Awalé Resources Drilling Intersects Offset Extensions to the Empire Main deposit, Odienné Project, Côte d'Ivoire

VANCOUVER, June 23, 2021 - Awalé Resources Ltd. ("Awalé" or the "Company") (TSXV: ARIC) is pleased to report that ongoing drilling has resulted in the discovery of new mineralized offset extensions to the Empire Main gold deposit, Odienné Project. The diorite mineralisation now has potential for an open strike length of 900m. Results have now been received for 13 Reverse Circulation ("RC") holes for 1,224m that were drilled over the Empire Gap and Empire Western extension targets (Figures 1 and 2). Highlights of this program are as follows:

• At Empire Gap, which is located approximately 150m S of Empire Main, significant widths of interpreted en-echelon offsets of the Empire Main-style gold mineralization have been intersected (Figure 3).
• • Drillhole OERC-102 was collared 150 metres SSE of Empire Main and has intersected 55m interval of the Empire Main host diorite with the same brittle ductile deformation and associated alteration (see cross section in Figure 4). OERC-102 is the first hole in this newly discovered zone and intercepts are comparable to holes at Empire Main that are marginal to high grade plunge (OEDD-28 or OEDD-3 on the west side of plunging mineralisation at Empire Main or OEDD-27 to the east). The intercept in OERC-102 is a 4-fold increase in diorite width intercepted in up dip hole OERC-16 (7 metres at 0.3 grams per tonne gold ("g/t Au")).
  • • OERC-102 drilled 7m at 0.4g/t Au from 80 metres ("m") downhole including 1m at 1.3 g/t Au from 80m downhole, and 1m at 2.8 g/t Au from 108m.
  • New, deeper step out drilling east of OERC-102 will be targeted at a similar elevation and has been designed to extend the strike of gold mineralization by 200 metres (Long Section in Figure 5).
  • • Holes drilled 100m and 200m east of OERC-102 have also intercepted gold mineralization (drillholes OERC-103/OERC-104 and OERC110 to 112). Mineralisation intercepted in these holes is coincident with metre scale diorite occurrences within a mylonite and volcanic sequence. These holes are interpreted to have been drilled over or above the larger diorite body.
• Further mineralized intrusions with intermediate composition have also been intercepted to the NW (Empire West target) with hole OERC-106 returning:
• • OERC-106: 3m at 1.8 g/t Au from 21m

Drilling has just recommenced at Odienné with these targets to be tested at equivalent vertical depths to OERC-102 (80-100m - see Long Section, Figure 5). This drilling is targeting high grade mineralization on 200 metres of open strike east of OERC-102.

See Figures: http://www.awaleresources.com/_resources/maps/2021-06-21_Figures_Empire_Brownfields_Drilling_Final.pdf

Company CEO Glen Parsons commented today:

"We are thrilled to have found the offset extensions to the east and west of the Empire Main mineralisation. The team will now continue to carefully follow and target further high-grade mineralisation along the newly discovered Empire Gap zone. Furthermore, intercepting mineralisation in the NW offset drilling also reinforces the postulated right stepping en-echelon framework for the Empire Main and supports a new 900m long footprint for the Empire Main mineralisation.

As of this weekend the drill is turning again at the Empire project, and the team looks forward to further defining the new Empire discoveries as well as the recently reported high grade mineralisation at the Charger Prospect.

These new brownfield and greenfield targets highlight the gold prospectivity of the Empire Corridor and the greater Odienné Project, emphasizing the team's ability to continue building gold ounces at Odienné.

We look forward to announcing results from the recently completed 4385m of drilling over 5 new targets from the Kodio and Samanda trends at the Bondoukou Project. As well as the new drilling just underway at Empire and Charger as they become available".

Table 1: Significant Intercepts Empire Main Extension Program (Gap and West Targets)

* Significant Intercepts calculated using a 0.2 g/t Au trigger value and include 2m of internal waste. No High Cuts. Holes not reported have no significant values.

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.

ON BEHALF OF THE BOARD

AWALE RESOURCES LIMITED.

"Glen Parsons"

Glen Parsons, President and CEO

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.

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

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SOURCE Awale Resources