Awalé Resources Limited announced that the Company and Colossal Gold Resources Limited have mutually agreed to terminate the letter agreement dated September 12, 2022, as amended. The Company has made the strategic decision to prioritize the exploration and development of its core projects in Côte d'Ivoire, specifically those properties surrounding and along the structural setting from the Odienne JV area with Newmont. Awalé, Colossal and the shareholders of Colossal have mutually agreed it is in the Parties' interests to terminate the Agreement and not to further extend the January 31, 2023 Outside Date without further obligation or liability to each other Party.