AWALĖ RESOURCES – Completion of Financing

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE

UNITED STATES

AWALĖ RESOURCES – Completion of Financing

Vancouver, BC, September 27, 2018, Awalé Resources Limited. (ARIC-TSX.V) (the "Company"

or “Awalé”) is pleased to announce that it has completed its previously announced non- brokered

private placement (the “Offering”) of 6,660,000 common shares of the Company, at a price of 12.5

cents per share, raising gross proceeds of $832,500. The proceeds of the Offe ring are to be used

for ongoing exploration expenditure on its projects in Côte D’Ivoire and for general overhead and

operating expenses.

All securities issued under the Offering are subject to a hold period trading restriction of four

months and a day from the date of distribution which will expire January 25, 2019.

Existing Insiders of the Company participated in the Offering acquiring, directly or indirectly, an

aggregate of 2,840,000 shares. Of these, Sandstorm Gold Ltd (“Sandstorm”) acquired 1.2 million

common shares, which is in addition to its previous ownership position of approx imately 3.1

million shares. Sandstorm now owns approximately 12% of the issued and outstanding common

shares of Awalé. The shares are for investment purposes only and depending upon market and

other conditions, or as future circumstances may dictate, Sandstorm may, from time to time,

increase or decrease its holdings of Awalé. A copy of the early warning report of Sandstorm will

be available on Awalé’s issuer profile on SEDAR at www.sedar.com.’

ON BEHALF OF THE BOARD OF DIRECTORS

AWALE RESOURCES LTD.

“Glen Parsons”

Glen Parsons, Director

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

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. This news release does not constitute an offe r to sell or a solicitation of an offer to

sell any securities in the United States. The securities have not been and will not be registered

under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state

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securities laws and may not be offered or sold within the United States or to U.S. Persons unless

registered under the U.S. Securities Act and applicable state securities laws or an exemption from

such registration is available.