Cardiol Therapeutics President and CEO, David Elsley

PRISM MarketView announces the release of an informative interview with Cardiol Therapeutics President and CEO, David Elsley, who discusses the company’s lead oral drug, CardiolRx, which is entering a late-stage Phase III clinical trial, MAVERIC, for patients with recurrent pericarditis who are at high risk for recurrence.

Cardiol Therapeutics is a clinical-stage life sciences company focused on the research and clinical development of anti-inflammatory and anti-fibrotic therapies for the treatment of heart disease. Elsley states, ‘CardiolRx is uniquely positioned to address critical gaps in the current treatment options for recurrent pericarditis.’

During a discussion with PRISM MarketView, Elsley describes the market opportunity for its lead drug candidate, its key differentiators from other treatments, the recent Phase II MAvERIC-Pilot study results, the company’s financial position and key upcoming milestones. ‘With its potential to be safer, more cost-effective, and disease-modifying, CardiolRx could significantly improve the standard of care for the thousands of patients living with recurrent pericarditis,’ Elsley commented regarding the potential positive impacts and market opportunity for its lead drug candidate.

The full interview can be found at: https://prismmarketview.com/cardiol-therapeutics-nasdaq-crdl-accelerates-late-stage-trial-targeting-1b-recurrent-pericarditis-market-aiming-to-transform-heart-disease-care/

About Cardiol Therapeutics

Cardiol Therapeutics Inc. (NASDAQ: CRDL) (TSX: CRDL) is a clinical-stage life sciences company focused on the research and clinical development of anti-inflammatory and anti-fibrotic therapies for the treatment of heart disease. The Company’s lead small molecule drug candidate, CardiolRx (cannabidiol) oral solution, is pharmaceutically manufactured and in clinical development for use in the treatment of heart disease. It is recognized that cannabidiol inhibits activation of the inflammasome pathway, an intracellular process known to play an important role in the development and progression of inflammation and fibrosis associated with myocarditis, pericarditis, and heart failure.

Cardiol has received Investigational New Drug Application authorization from the United States Food and Drug Administration (‘US FDA’) to conduct clinical studies to evaluate the efficacy and safety of CardiolRx in two diseases affecting the heart: recurrent pericarditis and acute myocarditis. The MAVERIC Program in recurrent pericarditis, an inflammatory disease of the pericardium which is associated with symptoms including debilitating chest pain, shortness of breath, and fatigue, and results in physical limitations, reduced quality of life, emergency department visits, and hospitalizations, comprises the Phase II MAvERIC-Pilot study (NCT05494788), the Phase II/III MAVERIC-2 trial, and the planned Phase III MAVERIC-3 trial. The ARCHER trial (NCT05180240) is a Phase II study in acute myocarditis, an important cause of acute and fulminant heart failure in young adults and a leading cause of sudden cardiac death in people less than 35 years of age. The US FDA has granted Orphan Drug Designation to CardiolRx for the treatment of pericarditis, which includes recurrent pericarditis.

Cardiol is also developing CRD-38, a novel subcutaneously administered drug formulation intended for use in heart failure – a leading cause of death and hospitalization in the developed world, with associated healthcare costs in the United States exceeding $30 billion annually.

For more information about Cardiol Therapeutics, please visit cardiolrx.com .

About PRISM MarketView:
Established in 2020, PRISM MarketView is dedicated to the monitoring and analysis of small cap stocks in burgeoning sectors. We deliver up-to-the-minute financial market news, provide comprehensive investor tools and foster a dynamic investor community. Central to our offerings are proprietary indexes that observe emerging sectors, including biotech, clean energy, next-generation tech, medical devices and beyond. Visit us at prismmarketview.com and follow us on Twitter .

PRISM MarketView does not provide investment advice.

Disclaimer
This communication was produced by PRISM MarketView, an affiliate of PCG Advisory Inc., (together ‘PCG’). PCG is not a registered or licensed broker-dealer nor investment adviser. No information contained in this communication constitutes an offer to sell, a solicitation of an offer to buy, or a recommendation of any security. PCG may be compensated by respective clients for publicizing information relating to its client’s securities. See www.pcgadvisory.com/disclosures .

Contact: PRISM MarketView
info@prismmarketview.com
646-863-6341

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d1b5e784-ae3d-4783-a994-4ac06d521bef

Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) (‘Forum’ or the ‘Company’) announced today that the Company is not aware of any undisclosed material information that might be contributing to the recent decline in the Company’s share price.

As announced in its news release dated December 16^th, 2024, the Company is raising $1,250,000 which consists of a combination of shares and flowthrough units. Common shares are being purchased by its strategic investor and insiders for general working capital purposes. The flow-through units are being purchased by its long-term investor and supporter Pavillion Resource Fund for procurement of supplies and services for the 2025 drill program on the Aberdeen Uranium Project in the Thelon Basin, Nunavut (Figure 1).

As announced in previous news releases, assays from its 2024 summer exploration program at its Aberdeen Project in Nunavut, Canada consisting of thirty diamond drill holes covering a total of 6,962 meters are being processed at the SRC Geoanalytical Laboratories in Saskatoon, Saskatchewan which is experiencing an extreme backlog given the increased drilling activity this past year. To date, Forum has received 608 geochemical results from the 11 holes at the Tatiggaq Main and West zones located 5 kilometers from Orano’s Kiggavik deposit. Seven of these 11 holes contained mineralization. (See November 26, 2024 news release for detailed description of drilling highlights).

Assay results from the remaining eight holes along parallel structures in the Tattigaq anomaly are expected in early January. Eleven holes targeting Qavvik, the company’s second discovery, and other high impact targets including Ned, Ayra and Loki are also expected in the new year. After receipt and review of all of the assays from the 2024 drill program, the Company will compile this data in combination with all prior data from the more than 135 drill holes completed by Cameco during its tenure on the property.

Rebecca Hunter, Ph.D., P.Geo., Forum’s Vice President of Exploration and Qualified Person under National Instrument 43-101, has reviewed and approved the contents of this news release.

Figure 1 The Thelon Basin is a geologic analogue to the Athabasca Basin in Saskatchewan. Orano/Denison/UEC’s Kiggavik, End and Andrew Lake uranium deposits host 133 million pounds of uranium grading at 0.54% U3O8* in two proposed open pits and one underground mine. Forum owns 95,519 hectares of prospective ground along the same controlling structures as at Kiggavik.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4908/234440_14940c2014131b6c_003full.jpg

*Source: The Kiggavik deposit is held by Orano (66.2%), Denison (16.9%) and Uranium Energy Corp. (16.9%). Kiggavik mineral resources are 127.3 million pounds Indicated mineral resource grading 0.55% U3O8 and 5.4 million pounds Inferred mineral resource grading 0.33% U3O8 as reported on the Denison Mines Ltd. Corporate Presentation dated November 2024, p. 23 on their website and the Orano 2023 Activities Report converted from tonnes U to pounds U3O8 and from %U to %U3O8. Cut-off grades and other assumptions, parameters and methods used to estimate resources are unknown. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves and the issuer is not treating the historical estimate as current mineral resources or mineral reserves.

About Forum Energy Metals

Forum Energy Metals Corp.(TSXV: FMC) (OTCQB: FDCFF) is focused on the discovery of high-grade unconformity-related uranium deposits in the Athabasca Basin, Saskatchewan and the Thelon Basin, Nunavut. For further information: https://www.forumenergymetals.com.

This press release contains forward-looking statements. Forward-Looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Forward-Looking information is subject to known and unknown risks, uncertainties and other factors that may cause Forum’s actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include but are not limited to: uncertainties related to the historical data, the work expenditure commitments; the ability to raise sufficient capital to fund future exploration or development programs; changes in economic conditions or financial markets; changes commodity prices, litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or an inability to obtain permits required in connection with maintaining or advancing its exploration projects.

ON BEHALF OF THE BOARD OF DIRECTORS

Richard J. Mazur, P.Geo.
President & CEO

Neither the 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/234440

(TheNewswire)

December 19th, 2024 TheNewswire – Vancouver, B.C. Opawica Explorations Inc. (TSXV: OPW) (FSE: A2PEAD) (OTCQB: OPWEF) (the ‘Company’ or ‘Opawica’) a Canadian mineral exploration company focused on precious and base metal projects, is pleased to announce that select members of it exploration personnel has been mobilized to conduct field work at the Bazooka Gold Project (‘Bazooka’) in the Abitibi gold camp in Quebec, Canada.

Specifically, the company has deployed an advanced team, consisting of a Quebec-registered geologist and an assistant to Bazooka. Their mission is to map access routes and finalize drill locations for at least 20 high-priority gold targets previously identified in the area, in preparation for an upcoming drilling campaign. The crew will further scout locations where secondary or alternate drill sites may be considered.

In recognition of the milestone, Blake Morgan, CEO of the Company stated: ‘This is an important step in advancing the Bazooka property as we await final drill permit approval. This preparation will enable us to mobilize quickly, ensuring we are ready to begin drilling as efficiently and quickly as possible once the permits have been granted. With drill permits already approved on the Arrowhead Project the team feel permits are very close regarding the Bazooka Property.’

Opawica’s Bazooka property is adjacent to Yamana Gold’s Wasamac property, which hosts a proven gold resource of 1,767,000 oz. Other major gold mining companies, including Agnico Eagle Mines, are also located within close proximity * . Previous drilling campaigns from 2003 to 2005 found extensive evidence of gold bearing minerals on the property. Gold concentrations reached up to 316.23 grams per tonne over a 1-meter section in Hole #BA-03-02A.

Click Image To View Full Size

The variations in gold content highlight the potential richness of the gold present within the minerals found during these exploration efforts. Opawica intends to drill these promising areas using the latest survey technology .

Mr. Yvan Bussieres, P.Eng., is the qualified person for Opawica Explorations and approves the technical content of this news release. *Mineralization on adjacent Projects are not necessarily indicative of the Mineralization on Bazooka Property

About Opawica Explorations Inc.

Opawica Explorations Inc. is a junior Canadian exploration company with a strong portfolio of precious and base metal properties within the Rouyn-Noranda region of the Abitibi Gold Belt in Québec. The Company’s management has a great track record in discovering and developing successful exploration projects. The Company’s objective is to increase shareholder value through the development of exploration properties using cost effective exploration practices, acquiring further exploration properties, and seeking partnerships by either joint venture or sale with industry leaders.

FOR FURTHER INFORMATION CONTACT:

Blake Morgan

President and Chief Executive Officer

Opawica Explorations Inc.

Telephone: 236-878-4938

www.opawica.com

info@opawica.com

Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in

the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy

of this news release.

Forward-Looking Statements

This news release contains certain forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of the Company’s exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.

Copyright (c) 2024 TheNewswire – All rights reserved.

AgTech Company highlights recent 100% purchase of Hemp Carbon Standard platform to advance industrial hemp carbon credits global market opportunity

Hempalta Corp. (TSXV: HEMP) (‘Hempalta’ or the ‘Company’) has released its financial results for the year ended September 30, 2024. Hempalta’s audited consolidated financial statements (the ‘Financial Statements’) and related management’s discussion and analysis (the ‘MD&A’) for the twelve months ended September 30, 2024 are available on www.sedarplus.ca.

Annual Financial Results

• Revenue for the twelve months ended September 30, 2024 was $539,727, a 24% increase compared to the same period in 2023. The increase resulted from greater production and expanded distribution channels.

• Cost of sales for the twelve months ended September 30, 2024 was $885,204, a 44% increase compared to the same period in 2023. Contributing factors included the costs associated with scaling up operations to handle increased sales, such as higher freight costs, online sales platform fees, production supply costs, maintenance, and repair costs. In addition, there was an approximate $136,000 inventory write-down due to stale and damaged inventory that is in the process of being converted to biochar.

• Net general and administrative expenses for the twelve months ended September 30, 2024 increased 69% compared to the same period in 2023. The increase is primarily due to higher filing and listing fees and accounting and legal costs related to the going public process and the acquisition of a controlling interest in HCS.

• At September 30, 2024, the Company had cash of $726,514 and working capital of $712,072.

Full Ownership of Hemp Carbon Credits Platform

In December 2024, Hempalta acquired the remaining 49.9% interest in HCS, solidifying 100% ownership of the hemp-focused carbon credit platform. Building on the initial acquisition of a 50.1% stake in May 2024, the completed purchase significantly strengthens Hempalta’s commitment to sustainable business practices.

With full operational control of HCS’s proprietary methodologies and verification processes, the Company will work to scale its global sustainability payment program, empowering industrial hemp farmers to capitalize on regenerative cultivation methods. This integration positions Hempalta to deliver premium-quality carbon credits efficiently to corporate buyers, while positioning itself as a boutique hemp carbon credit supplier in the evolving voluntary carbon market.

The demand for carbon credits is increasing as companies seek to reduce their carbon footprint and mitigate climate change. Industrial hemp possesses the capacity to absorb substantial amounts of carbon dioxide (‘CO2‘) during its rapid growth cycle. HCS has been a pioneer in the generation of carbon credits derived from the industrial hemp crop life cycle.

HCS’s precision quantification methodology leverages cutting-edge remote sensing technology, ensuring the accurate measurement of CO2 removal within the biomass of the industrial hemp crop and associated topsoil. This approach guarantees transparency and integrity in carbon accounting and helps corporate buyers of HCS carbon credits to achieve their sustainability goals. By participating in the voluntary carbon market, industrial hemp farmers can diversify their revenue streams and make meaningful contributions to climate change mitigation.

Outlook

Darren Bondar, Hempalta’s President and Chief Executive Officer, said, ‘Our activity the past year has been focused on taking the company public for our investors and determining the best revenue-generating opportunities related to industrial hemp. To that end, we’ve achieved 100% ownership of a global hemp carbon credit platform that enables us to seek out new markets worldwide and participate in the growing carbon credit marketplace. Full ownership means we can now streamline operations, strengthen our technology platform, and provide value to our partners and investors through a low capex, highly scalable platform that enables farmers and corporate buyers to reduce their carbon footprints.’

Investor Updates

Investors can stay updated on Hempalta’s investor announcements by subscribing to our mailing list. Click here to subscribe and join our community as we advance towards a greener future.

About Hempalta

Hempalta Corp. (TSXV: HEMP) is a publicly traded agricultural technology company listed on the TSX Venture Exchange, focused on harnessing the immense potential of hemp.

Hempalta participates in the global hemp carbon credit industry through its 100% ownership of Hemp Carbon Standard Inc. The Company also utilizes advanced agricultural technology to process industrial hemp at scale with resulting products made from hemp grown sustainably in Alberta and processed through a state-of-the-art processing plant at its production facility in Calgary, Alberta.

The Company is led by passionate advocates for industrial hemp who have years of operations, manufacturing, marketing, consumer packaged goods, and retail sales experience. Hempalta has been named a Top 10 Startup by Platform Calgary’s Launch Party and recognized as one of the 50 most investable clean technology companies by Foresight Canada. Learn more at www.hempalta.com.

HEMP TO BETTER THE PLANET

Neither the 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 press release.

Forward-Looking Information

This news release contains statements and information that, to the extent that they are not historical fact, may constitute ‘forward-looking information’ within the meaning of applicable securities legislation. Forward-looking information is typically, but not always, identified by the use of words such as ‘will’, ‘expected’, ‘plans’, ‘enable’ and similar words, including negatives thereof, or other similar expressions concerning matters that are not historical facts. Forward-looking information in this news release includes, but is not limited to, statements regarding: the benefits of the acquisition of the remaining 49.9% interest in HCS; the Company’s plans with respect to the HCS platform, including the scaling of such program; the demand for carbon credits increasing; industrial hemp farmers being able to diversify their revenue streams by participating in the Voluntary Carbon Market; and the Company adding a global hemp carbon credit platform that enables it to seek out new markets worldwide and participate in the growing carbon credit market place. Such forward-looking information is based on various assumptions and factors that may prove to be incorrect, including, but not limited to, factors and assumptions with respect to: the ability of the Company to successfully implement its strategic plans and initiatives and the expected benefits therefrom; the anticipated benefits of the HCS acquisition; the ability of farms and sites currently signed up by HCS to grow hemp; and the ability of HCS to sell carbon removal credits through the Voluntary Credit Market. Although the Company believes that the assumptions and factors on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that it will prove to be correct or that any of the events anticipated by such forward-looking information will transpire or occur, or if any of them do so, what benefits the Company will derive therefrom. Actual results may vary from those currently anticipated due to a number of factors and risks including, but not limited to: the risk that the benefits from the HCS acquisition will not be as anticipated; risks associated with general economic conditions; conditions in the carbon credit markets; adverse industry events; the risk that farms and sites currently signed up by HCS will not grow or be able to grow industrial hemp as anticipated or at all; the risk that HCS may not be able to sell carbon removal credits as anticipated or at all; adverse weather conditions affecting the growth of hemp; future legislative, tax and regulatory developments; and the ability of management to execute its business strategy, objectives and plans. The forward-looking information included in this news release is made as of the date of this news release and the Company does not undertake an obligation to publicly update such forward-looking information to reflect new information, subsequent events or otherwise, except as required by applicable law.

NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER U.S. NEWSWIRES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/234345

HIGHLIGHTS

• BBM trend now extends over 15km, from Awalé’s 100%-owned Fremen target in the south to the Boba and Fett targets in the north.
• Boba and Fett have been defined along strike from BBM, highlighting the fertile and open BBM trend.
• 150 line-km of Induced Polarization (‘IP’) geophysics is planned to cover the entire BBM trend and is scheduled for completion in January.
• An additional up to 7,000 metre drill program will begin in February following the completion of these IP surveys.

Awalé Resources Limited (TSXV: ARIC) (‘Awalé’ or the ‘Company’) is pleased to announce a significant expansion of the BBM gold trend to over 15 kilometres (‘km’). This underscores the potential of the BBM trend, which now extends from the 100%-owned Fremen target in the south to the newly defined Boba and Fett targets in the north. These newly identified targets highlight the potential of this highly prospective region, and with active drilling underway and a large-scale IP geophysical survey planned, the Company is on the path of defining this new district. The upcoming survey aims to refine targets for a 7,000-metre reverse circulation drill campaign, setting the stage for optimized exploration on the BBM trend.

‘The new Boba and Fett targets complement the recently announced Fremen footprint on our 100%-owned Awalé permit – The fertile BBM structure continues to reveal multiple gold-in-soil anomalies, with the trend now extending over 15 kilometres. The upcoming IP survey will help refine drill targets and guide the design of a focused drill program for the new year, with up to 7,000 metres of reverse circulation drilling along this highly prospective structure. We are thrilled to begin drilling on our 100%-owned property, a much-anticipated milestone for Awalé, as we simultaneously continue to progress the BBM and Charger targets,’ commented Andrew Chubb, CEO of Awalé Resources.

View Video of CEO Andrew Chubb’s discussion of these new targets

Figure 1: The 15km-Long BBM Shear – A 15km trend with Fremen to the south, BBM, and the new Boba and Fett targets to the north. See Figure 2 for Inset A.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10016/234447_f34bfc702420da9e_002full.jpg

Figure 2: The Boba and Fett Targets – Gold in soil and termite mound sampling combined.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10016/234447_f34bfc702420da9e_003full.jpg

Detailed soil and termitaria sampling over the Boba and Fett targets defined two > 15 parts per billion (‘ppb’) gold-in-soil anomalies, with high-order core anomalies at > 41ppb gold and peak values of 655 parts per million (‘ppm’) and 1350ppm respectively. Lines are now being cleared for commencement of an IP geophysics survey, which when complete will cover the entirety of the trend from the 100%-owned Fremen target (see October 22, 2024 news release) through to the Boba and Fett targets.

A change in the regolith regime moving northward from BBM has been observed, where outcrop diminishes, and laterite starts to form a thin veneer over the underlying geology. This veneer is variable and is reflected in the tenor of the anomalies. This also results in a smaller number of termite mounds to sample and a significant portion of these anomalies are from soil sampling (Table 1).

Table 1: Summary Statistics for Gold in Geochemistry by Sample Type

About Awalé Resources

Awalé is a diligent and systematic mineral exploration company focused on discovering large high-grade gold and copper-gold deposits. Exploration activities are currently underway in the underexplored regions of Côte d’Ivoire, where the Company is focused on the Odienné Copper-Gold Project (‘Odienné‘ or the ‘Project‘), covering 2,489 km² across seven permits. This includes 796 km² in two permits held under the Awalé-Newmont Joint Venture (‘OJV’). Awalé manages all exploration activities over the OJV, with funding provided by Newmont Joint Ventures Limited (‘Newmont‘) (see May 31, 2022 news release).

Awalé has discovered four gold, gold-copper, and gold-copper-silver-molybdenum discoveries within the OJV and has recently commenced exploration on its 100%-owned properties following an $11.5 million capital raise in April 2024.

The Odienné Project is underexplored and has multiple pipeline prospects with similar geochemical signatures to Iron Oxide Copper Gold (IOCG) and intrusive-related mineral systems with substantial upside potential. The Company benefits from a skilled and well seasoned technical team that allows it to continue exploring in a pro-mining jurisdiction that offers significant potential for district-scale discoveries.

Quality Control and Assurance

Analytical work for geochemistry samples is being carried out at the independent Intertek Laboratories in Ghana and Australia, an ISO 17025 (2017) Certified Laboratory. Samples are prepared and stored at the Company’s field camps and put into sealed bags until collected by Intertek from the Company’s secure Odienné office and transported by Intertek to their preparation laboratory in Yamoussoukro, Côte d’Ivoire, for preparation. Samples are logged in the tracking system, weighed, dried, and pulverized to greater than 85%, passing a 75-micron screen. Two pulps are prepared from each sample with one stream to Intertek Ghana for fire assay and a second to Australia where the sample is analyzed by 52 element ICP/MS with an Aqua Regia digest. Blanks, duplicates, and certified reference material (standards) are being used to monitor laboratory performance during the analysis.

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 Executive 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 over 25 years of experience in international mineral exploration and mining project evaluation.

AWALÉ Resources Limited
On behalf of the Board of Directors

‘Andrew Chubb’
Chief Executive Officer

The Company’s public documents may be accessed at www.sedarplus.com. For further information on the Company, please visit our website at www.awaleresources.com.

Forward-Looking Information

This press release 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, postulate and similar expressions, or are those, which, by their nature, refer to future events. All statements that are not statements of historical fact are forward-looking statements. Forward-looking statements in this press release include but are not limited to statements regarding, the Company’s presence in Côte d’Ivoire and ability to achieve results, creation of value for Company shareholders, achievements under the Newmont JV, works on other properties, planned drilling, commencement of operations. Although the Company believes any forward-looking statements in this press release are reasonable, it can give no assurance that the expectations and assumptions in such statements will prove to be correct. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and other risks involved in the mineral exploration and development industry, including those risks set out in the Company’s management’s discussion and analysis as filed under the Company’s profile at www.sedarplus.ca. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including that all necessary governmental and regulatory approvals will be received as and when expected. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.

Neither the 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/234447

HIGHLIGHTS

• BBM trend now extends over 15km, from Awalé’s 100%-owned Fremen target in the south to the Boba and Fett targets in the north.
• Boba and Fett have been defined along strike from BBM, highlighting the fertile and open BBM trend.
• 150 line-km of Induced Polarization (‘IP’) geophysics is planned to cover the entire BBM trend and is scheduled for completion in January.
• An additional up to 7,000 metre drill program will begin in February following the completion of these IP surveys.

Awalé Resources Limited (TSXV: ARIC) (‘Awalé’ or the ‘Company’) is pleased to announce a significant expansion of the BBM gold trend to over 15 kilometres (‘km’). This underscores the potential of the BBM trend, which now extends from the 100%-owned Fremen target in the south to the newly defined Boba and Fett targets in the north. These newly identified targets highlight the potential of this highly prospective region, and with active drilling underway and a large-scale IP geophysical survey planned, the Company is on the path of defining this new district. The upcoming survey aims to refine targets for a 7,000-metre reverse circulation drill campaign, setting the stage for optimized exploration on the BBM trend.

‘The new Boba and Fett targets complement the recently announced Fremen footprint on our 100%-owned Awalé permit – The fertile BBM structure continues to reveal multiple gold-in-soil anomalies, with the trend now extending over 15 kilometres. The upcoming IP survey will help refine drill targets and guide the design of a focused drill program for the new year, with up to 7,000 metres of reverse circulation drilling along this highly prospective structure. We are thrilled to begin drilling on our 100%-owned property, a much-anticipated milestone for Awalé, as we simultaneously continue to progress the BBM and Charger targets,’ commented Andrew Chubb, CEO of Awalé Resources.

View Video of CEO Andrew Chubb’s discussion of these new targets

Figure 1: The 15km-Long BBM Shear – A 15km trend with Fremen to the south, BBM, and the new Boba and Fett targets to the north. See Figure 2 for Inset A.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10016/234447_f34bfc702420da9e_002full.jpg

Figure 2: The Boba and Fett Targets – Gold in soil and termite mound sampling combined.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10016/234447_f34bfc702420da9e_003full.jpg

Detailed soil and termitaria sampling over the Boba and Fett targets defined two > 15 parts per billion (‘ppb’) gold-in-soil anomalies, with high-order core anomalies at > 41ppb gold and peak values of 655 parts per million (‘ppm’) and 1350ppm respectively. Lines are now being cleared for commencement of an IP geophysics survey, which when complete will cover the entirety of the trend from the 100%-owned Fremen target (see October 22, 2024 news release) through to the Boba and Fett targets.

A change in the regolith regime moving northward from BBM has been observed, where outcrop diminishes, and laterite starts to form a thin veneer over the underlying geology. This veneer is variable and is reflected in the tenor of the anomalies. This also results in a smaller number of termite mounds to sample and a significant portion of these anomalies are from soil sampling (Table 1).

Table 1: Summary Statistics for Gold in Geochemistry by Sample Type

About Awalé Resources

Awalé is a diligent and systematic mineral exploration company focused on discovering large high-grade gold and copper-gold deposits. Exploration activities are currently underway in the underexplored regions of Côte d’Ivoire, where the Company is focused on the Odienné Copper-Gold Project (‘Odienné‘ or the ‘Project‘), covering 2,489 km² across seven permits. This includes 796 km² in two permits held under the Awalé-Newmont Joint Venture (‘OJV’). Awalé manages all exploration activities over the OJV, with funding provided by Newmont Joint Ventures Limited (‘Newmont‘) (see May 31, 2022 news release).

Awalé has discovered four gold, gold-copper, and gold-copper-silver-molybdenum discoveries within the OJV and has recently commenced exploration on its 100%-owned properties following an $11.5 million capital raise in April 2024.

The Odienné Project is underexplored and has multiple pipeline prospects with similar geochemical signatures to Iron Oxide Copper Gold (IOCG) and intrusive-related mineral systems with substantial upside potential. The Company benefits from a skilled and well seasoned technical team that allows it to continue exploring in a pro-mining jurisdiction that offers significant potential for district-scale discoveries.

Quality Control and Assurance

Analytical work for geochemistry samples is being carried out at the independent Intertek Laboratories in Ghana and Australia, an ISO 17025 (2017) Certified Laboratory. Samples are prepared and stored at the Company’s field camps and put into sealed bags until collected by Intertek from the Company’s secure Odienné office and transported by Intertek to their preparation laboratory in Yamoussoukro, Côte d’Ivoire, for preparation. Samples are logged in the tracking system, weighed, dried, and pulverized to greater than 85%, passing a 75-micron screen. Two pulps are prepared from each sample with one stream to Intertek Ghana for fire assay and a second to Australia where the sample is analyzed by 52 element ICP/MS with an Aqua Regia digest. Blanks, duplicates, and certified reference material (standards) are being used to monitor laboratory performance during the analysis.

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 Executive 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 over 25 years of experience in international mineral exploration and mining project evaluation.

AWALÉ Resources Limited
On behalf of the Board of Directors

‘Andrew Chubb’
Chief Executive Officer

The Company’s public documents may be accessed at www.sedarplus.com. For further information on the Company, please visit our website at www.awaleresources.com.

Forward-Looking Information

This press release 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, postulate and similar expressions, or are those, which, by their nature, refer to future events. All statements that are not statements of historical fact are forward-looking statements. Forward-looking statements in this press release include but are not limited to statements regarding, the Company’s presence in Côte d’Ivoire and ability to achieve results, creation of value for Company shareholders, achievements under the Newmont JV, works on other properties, planned drilling, commencement of operations. Although the Company believes any forward-looking statements in this press release are reasonable, it can give no assurance that the expectations and assumptions in such statements will prove to be correct. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and other risks involved in the mineral exploration and development industry, including those risks set out in the Company’s management’s discussion and analysis as filed under the Company’s profile at www.sedarplus.ca. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including that all necessary governmental and regulatory approvals will be received as and when expected. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.

Neither the 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/234447