Mr. Andrew Chubb reports

AWALE SECURES FINAL TWO PERMITS, CONSOLIDATING 1,542 KM2 OF 100%-OWNED GROUND AHEAD OF FULLY FUNDED EXPLORATION PROGRAM

Awale Resources Ltd.'s final two exploration permits on its 100-per-cent-owned ground at the Odienne gold-copper project in Ivory Coast 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 Awale, consolidating our 100-per-cent-owned land position at Odienne 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 Odienne district remains significantly underexplored and Awale 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 Cote d'Ivoire for its continued support of Awale and the Odienne Project," said Andrew Chubb, president and chief executive officer of Awale Resources.

The Council of Ministers of Ivory Coast, at its meeting of Oct. 14, 2026, adopted decrees granting the PR-1100 (Tienko) and PR-1101 (GB) exploration permits for gold to Awale 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-per-cent-owned permits will be granted, giving Awale a consolidated 100-per-cent-owned land position of approximately 1,542 square kilometres (km) across the Odienne district.

Fieldwork 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.

$12-million exploration program extends to Tienko and GB

Tienko and GB were included, subject to grant, in the fully financed 15-month, $12-million exploration program announced on Sept. 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 Awale's 100-per-cent-owned ground, and is financed 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 800-metre-by-100-metre (m) grids to define anomalies at district scale;
• Staged infill -- anomalous zones infilled to 400 m, then 200 m and 100 m 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 (10,000 m DD and 5,000 m RC) in reserve to rapidly follow up new discoveries across the 100-per-cent-owned ground, including any generated at Tienko and GB.

About Awale Resources Ltd.

Awale Resources is a diligent and systematic mineral exploration company focused on discovering large-scale gold and gold-copper deposits in Ivory Coast. The company's flagship Odienne project now hosts an initial inferred mineral resource estimate (1) of 1.71 million ounces gold equivalent across the BBM, Charger and Empire deposits (32.4 million tonnes (t) at 1.33 grams per tonne (g/t) gold (Au) and 0.33 per cent copper (Cu)), providing a strong foundation for continuing growth and future economic studies.

In addition to the current resource base defined on the joint venture ground, Awale controls a 1,542 square km 100-per-cent-owned land position across the broader Odienne district, where multiple targets provide additional potential discovery upside. Across the project, Awale 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 Odienne project covers 2,338 square km across seven permits, including 797 square km held under the Awale-Newmont joint venture. Awale manages exploration activities across the joint venture area.

With a skilled and experienced technical team, together with support from three strategic shareholders, Awale 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.

(1) The full initial mineral resource estimate news release dated May 19, 2026, including detailed assumptions and methodology, is available on the company's website and on SEDAR+.

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