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Highlights
BBM keeps delivering: Thick and consistent gold-copper mineralization highlighted by 2.0 g/t AuEq. over 72m (OEDD-157, twin hole to OEDD-74 for metallurgy studies).
Multiple strong intervals, including 2.0 g/t AuEq. over 32m (including 7.4 g/t AuEq. over 2m) and 1.1 g/t AuEq. over 27m, reinforcing continuity.
MRE on track: BBM is emerging as the largest gold-copper discovery in West Africa with strengthening confidence ahead of a Mineral Resource Estimate targeted for Q2 2026.
Scale continues to build with mineralization now defined over ~1.2 km of strike and to depths exceeding 300m and now targeting 600m vertical depth.
Underground potential emerging at BBM, with high-grade core open down-plunge and 7,000m step-down assays pending.
Toronto, Ontario--(Newsfile Corp. - February 23, 2026) - Awalé Resources Limited (TSXV: ARIC,OTC:AWLRF) (OTCQX: AWLRF) (FSE: 2F60) ("Awalé" or the "Company") is pleased to report new drilling results from the first 12 holes of its resource and expansion drilling program at the BBM gold-copper discovery within the Odienné Project ("Odienné" or the "Project") in Côte d'Ivoire. The latest assays confirm strong grade continuity and thickness at BBM, continuing to build confidence as Awalé advances toward its initial Mineral Resource Estimate ("MRE") targeted for Q2 2026. Importantly, Awalé has also completed an 11-hole, 7,000-metre step-down program targeting the down-plunge extension of BBM's high-grade core, designed to test underground potential to approximately 600 metres vertical depth. Assays for this deeper program are pending (see long section and plan map in Figures 2 and 3).
Andrew Chubb, President and CEO of Awalé Resources stated, "BBM continues to deliver with consistent grade and width and is showing the growth potential we expect from this significant gold-copper discovery. The robust nature of mineralization gives increasing confidence in our upcoming mineral resource estimate. In parallel with this shallow infill program, we have systematically drill-tested the down-plunge extension of the high-grade shoot that forms the core of the BBM mineralization. This deeper drilling has the potential to see BBM emerge as the largest gold-copper deposit in West Africa. The shoot, or core of the BBM mineralization we have drilled, shows early indications of increasing grade at depth, and we eagerly await results from this deeper drilling over the coming weeks."
Watch Video of CEO Andrew Chubb Discussing New Results from BBM
BBM Underground Target Drilling
An 11-hole, 7,000-metre program formed part of a step-down and resource phase of diamond drilling designed to evaluate the underground potential of the BBM target. This phase of drilling aimed to test continuity of the high-grade core of the BBM system down to a depth of 600 metres below surface.
If successful, further step-out drilling will be planned to test this zone to a depth of 800m below surface. The high-grade gold, molybdenite, and copper mineralization is associated with a marked increase in strain intensity and silica-biotite alteration along the subvertical to south-southwest contact between a sheared granodiorite host and footwall metasediments and metavolcanics.
Results from this deeper drilling will play a key role in assessing the long-term scale and underground potential of the BBM system. Higher-grade intervals intercepted withing this shoot are summarized in Table 1.
Table 1: Selected Higher-Grade Intercepts from the Plunging Shoot at BBM
| Hole ID | From (m) | To (m) | Width (m) | Au (g/t) | Cu (%) | Ag (g/t) | Mo (ppm) | AuEq. (80%) | Comp. Trigger (Au g/t) |
| OEDD0074 | 265 | 286 | 21 | 3.1 | 0.55 | 1.9 | 329 | 3.1 | 2 |
| OEDD0074 | 304 | 315 | 11 | 3.6 | 0.45 | 1.5 | 349 | 3.4 | 2 |
| OEDD0097 | 461 | 471 | 10 | 2.1 | 0.46 | 1.2 | 137 | 2.2 | 2 |
| OEDD0104 | 326 | 338 | 12 | 2.8 | 0.84 | 3.8 | 704 | 3.2 | 2 |
| OEDD0105 | 93 | 103 | 10 | 2.4 | 0.54 | 1.8 | 511 | 2.5 | 2 |
| OEDD0119 | 208 | 223 | 15 | 3.6 | 0.52 | 1.8 | 479 | 3.4 | 2 |
| OEDD0152 | 523 | 544 | 21 | 3.2 | 0.68 | 2.1 | 534 | 3.3 | 2 |
| OEDD0153 | 657 | 669 | 12 | 2.2 | 0.43 | 1.8 | 359 | 2.2 | 2 |
| OEDD0157 | 241 | 246 | 5.00 | 3.7 | 0.38 | 1.3 | 582 | 4.6 | 2 |
| OEDD0157 | 261 | 268 | 7.00 | 2.9 | 0.68 | 1.8 | 383 | 4.1 | 2 |
| OEDD0157 | 272 | 275 | 3.00 | 5.9 | 0.80 | 3.3 | 204 | 7.2 | 2 |
| OEDD0157 | 298 | 308 | 10.00 | 3.9 | 0.48 | 1.3 | 309 | 4.7 | 2 |
BBM Resource Drilling
These results mark the second batch of assays from Awalé's 2026 resource development drilling across BBM, Charger, and Empire, forming part of the Company's 100,000-metre drill campaign at Odienné.
The 12 holes reported in this release form part of a 20-hole resource drilling program designed to support an initial mineral resource estimate for the BBM target in Q2 2026. This phase of drilling is testing the continuity of the BBM mineralized system to a depth of 300 metres below surface and further defining the geometry and grade distribution of the mineralized zones. Hole OEDD-157 was drilled as a twin to previously reported OEDD-74 as part of broader metallurgical studies where several other holes along with this twin hole were selected to give a representative sample for the study.
BBM Exploration
An initial two-hole diamond drill program has also been completed as a step-out to the northwest of the resource drill area, with the aim of better understanding the geology and tenor of mineralization associated with a modelled second plunging shoot.
If successful, further drilling will be planned to step down at depth and along strike to open additional mineralization potential and near-surface opportunities within the BBM system.
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.
Table 2: Significant Intercepts from Diamond Drilling - (from this release)
| Hole ID | From (m) | To (m) | Width (m) | Au (g/t) | Cu (%) | Ag (g/t) | Mo (ppm) | AuEq. (80%) | Comp. Trigger (Au g/t) |
| OEDD0157 | 229 | 230 | 1.0 | 1.3 | 0.62 | 3.3 | 340 | 1.9 | 0.5 |
| OEDD0157 | 238 | 310 | 72.0 | 1.8 | 0.36 | 1.1 | 266 | 2.0 | 0.2 |
| including | 238 | 276 | 38.0 | 2.1 | 0.47 | 1.5 | 376 | 2.4 | 0.5 |
| and | 241 | 246 | 5.00 | 3.7 | 0.38 | 1.3 | 582 | 4.6 | 2 |
| Including | 245 | 246 | 1.0 | 6.1 | 0.27 | 1.1 | 598 | 5.5 | 5 |
| and | 261 | 268 | 7.00 | 2.9 | 0.68 | 1.8 | 383 | 4.1 | 2 |
| and | 272 | 275 | 3.00 | 5.9 | 0.80 | 3.3 | 204 | 7.2 | 2 |
| and | 272 | 274 | 2.0 | 7.6 | 0.89 | 3.5 | 244 | 7.2 | 5 |
| including | 282 | 289 | 7.0 | 0.6 | 0.20 | 0.8 | 119 | 0.8 | 0.5 |
| including | 296 | 309 | 13.0 | 3.3 | 0.45 | 1.2 | 289 | 3.3 | 0.5 |
| and | 298 | 308 | 10.00 | 3.9 | 0.48 | 1.3 | 309 | 4.7 | 2 |
| and | 298 | 303 | 5.0 | 5.3 | 0.56 | 1.7 | 335 | 5.0 | 5 |
| OEDD0160 | 287 | 314 | 27.0 | 0.6 | 0.22 | 0.9 | 190 | 0.8 | 0.2 |
| including | 289 | 296 | 7.0 | 1.2 | 0.28 | 1.0 | 276 | 1.4 | 0.5 |
| and | 308 | 311 | 3.0 | 0.9 | 0.46 | 3.0 | 589 | 1.6 | 0.5 |
| 334 | 340 | 6.0 | 0.3 | 0.32 | 1.0 | 27 | 0.6 | 0.2 | |
| 351 | 353 | 2.0 | 0.7 | 0.80 | 2.1 | 59 | 1.5 | 0.2 | |
| OEDD0162 | 55 | 58 | 3.0 | 0.4 | 0.33 | 1.5 | 198 | 0.8 | 0.2 |
| 133 | 160 | 27.0 | 0.4 | 0.41 | 2.4 | 37 | 0.8 | 0.2 | |
| including | 145 | 149 | 4.0 | 1.1 | 0.77 | 4.1 | 49 | 1.8 | 0.5 |
| and | 154 | 156 | 2.0 | 1.0 | 1.26 | 8.2 | 55 | 2.3 | 0.5 |
| OEDD0164 | 198 | 204 | 6.0 | 0.8 | 0.82 | 1.7 | 125 | 1.6 | 0.2 |
| including | 198 | 203 | 5.0 | 0.9 | 0.91 | 1.9 | 136 | 1.8 | 0.5 |
| OEDD0167 | 266 | 271 | 5.0 | 1.3 | 0.03 | 0.3 | 29 | 1.1 | 0.2 |
| including | 266 | 268 | 2.0 | 2.6 | 0.06 | 0.4 | 62 | 2.2 | 0.5 |
| OEDD0168 | 223 | 231 | 8.0 | 0.9 | 0.28 | 0.7 | 154 | 1.1 | 0.2 |
| including | 223 | 229 | 6.0 | 1.0 | 0.34 | 0.8 | 201 | 1.3 | 0.5 |
| 290 | 292 | 2.0 | 1.5 | 0.65 | 1.8 | 66 | 2.0 | 0.5 | |
| OEDD0171 | 50 | 56 | 6.0 | 0.6 | 0.31 | 1.3 | 221 | 0.9 | 0.2 |
| 62 | 74 | 12.0 | 0.4 | 0.36 | 1.3 | 107 | 0.8 | 0.2 | |
| including | 63 | 67.5 | 4.5 | 0.5 | 0.49 | 1.5 | 128 | 1.0 | 0.5 |
| 94.5 | 142 | 47.5 | 0.5 | 0.42 | 2.1 | 35 | 0.9 | 0.2 | |
| including | 110 | 121 | 11.0 | 0.9 | 0.71 | 3.7 | 56 | 1.6 | 0.5 |
| and | 129 | 133 | 4.0 | 1.0 | 0.66 | 3.4 | 36 | 1.6 | 0.5 |
| BBDD0002 | 172 | 174 | 2.0 | 1.8 | 0.36 | 1.8 | 22 | 1.9 | 0.2 |
| including | 172 | 173 | 1.0 | 3.4 | 0.62 | 3.0 | 36 | 3.4 | 0.5 |
| 224 | 273 | 49.0 | 0.5 | 0.37 | 1.9 | 36 | 0.9 | 0.2 | |
| including | 230 | 237 | 7.0 | 0.8 | 0.19 | 0.9 | 12 | 0.8 | 0.5 |
| and | 241 | 247 | 6.0 | 0.6 | 0.39 | 1.5 | 16 | 0.9 | 0.5 |
| and | 251 | 269 | 18.0 | 0.6 | 0.54 | 3.0 | 58 | 1.1 | 0.5 |
| BBDD0003 | 324 | 350 | 26.0 | 0.7 | 0.53 | 1.2 | 197 | 1.3 | 0.2 |
| including | 331 | 349 | 18.0 | 0.9 | 0.64 | 1.4 | 199 | 1.6 | 0.5 |
| 383 | 427 | 44.0 | 0.8 | 0.25 | 0.7 | 360 | 1.1 | 0.2 | |
| including | 387 | 400 | 13.0 | 1.2 | 0.21 | 0.6 | 263 | 1.3 | 0.5 |
| and | 406 | 427 | 21.0 | 0.9 | 0.27 | 0.7 | 217 | 1.1 | 0.5 |
| BBDD0005 | 164 | 165 | 1.0 | 2.7 | 1.15 | 5.3 | 207 | 3.5 | 0.5 |
| 229 | 256 | 27.0 | 1.0 | 0.18 | 0.8 | 237 | 1.1 | 0.5 | |
| BBDD0007 | 51 | 61.5 | 10.5 | 0.4 | 0.24 | 1.6 | 14 | 0.6 | 0.2 |
| 66 | 88 | 22.0 | 0.4 | 0.43 | 1.8 | 23 | 0.8 | 0.2 | |
| including | 57.5 | 61.5 | 4.0 | 0.7 | 0.39 | 2.8 | 18 | 1.0 | 0.5 |
| 76 | 80 | 4.0 | 0.6 | 0.53 | 2.0 | 29 | 1.1 | 0.5 | |
| 85 | 87 | 2.0 | 0.6 | 0.59 | 2.4 | 28 | 1.1 | 0.5 | |
| 101 | 102 | 1.0 | 1.6 | 0.11 | 1.1 | 5 | 1.4 | 0.5 | |
| BBDD0012 | 97.5 | 98 | 0.5 | 13.1 | 2.38 | 9.9 | 32 | 13.1 | 0.5 |
| 157 | 168 | 11.0 | 2.2 | 0.12 | 0.9 | 27 | 1.9 | 0.2 | |
| including | 158 | 165 | 7.0 | 3.3 | 0.17 | 1.3 | 38 | 2.9 | 0.5 |
| and | 158 | 159 | 1.0 | 6.2 | 0.18 | 3.3 | 28 | 5.2 | 5 |
| and | 160 | 162 | 2.0 | 5.9 | 0.34 | 2.0 | 62 | 5.1 | 5 |
| 280 | 281 | 1.0 | 1.2 | 0.05 | 0.4 | 3 | 1.0 | 0.5 | |
| including | 285 | 317 | 32.0 | 1.9 | 0.34 | 1.4 | 180 | 2.0 | 0.5 |
| including | 288 | 290 | 2.0 | 7.2 | 0.71 | 4.5 | 149 | 6.6 | 5 |
| and | 311 | 313 | 2.0 | 6.6 | 1.09 | 3.8 | 1622 | 7.4 | 5 |
Table 3: BBM Drill Collar Details - (all collars from this release)
| Hole ID | Easting | Northing | RL_M | EOH_M | Azimuth_True | Dip |
| BBDD0002 | 655453.4 | 1048191.8 | 425.6 | 308.25 | 28.73 | -58.45 |
| BBDD0003 | 655376.0 | 1048140.7 | 426.3 | 460.8 | 34.9 | -55 |
| BBDD0005 | 656057.9 | 1047843.0 | 419.8 | 296.36 | 34.5 | -55.1 |
| BBDD0007 | 655414.4 | 1048316.1 | 423.4 | 140.38 | 39.8 | -52.2 |
| BBDD0012 | 655671.0 | 1048089.5 | 419.6 | 415 | 24.5 | -59 |
| OEDD0157 | 655921.5 | 1047962.6 | 415.5 | 335.87 | 24.01 | -61.72 |
| OEDD0160 | 655721.2 | 1048437.8 | 415.4 | 395.24 | 213.97 | -61.12 |
| OEDD0162 | 655541.7 | 1048214.1 | 423.5 | 181 | 34.56 | -56.23 |
| OEDD0164 | 655734.1 | 1048326.1 | 417.0 | 266.39 | 214.31 | -58.28 |
| OEDD0167 | 655689.0 | 1048390.1 | 417.4 | 344.22 | 215.6 | -59.63 |
| OEDD0168 | 655775.2 | 1048379.6 | 414.8 | 329.16 | 215 | -58 |
| OEDD0171 | 655605.7 | 1048185.8 | 421.7 | 191.5 | 34.9 | -55 |
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 Intertek 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 Australia 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 2 g/t Au, 5 g/t Au, and 10 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.
Au Equivalent Calculations
Au Equivalent is calculated using the following parameters in USD: Au - 1910/Oz (Troy), Cu 3.80/lb, Mo 40,000/Tonne, and Ag 23.40/Oz (Troy). The Formula AuEq = Au (g/t) + ((Cu (ppm) * 0.00014) + (Mo (ppm) * 0.00065) + (Ag (g/t)*0.01225)). An 80% metallurgical recovery is assumed for all metals, as the specific recovery rates for individual metals are unclear, and assuming different recoveries would be premature at this stage.
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 | |
| AuEq. | Gold equivalent | |
| Cu | Copper | |
| g/t | Grams per tonne | |
| km | Kilometres | |
| m | Metres | |
| MRE | Mineral Resource Estimate | |
| Mo | Molybdenum | |
| ppm | Parts per million |
AWALÉ Resources Limited
On behalf of the Board of Directors
"Andrew Chubb"
Chief Executive Officer
| FOR FURTHER INFORMATION, PLEASE CONTACT: |
| Andrew Chubb, CEO (+356) 99139117 a.chubb@awaleresources.com |
| Ardem Keshishian, VP Corporate Development +1 (416) 471-5463 a.keshishian@awaleresources.com |
| The Company's public documents may be accessed at www.sedarplus.com. 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/284808
