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INTERVIEW: Opawica $OPW.ca Discusses Bazooka Drill Program on Strike to Yorbeau-Kinross Rouyn Property #Gold #Mining

Posted by AGORACOM-JC at 10:07 AM on Wednesday, August 16th, 2017

Opawica Explorations Inc. Announces Drill Mob at Bazooka Property on Strike to Yorbeau-Kinross Rouyn Property, Quebec; and up to $1,200,000 Private Placement

Posted by AGORACOM-JC at 12:14 PM on Tuesday, August 15th, 2017

Opw

  • Commenced mobilization of an initial Phase I drill program of up to four holes at its 100% owned Bazooka gold property
  • Drill program will consist of one deep hole of approximately 1,000 metres to test for gold mineralization at depth

Vancouver, British Columbia–(August 15, 2017) – Opawica Explorations Inc. (TSXV: OPW) (the “Company”) announces that the Company has commenced mobilization of an initial Phase I drill program of up to four holes at its 100% owned Bazooka gold property located near Rouyn-Noranda, Quebec.

The drill program will consist of one deep hole of approximately 1,000 metres to test for gold mineralization at depth associated with the Cadillac Larder Lake Break and related stratigraphy. The hole will also serve as a platform to conduct down hole geophysics.

Three holes are planned to be drilled to fill in certain areas between past drilling at depths of up to 200 metres. Following this drilling, the Company will be in the position to proceed with a further Phase II drilling program that will include a resource calculation on the eastern 300 metre portion of the Bazooka property.

The initial 1,000 metre hole will be drilled first and is expected to commence drilling in the next two weeks and should be completed within 30 days.

ABOUT THE BAZOOKA PROPERTY

The Company’s Bazooka property adjoins the Yorbeau Resources Inc. (“Yorbeau”) – Kinross Gold Corporation (“Kinross”) optioned Rouyn property where up to 22,000 metres of drilling has been completed by Kinross as operator along certain sections of the 9 kilometre strike length of the Rouyn property. Some of this drilling has been completed within a few hundred metres of Opawica’s eastern boundary near the Augmitto shaft on the Rouyn property.

The Bazooka property hosts significant gold mineralization starting at the eastern border of the Yorbeau-Kinross Rouyn ground to at least 800 metres to the west on Bazooka. The Bazooka property is open on strike for seven kilometres to the west and is open at depth. Of the seven kilometres of strike length on the Bazooka property, only 800 metres have been tested within 300 metres of surface.

Past holes drilled by previous operators and current holes drilled by Opawica in 2017 have returned holes, such as and ranging between, 54.8 metres at 0.65 g/t Au (Opawica-2017), 48 metres at 1.38 g/t Au (uncut -2017 restated from Lake Shore Gold (“LSG”, 2003); 17 metres at 7.86 g/t Au as well as 3.20 metres @ 12.49 g/t Au (RT Minerals Corp 2011); and 94 g/t Au over 1.25 metres (LSG 2004) as well as other gold bearing intercepts. All of the above intercepts are estimated at 80 to 85% true widths and all of the above gold mineralization is within 300 metres of surface.

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.

PRIVATE PLACEMENT

The Company proposes to undertake a private placement to raise gross proceeds of up to $1,200,000 (the “Offering”). The Company proposes to raise up to $400,000 through the sale of up to 8,000,000 non flow-through units priced at $0.05 (the “NFT Units”) and up to $800,000 through the sale of up to 10,000,000 flow-through units priced at $0.08 (the “FT Units”). Each NFT Unit consists of one common share and one half of a share purchase warrant, with each whole warrant (the “Warrant”) exercisable into one further common share at a price of $0.10 for a term of one year. Each FT Unit consists of one flow-through common share and one half of a share purchase warrant, with each whole Warrant exercisable into one further common share at a price of $0.10 for a term of one year.

The Warrants will contain an accelerated expiry clause such that, in circumstances where the closing price of the shares of the Company on the TSX Venture Exchange is $0.15 or greater for a 20 day consecutive trading period, they will expire if not exercised 14 days following the 20 day trading period.

The Offering will be conducted under available exemptions from the prospectus requirements of applicable securities legislation and participation in the Offering will be available to existing shareholders in qualifying jurisdictions in Canada in accordance with the provisions of BC Instrument 45-354 (the “Existing Shareholder Exemption”) and similar provisions in other jurisdictions’ securities legislation and will be available to persons in qualifying jurisdictions in Canada who have obtained advice as to the suitability of the investment from a person registered as an investment dealer in accordance with the provisions of BC Instrument 45-536 and similar provisions in other jurisdictions’ securities legislation.

The Company has set August 11, 2017 as the record date for the purpose of determining shareholders entitled to participate in the Offering in reliance on the Existing Shareholder Exemption. Qualifying shareholders who wish to participate in the Offering should contact the Company as detailed below. If the Offering is oversubscribed, units will be allocated pro rata amongst all subscribers.

The proceeds from the sale of the flow-through portion of the Offering will be used for exploration activity on the Company’s 100% owned Bazooka gold property. The proceeds from the sale of the non flow-through portion of the Offering will be used for general working capital.

A finder’s and/or administrative fee of up to 10% may be paid to registered representatives in connection with the Offering. The fee will be comprised of 50% cash and 50% common shares at $0.05 per share.

The Offering is subject to the acceptance of the TSX Venture Exchange.

For more information, please visit the Company’s website at www.opawica.com.

FOR FURTHER INFORMATION CONTACT:

Paul Antoniazzi
Managing Director
Opawica Explorations Inc.
Telephone: 604-681-3170
Fax: 604-681-3552

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. 

Far East Tensions Cause Gold Prices to Perk, GREAT News for…$AMK.ca $EXS.ca $GGX.ca $GR.ca $GZD.ca $MQR.ca $OPW.ca

Posted by AGORACOM-JC at 12:34 PM on Friday, August 11th, 2017
  • Gold soared to two-month highs on Friday, as investors of all stripes sought refuge from the uncertainty of escalating tensions between North Korea and the United States

U.S President Donald Trump warned North Korea again on Thursday not to strike Guam or U.S. allies, saying his earlier threat to unleash “fire and fury” on Pyongyang if Kim Jong-un launched an attack may not have been tough enough.

Spot gold was up 0.3% at $1,290.36 U.S. per ounce, set for its biggest weekly gains since April. It earlier hit its highest since June 8 at $1,288.97 U.S. an ounce.

Geopolitical risks can improve demand for assets considered safe-haven investments such as gold.

Silver added 0.4% to $17.15 U.S. per ounce after hitting $17.24, its highest since June 14, in the previous session. It was on course for an over 5% weekly rise, the highest such gain since July 2016.

Platinum climbed 1.2% to $987.70 U.S. per ounce after touching $984.60 U.S. during the session, its highest since April 18. It was up about 2% for the week so far.

Palladium climbed 0.3% to $899.50 U.S. per ounce and was on track to end the week 2.3% higher.

Source: http://www.baystreet.ca/commodities/1212/Far-East-Tensions-Cause-Gold-Prices-to-Perk

BULLETIN: Gold Prices Score a Lift as Dollar Softens $AMK.ca $EXS.ca $MQR.ca $OPW.ca $GGX.ca $GR.ca

Posted by AGORACOM-JC at 10:19 AM on Tuesday, August 8th, 2017
  • Gold futures rose on Tuesday as the U.S. dollar retreated, giving dollar-pegged commodities a modest lift in early trade.
  • December gold GCZ7, +0.28%  was $5.80, or 0.5%, higher at $1,270.50 an ounce, with the contract looking at back-to-back gains after Monday’s tepid rise.

The ICE U.S. Dollar Index DXY, -0.12% a gauge of the buck against a half-dozen currency rivals, was down 0.1%. Although the dollar has climbed 0.5% so far this month, the currency gauge is down 2.8% over the past 30 days, underscoring the greenback’s recent downtrend amid doubts about the pace of economic growth in the U.S., including signs of weaker-than-hoped-for inflation. The uncertain economic picture leaves financial markets wondering if the Federal Reserve will raise interest rates again this year.

A softening dollar can make assets linked to the currency more attractive to buyers using weaker currencies.

Meanwhile, September silver SIU7, +0.79% added 12 cents, or 0.8%, at $16.38, putting the white metal in position to end a four-session slide.

Tuesday’s rise for metals also comes amid heightened geopolitical risk, headlined by rising tensions between the U.S. and North Korea and its nuclear aspirations.

“Gold needs to break and trade over $1273.30 [an ounce] for the rest of the day to zoom,” said Chintan Karnani, chief market analyst at Insignia Consultants, based in New Delhi.

“Political news from [the U.S.] will be the key market mover today. The fact that U.S. dollar has not zoomed after the release of Friday’s July nonfarm payrolls can result in more losses for the greenback in the short term,” Karnani said.

The Labor Department on Friday showed that the U.S. added a better-than-expected 209,000 in July, pushing the unemployment rate to a 16-year low at 4.3%, but wage data remained tepid.

Mark O’Byrne, research director at GoldCore Ltd., said Friday’s selling in gold after the jobs report may have been overdone and said recent moves for the metal reflects that view. It’s also reflective of an uptick in concerns about meaningfully adding to assets perceived as risky with concerns persisting over drama in President Donald Trump’s White House and worries about a potential hike to the U.S. debt ceiling to avoid a government shutdown.

“I think there’s a little bit of risk aversion in the market,” O’Byrne said.

The Goldcore analyst said he’s optimistic on gold’s price for those reasons but recognizes that it could easily swing lower on sentiment that favors risk assets like stocks, with the Dow Jones Industrial Average DJIA, -0.14% and the S&P 500 index SPX, -0.16% both hitting all-time highs on Monday.

Tuesday’s modest gains in metals also comes as China trade data showed July exports and imports grew at a slower pace than they had recently, which should be a headwind for commodities prices.

Lackluster data have pressured shares of European miners, including iron-ore producers BHP Billiton PLC BLT, -1.29% BHP, -1.41% BHP, -0.23%  and Rio Tinto PLC RIO, -1.66% RIO, -1.25% RIO, -0.45% Anglo American PLC AAL, -0.50% lost 0.5%, while copper miner Antofagasta PLC ANTO, -0.52% moved down 1.2%.

In exchange-traded funds, the SPDR Gold Shares GLD, +0.45% rose 0.5% premarket, mining-company focused VanEck Vectors Gold Miners ETF GDX, +0.86% advanced 0.9%, while silver-oriented iShares Silver SLV, +1.17% gained 0.9%.

Source: http://www.marketwatch.com/story/gold-prices-score-a-lift-as-dollar-softens-2017-08-08

U.S. Dollar Index Crashes by Most in 6 Years $AMK.ca $EXS.ca $GGX.ca $GZD.ca $MQR.ca $OPW.ca

Posted by AGORACOM-JC at 6:19 PM on Wednesday, August 2nd, 2017
  • So far year-to-date in 2017, the U.S. Dollar Index has crashed by more than 10% from 103.30 down to 92.89.
  • Last time that the U.S. Dollar Index declined by 10% or more in a period of 151 trading days was back on April 29, 2011. Gold at the time was trading for $1,540.25 per oz and over the following four months it soared by $354.75 per oz or 23% to a new record high of $1,895 per oz.

Historically, from 1971 through today, when the U.S. Dollar Index declines by 10% or more during a period of 151 trading days, gold over the following 12 months has gained by a median of 18.7%. To the contrary, when the U.S. Dollar Index gains by 10% or more during a period of 151 trading days, gold over the following 12 months has declined by a median of -0.24%. Click here to see for yourself!

Source: http://inflation.us/us-dollar-index-crashes-by-most-in-6-years/

FEATURE: 7km’s of Gold Vault Strike Between 3 Gold Producers $OPW.ca

Posted by AGORACOM-JC at 11:08 AM on Friday, July 28th, 2017

Opw

WHY OPAWICA?

  • 7km’s of gold vault strike between 3 gold producers
  • In one of the largest gold producing regions in Canada
  • Adjoining to Ridgemont, Granada and Kinross Gold Producing Mines in Rouyn-Noranda Quebec
  • Bazooka properties cover 7 kilometres of the prolific CLLB
  • Cadilac-lardner lake fault system has produced Over 200M oz of GOLD

BAZOOKA EAST GOLD PROPERTY ‐ QUEBEC

FACT SHEET

CORPORATE PRESENTATION

12 MONTH STOCK CHART

FEATURE: 7km’s of Gold Vault Strike Between 3 Gold Producers $OPW.ca

Posted by AGORACOM-JC at 4:34 PM on Monday, July 17th, 2017

Opw

WHY OPAWICA?

  • 7km’s of gold vault strike between 3 gold producers
  • In one of the largest gold producing regions in Canada
  • Adjoining to Ridgemont, Granada and Kinross Gold Producing Mines in Rouyn-Noranda Quebec
  • Bazooka properties cover 7 kilometres of the prolific CLLB
  • Cadilac-lardner lake fault system has produced Over 200M oz of GOLD

BAZOOKA EAST GOLD PROPERTY ‐ QUEBEC

Phase I drilling program consisted of five holes totalling 2,172 metres of drilling.

  • Hole 01 intersected a wide zone of gold mineralization approximately 185 metres east of a Lake Shore Gold Corp. (“LSG”) hole drilled in 2004 (BA-03-02A), which returned several narrow high grade gold intercepts with visible gold along with intermittent anomalous gold values.
  • In addition, drilling completed in 2011 by RT Minerals Corp. (“RTM”) intersected this favourable horizon (zone) about 50 metres east of current Opawica drilling. This historic hole intersected 17 metres of core length at 7.86 g/t Au (RTM June 21, 2011 press release).
  • With the 54.8 metre wide zone intersected in current drilling a further review of the historic LSG hole has resulted in the restating of the LSG hole at 1.68 g/t Au (uncut) (including 17 metres at 3.59 g/t Au) and 0.95 g/t (cut to 31 g/t Au) over 48 metres. The current Opawica hole and the historic LSG hole both contained fuchsite and arsenopyrite and are in close proximity to the Cadillac Larder Lake Break (“CLLB”).
  • Hole 02 in the current program intersected highly anomalous gold values (0.17 g/t Au) over the same zone for 39.9 metres. Hole 03 also intersected the same zone returning anomalous gold values (0.12 g/t Au) over 20.5 metres. Hole 04 also hit the same zone returning anomalous gold values and Hole 05 intersected the zone over a width of 65.5 metres containing highly anomalous gold values (0.24 g/t Au).

All of the above current and historic intervals are estimated at approximately 85% to 95% true widths. Assaying was completed by Swastika Laboratories Ltd. of Kirkland Lake, Ontario.An NI 43-101 technical report on the Bazooka property dated March 20, 2016

HISTORICAL RESULTS

BAZOOKA PROPERTY – EAST BOUNDARY

MCWATTERS GOLD PROPERTY

  • Bazooka and McWatters gold properties are located near Rouyn Noranda, Quebec, and are situated along the prolific Cadillac
    -Larder Lake Break (“CLLB”)
  • Company owns 100% interest in the Bazooka & McWatters properties Adjacent Bazooka and Bazooka West properties extend the Company’s strike length along the CLLB to approximately 7 km.
  • Kinross has signed a CDN $60 million definitive option agreementto purchase 100% of the adjacent Yorbeau Resources Inc. Rouyn Property (see Yorbeaupress release of October 25, 2016).

FACT SHEET

CORPORATE PRESENTATION

12 MONTH STOCK CHART

Bright Outlook For Gold and The following $AMK.ca $EXS.ca $GGX.ca $GR.ca $MQR.ca $OPW.ca

Posted by AGORACOM-JC at 11:51 AM on Wednesday, June 21st, 2017

Several analysts point out that the outlook for gold and, by association, gold stocks, is bright despite rising US interest rates.

  • Demand in India and China rebounds sharply in recent months
  • Trend towards increased use of scrap gold reverses over past five years
  • Divergence in cash costs between USD and non-USD denominated companies

By Eva Brocklehurst

Gold retains a role as both an investment and defensive asset and analysts believe it will remain an important part of portfolios for both the private sector and central banks. Gold is a store of wealth in unstable times and such times prevail.

ANZ analysts expect increased political uncertainty in the US will support gold in the short term despite higher interest rates. Gold prices are forecast to push past US$1300/oz over the next 12 months and there are positive long-term prospects as well.

In the wake of the US Federal Reserve’s recent increase to its Fed Funds rate, and if the three rate rises in the current cycle are anything to go by, Bell Potter also considers the outlook positive for gold. Typically, rising interest rates are considered negative for gold because of the increased opportunity cost of holding an asset with no yield. As the gold price is appreciating amid rising interest rates in the US this signals to the broker that both inflation and safe-haven trade are key themes in the gold market.

The ANZ analysts do not envisage rising US interest rates as a negative. Gold has rallied in all but one of the past seven rate-hike cycles since the 1970s. Gold has also outperformed when interest rates were increasing relatively slowly. Furthermore, the analysts believe, if the US political situation worsens this year, there is a possibility gold prices will breakthrough US$1300/oz. Safe-haven buying is a strong driver of investor demand and is usually sparked by macro shocks or political instability.

Emerging markets should drive demand for physical gold for some time and China and India are already the world’s largest gold consumers. Demand in India and China has rebounded sharply in recent months and the analysts observe the issues around de-monetisation in India are abating, while there has been a sharp pick up in China’s gold imports, which suggests previous constraints have eased.

Growth in salaries, automobile sales and passenger air travel in India is expected to support the country’s gold market over the next year as India’s gold demands tend to correlate with income growth. Gold holdings are also likely to increase at central banks and most of the future buying is expected from central banks in emerging markets as they move closer to developed world levels.

China is likely to dominate the recovery in the gold price as Asian financial centres open up and the ANZ analysts find no reason why Shanghai should not become a major centre for gold trading, provided the appropriate institution and legal reforms take place. Asia is expected to account for over half of the global economy by 2050.

Supply

On the supply side prices are supported by the fact that gold mines cannot expand rapidly. Gold production has risen by an average of just 0.9% since 1995, year-on-year. Mine supply remains the primary source of gold and the trend towards increasing use of scrap has reversed over the past five years. New gold in total supply rose to over 70% in 2016.

Those countries driving the growth in the primary source of gold are ones best place to do so in the future, the analysts assert. Gold reserves are concentrated, at around 70%, in just 10 countries and Australia and South Africa have the largest unmined reserves. Meanwhile, scrap supply is volatile and the extraction from recycled electronics costly, so scrap gold is heavily influenced by both the price of gold and economic cycles.

As the ASX gold index is now down -3% year-to-date, Bell Potter believes the best performances are being driven by company-specific catalysts among the single-mine producers and successful explorers. The broker observes, while the gold price has not cracked US$1300/oz yet, it has established a pattern of higher lows and higher highs.

With a relatively steady exchange rate the Australian-dollar gold price has followed a similar track. The broker also believes relative outperformance of equities versus gold bullion is an indicator of positive sentiment.

Meanwhile, the costs associated with gold mining have fallen globally by around 15% over the past three years. Most of the reductions have been made in operating or production costs. The biggest cost reductions have been experienced in Australia, the ANZ analysts observe, where total cash costs have declined an average -30% since 2012.

Two factors, exchange rates and oil prices, have helped drive costs down and the analysts estimate around 60% of gold mining costs are based in local currency terms and around 10-12% related to oil prices. Indonesia, South Africa, Australia and Canada appear to have been the biggest beneficiaries in this regard.

Divergence In Cash Costs

Citi has highlighted a divergence between the cash costs of US dollar-denominated and non-US dollar-denominated companies. South African gold producers, in particular, have sustained all-in cash cost hikes of 16% while those of US dollar-denominated companies declined by -2.7%. Citi expects that a strengthening South African rand will continue to put pressure on South African gold stocks as will rising capital and exploration expenditure.

The broker expects costs in the industry to rise this year as years of under-investment unwind, especially if a stable, or higher, gold price prevails. Citi believes consensus expectations do not appropriately reflect the rising costs and maintains a bearish view on the sector, particularly South African gold stocks.

Based on recent changes to the underlying MVIS Junior Gold Miners index and significant changes to the GDXJ methodology in the US, Macquarie expects the main impact will be on North America markets. Yet, key beneficiaries in the Australian context are Newcrest Mining ((NCM)), Evolution Mining ((EVN)), Northern Star ((NST)) and OceanaGold ((OCG)).

These stocks have been are seen returning to the index as the eligibility band is widened. Smaller stocks are expected to suffer as a result of the re-balance. Macquarie believes investors should keep buying quality in good jurisdictions where there are cornerstone assets.
Source: https://www.fnarena.com/index.php/2017/06/19/bright-outlook-for-gold/

Opawica Explorations Announces Purchase of Bazooka West Gold Property for 100% Ownership of Seven Contiguous Kilometres of Cadillac Larder Lake Break $OPW.ca

Posted by AGORACOM-JC at 5:10 PM on Friday, April 28th, 2017

Opw

  • Exercised its option to acquire 100% interest in the Bazooka West property located in Beauchastel Township, Quebec, from Globex Mining Enterprises
  • 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

Shares for Services Agreement With AGORACOM

VANCOUVER, BRITISH COLUMBIA-(April 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.

Fred Kiernicki
President and Chief Executive Officer
Opawica Explorations Inc.
604-681-3552
604-681-3170