Highlights

• Final two permits granted – The Tienko and GB exploration permits were granted by decrees adopted by the Council of Ministers; once signed by the President, the decrees will complete the grant of all five permits on Awalé's 100%-owned ground at Odienné.

• Two-thirds of the Odienné Project is 100%-owned – Awalé's 100%-owned land position covers approximately two-thirds of the 2,338 km² Odienné Gold-Copper Project, alongside the 797 km² Awalé-Newmont joint venture where the Company has defined an initial inferred resource of 1.71 million ounces gold equivalent.

• Fully funded exploration program – Planned work at Tienko and GB includes airborne geophysical surveys, approximately 12,000 geochemical samples, and 4,400 metres of auger drilling, as part of Awalé's fully funded C$12 million, 71,500-metre exploration program.

• Expanding exploration along a world-class gold trend – Tienko and GB extend Awalé's position north and west along a regional structural trend that hosts multi-million-ounce gold camps in Mali and Guinea.

Toronto, Ontario--(Newsfile Corp. - November 2, 2026) - Awalé Resources Limited (TSXV: ARIC) (OTCQX: AWLRF) (FSE: 2F60) ("Awalé" or the "Company") is pleased to announce that its final two exploration permits on its 100%-owned ground at the Odienné Gold-Copper Project ("Odienné" or the "Project") in Côte d'Ivoire have been granted by decrees adopted by the Council of Ministers, pending signature by the President.

"Securing the final two permits is an important milestone for Awalé, consolidating our 100%-owned land position at Odienné as we launch our fully funded, 71,500-metre exploration program. Tienko and GB extend our footprint north and west along major regional structures that continue into Mali and Guinea, home to some of West Africa's largest gold camps. We believe the Odienné district remains significantly underexplored, and Awalé now controls a commanding land position along this highly prospective trend.

"Our systematic approach to exploration has already delivered the BBM, Charger, Empire, and Fremen discoveries. We look forward to applying that same proven strategy across Tienko and GB, with a clear focus on making the next significant discovery. I would also like to thank the Government of Côte d'Ivoire for its continued support of Awalé and the Odienné Project," said Andrew Chubb, President and CEO of Awalé Resources.

The Council of Ministers of Côte d'Ivoire, at its meeting of October 14, 2026, adopted decrees granting the PR-1100 ("Tienko") and PR-1101 ("GB") exploration permits for gold to Awalé Resources SARL, each for an initial period of four years. Once the decrees are signed by the President, all five of the Company's 100%-owned permits will be granted, giving Awalé a consolidated 100%-owned land position of approximately 1,542 km² across the Odienné district (Figure 1).

Field work on both permits will start once the Company has formally received the signed decrees, which are expected in the coming weeks. Planning, contractors, and budget are already in place.

Figure 1: Odienné Project Permit map (Tienko and GB highlighted in red).

To view an enhanced version of this graphic, please visit:
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C$12 Million Exploration Program Extends to Tienko and GB

Tienko and GB were included, subject to grant, in the fully funded 15-month, C$12 million exploration program announced on September 22, 2026. The program comprises approximately 71,500 metres of drilling and more than 15,000 surface geochemical samples as well as aerial surveys across Awalé's 100%-owned ground, and is funded by the recent PDI Gold financing supported by Fortuna Mining and Newmont.

Planned work at Tienko and GB comprises approximately 12,000 termitaria and soil samples, 4,400 metres of auger drilling, and aerial surveys. It follows the same staged sequence that produced the Company's BBM, Charger, Empire, and Fremen discoveries:

• Aerial magnetic surveys – Detailed magnetics and radiometrics for structural and regolith interpretation.
• Regional geochemistry – Termitaria and soil sampling on 800m by 100m grids to define anomalies at district scale.
• Staged infill – Anomalous zones infilled to 400m, then 200m and 100m line spacing, accelerated by shallow auger transects designed to see through the transported cover that masks bedrock geochemistry across much of the district.
• Drill testing – First-pass aircore (AC), reverse circulation (RC), and diamond drilling (DD) of auger-confirmed targets.

The program also holds 15,000 metres of drilling (10,000m DD and 5,000m RC) in reserve to rapidly follow up new discoveries across the 100%-owned ground, including any generated at Tienko and GB.

About Awalé Resources

Awalé Resources is a diligent and systematic mineral exploration company focused on discovering large-scale gold and gold-copper deposits in Côte d'Ivoire. The Company's flagship Odienné Project now hosts an initial inferred Mineral Resource Estimate¹ of 1.71 million ounces gold equivalent across the BBM, Charger, and Empire deposits (32.4 Mt at 1.33 g/t Au and 0.33% Cu), providing a strong foundation for ongoing growth and future economic studies.

In addition to the current resource base defined on the joint venture ground, Awalé controls a 1,542 km² 100%-owned land position across the broader Odienné district, where multiple targets provide additional potential discovery upside. Across the Project, Awalé has identified multiple gold and gold-copper systems and continues to build a pipeline of targets with potential to support further discoveries and resource growth.

The Odienné Project covers 2,338 km² across seven permits, including 797 km² held under the Awalé-Newmont Joint Venture. Awalé manages exploration activities across the joint venture area.

With a skilled and experienced technical team, together with support from three strategic shareholders, Awalé is advancing exploration in an underexplored and pro-mining jurisdiction with clear potential for district-scale discoveries.

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 Geoscientists (SEG). Mr. Chubb has over 25 years of experience in international mineral exploration and mining project evaluation.

Abbreviations Used in this Release

The Company's public documents may be accessed at www.sedarplus.ca. For further information on the Company, please visit our website at www.awaleresources.com.

Forward-Looking Information

This news release contains forward-looking information within the meaning of applicable Canadian securities laws (collectively, "forward-looking statements"). Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, plan, propose, potential, postulate, target, continue, advance 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 news release include, but are not limited to, the Company's presence in Côte d'Ivoire and ability to achieve results, creation of value for Company shareholders, achievements under the Newmont exploration agreement, advancement and expansion of the Odienné Project, the signing and receipt of the decrees for the Tienko and GB permits and the expected timing thereof, the potential size, scale and quality of the mineral resource estimate at BBM, Charger and Empire, the conversion or upgrading of inferred mineral resources, timing and results of future drilling programs, resource expansion potential at BBM, Charger and Empire, and exploration and discovery potential at Fremen and other targets, the potential for additional discoveries, expectations regarding the timing and completion of a preliminary economic assessment and advancement toward pre-feasibility studies, timing for receipt of assay results, commencement and continuation of operations, and the potential development of the Odienné Project. Although the Company believes the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations and assumptions will prove to be correct. Factors that could cause actual results to differ materially from forward-looking information include, but are not limited to, the results of exploration and drilling programs, the interpretation of exploration and mineral resource results, changes in mineral resource estimates, the ability to convert inferred mineral resources to indicated mineral resources, the ability to complete future economic studies, fluctuations in commodity prices, changes in the state of equity and debt markets, delays in obtaining required regulatory, governmental, environmental or other project approvals, availability of financing, and the other risks involved in the mineral exploration and development industry, including those risks set out in the Company's management's discussion and analysis and other continuous disclosure documents filed under the Company's profile at SEDAR+ 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, without limitation, that all necessary governmental and regulatory approvals will be received as and when expected, that financing will be available on reasonable terms, and that exploration, development and study activities will proceed as currently planned. Although the Company believes 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 disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except 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.

¹ The full Initial Mineral Resource Estimate news release dated May 19, 2026, including detailed assumptions and methodology, is available at www.awaleresources.com and SEDAR+ www.sedarplus.ca.

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