AWALE RESOURCES - New Permit Granted in Côte d'Ivoire

VANCOUVER, April 11, 2018 /PRNewswire/ - Awalé Resources Limited ("Awalé" or the "Company") (TSXV: ARIC) is pleased to announce the granting of a new prospective gold permit 'Nianda', in the Comoé district of south eastern Côte d'Ivoire. The permit is the second granted of three Awalé applications that form the Company's Abengourou Project (Figure 1 & 2), the award of this permit now gives the Company a district presence at Abengourou with 718 square kilometres of granted tenure.

Awalé operates an active pipeline of projects in Côte d'Ivoire at various stages of exploration, with the Bondoukou Project currently being the most advanced and the major focus.  The prospective Odienné and Abengourou gold projects are at a formative stage with initial exploration having recently commenced.

Initial work on the Abengourou Project has commenced with confirmatory soil sampling on the initial, and more advanced, Amélékia permit.  Amélékia was previously owned by Golden Star Resources Ltd and based on their historic results has significant gold soil anomalies (Figure 2) which require confirmation by Awalé.  Following this a more detailed infill program will be undertaken to identify possible scout drill targets.

View Attached Figures:
http://www.awaleresources.com/_resources/maps/2nd_Permit_Granted_Abengourou.pdf

CEO Glen Parsons commented today:

"The granting of our second permit in this prospective region gives Awalé scale in the Abengourou area.  This enhances our strategy of acquiring and advancing prospective permits to form project areas with significant exploration scale and potential. In close proximity, to the north of Abengourou, we have the more advanced Bondoukou Project where initial scout drilling has recently been completed with encouraging gold mineralization and the next phase of work is about to commence.

The strategy for Awalé is multiple economic gold discoveries whilst advancing and managing a pipeline of gold projects in Côte d'Ivoire offering district scale. Awalé is now active on all three of our project areas (Bondoukou (1,192 km²), Odienné (397 km²) and Abengourou (718 km²).

We look forward to keeping the market informed of our progress."

Background on Nianda and Amélékia permits forming part of the Abengourou project

The Abengourou project consisting of two granted permits (Amélékia and Nianda) and one permit application, is located within a large meta-sedimentary package comprising metamorphosed siltstones and arenites which have been intruded by granite and diorite bodies along the axis regional-scale fold structures (Figure 2). The project is considered gold prospective with government mapping indicating gold occurrences throughout the district, as well as both current and relict orpaillage (Artisanal miners) noted by Awalé in the project area.

The region forms the south western Côte d'Ivoire extension of the Sunyani Basin from Ghana and interpreted extensions the Sefwi Belt contacts lie south of the project area. Newmont's Ahafo gold mining district is located on the Sefwi Belt, close to the Sunyani Basin contact.

The 343km² Nianda permit lies to the northeast of the Amélékia permit and the anomalies that lie within. Nianda has the same host rock geology as well as both extensions of, and parallel structures to those encountered at Amélékia.

Much of the Amélékia permit (375 km²) was formerly held by Golden Star Resources and the legacy data for the area has been retrieved by the company.  Data retrieved from this period of activity includes over 100 stream sediment samples, over 7,000 soil and auger geochemistry samples along with rock chip sampling and limited pitting. The work completed reveals anomalous gold geochemical trends and soil anomalies that are parallel to the regional structural trends as seen in geophysics and government mapping (Figure 2). Strike lengths of these anomalies trace up to 10km in the south of the permit area and 6km in the northeast, other shorter strike length anomalies are also apparent.

The permits are 100% held by Awalé through its local subsidiary Awalé Resources SARL.

The newly granted Nianda permit will be explored in a systematic manner beginning with reconnaissance mapping and silt sampling after the monsoon season has passed (Q4 2018).

Original laboratory reports for the data obtained and details on quality control sampling for work completed at Amélékia are not available to be verified by Awalé. However, the data gives the Company initial focus areas to assess and complete due diligence sampling and geological mapping in order to verify the anomalies in the legacy data. If the data is found to be robust then drill targets will be rapidly developed.

ON BEHALF OF THE BOARD

AWALE RESOURCES LIMITED.                                                                                    

"Glen Parsons"                                                                                                

Glen Parsons, President and CEO                                                                                            

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 Operating Officer and holds a Economic Geology degree, is a Member of the Australian Institute of Geoscientists (AIG), and is a Member of the Society of Economic Geologists (SEG).  Mr Chubb has 17 years of experience in international minerals exploration and mining project evaluation.

Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable securities laws. Readers are cautioned not to place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by such information. The statements in this news release are made as of the date hereof. The Company undertakes no obligation to update forward-looking information except as required by applicable law.

Cautionary Statement

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SOURCE Awale Resources