Awalé’s Transformative 2024 Sets the Stage for an Ambitious 2025
Awalé’s Transformative 2024 Sets the Stage for an Ambitious 2025
HIGHLIGHTS
• Charger Zone: A significant gold target in Awalé’s portfolio, marking a transformative
achievement in 2024 with some of the highest-grade intercepts in Africa in the last 12 months.
• BBM Zone and Trend: Successful delineation and expansion of a significant gold and copper
target with district scale potential for growth.
• Financial Strength: Well-funded with nearly $10M on hand for 100% -owned property
exploration and a robust partnership with Newmont.
• Strengthened Leadership: New additions to the Board and Management bring aligned focus,
driving Awalé’s strategic growth and long-term shareholder value.
• District-Scale Potential: Awalé’s extensive land package is primed for discovery, supported by
our iron oxide copper gold ( IOCG) geological model, unlocking untapped opportunities across
the region.
• 2025 Exploration Plan: Robust and comprehensive plan to continue de-risking BBM and Charger
targets, and expand exploration focus across a broader regional scale to unlock the full potential
of the Odienné project.
Vancouver, British Columbia, January 13, 2025 -- Awalé Resources Limited (TSXV: ARIC) (“Awalé” or the
“Company”) is pleased to provide a review of its achievements in 2024 and share its outlook for the first
half of 2025. This exciting phase includes commencing drilling on our 100% -owned Fremen property ,
continuing to de-risk the BBM and Charger targets, and expanding our exploration focus across a broader
regional scale to unlock the full potential of the Odienné project. A follow-up update will be provided later
in the year to review full-year progress and outline plans for the remainder of 2025.
“On behalf of the Awalé team, I want to thank our investors for their support over the past year. With a
solid balance sheet, a valued joint venture partner, and significant milestones achieved in 2024, we have
established a strong foundation for an ambitious year ahead. Driven by a disciplined approach to
exploration and discovery, we remain confident in our strategy and are steadfast in our commitment to
unlocking the full potential of the Odienné project, delivering sustained value to our shareholders.
Moreover, we take pride in fostering sustainable development and building meaningful partnerships in
the communities where we operate, creating a lasting positive impact in the region,” Commented Andrew
Chubb, CEO of Awalé Resources.
View video of CEO Andrew Chubb and VP Exploration Andrew Smith discussing upcoming plans
2 | A w a l é R e s o u r c e s L t d .
2025 H1 Outlook
Awalé is committed to providing consistent and transparent updates throughout 2025. Our exploration
efforts will prioritize key zones, leveraging innovative strategies to drive discover y and advance resource
delineation, adding value to our shareholders and local stakeholders.
Key Zones and Targets
Fremen Target (100% Awalé)
• Overview: A new 3.5km-long target, 4km on strike from BBM discovery.
• Induced Polarisation (“IP”) geophysics to commence in January 2025, with the aim to further
delineate the BBM trend.
• 2000m of maiden reverse circulation (RC) drilling planned, with results expected from March
2025.
100% Awalé Permits
• Overview: 1,693km2 untested ground, in the same geology as the four major Awalé discoveries.
• Activities: 2025 will see initial drilling on the Fremen target along with systematic early-stage
target generation with mapping and geochemistry surveys and with airborne programs, including
magnetic and radiometric surveys.
BBM Zone
• Overview: Drill, develop, and expand the higher-grade shoots within structurally controlled gold-
copper mineralization. A broad IP survey to be completed over the BBM zone, targeting strike
extents of the initial discovery zone.
• Diamond Drilling Plan: 7000m planned for the BBM zone, including 3000m within the discovery
area.
• Timeframe: Diamond d rilling started in Q4 2024 and is ongoing , with a regular flow of results
expected from January 2025.
BBM Trend
• Overview: Newly identified targets, Boba and Fett, highlight the strike potential of the BBM trend.
• Activities: 150 line-km of IP geophysics is planned to cover over 10km of the BBM trend, followed
by up to 7000m of RC drilling.
• Timeframe: IP survey scheduled for completion in January 2025, with RC drilling to follow in
February 2025.
• Initial drill results are expected from April 2025.
Charger Zone
• Overview: Following up on the spectacular 2024 gold results; diamond drilling is planned to
further delineate and expand this promising zone.
• Diamond Drilling Plan: 2000m planned to test the continuity of a new geology fold model and
rapidly advance the volume potential of this target.
• Timeframe: Initial drilling has commenced in early January 2025, with results expected from
February 2025.
• Drilling success will drive further diamond drilling in Q1.
3 | A w a l é R e s o u r c e s L t d .
Empire Zone
• Overview: Awalé’s first and significant gold discovery. Infill diamond drilling is planned, with the
aim to bring the target back online for further expansion drilling and development.
• Drill results expected from March 2025.
Lando Target
• Overview: System drilling aims to test the full potential of the largest copper-gold-in-soil anomaly
in the joint venture permit.
• Work Plan: Following an orientation pitting program in January 2025, a combination of reverse
circulation and diamond drilling will commence in February 2025, with results expected from April
2025.
Odienné West Permit
• Overview: Known mineralized trends and geology are modelled to extend into the Odienné West
permit, with early phase greenfield work expected to unlock exploration potential in an
underexplored area.
• Activities: 2025 will see early-stage target generation, with mapping and geochemistry surveys
along with airborne programs including magnetic, radiometric , and gravity gradient surveys. All
exploration is fully funded by Newmont.
Technological and Operational Enhancements
• Portable PPB Lab: On-site deployment to accelerate assay turnaround times and improve
decision-making efficiency.
• Geophysics: Comprehensive airborne and ground geophysical surveys to refine targeting across
all key zones.
Other Initiatives
• Educational Content: Rolling out materials to explain the geology of Odienné, our targeting
methodology, and broader district context.
• Stakeholder Engagement: Maintaining first -mover advantage by building trust and showcasing
Awale’s vision for the region.
2024 HIGHLIGHTS
2024 was a pivotal year for Awalé marked by key leadership changes that aligned the Company with its
strategic vision, efforts to strengthen the balance sheet and ensure financial stability, and significant
progress at the Odienné project. These achievements have positioned Awalé as a leader in district -scale
exploration, with a clear path toward resource delineation and new discoveries. Key highlights include:
• BBM Discovery – 4th discovery at Odienné announced in January. BBM was a significant new
greenfield discovery for the Company with excellent scope for rapid expansion.
• Highest-Grade Gold Intercepts in Africa – During the year, Charger delivered some of highest -
grade intercepts in West Africa over the past 12 months , including 45.7 g/t Au over 32m in hole
OEDD-83, 20 g/t Au over 29m in hole OEDD-88, and 14.7 g/t Au over 59m in OEDD-100. Ongoing
drill program aims to test new hinge fold thesis, targeting extensions to both grade and volume.
4 | A w a l é R e s o u r c e s L t d .
• BBM Growing and Remains Open - 6,808m in 28 holes have confirmed the system is open at
depth with the higher-grade core growing to 600m and remaining open. The BBM trend has now
been expanded to over 15km, from 100% -owned Fremen target in the south to the newly
identified Boba and Fett targets in the north.
• New Gold Footprint Discovery at 100% -Owned Fremen Target – In October, the Company
announced that it uncovered a new and open 3.5km long > 37 parts per billion gold in termitaria
footprint with a peak value of 1.3 g/t Au. The program was completed within Awalé’s 100%-owned
Sienso permit next door to the BBM discovery, which lies 4km along strike to the northwest.
• Financial Strength - The Company is well -funded with $10 million in cash, following an $11.5
million capital raise in April 2024 , allocated to advance 100%-owned properties and partnership
with Newmont, which is funding all exploration work on joint venture claims.
• Strengthened Leadership Team - Additions of Anthony Moreau and Karl Akueson to the Board of
Directors, along with the appointment of Stephen Stewart as Chairman, as part of a strategic
leadership transition. The m anagement team further bolstered with the additions of Andrew
Smith as VP Exploration, Ardem Keshishian as VP Corporate Development, and John Scott as
Principal Geologist. At the request of the TSXV, the Company is clarifying Ardem Keshishian's role
as VP Corporate Development and not VP Corporate Development and Investor Relations.
• New Exploration Permit – In Q4, the Company was granted an exploration permit for PR -904
("Odienné West"), unlocking expanded opportunities within the emerging gold and copper
district.
About Awalé Resources
Awalé is a diligent and systematic mineral exploration company focused on discovering large high -grade
gold and copper-gold deposits. Exploration activities are currently underway in the underexplored regions
of Côte d'Ivoire, where the Company is focused on the Odienné Copper -Gold Project (“Odienné” or the
“Project”), covering 2,489 km2 across seven permits. This includes 796 km2 in two permits held under the
Awalé-Newmont Joint Venture (“OJV”) . Awalé manages all exploration activities over the OJV, with
funding provided by Newmont Joint Ventures Limited (“Newmont”).
Awalé has discovered four gold, gold-copper, and gold-copper-silver-molybdenum discoveries within the
OJV and has recently commenced exploration on its 100%-owned properties following an $11.5 million
capital raise in April 2024.
The Odienné project is underexplored and has multiple pipeline prospects with similar geochemical
signatures to Iron Oxide Copper Gold (IOCG) and intrusive-related mineral systems with substantial upside
potential. The Company benefits from a skilled and well seasoned technical team that allows it to continue
exploring in a pro-mining jurisdiction that offers significant potential for district-scale discoveries.
Quality Control and Assurance
Analytical work for geochemistry samples is being carried out at the independent Intertek Laboratories in
Ghana and Australia, an ISO 17025 (2017) Certified Laboratory. Samples are prepared and stored at the
Company's field camps and put into sealed bags until collected by Intertek from the Company's secure
Odienné office and transported by Intertek to their preparation laboratory in Yamoussoukro, C ôte
d'Ivoire, for preparation. Samples are logged in the tracking system, weighed, dried, and pulverized to
greater than 85%, passing a 75-micron screen. Two pulps are prepared from each sample with one stream
to Intertek Ghana for fire assay and a second t o Australia where the sample is analyzed by 52 element
5 | A w a l é R e s o u r c e s L t d .
ICP/MS with an Aqua Regia digest. Blanks, duplicates, and certified reference material (standards) are
being used to monitor laboratory performance during the analysis.
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 Executive Officer and holds an 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 over 25 years of experience in international mineral exploration and mining project
evaluation.
AWALÉ Resources Limited
On behalf of the Board of Directors
“Andrew Chubb”
Chief Executive Officer
FOR FURTHER INFORMATION, PLEASE CONTACT:
Andrew Chubb, CEO
(+356) 99139117
Ardem Keshishian, VP Corporate Development
+1 (416) 471-5463
The Company’s public documents may be accessed at www.sedarplus.com. For further information on the Company, please visit our website at
www.awaleresources.com.
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, estimate, 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 incl ude but are not limited
to statements regarding, the Company's presence in Côte d'Ivoire and ability to achieve results, creation
of value for Company shareholders, achievements under the Newmont JV, works on other properties,
planned drilling, commencement of operations. Although the Company 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, and other risks involved in the mineral exploration and development industry,
including those risks set out in the Company's management's discussion and analysis as filed under the
Company's profile at www.sedarplus.ca. 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 the
Company 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. The Company
6 | A w a l é R e s o u r c e s L t d .
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 of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.