VANCOUVER, BC, October 26, 2023 ‐ Awalé Resources Limited (“Awalé” or the “Company”) (TSXV: ARIC) wishes to announce that it has issued the balance of 1,812,230 shares in settlement of outstanding debt. Requiring shareholder approval obtained on September 6th, the Company has issued an aggregate of 3,978,882 shares in settlement of $477,465 of debt. The recent shares issued are subject to a hold period trading restriction expiring February 21, 2024.
Additionally, the Company wishes to clarify that in its news release dated May 24, 2023 it incorrectly stated that its incentive stock options granted were exercisable at $0.20. The 3,605,000 options granted are exercisable at $0.12 per share until expiry.
About Awalé Resources
Awalé is a diligent and systematic mineral exploration company focused on the discovery of large high-grade gold and copper-gold deposits. The Company currently undertakes exploration activities in the underexplored parts of Côte d’Ivoire. Awalé’s exploration success to date has culminated in a fully funded earn-in Joint Venture with Newmont covering one permit and one application (the “Odienné Project JV”) within the greater Odienné Copper-Gold Project in the Northwest of Côte d’Ivoire, where three significant gold and gold-copper-silver-molybdenum discoveries have been made. The Sceptre East and Charger discoveries have significant scope for growth with future discovery and resource development drilling. The project has multiple pipeline prospects that have similar geochemical fingerprints to Iron Oxide Copper Gold (“IOCG”) and intrusive related mineral systems. The 400km2 of granted tenure and 400km2 under application remains underexplored and offers significant upside potential. The Odienné Project JV forms a solid foundation for the Company to continue exploring in a pro-mining jurisdiction that offers significant potential for district scale discoveries.
ON BEHALF OF THE BOARD
AWALE RESOURCES LIMITED
Andrew Chubb, CEO and Director
For additional information, you can visit the Awalé Resources Limited website at www.awaleresources.com, or contact Andrew Chubb at Tel +356 99 139 117
This press 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, postulate and similar expressions, or are those, which, by their nature, refer to future events. All statements that are not statements of historical