Awalé Resources Limited: Bondoukou Project Delivers Initial High Grade Trench Results

VANCOUVER, March 4, 2019 - Awalé Resources Limited ("Awalé" or the "Company") (TSXV: ARIC) is pleased to announce initial results from the first 3 trenches of a currently planned 10 trench program for the Fako prospect at the Bondoukou Project, Côte d'Ivoire (Figure 1 and 2).


Highlights of the program completed to date include:

- BETR0003: returned 8m at 1.6 g/t Au and 17m at 2.6 g/t Au including 1m intervals at 10.5 g/t Au, 11.5 g/t Au and 4.8 g/t Au respectively. This mineralization appears to be associated with quartz vein-bearing shear zones. Selective sampling of a quartz vein within the last meter of the trench (79 to 80m) has delivered 14.7 g/t.

- BETR0001: Similarly returned 5m at 0.7 g/t Au and 4m at 0.8g/t Au

BETR0001 is located approximately 1.2 km from Trenches BETR0002 and 0003. Geological strike of the host rocks around mineralization intercepted in both trenches is close to perpendicular to the trench, and close to true width with a dip of 60 to 70 degrees to the south, the gold bearing quartz veins are both oblique and foliation parallel (figures 3 and 4).

These prospects were defined from the Company's maiden scout RC drill program (see releases February 2, 2018 and March 1, 2018), as well as results from our DD drill program (see results August 1,2018)


CEO Glen Parsons commented today:

"Our systematic exploration approach continues to increase our understanding of the Bondoukou System, and these encouraging trench results have delivered on our current objective of immediate new drill targets for follow up.

Awale maintains its focus on developing more of these new targets on all its prospects where similar exploration programs are currently being undertaken at both the Odienné and Abengourou Projects.

This focussed and geology driven systematic exploration approach will lead toward economic gold discoveries at Bondoukou and our other projects and I look forward to updating the market accordingly."

View attached figures:
http://www.awaleresources.com/_resources/maps/Fako__Trench__Results_1.pdf


Background

Two localities within the Fako prospect were selected for trenching where previous RC drilling delivered broad intercepts which included 18m at 1g/t Au in hole BERC0019 and 20m at 0.9 g/t in BERC0008. The trenches were planned to intercept similar or new mineralisation as well as understand controls on mineralisation intercepted in the RC drilling (release Feb. 2nd, 2018). Some follow-up diamond drilling in these areas did not complete the understanding of the structural framework associated with mineralisation (see release 1st August 2018), the trenching and associated mapping is expected to complete this understanding.

The rocks contained within the Awari Shear are lower Birimian and consist of greenschist facies altered ultramafic, mafic to andesitic volcanic and volcaniclastic rocks. Rocks in the footwall of the shear consist of an amphibolite to granulite facies metamorphic complex which is interpreted to predate the deposition of the volcanic and volcaniclastic rocks contained within the Awari Shear. There is an abrupt change in the metamorphic grade between these two major geologic units.

Initial interpretation from the trenches suggests the north dipping metamorphic complex forms a competent footwall block and the mafic hanging wall rocks to form a brittle ductile environment. The hanging wall rocks appear to form a sequence of SW verging folds which look to have shallow plunging shoots within antiformal hinges. This relationship is clear in both trenched areas (approximately 1km apart) and is evident a further 6 kilometres to the southeast from geological mapping following geochemical anomalism along this contact. The results from trench BETR0001 also suggest there is also mineralisation associated with fuchsite/sericite alteration and shearing close to the contact between the metamorphic complex and the hanging wall mafic rocks.

Planning has now been completed for step out trenches testing strike extension of the high-grade mineralisation at a similar elevation and also further test the shallow plunging shoot model. The trenching is designed to culminate in a new RC DD program which follows high grade mineralisation intercepted in BETR0003.

Exploration also continues on other prospects within the Bondoukou project as well as the Odienné project. Work planned for the second quarter includes continued trenching at Fako as well as mapping and soil sampling on the Bondoukou North Permit, Auger drilling is also planned to follow up results reported on the 14th November 2018. At Odienné the company continues with mapping, trenching and channel sampling at the Empire and Vakaba prospects.


Table 1: All Results above 0.5 grams per tonne gold

Trench ID	East	North	RL	Dip 	Azimuth	From 	To	Width	Gold g/t	Comment
BETR001	546572	927943	261	0	40	54	55	1	0.72	
BETR001						58	59	1	1.24	
BETR001						66	67	1	0.79	
BETR001						67	68	1	0.68	
BETR001						78	79	1	0.5	
BETR001						79	80	1	0.58	
BETR001						80	81	1	0.79	
BETR001						81	82	1	0.68	
BETR001						82	83	1	0.76	
BETR001						8  5	86	1	0.77	
BETR001						86	87	1	1	
BETR001						87	88	1	0.72	
BETR001						88	89	1	0.62	
BETR001						132	134	2	0.86	2m Composite Sample
BETR002	545805	928508	276	0	170	39	40	1	0.81	
BETR002						40	41	1	0.5	
BETR002						50	51	1	0.78	
BETR003	545835	928587	269	0	170	0	2	2	0.53	2m Composite Sample
BETR003						4	6	2	1.66	2m Composite Sample
BETR003						6	8	2	1.26	2m Composite Sample
BETR003						8	10	2	0.7	2m Composite Sample
BETR003						10	12	2	2.98	2m Composite Sample
BETR003						58	60	2	0.91	2m Composite Sample
BETR003						62	63	1	0.66	
BETR003						63	64	1	10.47	
BETR003						64	65	1	1.3	
BETR003						65	66	1	11.52	
BETR003						66	67	1	0.68	
BETR003						67	68	1	0.82	
BETR003						68	69	1	0.68	
BETR003						69	70	1	0.73	
BETR003						70	71	1	2.3	
BETR003						71	72	1	2.31	
BETR003						72	73	1	1.65	
BETR003						73	74	1	4.85	
BETR003						74	75	1	1.96	
BETR003						75	76	1	1.07	
BETR003						76	77	1	1.46	
BETR003						77	78	1	1.09	

Quality Control and Assurance

All Trenches were continuously channel sampled in Saprolitic rock at the base or on their lower wall, a c.15kg sample was taken for each meter and riffle split. The 2m composite samples were sampled and split in a similar manner but with 15kg sampled for the 2 metre interval.

The Analytical work for geochemical samples and rock chip samples is being carried out at the independent Intertek Laboratories Ghana Ltd. an ISO 17025 (2017) Certified Laboratory. Samples are stored at the Company's field camps and put into sealed bags until collected by Intertek from the Company's secure Bondoukou office and transported by Intertek to their laboratory in Tarkwa, Ghana for preparation and analysis. Samples are logged in the tracking system, weighed, dried and finely crushed to better than 70%, passing a 2-mm screen. A split of up to 1,000-gram is taken and pulverized to better than 85%, passing a 75-micron screen, and a 50-gram split is analysed by fire assay with an AAS finish. Blanks, duplicates and certified reference material (standards) are being used to monitor laboratory performance during the analysis.


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

NEITHER 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



For further information:

you are invited to visit the Awalé Resources Limited website at www.awaleresources.com, or contact Karen Davies, Head of Investor Relations at Tel: 604.314.6270