High-Grade Gold Mineralization Intersected in Scout Drilling at the New Charger Prospect, Odienné Project

VANCOUVER, June 14, 2021 - Awalé Resources Ltd. ("Awalé" or the "Company") (TSXV: ARIC) is pleased to announce new high-grade gold mineralization in scout Reverse Circulation ("RC") drilling at the newly-defined Charger prospect, which is located 3km north of the high-grade Empire Main gold discovery. Results have now been received for 22 holes of an initial 23 hole / 1,634m RC program at Charger (Figures 1 to 3), with highlights including:

• OERC-89 - 1m at 20.3 grams per tonne gold ("g/t Au") from 16m downhole, plus
  
  
• • 3m at 9.0 g/t Au from 30m downhole.
    
    
  • These two high-grade intervals lie within a broader mineralized envelope of 21 m at 2.6 g/t Au from 13m downhole (see Cross Section in Figure 4)
    
    
• OERC-91 - 16m at 0.8 g/t Au from 2m downhole
  
  
• • Including 1m at 1.7 g/t Au from 4m, and
    
    
  • 1m at 2.6 g/t Au from 14m

* True widths of mineralization are unknown from this scout percussion drilling program.

Link to Figures: https://www.awaleresources.com/_resources/maps/2021-06-10-Figures-Charger-Scout-Drilling-V3-Final.pdf

The Charger prospect is a 600m long auger soil gold anomaly (with gold values consistently >90 parts per billion, and a peak value of 0.56 g/t Au; see Company News Release dated March 23, 2021), with this initial drill program consisting of three 160 meter-spaced drill lines targeting the central portion of the anomaly.

The high-grade gold mineralization at Charger is hosted within a diorite body interpreted to have intruded the nose of a fold structure (see Figure 2). The diorite host is variably iron-altered (hematite, magnetite +/- chlorite) with both disseminated sulphide and sulphide veins (Figure 5). This style of alteration is different to that of the Empire Main discovery and is believed by the Company to be conducive to a high grade disseminated style of mineralisation. Follow-up diamond drilling to determine the precise geometry of this new mineralized zone at Charger is currently expected to commence on or around the 16^th of June.

Company CEO Glen Parsons commented today:

"We have initial exciting, high grade fresh rock intercepts from the first shallow scout drilling program at Charger.

These new high grade results at Charger are hosted in a fold hinge target that has uncovered a new style of alteration and mineralisation for the Empire Corridor. The Iron Alteration with disseminated sulphides differs from Empire Main and presents as a potential new high grade disseminated style of mineralisation proximal to Empire Main.

These results at Charger and of course Empire Main highlight multiphase fluid flow, alteration, and mineralized systems of the greater Odienné Project, reinforcing Awalé Resources ability to continually unlock and develop the potential for a significant gold camp in Côte d'Ivoire.

We are pleased to be planning and preparing for an immediate follow up diamond and RC phase of drilling to determine the geometry and orientation of the intercepted mineralization"

We also anticipate reporting results from the Empire Main targets in the ensuing weeks as well as initial results from the Bondoukou Scout drilling program in July."

Table 1: Significant Intercepts - All Charger Drilling

Quality Control and Assurance

Analytical work for auger geochemical samples is being carried out at the independent Intertek Laboratories Australia Ltd. an ISO 17025 (2017) Certified Laboratory. Samples are stored at the Company's field camps and put into sealed bags until collected by Intertek from the Company's secure Bondoukou or Odienné office and transported by Intertek to their preparation laboratory in Yamoussoukro, Cote d'Ivoire for preparation. Samples are logged in the tracking system, weighed, dried and pulverized to better than 85%, passing a 75-micron screen, this pulp sample is then shipped to Ghana where a 50g charge is Fire Assayed with an AAS finish. 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 Operating 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 18 years of experience in international minerals exploration and mining project evaluation.

ON BEHALF OF THE BOARD

AWALE RESOURCES LIMITED.

"Glen Parsons"

Glen Parsons, President and CEO

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.

Cautionary Statement

NEITHER 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

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SOURCE Awale Resources