Awalé Resources' Bondoukou Project Continues to Produce Strong Gold Mineralization from their Maiden Drill Program.

VANCOUVER, March 1, 2018 /PRNewswire/ - Awalé Resources Limited ("Awalé" or the "Company") (TSXV: ARIC) is pleased to announce further results from the Bondoukou Project maiden scout drilling program in Côte d'Ivoire.  These results form the remainder of the initial results as reported on the February 2, 2018.  Continuous strong gold mineralization intercepted at the Fako prospect confirming the large alteration system along the 38km Awari Shear zone, as well as high-grade intercepts at the Casino prospect further North (Figure 1).  Highlights from the latest results include:

• BERC0019 (Fako) - 18 metres at 1.0 grams/tonne ('g/t') gold ('Au') from 1m downhole.
• BERC0012(Fako) - 2m at 0.96g/t Au from 17m
• BERC0050 (Casino) - 6 metres at 5.2 g/t Au (including 1m at 25.4 g/t Au) from 7m downhole.
• BERC0033 (Casino) - 2 metres at 6.1 g/t tonne Au (including 1 metre at 11.0 g/t Au) from 90m downhole
• BERC0040 (Casino) - 2 metres at 1.9 g/t Au from 42m downhole
• BERC0049 (Casino) - 2 metres at 2.4 g/t Au from 26m downhole

View attached figures: http://www.awaleresources.com/_resources/maps/CDI_NR_xxMarch2018_Maps_web.pdf

CEO Glen Parsons commented today:

"These latest results for the Fako Prospect, are about 500m along strike from the previously reported drill results. This encouragingly confirms multiple broad mineralized zones at the 6km Fako/Fako South prospects which remain open and within the 38km Awari Shear, which remains largely unexplored.  The Fako prospects represent a large mineralised alteration system along this major structure, which with future drilling and systematic exploration we expect to deliver multiple economic zones.

Furthermore, at the high-grade Casino Prospect 20km to the North, where rock chip samples from Artisanal Workings have previously returned up to 589 grams per tonne gold, a number of thin quartz veins were intercepted including an intercept returning 1m at 25.4 g/t Au.  Follow up drilling is warranted as this drilling appears to have missed the plunge of the main high-grade veins worked by the artisanal miners.

With the planned diamond and auger drilling programs in April we aim to : 1.) Gain a greater understanding of the geometry of this mineralized system at Fako for ongoing RC drill programs and 2.) Define multiple drill targets with our regional work programmes covering known structures and shear zones.  I look forward to keeping the market updated as these results materialise."

Background to the Fako and Casino Drilling

This second round of results completes the maiden drilling for the Fako and Fako south prospects and Eighteen (18) metres at 1 gram per tonne in hole BERC0019 confirms multiple mineralised zones intercepted along 6 strike kilometres within a large alteration system. These results complement the previously reported 2nd Feb 2018) significant intercepts from the Fako and Fako South prospects (Figure 2).

• BERC0001 – 3 metres at 5.02 g/t Au from 31m downhole
• BERC0005 - 5 metres at 1.46 g/t Au (including 1m at 3.24 g/t Au) from 78m downhole
• BERC0008 - 20 metres at 0.96 g/t Au (including 3m at 1.98 g/t, 4m at 1.62 g/t and 2m at 1.6 g/t Au) from 60m downhole (hole ends in mineralisation)
• BERC0009 – 7 metres at 1.2 g/t tonne Au (including 1 metre at 5.6 g/t Au) from 16m downhole
• BERC0022 – 2 metres at 4.69 g/t Au from 42m downhole
• BERC0023 – 1 metres at 2.25 g/t Au from 56m downhole

Further to the additional results, relogging of the drilling has recognised a zoned alteration system from distal epidote chlorite alteration through fuchsite alteration to a silica/sericite core, this zoned alteration is accompanied by an increase in shear intensity, and sulphide occurrence (pyrite +/- chalcopyrite). Figures 3 and 4 are cross sections of holes BERC0019 and BERC0008 showing the alteration system and mineralisation for sections at Fako. Preferred host rocks are intermediate intrusive rocks within a suite of mafic to ultramafic volcanics.

The company is now planning to mobilise a diamond rig before wet season to confirm the geometry of the mineralisation and alteration system.

Initial drilling (Figure 5) at Casino has intercepted mineralisation both down dip and along strike from existing orpaillage where rock chip sampling has returned results of up to 589 grams per tonne gold. Significant intercepts include (Figure 6):

• BERC0050 (Casino) - 6 metres at 5.19 g/t Au (including 1m at 25.4 g/t Au) from 7m downhole.
• BERC0033 (Casino) – 2 metres at 6.07 g/t tonne Au (including 1 metre at 11.0 g/t Au) from 90m downhole
• BERC0040 (Casino) – 2 metres at 1.94 g/t Au from 42m downhole
• BERC0049 (Casino) - 2 metres at 2.39 g/t Au from 26m downhole

The Casino prospect is under cover and a 700m long orpaillage zone defines a NE-SW structural corridor which contains metasedimentary and volcanosedimentary rocks in contact with a granodiorite intrusive. Alteration assemblages are dominated by a widespread and pervasive chlorite alteration, with more intensely silica/sericite altered zones along the intrusive contact and some discrete zones along shear planes in the metasediments.

Quality Control and Assurance

Mineralized intervals presented in Table 1 are drill intersection widths and may not represent true widths of mineralisation. Drill chips obtained from the Reverse Circulation drill program were logged on site with a representative sample of sieved and washed drill chips stored in plastic tray for a geological record. All drill samples were weighed for recovery estimation. Subsequent to completion of logging, samples were transported to a holding area or bag farm under constant supervision where sampling for analysis was completed. Standard sampling protocol involved the splitting of the bulk RC sample with a Jones Riffle Splitter for 1 m intervals in clearly or suspected mineralised sections. Two metre composite samples were collected with a spear for non-mineralised intervals.  All bulk bags have been stored under constant supervision until completion of analysis when any 2m composite samples above 0.2g/t will be re-split to 1 metre intervals.

Sampling equipment was cleaned with a clean brush and compressed air after each sample and the sample placed in a clean, new plastic bag with a sample tag inserted and sealed immediately for dispatch to the laboratory for analysis. Samples have been prepared by ALS Laboratories' preparation facility in Yamoussoukro Cote d'Ivoire and analysed at ALS Laboratories' analytical facility in Kumasi, Ghana. Samples have been analysed for gold using a 50g Fire Assay with AAS finish (with gravimetric methods for high grade samples). Standards and blanks were inserted in to the analytical sequence on the basis of one standard for every 20 samples, 2 blanks in every batch, additionally one duplicate was taken every 20 samples.

Table 1. Technical and assay data for drill holes reported in this release

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 an 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