Awalé Closes Private Placement with Newmont
13986.169582.RRW.24553894.3
Awalé Closes Private Placement with Newmont
VANCOUVER, BC, December 19, 2023 ‐ Awalé Resources Limited (“Awalé”) (TSXV: ARIC) is pleased to
announce that it has closed its previously announced non-brokered private placement (December 1, 2023)
with Newmont Ventures Limited (“Newmont”), a wholly -owned subsidiary of Newmont Corporation , to
raise gross proceeds of C$957,530.89 . The proceeds from the private placement will be used to initiate
greenfield exploration on the Odienné project permits, which lie outside the Newmont Joint Venture, and
for general administrative costs of Awalé.
The completed private placement by Awalé consisted of two separate components:
1. The sale of an aggregate of 2,908,714 units at $0.12 per unit (“Unit”) for an aggregate purchase
price of C$349,045.68. Each Unit consists of one common share of Awalé (“Common Share”) and
one-half of a Common Share purchase warrant (each whole warrant, a “Warrant”), each Warrant
entitling the holder to acquire one Common S hare at $0.20 per Common Share for a period of 36
months from closing; and
2. The sale of an aggregate of 3,558,393 Common S hares at $0.171 per Common S hare for an
aggregate purchase price of C$608,485.21.
All Common Shares and Warrants issued pursuant to the completed private placement are subject to a hold
period trading restriction that will expire on April 19, 2024.
As announced on December 1, 2023, t he completion of the private placement brings Newmont’s
shareholdings in Awalé up from 5.75% on an undiluted and partially diluted basis to 15.48% on an undiluted
basis and 17.40% on a partially diluted basis.
An early warning report was filed by Newmont in accordance with applicable securities laws on December
5, 2023, and is available under Awalé’s profile on the SEDAR+ website at www.sedarplus.com, and may also
be obtained by contacting the persons named below.
About Awalé Resources
Awalé is a diligent and systematic mineral exploration company focused on the discovery of large high-grade
gold and copper-gold deposits. Awalé currently undertakes exploration activities in the underexplored parts
of Côte d'Ivoire. Awalé's exploration success to date has culminated in a fully funded earn -in Joint Venture
with Newmont covering one permit and one application (the "Odienné Project J V") within the greater
Odienné Copper -Gold Project in the Northwest of Côte d'Ivoire, where three significant g old and gold -
copper-silver-molybdenum discoveries have been made. The Sceptre East and Charger discoveries have
significant scope for growth with future discovery and resource development drilling. The project has
multiple pipeline prospects that have simi lar geochemical fingerprints to Iron Oxide Copper Gold ("IOCG")
and intrusive related mineral systems. The 400km2 of granted tenure and 400km2 under application remains
underexplored and offers significant upside potential. The Odienné Project JV forms a s olid foundation for
Awalé to continue exploring in a pro -mining jurisdiction that offers significant potential for district scale
discoveries.
For additional information, you can visit the Awalé Resources Limited website at
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www.awaleresources.com, or contact Andrew Chubb at Tel +356 99 139 117.
About Newmont Corporation
Newmont Corporation is the world’s leading gold company and a producer of copper, zinc, lead, and silver.
Newmont Corporation’s world-class portfolio of assets, prospects and talent is anchored in favorable mining
jurisdictions in Africa, Australia, Latin America & Caribbean, North America, and Papua New Guinea.
Newmont Corporation is the only gold producer listed in the S&P 500 Index and is widely recognized for its
principled environmental, social, and governance practices. Newmont Corporation is an industry leader in
value creation, supported by robust safety standards, superior execution, and technical expertise. Newmont
Corporation was founded in 1921 and has been publicly traded since 1925.
At Newmont Corporation, our purpose is to create value and improve lives through sustainable and
responsible mining. To learn more about Newmont Corporation’s sustainability strategy and initiatives, go
to www.newmont.com.
Media Contacts:
Awalé Resources
Andrew Chubb
+356 99 139 117
Newmont
Jennifer Pakradooni
Forward‐Looking Information
This press release contains forward -looking information within the meaning of Canadian securities laws
(collectively "forward-looking statements"). Forward -looking statements are typically identified by words
such as: believe, expect, anticipate, intend, e stimate, plans, postulate 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 press release include but are not limited to
statements regarding, Awalé's presence in Cote d'Ivoire and ability to achieve results, creation of value for
Awalé shareholders, achievements under the Newmont Joint Venture, the initiation of greenfield exploration
on the Odienné project permits and other statements regarding the use of the proceeds from the completed
private placement . Although Awalé believes any forward -looking statements in this press release are
reasonable, it can give no assurance that the expectations and assumptions in such statements will prove to
be correct. Factors that could cause actual results to differ materially from such forward-looking information
include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity
prices, delays in obtaining required regulatory o r governmental approvals, delays or issues related to the
closing of the financing, delays or issues related to the initiation of greenfield exploration on the Odienné
project permits, and other risks involved in the mineral exploration and development industry, including those
risks set out in Awalé's management’s discussion and analysis as filed under Awalé’s profile at
www.sedarplus.com. Forward -looking information in this news release is based on the opinions and
assumptions of management considered reasonable as of the date hereof, including that all necessary
governmental and regulatory approvals will be received as and when expected. Although Awalé believes that
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. Awalé disclaims any intention or
obligation to update or revise any forward -looking information, other than as required by applicable
securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies
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of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.