For Colossal Gold's Northwest Goliath Project in Suriname

VANCOUVER, BC , Dec. 15, 2022 /CNW/ - Awalé Resources Limited (" Awalé ") or the " Company ") (TSXV: ARIC) is pleased to announce the Company has filed a technical report (the " Report ") regarding the Northwest Goliath Project in Suriname. This prospective gold project, along trend from the Rosebel Mine in Suriname, forms part of the acquisition of Colossal Gold Resources Limited (" Colossal ") by Awalé (the " Acquisition ") pursuant to a letter agreement dated September 12, 2022 between Awalé, Colossal and the shareholders of Colossal. The Report was prepared pursuant to the policies of the TSX Venture Exchange (" TSXV ") and in accordance with National Instrument 43-101 – Standards for Disclosure for Mineral Projects.

The Acquisition is conditional on, among other matters, the Company satisfying the requirements outlined in the TSXV's conditional acceptance letter in compliance with TSXV Policy 5.3 which the Company is in the process of completing (refer news release date October 11, 2022 ).

A copy of the Report is available for review on both SEDAR ( www.sedar.com ) and on the Company's website at www.awaleresources.com .

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