AwalT Resources Limited provided the following update on the recently-completed scout drilling at the Sceptre East and Charger Targets, OdiennT Project, C(te d'Ivoire. A total of nine holes for 1,292.2m were completed over initial geophysical and geochemical targets, with seven holes having intersected significant alteration and sulfide mineralization. Assays are pending.

An initial seven hole for 1,092.2m drill program at Sceptre East has confirmed silica-sericite alteration and sulfide mineralization associated with a highly-fractured and deformed porphyritic intrusive. This intrusive phase has been intersected over approximately 1km in strike and remains open to both the east and west of the current drilling. Sulfide mineralization in four of the seven holes at Sceptre East consist of quartz-veinlet-hosted chalcopyrite and molybdenite as well as disseminations within a broader fracture envelope.

At this early stage the observed alteration and sulfide assemblage is interpreted to be part of a larger intrusive related mineralized system at Sceptre. A further two holes for 200m were completed at Charger and successfully intersected polymetallic sulfide mineralization within an intrusive host which lies beneath previously reported gossan material and new artisanal workings. Follow-up ground geophysics and drilling is planned for Q1, 2023, at both Sceptre East and Charger, in addition to at the adjacent 5km-long Sceptre Main soil copper-gold ("Cu-Au") anomaly which remains untested as yet through drilling.

total of seven holes for 1,092.2m were drilled at Sceptre East in order to gain an initial understanding of the geology of approximately 1 km strike of the previously-reported 2km long ground geophysical (Induced Polarization, or "IP") and surface soil Cu-Au anomaly November 1, 2022). Four of the seven holes drilled display encouraging silica-sericite alteration associated with pyrite ¦ chalcopyrite + molybdenite sulfide mineralization, with the three other holes displaying significant potassic alteration (biotite and potassium feldspar) and are interpreted by the Company to be part of a wider alteration zonation within the large Sceptre mineralized system. Mineralization is associated with chalcopyrite and molybdenite bearing silica veins as well as disseminations within a wider fracture network.

Drillhole OERD125 was targeted on a high-order IP chargeability anomaly and intersected sulfide mineralization in two main downhole zones; From surface, extensive pyrite-molybdenite-chalcopyrite mineralization is hosted within a sheared and fractured porphyritic intrusive, and Subsequently pyroclastic and porphyritic intrusive-hosted sulfide (pyrite ¦ chalcopyrite) mineralization, with total sulfide content locally reaching 20%. This high sulfide content is the interpreted contributor to this high order chargeability anomaly. Holes OERC0128-130 were drilled along a section located 500m to the east of OERD125 .

All three holes intersected extensive sulfide mineralization (quartz veinlet-hosted and disseminated chalcopyrite + molybdenite) and alteration within a fractured porphyritic intrusive. This mineralization /alteration system remains open in all directions. At this locality, potassic alteration with hematite similar to the Charger alteration system has also been observed within and proximal to the mineralized zones.