In a post on the official forums, community manager Aethon confirms that Valencia part 2 and Warrior awakening is scheduled to be release on August 31, 2016. This is subject to change if complications occur.
Awakening requires players to be level 56 to unlock a new type of weapon as well as new skills. In the case of the warrior, they unlock a great sword, a large two handed sword that handles differently than the usual single handed sword and shield that the class currently uses. Other classes’ awakenings will be unlocked shortly after the warrior’s.
The Valencia part 2 expansion will be free for all players that currently own the game. It increases the map size of the Valencia region, bringing two new cities, one of which is a bandit town for players that have gone into the negative karma state via PVP. It also brings a new PVP penalty system for the Valencia region that throws rogue players into prison(which can be escaped), as well as hidden dungeons and more.