeting and planning.

View link for attached Figures:

http://www.awaleresources.com/_resources/maps/Yanti__soil__anomaly_figures.pdf

CEO Glen Parsons commented today:

“The Bondoukou project is fast developing into a highly prospective gold play with leveraged potential to

produce multiple gold deposits at the Bondoukou gold camp.

Work completed to date at Bondoukou continues to produce exciting results with new gold anomalies being

discovered. These gold anomalies as well as the recent drilling results at Fako and Casino highlight multiple

zones of gold mineralization along 80 km of mineralized structural trends and over the three granted

Bondoukou permits. These recent results from the Yanti Prospect, 40km to the north of the mineralized

Awari Shear Zone confirm this.

Planned works in the 4th quarter and early 2019 will better define these anomalies for ultimate drill testing

in the new year.

Encouragingly this work continues to highlight the efficacy of the company’s systematic and active approach

to exploration, which we believe will culminate in high grade economic discoveries.”

* Descriptive Statistics for Rock and Soil Samples at the Yanti Prospect in parts per billion, rock chip samples

are selected samples and are not necessarily representative of the mineralization hosted on the property

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Rock Samples Soil Samples

Mean 889.19 14.72

Median 9 8

Minimum 0 0

Maximum 25,700 2,874

Range 25,700 2,874

Number of Samples 77 1,208

Background on Bondoukou

The Yanti soil anomaly trends northwest but contains internal north to northeast orientations reflecting

the broader geological framework that has been proposed for the greater Bondoukou project area. The

Bondoukou project is characterised by early pre or eo-Eburnean northwest structures overprinted north to

northeast trending structures of the Eburnean orogeny. This protracted tectonic history has developed

multiphase deformation and mineralisation throughout the project area which continues to be revealed

with ongoing exploration at the project.

This relationship between earlier structures being overprinted by the Eburnean orogeny has been

highlighted in recent exploration (auger, RC and diamond drilling) along the northwest trending Awari Shear

(See releases 02 Feb. and 08 Aug. 2018 ). The Yanti prospect displays similar structural relationships some

40 kilometres to the north of the Awari Shear. This framework is interpreted in the aerial magnetic surveys

over the Yanti Prospect and is now reflected in this soil survey, the company is targeting zones where the

north to northeast trending Eburnean structures cross cut the older northeast structures, these targets

may also be associated with late intrusions which play a role in numerous gold deposits in west Africa. This

geological framework has similarities with the Essakane and Mana gold camps in Burkina Faso, as well as

Ity and Tongon in Côte d’Ivoire. The company is excited about ongoing exploration on the project and looks

forward to economic discoveries at Bondoukou.

The local geology of the prospect is dominated by metamorphosed sediments and volcanosediments which

range to highly sheared in the artisanal mining areas, workings trend roughly north- south to south west

with shallow dips to the west, tourmaline bearing quartz veins have been observed in the workings (table

1 contains greater than 5 grams per tonne gold rock samples from these veins).

Table 1: Selected Rock chip samples greater than 5 grams per tonne gold, Yanti Prospect.

East North RL Lithology Au (grams/tonne)

545,303 962,590 297 Quartz 7.62

545,608 962,106 289 Quartz 8.31

545,758 961,945 289 Quartz 16.25

547,492 961,580 252 Quartz 25.7

*Rock chip samples are selected samples and are not necessarily representative of the mineralization

hosted on the property.

Quality Control and Assurance

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Analytical work for geochemical samples and rock chip samples is being carried out at the independent

ALS Laboratories Canada Ltd. an ISO 17025 (2005) Certified Laboratory. S amples are stored at the

company’s field camps and put into sealed bags until deli vered by the company to the ALS preparation

laboratory in Yamoussoukro, Côte d’Ivoire, where samples are prepared for shipping to Canada. Samples

are logged in the tracking system, weighed, dried and finely crushed to better than 70%, passing a 2 mm

screen. A split of up to 1,000 g is taken and pulverized to better than 85%, passing a 75 -micron screen,

and a 50 -gram split is analyzed by fire assay or Aqua Regia with an AA finish. Blanks, duplicates and

certified reference material (standards) are being used to monitor laboratory performance during the

analysis.

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

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 a 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 17 years of experience in international minerals exploration and mining project

evaluation.

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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