AWALE RESOURCES– POISED FOR MUTIPLE GOLD DISTRICT SCALE DISCOVERIES IN CÔTE D’IVOIRETSXV-ARIC May 2020

Chief Executive Officer - Glen ParsonsChief Operating Officer - Andrew ChubbInvestor Relations - Karen Davies

AWALE RESOURCES– FIRST GOLD DISCOVERY at the ODIENNE –EMPIRE PROSPECT

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Investment Summary

• Under explored Jurisdiction- 33% of West

Africa’s Birimian Geology with less than 10

percent of resources

• Large strategic gold anomalous land package

with district scale over 3 projects areas covering

2,307 km 2:

o Bondoukou 100% (1,192 km 2),

o Abengourou 100% (718 km 2).

o Odienné 90% (397 km 2)

• Maiden Drill program delivers first golddiscovery at the Empire Prospect- Odienné

• Rapid advancement of defined drill targets at

Bondoukou with material advancement in

geological and mineralisation understanding

• Successful Board and Management Team, with

proven record of value delivery for

shareholders

Odienné –Gold discovery (drilling Late June)• Extension drilling and plunge test• 3 new high order Auger geochemical targets

drill ready along 3km trend

Bondoukou – Multiple high order Gold anomalies for drill testing late Q3• Fako target- Awari Shear• Samanda Prospect – 2 * 3km gold in soil Geochem targets• Kodio Trend – 17.5km continuous gold in auger anomalies

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Capital Structure, Shareholding and Team Summary

Board CEO - Glen Parsons ( Previous CEO Mariana Resources Limited)

Director - Eric Roth ( Previous COO Mariana Resources Limited)

Director - Ron Ho, Sandstorm Gold Limited

Director - Derk Hartman

Management TeamCEO - Glen ParsonsCOO - Andrew ChubbCFO - Sharon CooperIR- Karen DaviesCountry Manager Cote d’Ivoire - Karl AkuesonOperations Manager Cote d’Ivoire - Koffi GbameleExploration Manager Cote d’Ivoire – Andrew Smith

Shares in Issue 79,65M

Warrants in Issue (Per Insert) 5,847,222

Options- under plan per insert 2,330,000

Fully Diluted Shares in Issue 87.75M

Cash on Hand (March) C$0.9M

Market Capitalisation (@ 10 c/share) C$8 million

Management and Directors 26%

Sandstorm Gold Limited 16%

Capital DI Limited 12%

Detail of WarrantsExercise Price Number of Warrants Expiry

0.25 200,000 December 29, 2020

0.32 5,647,222 December 31, 2021

Total 5,847,222

Detail of OptionsExercise Price Number of Options Expiry

0.10 400,000 April 29, 2021

0.40 1,930,000 January 16, 2021

Total 2,330,000

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Odienné Project – Empire Discovery

Empire Discovery

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Odienné Project– Empire Discovery

50 Metres

HIGHLIGHTS• OEDD0001 - 18.15m at 4.9 g/t Au from 40 m downhole,

including 10.4 m at 7.9 g/t Au from 40m downhole

• OEDD0002 - 27 m at 3.1 g/t Au from 43.2 m downhole

including 9 m at 5.3 g/t Au from 43.2 m downhole.

• OEDD0009 - 2.65m at 15.4 g/t Au from 40m &,

o 16.74m at 1.9 g/t Au from 74.26m downhole

including 9.28m at 2.7g/t Au from 80.7m

&,

o 16m at 1.8 g/t Au from 98m downhole,

including 3m at 7.6 g/t Au from 111m

• OERC0021 - 32m at 0.9g/t Au from 32 m downhole,

including 2m at 4.8g/t Au from 53mo 34m at 1.9 g/t Au from 96m downhole,

including 18m at 3g/t Au from 97m and

2m at 15.5 g/t Au from 111m

o 29m at 1.2g/t Au from 134m downhole,

including 11m at 2.5g/t Au from 140m & 2m at 5.6g/t Au from 140m downhole

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Odienné Project– Empire Discovery Cross Sections

• High Grade mineralisation with visible gold - robust mineralisation and continuity over central drill

zone

• Open in all directions

• Hosted in quartz extension veins within a brittle/ductile deformation zone of a diorite body that

has intruded a pre-existing WNW trending mylonite bearing structure.

• Empire is a ‘classic’ orogenic shear zone hosted gold target, which has potential to build to +1m

Oz rapidly

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Odienné Project– Empire Discovery Next Steps - Discovery drilling - extension and plunge testing- Exploration Upside 3 New Targets from Gold in Auger – Structure Remains Open East and West

- Discovery drilling extension and plunge

- New Target exploration drilling

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Odienné Project– Multielement ChemistryTellurium over Gridded Gold

Immobile Element Data

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Bondoukou Project- On going Drill Target Generation

Regional Scale Interpretation from

Geophysics and surface mapping and

sampling on the Bondoukou Permits has

identified four (4) fertile fluid pathways,

generating a pipeline of potential sites

for gold mineralization.

Continue defining targets to drill ready

status for testing in H2 2020 on fertile

structures identified:

• Awari Shear 40km mineralised

• Kodio Trend- 17.5km near

continuous gold anomaly in Auger

• Samanda Trend – 12 km intrusive

contact with 2 3km Gold in soil

anomaly

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Bondoukou Project – Bandoli Syncline/Awari Shear –New Gold Anomalies Identified

• ‘Awassi’ - Previously untested

northwest extension of the Awari Shear

• Drilled on a 640m line spacing • Anomalous zones are defined by

>13ppb gold anomalism with >50ppb cores and a maximum value of 569ppb

• ‘Samanda’ - Previously

untested NNE Structural Trend• Major Lith Contact b/w Mafic and

Intermediate Volcanics and Granite

• 2 x 3km trends identified in soils

• ‘Kodio’ - Previously untested

NNW Structural Trend• Major Lith Contact • Late Intrusions • 17km trend identified from broad

(640x50m Line) Auger

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Bondoukou Project – The Awari Shear – Fako Trenching

Highlights of the program completed to date include:

BETR0003: 8m at 1.6 g/t Au from 4m and 17 meters at 2.6 g/t Au from 62 meters including 1m intervals at 10.5 g/t Aufrom 63m, 11.5 g/t Au from 65m and 1m at 4.8 g/t Au from 73m.

Selective sampling of a quartz vein within the last meter of the trench (79 to 80m) has delivered 14.7 g/t.

BETR0005: 21m at 1.96 grams/tonne gold (g/t Au) from 36m with included 1m intervals at 11.5 g/t, 5.5 g/t and 5.4 g/trespectively

Key Objective- Understanding the structural architecture of this shear zone which is key to identifying potential trap sitesfor the precipitation of economic gold. Current targets identified from in situ Au anomalism generated from the recentAuger drilling.

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Bondoukou Project– Kodio Trend

Fractured and brecciated quartz vein with silica hematite infill , boxworks7.03 g/t Au

Silicified breccia. Rare sulphide. 9.85 g/t Au

• 17km long Trend

• Gold Bearing (rock chip

and stream

• 1st Pass Auger recently

completed 640x 50m

spacing – covers entire

17km

• Prominent NNW

trending structure with

left stepping jogs

• Greywacke and shales

intruded by late granites

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Bondoukou Project – Samanda Target• Two new 3km long

gold targets along the

previously untested

Samanda Trend

• Greater than 10ppb

gold (“Au”) soil

anomalies with

>40ppb Au cores and

a peak value of 4,297

ppb Au.

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Abengourou Project– Results and Planned works

Results from exploration:

Confirmation by Awalé of

large soil anomalies

Planned / Current Works

o Ongoing geological

mapping, pitting and

trenching.

o Following successful

geo-chemical results –

possible scout drilling

of high priority drill

targets.

Nianda Permit untested

along same geology and

structures as Amélékia

o Stream (Silt) sampling

at Nianda.

• Forms part of Awale’s

prioritisation pipeline

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Summary of planned Exploration Program

ODIENNE• Trenching- Minimum 1 trench per target to confirm structural information • Geophysics—IP over extension auger anomaly (also IP if Aero Magnetic survey not possible)

• Drilling late June/July = Discovery Zone - Drill Infill/Plunge Testing—c.1500—2000m, New Auger

Targets 3000—3500m ( RC with some DD)

• Follow up Drilling Q3/4

• Regional—Ongoing mapping and geochemistry on new targets

BONDOUKOU • Kodio Auger infill—7000m in 1700 holes

• Trenching at Samanda — 8 trenches, Kodio—Trenches—dependent on number of targets

developed from infill auger drilling.

• Q3/4 - Scout drill minimum of 4 targets 5000m

Project Generation - West Africa - Core d'Ivoire

Target Generation (Regional Surveys - Aerial Surveys, Geochemistry, Geophysics)

Bondoukou

Odienné

Abengourou

New Opportunities

Target Testing (Drill Target Testing/Scout Drilling etc.)

Bondoukou -15 prospective targets

Odienné- 12 Prospective targets

Target Definition & Resource Drilling

Feasability Studies

Awalé’s Objectives on track- Minimum of 2 Discoveries with Multi Million Ounce Gold Potential

www.awaleresources.comThank You