Awale Resources Limited · TSXV:ARIC
Awale Resources — Investor Presentation (June 2025)
28 slides from Awale Resources's investor presentation, Jun 13, 2025
Slide 1: Odienné: A New World-Class Copper-Gold District
ODIENNÉ: A NEW WORLD-CLASS COPPER-GOLD DISTRICT ARIC:TSX-V AWALERESOURCES.COM Q2 2025
Slide 2: Investment Highlights
INVESTMENT HIGHLIGHTS ❖ District Scale ❖ Elephant Country 2,346 km² land package West Africa: 10,000 tonne ▪ 3x the size of New York City gold endowment ▪ 4 discoveries & multiple ▪ Prime Craton-scale advanced targets exploration ❖ Charger Target ❖ BBM Target 45.7 g/t Au over 32m Near-term resource
Slide 3: Fortuna Mining strategic investment
Fortuna Mining strategic investment ➢ Strategic equity investment by Fortuna Mining: o $8.26 million (US$6 million) for 15% ownership o $0.55/share - 19% premium on 10-day VWAP o No warrants ➢ C$16 million in treasury ➢ Validates the discovery potential of Awale's 100%-owned ground ➢ Recognition of
Slide 4: West Africa is elephant country, Odienné is a new IOCG style district
West Africa is elephant country, Odienné is a new IOCG style district West Africa is one of the largest gold producing regions in the world ➢ Odienné District - Identifying the connection of regional scale structures and local late intrusions – a hybrid mineralization model for IOCG mineralization i
Slide 5: Odienné Project: A district scale land package
Odienné Project: A district scale land package ➢ Odienné covers 2,346 km2 area in 7 permits: 2 ▪ 100%-Owned: 3 granted (931 km2) and 2 applications (618 km2) ▪ Awalé-Newmont JV: 2 granted (797 km2) ▪ Huge land package: 3 x the size of New York City ➢ Multiple Discoveries made: BBM Discovery ▪ Charge
Slide 6: Charger: Highest-grade gold discovery in Africa in decades
Charger: Highest-grade gold discovery in Africa in decades ➢ Remarkable grades and consistent mineralization Best Reported Gold Intercepts throughout the intersections: o 57m @ 26 g/t Au - OEDD-83 o 29m @ 20 g/t Au - OEDD-88 o 59m @ 14.7 g/t Au - OEDD 100 ➢ Near-surface, high-grade gold discovery wi
Slide 7: Charger: Highest-grade gold discovery in Africa in decades
Charger: Highest-grade gold discovery in Africa in decades ➢ In the Discovery Zone - New Fold Model o Folding a potential control on high grade mineralization o Thickening in hinge zones of fold contains broader and higher-grade mineralization ➢ Significant scope for building high-grade volume as we
Slide 8: Charger: Highest-grade gold discovery in Africa in decades
Charger: Highest-grade gold discovery in Africa in decades Long Section – Continuity of Mineralization, Open at Depth Core photos from OEDD-83 (note chaotic and folded orientation vs consistent orientations) Gold Grades in Interpreted Hinge and Limb Zones Hole ID From (m) To (m) Interval (m) Gold g/
Slide 9: BBM: From surface discovery with resource potential
BBM: From surface discovery with resource potential ➢ BBM is a large, near surface gold-copper discovery , with open pit and underground potential ➢ Drilling Success Story – 50 holes drilled over 1.5 km strike ▪ All have intercepted the target shear zone ▪ Mineralization is open along a 15 km trend
Slide 10: BBM: At surface discovery with resource potential
BBM: At surface discovery with resource potential ➢ Consistent mineralization over 1 km down to a depth of 300m ➢ Future drilling along trend: ▪ Opportunity for strike expansion ▪ Delineation of new higher-grade shoots within structurally controlled mineralization ➢ 13,189m in 50 holes drilled in 3
Slide 11: BBM Satellites: Trend extended to over 15 km, including Fremen
BBM Satellites: Trend extended to over 15 km, including Fremen ➢ BBM trend extends to over 15 km, from 100%-owned Fremen target in the southeast to the Lando target in the northwest ➢ Satellite targets hold potential for new discoveries within 2 to 3 kilometres from BBM ▪ Completed 2,416m of RC dril
Slide 12: 100%-Owned Properties: Sienso permit and more discoveries on the horizon
100%-Owned Properties: Sienso permit and more discoveries on the horizon ➢ 5 permits over an area of ~1,550 km2 ➢ Sienso Permit ➢ October 2024 - Announced the discovery of 3.5 km gold footprint on same trend as BBM – the 'Fremen Target' with 37 parts per billion gold in termitaria footprint with a p
Slide 13: 100%-Owned Properties: Sienso permit and more discoveries on the horizon
100%-Owned Properties: Sienso permit and more discoveries on the horizon ➢ Completed 2,230m (24 holes) at Fremen target ✓ Confirmed near-surface mineralization along strike from BBM discovery ▪ 15m @ 0.6 g/t Au from 40m downhole in hole SSRC-20, including 7m @ 1.1 g/t Au from 46m downhole ▪ 8m @ 0.5
Slide 14: Empire: High-grade gold discovery
Empire: High-grade gold discovery ➢ From surface high-grade free gold target on 20 km-long corridor, 2.5 km south of Charger with only 5 km explored ➢ Presence of visible gold (VG) in drill core, incl.15m @ 13.1 g/t Au (OEDD-24) ➢ Early High-Grade Gold Intercepts: ▪ 18m @ 4.9 g/t Au from 40m downhol
Slide 15: Empire: High-grade gold discovery
Empire: High-grade gold discovery ➢ Near-surface and high-grade gold is characterized by multiphase alteration and veining hosted within a diorite intrusion ➢ Recently Completed 1,168m of diamond drilling in 6 holes results included: ▪ 16m @ 3.0 g/t Au from 44m downhole in OEDD-114 ▪ 10m @ 1.0 g/t A
Slide 16: Sceptre: Large 20 km2 copper anomaly
Sceptre: Large 20 km2 copper anomaly TSXV: ARIC | AwaleResources.com 16
Slide 17: Sceptre: Large copper anomaly, open at depth
Sceptre: Large copper anomaly, open at depth ➢ Sceptre East forms the eastern part of the over 20 km2 of Sceptre system ▪ 358.5m of 0.27% CuEq2 ▪ OEDD-43 is drilled to 365m, and ended in mineralization ➢ Sceptre Main • 5 km-long copper-gold geochemical anomaly • Mapping has revealed several polymeta
Slide 18: Lando: Large copper anomaly – 4km long gold-copper footprint
Lando: Large copper anomaly – 4km long gold-copper footprint ➢ Lando is 10 km northwest of the BBM ➢ 4 km-long copper-gold in-soil anomaly ▪ >86ppb Au with peak at 921ppb Au ▪ >387ppm Cu core + As and Mo ➢ Rock chip samples show brecciated quartz veins with up to 4.6 g/t Au and 3.0 g/t Au in altered
Slide 19: Untapped Opportunities: Further exploration potential in underexplored areas
Untapped Opportunities: Further exploration potential in underexplored areas ➢ Odienné West (PR-904) exploration permit granted in Q4 2024 ➢ Sama (PR-991) & Seydou (PR-992) exploration permits granted April 2025 ➢ Along same structural corridor as Charger, BBM, Empire, and Sceptre discoveries ➢ Acti
Slide 20: Odienné is an emerging district underpinned by a new model
Odienné is an emerging district underpinned by a new model ➢ Awalé interprets Odienné as a potential new Iron Oxide Copper Gold (IOCG) style province, and as a results has had the first mover advantage in the district and controls 2,346 km² of highly prospective land ➢ IOCG systems are global source
Slide 21: Côte d'Ivoire: A world-class mining jurisdiction
Côte d’Ivoire: A world-class mining jurisdiction ➢ Established & Thriving Mining Industry ▪ Amongst the shortest timelines from discovery to production ▪ Significant employer & economic contributor in Côte d’Ivoire ▪ est. 6% of GDP in 2025 ▪ Low-cost exploration ➢ Safety & Security ▪ Democratic elec
Slide 22: Odienné JV with Newmont: Low-dilution exploration
Odienné JV with Newmont: Low-dilution exploration ➢ Newmont has a 11.1% equity stake in Awalé Resources, and an earn-in that includes only 2 of the 7 permits and applications (1/3 of the total land holding) ➢ Newmont is funding 100% of the exploration on the JV permits, under the May 2024 agreement:
Slide 23: Milestones, next steps
Milestones, next steps 2023 2024 2025 Odienné Takes Centre Stage Drilling & Discoveries Resource Development Drilling & Moving on 100% Ground Early discovery Transformatory year for C$8.26M strategic Awalé investment by Fortuna Management change Mining to advance 100%- 12,700m in 43 holes Large-scal
Slide 24: Leadership
Leadership Andrew Chubb Andrew Smith CEO & Director VP, Exploration ▪ Economic geologist with +20 years of experience ▪ Economic geologist with +14 years of experience ▪ Led large teams from exploration to feasibility, including ▪ Proven discovery success in greenfield and near-mine Mantra Resources
Slide 25: Tight structure & strong shareholders
Tight structure & strong shareholders CAPITAL STRUCTURE Newmont 9.4% Basic Shares Outstanding 103,190,810 Restricted Share Units (RSUs) 460,000 Fortuna Warrants 19,725,116 14.6% Options 6,206,667 HNW & Retail ~ 103.2M 45.0% SHARES Fully-Diluted Shares Outstanding 129,582,593 OUTSTANDING Orecap TSXV:
Slide 26: Notes
Notes 1. BBM: Gold Equivalent (AuEq.) presented in this Presentation for drill intersections are calculated on a basis of US$1,910/oz for Au, US$3.80/lb for Cu, US$18.15/lb (US$40,000/tonne) for Mo, and US$23.40/oz for Ag, with an 80% metallurgical recovery assumed for all metals, as the specific re
Slide 27: Thank You!
T H A N K YO U ! Andrew Chubb Chief Executive Officer +356 99139117 (CET) a.chubb@awaleresources.com Ardem Keshishian, CFA VP, Corporate Development +1 (416) 471-5463 (EST) a.keshishian@awaleresources.com TSXV: ARIC | AwaleResources.com
Slide 28: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS This presentation 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, p