Awalé Discovers Second High-Grade Gold Zone 200 Metres from the Charger Trend

Highlights: Charger New Discovery Zone

• Charger 2 discovered: Shallow, high-grade gold zone 200m southwest of Charger 1.
• Same geology and mineralization style as the Charger discovery.
• New high-grade intercepts at Charger 2:
  • 16.3 g/t Au over 1m within 2.6 g/t Au over 10m (100m downhole, OEDD-158)
  • 12.2 g/t Au over 1m within 2.2 g/t Au over 10m (208m downhole, OEDD-156)
  • 12.1 g/t Au over 1m within 4.8 g/t Au over 4m (75m downhole, OEDD-159)
• Discovered using the same vectoring approach that expanded Charger 1 to 600m down plunge, where mineralization remains open.
• Demagnetized targets validated: Charger 1 and Charger 2 demagnetized anomalies, with three additional untested demagnetized zones remaining, support strong potential for additional Charger-style mineralization.
• Charger 1 drilling ongoing with further results expected in coming weeks.
• Nine rigs active across the Odienné Project’s 100,000m program.

Toronto, Ontario–(Newsfile Corp. – January 15, 2026) – Awalé Resources Limited (TSXV: ARIC) (OTCQX: AWLRF) (FSE: 2F60) (“Awalé” or the “Company“) is pleased to announce results from step-out drilling at the Charger target confirming the presence of a newly discovered zone potentially extending the system approximately 200 metres along strike (see Figures 2 and 3). These results are the first reported from the recently commenced 100,000-metre drill program at the Odienné Project (“Odienné” or the “Project“) in Côte d’Ivoire (see November 21, 2025 news release).

“This is exactly what we have been looking for around Charger, and it is exactly how we made the original Charger discovery. We started with shallow high-grade hits, worked out the geometry and structural controls, and have now drilled Charger to more than 600 metres down-plunge, where it remains open. The discovery of this new high-grade gold zone gives us confidence that additional Charger-style mineralization exists across the broader Charger intrusion and may not be limited to Charger 1. With five demagnetized zones identified at Charger, this result validates our systematic targeting approach and our ability to consistently vector into mineralization. With nine drill rigs turning as part of our 100,000-metre program, this confirmation gives us real confidence and optimism as we move into 2026,” said Andrew Chubb, Awalé’s CEO.

Link to All Figures

Link to Drill Core Photos

Watch Video of CEO Andrew Chubb Discussing New Discovery

Charger Step-Out Drilling – Second Demagnetized Zone

Diamond drill holes OEDD-156, OEDD-158, and OEDD-159 successfully intercepted a second mineralized zone, located 200 metres southwest of the Charger discovery (see Drill Plan and Long Section in Figures 2 and 3, respectively), which includes the initial ‘discovery hole’ in March 2024, OEDD-83 with 57m @ 26 g/t Au (see March 25, 2024 news release).

This phase of drilling was part of a seven-hole step-out diamond program targeting a second demagnetized (‘demag’) zone outside of the previously drilled area. Mineralization intersected in OEDD-156 and OEDD-158 displays Charger-style alteration and similar geology to early shallow reverse circulation (RC) drilling at Charger, including OERC-131 (18m @ 0.5 g/t Au from 31m) and OERC-132 (32m @ 3 g/t Au from 74m) (see March 29, 2023 news release).

Key Takeaways

• The similarity in mineralization and alteration style to the shallow mineralization above the high-grade Charger shoot gives confidence that there is potential for a second shoot of similar tenor.
• Intercepting shallow mineralization at three points gives confidence to target down-plunge potential.
• Proof of concept, with three more demag zones yet to be drill tested.

Table 1: Significant Intercepts from Diamond Drilling – (from this release)

Hole ID	From (m)	To (m)	Length (m)	Au (g/t)	Ag (g/t)	Cu (ppm)	Mo (ppm)	Composite  Trigger (Au g/t)
OEDD0156	28.00	28.50	0.50	0.8	0.5	163.8	1.2	0.5
	33.00	33.50	0.50	0.5	0.9	386.5	3.9	0.5
	34.00	34.50	0.50	0.7	1.1	649.4	6.2	0.5
	60.00	60.50	0.50	0.6	0.1	8.8	6.1	0.5
	62.00	62.50	0.50	0.7	0.1	104.3	0.9	0.5
	116.00	117.00	1.00	0.8	6.1	359.6	1.2	0.5
	167.00	168.00	1.00	2.2	0.7	110.3	2.0	0.5
	190.00	191.00	1.00	0.6	0.6	69.1	1.7	0.5
	208.00	218.00	10.00	2.2	1.3	154.6	2.6	0.5
including	216.00	217.00	1.00	12.2	2.6	216.1	4.1	3.0
	222.00	223.00	1.00	5.3	0.9	80.3	1.8	0.5
OEDD0158	100.00	110.00	10.00	2.6	5.3	406.1	3.3	0.5
including	102.00	103.00	1.00	16.3	40.2	1699.2	3.2	5.00
and	106.00	107.00	1.00	5.0	2.1	192.4	4.2	5.00
OEDD0159	24.50	25.00	0.50	1.9	3.5	2686.7	2.6	0.5
	38.00	40.00	2.00	0.8	0.2	93.6	2.0	0.5
	46.00	48.50	2.50	0.7	3.3	1104.2	2.1	0.5
	75.00	79.00	4.00	4.8	3.0	108.5	3.8	0.5
including	75.00	76.00	1.00	12.1	9.4	156.0	9.1	5.00
and	78.00	79.00	1.00	7.1	1.6	134.3	2.8	5.00
OEDD0161	199.00	202.00	3.00	0.6	0.6	293.5	1.6	0.5
OEDD0163	88.00	89.00	1.00	0.5	0.0	0.0	0.0	0.5

 

Table 2: Charger Drill Collar Details – (all collars from this release)

Hole ID	Easting	Northing	RL_M	Azimuth True	Dip	EOH_M
OEDD0156	647695.8	1032084.1	471.0	310.9	-57.1	290.0
OEDD0158	647655.0	1032112.5	472.4	312.4	-56.4	194.0
OEDD0159	647626.8	1032082.3	471.6	313.0	-56.6	194.2
OEDD0161	647657.0	1032053.0	485.0	310.2	-58.5	329.1
OEDD0163	647597.6	1032056.6	474.1	312.6	-57.0	203.6
OEDD0165	647630.6	1032025.9	469.8	311.0	-56.8	308.1
OEDD0166	647601.0	1031996.1	469.6	311.0	-56.8	310.9

 

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 exploring the Odienné Copper-Gold Project (“Odienné” or the “Project“), covering 2,346 km² across seven permits-five granted and two applications. This includes 797 km² in two permits held under the Awalé-Newmont Joint Venture (“OJV”). Awalé currently manages all exploration activities over the OJV, with funding currently provided by Newmont Ventures Limited (“Newmont”) under an Exploration Agreement signed in May 2022.

Awalé has discovered four gold, gold-copper, and gold-copper-silver-molybdenum mineralized systems within the OJV and has recently commenced exploration on its 100%-owned properties.

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 drill samples is being carried out at the independent Intertek Laboratories in Ghana and Australia, an ISO 17025 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 ALS to their preparation laboratory in Yamoussoukro, Côte 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 to Canada or Ireland where the sample is analyzed by 52 element ICP/MS with a 4-Acid digest. Blanks, duplicates, and certified reference material (standards) are being used to monitor laboratory performance during the analysis. Where visible gold is observed in drill core, a quartz wash is applied between every sample to reduce or eliminate any contamination. Once fire assay results are received, samples over 5 g/t gold are routinely screen fire assayed, samples lower than 5 g/t gold continued within a high-grade interval are also screen fire assayed.

Mineralized Interval Calculations

Significant intervals reported in this news release are calculated as downhole length-weighted intercepts. For the Charger target, initial mineralized zones are calculated at a 0.5 g/t Au trigger and include up to 3 metres of internal waste for delineating mineralized zones. Included intervals are calculated at 1 g/t Au, 3 g/t Au, and 5 g/t Au trigger values, with up to 3 metres of internal waste. Table 2 contains a list of all Charger holes reported in this release. True widths are estimated to be 70% of the downhole widths. Holes not reported do not make the 0.5 g/t Au grade trigger.

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

Ag	Silver
Au	Gold
Cu	Copper
g/t	Grams per tonne
km	Kilometres
m	Metres
Mo	Molybdenum
ppm	Parts per million

 

AWALÉ Resources Limited
On behalf of the Board of Directors

“Andrew Chubb”
Chief Executive Officer

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 Canadian securities laws (collectively “forward-looking statements”). Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, plans, propose, potential, 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 news release include 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, timing and extent of planned drilling, expectations to achieve a first mineral resource estimate and preliminary economic assessment, advancing towards a pre-feasibility study, potential for new discoveries, timing for providing assay results, commencement of operations. Although the Company believes any forward-looking statements in this news 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, the results of the proposed drilling programs, the number of drilling rigs on site, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or 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 and that the proposed drilling program will proceed as planned. 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 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/280448