VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 28, 2017) - Opawica Explorations Inc. (the "Company") (TSX VENTURE:OPW)
announces that pursuant to its news releases dated August 2, 2016 and January 30, 2017, the Company has exercised its option to
acquire 100% interest in the Bazooka West property located in Beauchastel Township, Quebec, from Globex Mining Enterprises Inc.
("Globex"), for consideration of a final option payment of $30,000 cash and 500,000 common shares of the Company which are
subject to a four month hold period expiring August 22, 2017. Globex retains a 3% Gross Metal Royalty ("GMR") with the Company
retaining the right to purchase 1% of the GMR for $1,000,000 within five years.
The Bazooka East and West gold properties combine for a total strike length of approximately seven kilometres along one of the
most prolific auriferous structures in the world, the Cadillac Larder Lake Break ("CLLB"). Opawica's collective 100% ownership,
subject to various underlying royalties, of these properties will now be referred to as the Bazooka Gold Property (the
"Property").
To date only 800 metres of strike length has been tested by limited shallow drilling and small mining activities undertaken in
the early 1950's through a 115 metre deep shaft on the Bazooka Gold Property. This outlines approximately six kilometres of
untested strike length and the entire seven kilometres of the Bazooka Gold Property is open to depth for gold exploration.
The eastern border of Opawica's Bazooka Gold Property adjoins Yorbeau Resources Inc.'s ("Yorbeau") Rouyn Property that is
currently under option for Kinross Gold Corporation ("Kinross") to purchase a 100% interest for consideration that includes C$12
million in certain exploration expenditures and a single cash payment of US$25,000,000, plus 2% of the prevailing gold price
multiplied by the number of ounces in measured, indicated and inferred resources identified in a resource estimate to be
completed on the Rouyn Property (see Yorbeau press release dated October 25, 2016). In addition, the western border of the
Bazooka Gold Property adjoins Richmont Mines Inc.'s Wasamac gold property (~3 million ozs Au resources).
All of these properties are within 10 kilometres of the Rouyn-Noranda mining camp and are located on, or near, the CLLB. The
220 kilometre length of the CLLB, and areas in general proximity thereto, between Matachewan, Ontario to Val D'Or, Quebec have
yielded over 125 million ounces of gold from production and existing gold resources.
SHARES FOR SERVICES AGREEMENT WITH AGORACOM
The Company has entered into an online marketing and advertising agreement (the "Agreement") with Agora Internet Relations
Corp. ("AGORACOM") for a one year term ending April 30, 2018. The Company expects to receive significant advertising exposure
over the next 12 months through many content brand insertions on the AGORACOM network and extensive search engine marketing.
As compensation for the services to be provided, AGORACOM will receive $45,000 plus applicable HST and payment will be made by
the issuance of common shares at a deemed price per share to be determined after the date the services are provided during the
year. AGORACOM will be paid $9,000 plus applicable HST in value of shares upon commencement of the Agreement on May 1, 2017, and
thereafter will receive $9,000 plus applicable HST in value of shares at the end of each quarter with the final share payment to
be made on April 30, 2018. The shares issued to AGORACOM will be subject to a four month hold period from the date of each
issuance of shares.
The Agreement and all securities proposed to be issued thereunder are subject to the acceptance of the TSX Venture
Exchange.
Mr. Yvan Bussieres, P.Eng., is the Qualified Person who has prepared or supervised the preparation of the information that
forms the basis for the scientific and technical disclosure in this news release.
For more information, please visit the Company's website at www.opawica.com.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy of accuracy of this news release.
Forward-looking Statements
Certain statements in this press release relating to the Company's exploration activities, project expenditures and business
plans are approximate and are "forward-looking statements" within the meaning of securities legislation. The Company does not
intend, and does not assume any obligation, to update these forward-looking statements. These forward looking statements
represent management's best judgment based on current facts and assumptions that management considers reasonable, including that
operating and capital plans will not be disrupted by issues such as adverse market conditions, mechanical failure, unavailability
of parts, labor disturbances, interruption in transportation or utilities, or adverse weather conditions, that there are no
material unanticipated variations in budgeted costs, that contractors will complete projects according to schedule, and that
actual mineralization on properties may not achieve any category of resource(s). The Company makes no representation that
reasonable business people in possession of the same information would reach the same conclusions. Forward looking statements
involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements
of the Company to be materially different from any future results, performance or achievements expressed or implied by the
forward-looking statements. In particular, fluctuations in the price of gold, equity markets or in currency markets could prevent
the Company from achieving its targets. Readers should not place undue reliance on forward-looking statements. There is no
guarantee that drill results reported in this news release or future releases will lead to the identification of a deposit that
can be mined economically, and further work is required to identify resources and reserves. We seek safe harbour.