PDI Makes Strategic Investment in Awalé Resources

Predictive Discovery Limited (ASX:PDI, TSX:PDI) (“PDI” or the “Company”) is pleased to announce it will make a US$10 million investment in West African-focused exploration company Awalé Resources Limited (TSXV:ARIC) (“Awalé”) for a strategic shareholding of approximately 12.3% of Awalé (on an undiluted basis and before the potential exercise of participation rights held by certain existing Awalé shareholders). Awalé is focused on discovering large-scale gold and gold-copper deposits in north-western Côte d'Ivoire. Awalé’s flagship Odienné Project comprises a large and strategic 2,346km 2 landholding across seven exploration permits and applications, including 797km 2 held in a joint venture with a subsidiary of Newmont Corporation (currently 61%, earning 75%), which is sole-funded by Newmont and managed by Awalé (“Awalé-Newmont JV”). The Awalé-Newmont JV hosts an initial Inferred Mineral Resource estimate of 32.4Mt at 1.64g/t AuEq. for 1.71Moz AuEq. across the BBM, Charger and Empire deposits at Odienné. Drilling is ongoing with the aim to expand and upgrade the current Mineral Resource and test additional targets within the broader joint venture tenure. Initial technical, economic, environmental and social studies for Odienné have also commenced. Awalé’s 100%-owned exploration permits and applications across the broader Odienné district host multiple untested and early-stage targets, providing district-scale growth potential. Awalé will use proceeds from PDI’s strategic investment towards advancing exploration across these 100%-owned permits. PDI Managing Director & Chief Executive Officer Matthew Wilcox said: “Awalé is an emerging West African gold exploration and development company, with a l