Awalé Welcomes Predictive Discovery as a Strategic Investor

Highlights

• $14.15 million investment by Predictive Discovery for a 12.3% equity stake in Awalé.
• Reinforces Awalé as one of the premier gold exploration and development companies in Côte d’Ivoire and validates the quality of the Odienné initial Mineral Resource and its district-scale growth potential.
• Predictive Discovery is the third mining company to make a strategic investment in Awalé, joining Fortuna and Newmont.
• Awalé is expected to have over $30 million in cash post-closing, together with Newmont funding the Joint Venture.

Toronto, Ontario–(Newsfile Corp. – July 14, 2026) – Awalé Resources Limited (TSXV: ARIC) (OTCQX: AWLRF) (FSE: 2F60) (“Awalé” or the “Company“) is pleased to announce a strategic investment by Predictive Discovery Limited (ASX: PDI) (TSX: PDI) (“PDI”) for gross proceeds of $14.15 million through a non-brokered private placement (the “Offering“). Proceeds from the Offering will be primarily used to advance exploration activities across the Company’s 100%-owned properties at the Odienné Project (“Odienné” or the “Project“) in Côte d’Ivoire.

“We are pleased to welcome PDI as a strategic shareholder of Awalé. PDI has assembled a large West African gold platform, backed by an experienced management team with a proven track record of discovery, development, and mine operations in the region. This investment strengthens Awalé’s balance sheet and post-closing leaves the Company with over $30 million available to advance its 100%-owned ground. That gives us greater financial flexibility and real discovery optionality beyond the already prospective geology, drill results, and initial Mineral Resource delivered through the Odienné JV.

PDI’s decision to invest following our initial Mineral Resource also provides strong independent validation of both the quality of the resource and the district-scale growth potential that remains at Odienné. As the third mining company to make a strategic investment in Awalé, PDI reinforces the quality of our assets, our team, and our exploration strategy. We look forward to working closely with PDI and to doubling our efforts across the broader Odienné district,” stated Andrew Chubb, President & CEO of Awalé Resources.

Under the terms of the Offering, Awalé expects to issue 16,642,352 common shares in the capital of the Company (“Shares“) at a price of $0.85 per Share, representing approximately a 10% premium to the 5-day volume weighted average trading price of the common shares on the TSX Venture Exchange (the “TSXV“) ending on July 10, 2026, for gross proceeds of approximately $14,146,000. No warrants are being issued as part of the Offering.

Closing of the Offering is expected to occur on, or about, late July 2026 (the “Closing Date“), subject to the satisfaction of certain closing conditions by the parties, including receipt of TSXV final approval and all other necessary regulatory approvals, and the execution of an investor rights agreement (the “Investor Rights Agreement“) between PDI and the Company. The Shares will be subject to a hold period of four months plus a day following the Closing Date in accordance with applicable Canadian securities laws and the policies of the TSXV.

The Shares will represent a total position of approximately 12.3% of the issued and outstanding common shares of the Company upon completion of the Offering on an undiluted basis (and before the potential exercise of any participation rights discussed herein).

Pursuant to the Investor Rights Agreement to be entered on or prior to closing:

• PDI will be granted a participation right to maintain its pro-rata ownership in connection with future equity financings;
• PDI will be granted a top-up right to acquire common shares in a market transaction to maintain its pro-rata ownership in connection with future share issuances that are not an equity financing; and
• A joint technical advisory committee will be formed between PDI and Awalé.

In the event that PDI’s aggregate shareholdings are reduced to less than 10% of the issued and outstanding common shares of the Company on an undiluted basis, the above rights will be suspended, and the Investor Rights Agreement will terminate if PDI’s shareholding is less than 10% for a period of 12 consecutive months.

Current shareholders of Awalé, Fortuna Mining Corp. (“Fortuna“) and Newmont Ventures Limited (“Newmont“), a wholly-owned subsidiary of Newmont Corporation, have the right to participate, on equal terms, in equity issuances of the Company so as to maintain their pro-rata ownership in the Company. A subsequent news release will be issued should Fortuna or Newmont exercise their participation rights. In the event Fortuna and/or Newmont choose(s) to exercise their (its) right to participate, the Company may issue such additional 22,994,105 common shares at a price of $0.85 per Share (or such other amount as may be required for the participation rights of Fortuna and Newmont). There is no assurance that either Fortuna or Newmont will participate in the Offering, or maintain their proportionate equity ownership in the Company.

The Company has agreed to pay a cash commission of approximately 3.0% of the gross proceeds of the Offering from PDI, subject to the approval of the TSXV.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or the securities laws of any state of the United States, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) absent registration under the U.S. Securities Act and applicable state securities laws or an exemption from such registration requirements.

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.

The Odienné Project covers 2,346 km² across seven permits, including 797 km² held under the Awalé-Newmont Joint Venture. Awalé manages exploration activities across the joint venture area, with funding currently provided by Newmont Ventures Limited under the Exploration Agreement signed in May 2022.

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

With a skilled and experienced technical team, 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.

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 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, statements regarding the completion of the Offering and the exercise of participation rights by Fortuna and Newmont, 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 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 satisfaction of the conditions to the completion of the Offering, 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.

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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.

NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

Source: https://www.newsfilecorp.com/release/305170/Awal-Welcomes-Predictive-Discovery-as-a-Strategic-Investor