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Opawica Explorations Inc (7)
Symbol OPW
Shares Issued 33,273,767
Close 2024-12-03 C$ 0.25
Market Cap C$ 8,318,442
Recent Sedar Documents

Opawica receives drill permit for Arrowhead targets

2024-12-03 17:47 ET - News Release

Mr. Blake Morgan reports

OPAWICA RECEIVES DRILL PERMITS FOR THE ARROWHEAD PROJECT.

Opawica Explorations Inc. has received a two-year drill permit on its 25 high-priority gold targets at the Arrowhead property of the Abitibi gold camp. The permit allows 25 drill pad locations with short-range spacing, allowing the company to move forward quickly on any one of the targets once permitting is received.

Blake Morgan, chief executive officer and president, states: "We are thrilled to have the drill permits in hand on the Arrowhead project and we are expecting the Bazooka drill permits to closely follow. With high-priority drill targets in play, the team at Opawica Explorations is eager to start drilling both its flagship properties in one of the most prolific gold-bearing regions on earth. We expect to have more news regarding the drilling soon."

The 25 drill targets were done in collaboration with ALS GoldSpot Discoveries Ltd. and Opawica. The team integrated various drill hole recent and legacy data sets, including geological, structural, alteration, mineralogical, geochemical and two-dimensional seismic data that have provided a deeper insight into Arrowhead's geology. The interpretation of this updated drill hole database led to a cohesive three-dimensional model/geological model, fault network and orebody model, which have provided the foundation for a drilling exploration strategy at Arrowhead property.

First prospecting started in 1920 on the major shear zone located in the northern part of the property. In 1926, the exploration works consisted of prospecting, pitting, trenching and diamond drilling, mainly to test two shear zones containing quartz-carbonate veins with free gold. Gold values of up to 45.05 grams per tonne were obtained over appreciable widths.

M. Yvan Bussieres, PEng, is the qualified person for Opawica Explorations and approves the technical content of this news release. The qualified person has not verified the information on the Abitibi greenstone belt. Mineralization hosted on adjacent and/or nearby and/or geologically similar properties is not necessarily indicative of mineralization hosted on the company's properties.

The company has entered into an advertising and investor awareness campaign with Dig Media Inc., doing business as Investing News Network (INN). INN is a private company headquartered in Vancouver, Canada, dedicated to providing independent news and education to investors since 2007. For the 12-month term of the agreement starting November, 2024, INN will provide advertising on its website to increase awareness of the issuer. INN does not provide investor relations or market-making services. The cost of the campaign is $22,500. INN can be reached at 604-688-8231 or info@investingnews.com.

The company is pleased to announce that it has renewed the service agreement, dated June 7, 2024, with White Rabbit Projects Pte. Ltd., pursuant to which White Rabbit shall act as the facilitator of a marketing campaign by the company of up to $305,000 (U.S.), and to provide the company with assistance related to the organization and co-ordination of the company's investor relations and promotional activities. The campaign will be co-ordinated and facilitated by White Rabbit but carried out by third party investor relations providers that will be introduced to the company by White Rabbit and cleared with the TSX Venture Exchange. In exchange for the engagement, the company will pay White Rabbit a fixed fee of $15,000 (U.S.) for the duration of the agreement, which fee will be counted toward the spending cap. The spending cap is designed to facilitate the company's investor relations activities across all engagements during the following 12-month campaign period and may be allocated to additional investor relations service providers as may be engaged by the company with the assistance of White Rabbit and subject to customary regulatory approvals. Costs related to the engagement will be paid from the general working capital of the company. White Rabbit will not be providing any market-making services. White Rabbit, an arm's-length party to the company, is a Singapore-based investor relations consulting company owned and founded by Hamid Kazemzadeh, an experienced marketing and investor relations professional. White Rabbit focuses on delivering marketing campaigns with compelling storylines that resonate in the capital markets landscape and foster stronger connections and impactful market presence. To the company's knowledge, neither White Rabbit nor its principals own, have any interest, or have any right to own or have an interest, in securities of the company.

As part of the White Rabbit agreement, White Rabbit will onboard Native Ads Inc. to execute a comprehensive digital media advertising campaign on behalf of the company for a total retainer of up to $290,000 (U.S.) over a term of up to 12 months or until the retainer is otherwise depleted. Under the renewal agreement, dated Nov. 21, 2024, Native Ads will execute a comprehensive digital media advertising campaign on behalf of the company. A significant portion of the budget outlay will be allocated to cost per click costs, media buying, content distribution and search engine marketing. The remaining budget will be allocated for content creation, Web development, advertising creative development, search engine optimization, campaign optimization, and reporting and data insights services. The agreement includes a total retainer of up to $290,000 (U.S.) over a term of up to 12 months, with the management of the budget to be at the discretion of the company. Native Ads is a full-service advertising agency based out of New York, N.Y., and Vancouver, B.C. Native Ads and its principal, Jon Malach, are arm's lengths to the company, and hold no interest, directly or indirectly, in the securities of the company or any right to acquire such an interest. The engagement of Native Ads and White Rabbit is subject to the approval of the TSX Venture Exchange.

About Opawica Explorations Inc.

Opawica Explorations is a junior Canadian exploration company with a strong portfolio of precious and base metal properties within the Rouyn-Noranda region of the Abitibi gold belt in Quebec. The company's management has a great record in discovering and developing successful exploration projects. The company's objective is to increase shareholder value through the development of exploration properties using cost-effective exploration practices, acquiring further exploration properties, and seeking partnerships by either joint venture or sale with industry leaders.

We seek Safe Harbor.

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