# Awal&\#xE9; Announces Inferred Mineral Resource Estimate of 1.71 Moz Gold Equivalent for the Odienn&\#xE9; Project, 32.4 Mt at 1.64 g/t Gold Equivalent \(1.33 g/t Gold, 0.33% Copper\)

Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/awal-xe9-announces-inferred-mineral-resource-estimate-of-1-71-moz-gold-equivalen--db474bb6-2b3d-4e3f-acb9-ba7435a42240

Original source: https://money.tmx.com/en/quote/ARIC/news/5845377774260338/awal-xe9-announces-inferred-mineral-resource-estimate-of-1-71-moz-gold-equivalen

Publisher: tmx

Original announcement: 2026-05-19T11:00:00.000Z

Analysis by Minestarters Atlas

Atlas analysis published: Unknown date

Atlas analysis updated: Unknown date

- Company: Awalé Resources Limited

- Ticker: ARIC

- Exchange: TSX

- Region: Côte d'Ivoire

- Primary commodity: Gold

- Secondary commodities: Copper

- Document categories: Resource update

- Extracted: 2026-09-17 10:55:10 UTC

Narrative sentiment: 0.80 · Bullish

## Minestarters Atlas summary

Awalé Resources announced an initial Inferred Mineral Resource Estimate for its Odienné Project in Côte d'Ivoire, totaling 32.4 Mt at 1.64 g/t gold equivalent for 1.71 Moz AuEq. The estimate, which includes 1.39 Moz gold and 93,000 tonnes copper, was prepared in accordance with NI 43-101 standards and signed off by a Qualified Person. The company plans to advance the project with a Preliminary Economic Assessment in Q3 2026 and a Pre-Feasibility Study in Q4 2027.

Reasoning: Awalé Resources announced a substantial initial Inferred Mineral Resource Estimate for its Odienné Project, establishing significant gold-copper potential and outlining plans for future economic studies and resource growth.

- Positive factor: Maiden resource estimate

- Positive factor: NI 43-101 compliant

- Positive factor: QP signed off

- Positive factor: Significant gold-copper potential

- Positive factor: Plans for future economic studies \(PEA, PFS\)

- Negative factor: All inferred resource category

Low confidence — this extraction should be reviewed alongside the original source.

Facts used in scoring: 17

## Classification and evidence

**Maiden Resource**

Polarity: neutral

Definition: First formal MRE for the project — establishes baseline but typically exploration-stage with high Inferred component. No prior estimate exists, so every change band is not applicable.

Why it applies: The document explicitly states this is an 'initial Mineral Resource Estimate' for the project.

Evidence · text

> Awalé is pleased to announce an initial Mineral Resource Estimate \("MRE"\) for the Odienné Project

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: The resource estimate was prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101.

Evidence · text

> prepared under the supervision of Mr. Galen White, BSc \(Hons\), FAusIMM, FGS, Principal Consultant - Bara Consulting Limited, in accordance with Canadian regulatory requirements set out in National Instrument 43-101 Standards of Disclosure for Mineral Projects \("NI43-101"\).

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: Mr. Galen White, a Qualified Person, supervised the preparation of the mineral resource estimate.

Evidence · text

> Mr. White is a Qualified Person \("QP"\) as defined under NI 43-101. Mr White has 29 years of experience in the global mining industry. Mr White is independent of the Company.

**All Inferred**

Polarity: negative

Definition: M&I share below the weak bound — very early stage, no engineering confidence.

Why it applies: All reported resource categories in the estimate are classified as Inferred.

Evidence · table

> Inferred

Context: BBM

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: A current resource fact retains the disclosed cut-off grade

## Extracted facts

Stored fact records: 17. Some facts used in scoring do not have a stored record.

## Resource Estimates (17)

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/awal-xe9-announces-inferred-mineral-resource-estimate-of-1-71-moz-gold-equivalen--db474bb6-2b3d-4e3f-acb9-ba7435a42240#fact-resource-facts-0)

Odienné Project · gold

#### Identity

- Project: Odienné Project
- Commodity: gold
- Region: côte d'ivoire
- Reported Region: Côte d'Ivoire
- Ticker: ARIC

#### Resource scope

- Estimate type: resource
- Effective date: 2026-04-01T00:00:00.000Z
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Galen White
- Resource group id: resource:d5198194b2f8100d4083
- Deposit or zone: BBM
- Mining method: open\_pit
- Ownership percent: 100 %

#### Resource Data

- Category: inferred
- Tonnes: 21500000
- Grade: 1.03
- Grade Unit: g/t
- Contained Metal: 714000
- Contained Unit: oz
- Cutoff Grade: 0.32
- Cutoff Unit: g/t AuEq.

#### Prior Estimate

- Resource Date: 2026-04-01

#### Metal Equivalent

- Metal Eq. Grade: 1.37
- Metal Eq. Unit: g/t AuEq.
- Assumptions Disclosed: Yes

#### Lab

- Laboratory: Intertek Laboratories and ALS Laboratories

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-19T00:00:00.000Z

Reasoning: Initial Inferred Mineral Resource Estimate for the BBM deposit \(Open Pit\) at the Odienné Project.

- Positive factor: Maiden resource estimate

- Positive factor: NI 43-101 compliant

- Positive factor: QP signed off

- Positive factor: Significant gold-copper potential

- Negative factor: All inferred resource category

Evidence · table

> 1.03

Context: 21.5

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/awal-xe9-announces-inferred-mineral-resource-estimate-of-1-71-moz-gold-equivalen--db474bb6-2b3d-4e3f-acb9-ba7435a42240#fact-resource-facts-1)

Odienné Project · copper

#### Identity

- Project: Odienné Project
- Commodity: copper
- Region: côte d'ivoire
- Reported Region: Côte d'Ivoire
- Ticker: ARIC

#### Resource scope

- Estimate type: resource
- Effective date: 2026-04-01T00:00:00.000Z
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Galen White
- Resource group id: resource:d5198194b2f8100d4083
- Deposit or zone: BBM
- Mining method: open\_pit
- Ownership percent: 100 %

#### Resource Data

- Category: inferred
- Tonnes: 21500000
- Grade: 0.32
- Grade Unit: %
- Contained Metal: 68000
- Contained Unit: t
- Cutoff Grade: 0.32
- Cutoff Unit: g/t AuEq.

#### Prior Estimate

- Resource Date: 2026-04-01

#### Metal Equivalent

- Assumptions Disclosed: Yes

#### Lab

- Laboratory: Intertek Laboratories and ALS Laboratories

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-19T00:00:00.000Z

Reasoning: Initial Inferred Mineral Resource Estimate for the BBM deposit \(Open Pit\) at the Odienné Project, including copper grades.

- Positive factor: Maiden resource estimate

- Positive factor: NI 43-101 compliant

- Positive factor: QP signed off

- Positive factor: Significant gold-copper potential

- Negative factor: All inferred resource category

Evidence · table

> 0.32

Context: 21.5

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/awal-xe9-announces-inferred-mineral-resource-estimate-of-1-71-moz-gold-equivalen--db474bb6-2b3d-4e3f-acb9-ba7435a42240#fact-resource-facts-2)

Odienné Project · gold

#### Identity

- Project: Odienné Project
- Commodity: gold
- Region: côte d'ivoire
- Reported Region: Côte d'Ivoire
- Ticker: ARIC

#### Resource scope

- Estimate type: resource
- Effective date: 2026-04-01T00:00:00.000Z
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Galen White
- Resource group id: resource:f23c73efc4a867dc73ba
- Deposit or zone: BBM
- Mining method: underground
- Ownership percent: 100 %

#### Resource Data

- Category: inferred
- Tonnes: 6300000
- Grade: 1.6
- Grade Unit: g/t
- Contained Metal: 325000
- Contained Unit: oz
- Cutoff Grade: 1.34
- Cutoff Unit: g/t AuEq.

#### Prior Estimate

- Resource Date: 2026-04-01

#### Metal Equivalent

- Metal Eq. Grade: 2.01
- Metal Eq. Unit: g/t AuEq.
- Assumptions Disclosed: Yes

#### Lab

- Laboratory: Intertek Laboratories and ALS Laboratories

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-19T00:00:00.000Z

Reasoning: Initial Inferred Mineral Resource Estimate for the BBM deposit \(Underground\) at the Odienné Project.

- Positive factor: Maiden resource estimate

- Positive factor: NI 43-101 compliant

- Positive factor: QP signed off

- Positive factor: Significant gold-copper potential

- Negative factor: All inferred resource category

Evidence · table

> 1.60

Context: 6.3

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/awal-xe9-announces-inferred-mineral-resource-estimate-of-1-71-moz-gold-equivalen--db474bb6-2b3d-4e3f-acb9-ba7435a42240#fact-resource-facts-3)

Odienné Project · copper

#### Identity

- Project: Odienné Project
- Commodity: copper
- Region: côte d'ivoire
- Reported Region: Côte d'Ivoire
- Ticker: ARIC

#### Resource scope

- Estimate type: resource
- Effective date: 2026-04-01T00:00:00.000Z
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Galen White
- Resource group id: resource:f23c73efc4a867dc73ba
- Deposit or zone: BBM
- Mining method: underground
- Ownership percent: 100 %

#### Resource Data

- Category: inferred
- Tonnes: 6300000
- Grade: 0.39
- Grade Unit: %
- Contained Metal: 25000
- Contained Unit: t
- Cutoff Grade: 1.34
- Cutoff Unit: g/t AuEq.

#### Prior Estimate

- Resource Date: 2026-04-01

#### Metal Equivalent

- Assumptions Disclosed: Yes

#### Lab

- Laboratory: Intertek Laboratories and ALS Laboratories

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-19T00:00:00.000Z

Reasoning: Initial Inferred Mineral Resource Estimate for the BBM deposit \(Underground\) at the Odienné Project, including copper grades.

- Positive factor: Maiden resource estimate

- Positive factor: NI 43-101 compliant

- Positive factor: QP signed off

- Positive factor: Significant gold-copper potential

- Negative factor: All inferred resource category

Evidence · table

> 0.39

Context: 6.3

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/awal-xe9-announces-inferred-mineral-resource-estimate-of-1-71-moz-gold-equivalen--db474bb6-2b3d-4e3f-acb9-ba7435a42240#fact-resource-facts-4)

Odienné Project · gold

#### Identity

- Project: Odienné Project
- Commodity: gold
- Region: côte d'ivoire
- Reported Region: Côte d'Ivoire
- Ticker: ARIC

#### Resource scope

- Estimate type: resource
- Effective date: 2026-04-01T00:00:00.000Z
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Galen White
- Resource group id: resource:ab52ec605d49e36ae4ff
- Deposit or zone: BBM
- Mining method: combined
- Ownership percent: 100 %

#### Resource Data

- Category: inferred
- Tonnes: 27800000
- Grade: 1.16
- Grade Unit: g/t
- Contained Metal: 1039000
- Contained Unit: oz

#### Prior Estimate

- Resource Date: 2026-04-01

#### Metal Equivalent

- Metal Eq. Grade: 1.52
- Metal Eq. Unit: g/t AuEq.
- Assumptions Disclosed: Yes

#### Lab

- Laboratory: Intertek Laboratories and ALS Laboratories

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-19T00:00:00.000Z

Reasoning: Initial Inferred Mineral Resource Estimate for the combined BBM deposit at the Odienné Project.

- Positive factor: Maiden resource estimate

- Positive factor: NI 43-101 compliant

- Positive factor: QP signed off

- Positive factor: Significant gold-copper potential

- Negative factor: All inferred resource category

Evidence · table

> 1.16

Context: 27.8

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/awal-xe9-announces-inferred-mineral-resource-estimate-of-1-71-moz-gold-equivalen--db474bb6-2b3d-4e3f-acb9-ba7435a42240#fact-resource-facts-5)

Odienné Project · copper

#### Identity

- Project: Odienné Project
- Commodity: copper
- Region: côte d'ivoire
- Reported Region: Côte d'Ivoire
- Ticker: ARIC

#### Resource scope

- Estimate type: resource
- Effective date: 2026-04-01T00:00:00.000Z
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Galen White
- Resource group id: resource:ab52ec605d49e36ae4ff
- Deposit or zone: BBM
- Mining method: combined
- Ownership percent: 100 %

#### Resource Data

- Category: inferred
- Tonnes: 27800000
- Grade: 0.33
- Grade Unit: %
- Contained Metal: 93000
- Contained Unit: t

#### Prior Estimate

- Resource Date: 2026-04-01

#### Metal Equivalent

- Assumptions Disclosed: Yes

#### Lab

- Laboratory: Intertek Laboratories and ALS Laboratories

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-19T00:00:00.000Z

Reasoning: Initial Inferred Mineral Resource Estimate for the combined BBM deposit at the Odienné Project, including copper grades.

- Positive factor: Maiden resource estimate

- Positive factor: NI 43-101 compliant

- Positive factor: QP signed off

- Positive factor: Significant gold-copper potential

- Negative factor: All inferred resource category

Evidence · table

> 0.33

Context: 27.8

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/awal-xe9-announces-inferred-mineral-resource-estimate-of-1-71-moz-gold-equivalen--db474bb6-2b3d-4e3f-acb9-ba7435a42240#fact-resource-facts-6)

Odienné Project · gold

#### Identity

- Project: Odienné Project
- Commodity: gold
- Region: côte d'ivoire
- Reported Region: Côte d'Ivoire
- Ticker: ARIC

#### Resource scope

- Estimate type: resource
- Effective date: 2026-04-01T00:00:00.000Z
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Galen White
- Resource group id: resource:8381fd30372d82ad2002
- Deposit or zone: Charger
- Mining method: underground
- Ownership percent: 100 %

#### Resource Data

- Category: inferred
- Tonnes: 1600000
- Grade: 4.62
- Grade Unit: g/t
- Contained Metal: 231000
- Contained Unit: oz
- Cutoff Grade: 1.28
- Cutoff Unit: g/t AuEq.

#### Prior Estimate

- Resource Date: 2026-04-01

#### Metal Equivalent

- Metal Eq. Grade: 4.64
- Metal Eq. Unit: g/t AuEq.
- Assumptions Disclosed: Yes

#### Lab

- Laboratory: Intertek Laboratories and ALS Laboratories

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-19T00:00:00.000Z

Reasoning: Initial Inferred Mineral Resource Estimate for the Charger deposit \(Underground\) at the Odienné Project.

- Positive factor: Maiden resource estimate

- Positive factor: NI 43-101 compliant

- Positive factor: QP signed off

- Positive factor: Significant gold-copper potential

- Negative factor: All inferred resource category

Evidence · table

> 4.62

Context: 1.6

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/awal-xe9-announces-inferred-mineral-resource-estimate-of-1-71-moz-gold-equivalen--db474bb6-2b3d-4e3f-acb9-ba7435a42240#fact-resource-facts-7)

Odienné Project · copper

#### Identity

- Project: Odienné Project
- Commodity: copper
- Region: côte d'ivoire
- Reported Region: Côte d'Ivoire
- Ticker: ARIC

#### Resource scope

- Estimate type: resource
- Effective date: 2026-04-01T00:00:00.000Z
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Galen White
- Resource group id: resource:8381fd30372d82ad2002
- Deposit or zone: Charger
- Mining method: underground
- Ownership percent: 100 %

#### Resource Data

- Category: inferred
- Tonnes: 1600000
- Grade: 0.02
- Grade Unit: %
- Contained Metal: 380
- Contained Unit: t
- Cutoff Grade: 1.28
- Cutoff Unit: g/t AuEq.

#### Prior Estimate

- Resource Date: 2026-04-01

#### Metal Equivalent

- Assumptions Disclosed: Yes

#### Lab

- Laboratory: Intertek Laboratories and ALS Laboratories

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-19T00:00:00.000Z

Reasoning: Initial Inferred Mineral Resource Estimate for the Charger deposit \(Underground\) at the Odienné Project, including copper grades.

- Positive factor: Maiden resource estimate

- Positive factor: NI 43-101 compliant

- Positive factor: QP signed off

- Positive factor: Significant gold-copper potential

- Negative factor: All inferred resource category

Evidence · table

> 0.02

Context: 1.6

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/awal-xe9-announces-inferred-mineral-resource-estimate-of-1-71-moz-gold-equivalen--db474bb6-2b3d-4e3f-acb9-ba7435a42240#fact-resource-facts-8)

Odienné Project · gold

#### Identity

- Project: Odienné Project
- Commodity: gold
- Region: côte d'ivoire
- Reported Region: Côte d'Ivoire
- Ticker: ARIC

#### Resource scope

- Estimate type: resource
- Effective date: 2026-04-01T00:00:00.000Z
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Galen White
- Resource group id: resource:96b79b960a697263e745
- Deposit or zone: Empire
- Mining method: open\_pit
- Ownership percent: 100 %

#### Resource Data

- Category: inferred
- Tonnes: 3000000
- Grade: 1.23
- Grade Unit: g/t
- Contained Metal: 119000
- Contained Unit: oz
- Cutoff Grade: 0.32
- Cutoff Unit: g/t Au

#### Prior Estimate

- Resource Date: 2026-04-01

#### Metal Equivalent

- Metal Eq. Grade: 1.23
- Metal Eq. Unit: g/t AuEq.
- Assumptions Disclosed: Yes

#### Lab

- Laboratory: Intertek Laboratories and ALS Laboratories

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-19T00:00:00.000Z

Reasoning: Initial Inferred Mineral Resource Estimate for the Empire deposit \(Open Pit\) at the Odienné Project.

- Positive factor: Maiden resource estimate

- Positive factor: NI 43-101 compliant

- Positive factor: QP signed off

- Positive factor: Significant gold-copper potential

- Negative factor: All inferred resource category

Evidence · table

> 1.23

Context: 3.0

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/awal-xe9-announces-inferred-mineral-resource-estimate-of-1-71-moz-gold-equivalen--db474bb6-2b3d-4e3f-acb9-ba7435a42240#fact-resource-facts-9)

Odienné Project · copper

#### Identity

- Project: Odienné Project
- Commodity: copper
- Region: côte d'ivoire
- Reported Region: Côte d'Ivoire
- Ticker: ARIC

#### Resource scope

- Estimate type: resource
- Effective date: 2026-04-01T00:00:00.000Z
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Galen White
- Resource group id: resource:96b79b960a697263e745
- Deposit or zone: Empire
- Mining method: open\_pit
- Ownership percent: 100 %

#### Resource Data

- Category: inferred
- Tonnes: 3000000
- Grade Unit: %
- Cutoff Grade: 0.32
- Cutoff Unit: g/t Au

#### Prior Estimate

- Resource Date: 2026-04-01

#### Metal Equivalent

- Assumptions Disclosed: Yes

#### Lab

- Laboratory: Intertek Laboratories and ALS Laboratories

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-19T00:00:00.000Z

Reasoning: Initial Inferred Mineral Resource Estimate for the Empire deposit \(Open Pit\) at the Odienné Project, with no copper grades reported.

- Positive factor: Maiden resource estimate

- Positive factor: NI 43-101 compliant

- Positive factor: QP signed off

- Positive factor: Significant gold-copper potential

- Negative factor: All inferred resource category

- Negative factor: No copper grade reported for this deposit

Evidence · table

> -

Context: 3.0

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

**No Contained Metal**

Polarity: negative

Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained\_metal was not reported

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/awal-xe9-announces-inferred-mineral-resource-estimate-of-1-71-moz-gold-equivalen--db474bb6-2b3d-4e3f-acb9-ba7435a42240#fact-resource-facts-10)

Odienné Project · gold

#### Identity

- Project: Odienné Project
- Commodity: gold
- Region: côte d'ivoire
- Reported Region: Côte d'Ivoire
- Ticker: ARIC

#### Resource scope

- Estimate type: resource
- Effective date: 2026-04-01T00:00:00.000Z
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Galen White
- Resource group id: resource:8cd8d93122ea311e9cb0
- Deposit or zone: Global Total
- Mining method: combined
- Ownership percent: 100 %

#### Resource Data

- Category: inferred
- Tonnes: 32400000
- Grade: 1.33
- Grade Unit: g/t
- Contained Metal: 1389000
- Contained Unit: oz

#### Prior Estimate

- Resource Date: 2026-04-01

#### Metal Equivalent

- Metal Eq. Grade: 1.64
- Metal Eq. Unit: g/t AuEq.
- Assumptions Disclosed: Yes

#### Lab

- Laboratory: Intertek Laboratories and ALS Laboratories

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-19T00:00:00.000Z

Reasoning: Initial Inferred Mineral Resource Estimate for the entire Odienné Project, representing the global total.

- Positive factor: Maiden resource estimate

- Positive factor: NI 43-101 compliant

- Positive factor: QP signed off

- Positive factor: Significant gold-copper potential

- Negative factor: All inferred resource category

Evidence · table

> 1.33

Context: 32.4

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/awal-xe9-announces-inferred-mineral-resource-estimate-of-1-71-moz-gold-equivalen--db474bb6-2b3d-4e3f-acb9-ba7435a42240#fact-resource-facts-11)

Odienné Project · copper

#### Identity

- Project: Odienné Project
- Commodity: copper
- Region: côte d'ivoire
- Reported Region: Côte d'Ivoire
- Ticker: ARIC

#### Resource scope

- Estimate type: resource
- Effective date: 2026-04-01T00:00:00.000Z
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Galen White
- Resource group id: resource:8cd8d93122ea311e9cb0
- Deposit or zone: Global Total
- Mining method: combined
- Ownership percent: 100 %

#### Resource Data

- Category: inferred
- Tonnes: 32400000
- Grade: 0.33
- Grade Unit: %
- Contained Metal: 93000
- Contained Unit: t

#### Prior Estimate

- Resource Date: 2026-04-01

#### Metal Equivalent

- Assumptions Disclosed: Yes

#### Lab

- Laboratory: Intertek Laboratories and ALS Laboratories

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-19T00:00:00.000Z

Reasoning: Initial Inferred Mineral Resource Estimate for the entire Odienné Project, representing the global total, including copper grades.

- Positive factor: Maiden resource estimate

- Positive factor: NI 43-101 compliant

- Positive factor: QP signed off

- Positive factor: Significant gold-copper potential

- Negative factor: All inferred resource category

Evidence · table

> 0.33

Context: 32.4

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/awal-xe9-announces-inferred-mineral-resource-estimate-of-1-71-moz-gold-equivalen--db474bb6-2b3d-4e3f-acb9-ba7435a42240#fact-resource-facts-12)

NI 43-101 Mineral Resource Estimate by · copper

#### Identity

- Project: NI 43-101 Mineral Resource Estimate by
- Commodity: copper
- Ticker: ARIC

#### Resource scope

- Estimate type: resource
- Effective date: 2026-04-01T00:00:00.000Z
- Reporting standards: ni\_43\_101
- Resource group id: resource:8f43a7b88fb0fd4829bb
- Mining method: combined
- Ownership percent: 100 %

#### Resource Data

- Category: inferred
- Tonnes: 21500000
- Grade: 68000
- Grade Unit: tonnes

#### Metal Equivalent

- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-19T00:00:00.000Z

Reasoning: Expanded from multi-commodity resource table for completeness.

- Negative factor: Fact expanded from resource table columns \(model omitted this commodity\).

Evidence · table

> 68,000

Context: 21.5

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

**No Contained Metal**

Polarity: negative

Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained\_metal was not reported

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/awal-xe9-announces-inferred-mineral-resource-estimate-of-1-71-moz-gold-equivalen--db474bb6-2b3d-4e3f-acb9-ba7435a42240#fact-resource-facts-13)

NI 43-101 Mineral Resource Estimate by · copper

#### Identity

- Project: NI 43-101 Mineral Resource Estimate by
- Commodity: copper
- Ticker: ARIC

#### Resource scope

- Estimate type: resource
- Effective date: 2026-04-01T00:00:00.000Z
- Reporting standards: ni\_43\_101
- Resource group id: resource:c316b58352aecb9199a3
- Mining method: combined
- Ownership percent: 100 %

#### Resource Data

- Category: inferred
- Tonnes: 6300000
- Grade: 25000
- Grade Unit: tonnes

#### Metal Equivalent

- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-19T00:00:00.000Z

Reasoning: Expanded from multi-commodity resource table for completeness.

- Negative factor: Fact expanded from resource table columns \(model omitted this commodity\).

Evidence · table

> 25,000

Context: 6.3

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

**No Contained Metal**

Polarity: negative

Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained\_metal was not reported

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/awal-xe9-announces-inferred-mineral-resource-estimate-of-1-71-moz-gold-equivalen--db474bb6-2b3d-4e3f-acb9-ba7435a42240#fact-resource-facts-14)

NI 43-101 Mineral Resource Estimate by · copper

#### Identity

- Project: NI 43-101 Mineral Resource Estimate by
- Commodity: copper
- Ticker: ARIC

#### Resource scope

- Estimate type: resource
- Effective date: 2026-04-01T00:00:00.000Z
- Reporting standards: ni\_43\_101
- Resource group id: resource:f10aa29c23d79bc8731d
- Mining method: combined
- Ownership percent: 100 %

#### Resource Data

- Category: inferred
- Tonnes: 27800000
- Grade: 93000
- Grade Unit: tonnes

#### Metal Equivalent

- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-19T00:00:00.000Z

Reasoning: Expanded from multi-commodity resource table for completeness.

- Negative factor: Fact expanded from resource table columns \(model omitted this commodity\).

Evidence · table

> 93,000

Context: 27.8

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

**No Contained Metal**

Polarity: negative

Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained\_metal was not reported

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/awal-xe9-announces-inferred-mineral-resource-estimate-of-1-71-moz-gold-equivalen--db474bb6-2b3d-4e3f-acb9-ba7435a42240#fact-resource-facts-15)

NI 43-101 Mineral Resource Estimate by · copper

#### Identity

- Project: NI 43-101 Mineral Resource Estimate by
- Commodity: copper
- Ticker: ARIC

#### Resource scope

- Estimate type: resource
- Effective date: 2026-04-01T00:00:00.000Z
- Reporting standards: ni\_43\_101
- Resource group id: resource:f7c131b1f6583a6d0ebb
- Mining method: combined
- Ownership percent: 100 %

#### Resource Data

- Category: inferred
- Tonnes: 1600000
- Grade: 380
- Grade Unit: tonnes

#### Metal Equivalent

- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-19T00:00:00.000Z

Reasoning: Expanded from multi-commodity resource table for completeness.

- Negative factor: Fact expanded from resource table columns \(model omitted this commodity\).

Evidence · table

> 380

Context: 1.6

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

**No Contained Metal**

Polarity: negative

Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained\_metal was not reported

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/awal-xe9-announces-inferred-mineral-resource-estimate-of-1-71-moz-gold-equivalen--db474bb6-2b3d-4e3f-acb9-ba7435a42240#fact-resource-facts-16)

NI 43-101 Mineral Resource Estimate by · copper

#### Identity

- Project: NI 43-101 Mineral Resource Estimate by
- Commodity: copper
- Ticker: ARIC

#### Resource scope

- Estimate type: resource
- Effective date: 2026-04-01T00:00:00.000Z
- Reporting standards: ni\_43\_101
- Resource group id: resource:227ae7ac9efe21073af5
- Mining method: combined
- Ownership percent: 100 %

#### Resource Data

- Category: inferred
- Tonnes: 32400000
- Grade: 93000
- Grade Unit: tonnes

#### Metal Equivalent

- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-05-19T00:00:00.000Z

Reasoning: Expanded from multi-commodity resource table for completeness.

- Negative factor: Fact expanded from resource table columns \(model omitted this commodity\).

Evidence · table

> 93,000

Context: 32.4

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

**No Contained Metal**

Polarity: negative

Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained\_metal was not reported

## How Atlas produces this analysis

Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.