Awalé Completes $20.7 Million Strategic Financing with Closing of Final Tranche

Awalé completes its previously announced strategic financing with the closing of Newmont's equity investment. Newmont maintains its approximately 8.2% ownership in Awalé. Awalé now has over $36.5 million in cash, while Newmont continues funding the Odienné Joint Venture.

Awalé Resources Limited (TSXV: ARIC) (OTCQX: AWLRF) (FSE: 2F60) (" Awalé " or the " Company ") is pleased to announce that it has closed the second and final tranche (the " Final Tranche ") of its non-brokered private placement previously announced on July 14, 2026 and July 28, 2026 (the " Offering ") through the subscription by Newmont Ventures Limited, a wholly-owned subsidiary of Newmont Corporation (NYSE: NEM) (ASX: NEM) (PNGX: NEM) (" Newmont "), pursuant to an investment agreement entered into between Newmont and the Company dated as of today's date (the " Investment Agreement ") and in accordance with the exercise of its pre-existing participation rights. The closing of the Final Tranche (the " Closing ") completes the Company's strategic financing with Predictive Discovery Limited (" PDI "), Fortuna Mining Corp. (" Fortuna ") and Newmont pursuant to the Offering, for aggregate gross proceeds of approximately $20.7 million. Proceeds from the Offering, including the Final Tranche, will be primarily used to advance exploration activities across the Company's 100%-owned properties at the Odienné Project in Côte d'Ivoire.

"We welcome Newmont's decision to maintain its ownership position in Awalé through this financing. As the world's largest gold producer, Newmont's continued backing through its ongoing funding of the Odienné Joint Venture and its commitment as a strategic shareholder is a strong endorsement of the quality and long-term potential of the Odienné Project. Together with the investments from PDI and Fortuna, Awalé now has over $36.5 million in cash, providing the flexibility to accelerate exploration across our 100%-owned properties," said Andrew Chubb, President and CEO of Awalé.

Pursuant to the Final Tranche of the Offering, Newmont subscribed for 1,982,538 common shares of the Company (" Common Shares ") at a price of $0.85 per Common Share for gross proceeds of $1,685,157.30. Following Closing, Newmont owns 11,682,639 Common Shares, representing approximately 8.2% of the Company's issued and outstanding Common Shares on a non-diluted basis. Following completion of the Offering, the Company has 143,317,133 Common Shares issued and outstanding. The Company issued an aggregate of 24,320,202 Common Shares to PDI, Fortuna, and Newmont for gross proceeds of $20,672,171.70. No warrants were issued and no commission was paid in connection with the Final Tranche of the Offering.

All securities issued pursuant to the Offering are subject to a statutory hold period of four months plus one day from their respective dates of issuance in accordance with applicable Canadian securities laws. The Offering remains subject to final TSX Venture Exchange (" TSXV ") acceptance. This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the " U.S. Securities Act "), or the securities laws of any state of the United States, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) absent registration under the U.S. Securities Act and applicable state securities laws or an exemption from such registration requirements. For the purposes of the Offering, U.S. dollar amounts have been converted to Canadian dollars using an exchange rate of US$1.00 = C$1.41...