OPW:CC - Opawica Drills 18.7 G/T AU 13.70 G/T AU and 12.7 G/T AU at Bazooka

(TheNewswire)

Vancouver, B.C. – TheNewswire - August 15, 2022 - Opawica Explorations Inc.(TSXV:OPW) (FSE:A2PEAD) (OTC:OPWEF) (the “Company” or“Opawica”)  is pleased to announce the positive drill results onits wholly owned Bazooka Property.

Opawica’s drill program on the Bazooka was designedin collaboration with Goldspot who used integrated and reinterpreteddata sets (geochemical, geophysical, geological). As a result, Opawicawas provided with a cohesive and informed geoscientific interpretationin efforts to help facilitate drill targeting on the Bazooka property.The drill targets that were generated were derived from anunderstanding gained from Goldspot based on their analysis. Structuralinterpretations and 3-D modelling were provided by Goldspot and led tothe development of an updated geological model which includes foldevents, numerous lithostratigraphic units, as well as faults.  TheCompany completing 5,022 m of drilling over 21 drill holes on theBazooka and sent in a total of 1,658 rock samples, representing 2,092linear metres for analysis (See Table 1).

The 21 drill holes were completed on 18 setups testing18 different drill targets representing less than half of 48 drilltargets generated by Goldspot.  Thirty (30) Goldspot drill targetshave not been tested for gold mineralization.

Gold mineralization on the property occurs withinmixed, up to 60-metre-wide (estimated true width), strongquartz-carbonate-sericite and talc-chlorite schists of sedimentary andultramafic to mafic volcanic protoliths, respectively, and is referredto as the Main zone. The alteration and mineralization are spatiallyassociated with the Cadillac-Larder Lake. The break/fault zone is atthe base and is characterized by up to two-metre-wide (estimated truewidth), strongly graphitic fault. The graphitic fault generally marksthe contact between the sedimentary and ultramafic metavolcanic rocks.This mineralization has been identified throughout the region inproducing gold mines like the Yorbeau Resources Inc. Ryoun areacquiring, and more to come, our geological team is gathering agreater understanding of the system. Open to depth, north, south andto the west, we will use this new data to generate additional highpriority drill targets for our phase two campaign. Opawica holds 7kmsof the Cadillac-Larder fault zone within the Bazooka property, and theexploration team has only touched on 20%. It is well documented thatthis fault system contains multiple million-ounce deposits and Opawicais moving to uncover and expand the already known gold system.”

The Company has engaged Abitibi Geophysics to undertakea DasVision 3D Induced Polarization (IP) over an area of 400x400m portion of the property.  TheIP survey covers the main zone alteration where known zone ofmineralization is up to 15m wide in quartz carbonate stock work.  Theobjective of the IP survey is to identify the lateral and verticalextension of known hydrothermal and mineralization zones. In addition,Opawica also plans to undertake downhole geophysics on recentdrillholes. The new data will be integrated into the evolvinggeological model generated by Goldspot for follow up drill targeting.

A follow up program consisting of downhole geophysics(to better define drill targets and define areas for infill drilling)in and around known current and historical gold mineralization in thevicinity of the Bazooka shaft is now being planned.

Mineralization Highlights

18.70 Au g/t over 1 m is within a larger 43.9-metersection of Quartz-sericite stockwork with trace pyrite with visiblegold at 279.4 meters.

The 13.70 Au g/t over 1.6 m is in silicified sherd zonewith quartz veining with trace tourmaline and fuchsite.

12.70 Au g/t over 0.5 m is in quartz vein stockworksilicified zone with two visible gold flakes.

Table 1: Drill Results

Assay results are presented as uncut weighted averages.Interval widths represent drilled NQ core lengths and true width isunknown currently. The balance of the drill results gave negligiblevalues.

Assay samples were analyzed at Techni-Lab AbitibiInc.(Act labs) 184 Rue Principale Ste-Germaine-Boule Quebec  (anISO/IEC 17025:2005 accredited facility). The sampling program wasundertaken by Company personnel under the direction of Mr. Yvan Bussieres, P.Eng., A secure chain of custody is maintained in transporting andstoring of all samples. The rock samplesunderwent fire assays, 1E3 - Aqua Regia – ICPOES and select samplesunderwent gravimetries

Samples of mineralization were taken at0.5-to-1.5-meter intervals, with sample intervals being adjusted torespect lithological and/or mineralogical contacts and isolate narrowveins or other structures that may yield higher grades.  The core wassplit in two separate sections. One half of the core, the other halfis sent for analysis.

One half of the sampled intervals were bagged andtagged with one of the dual sample tags. The individual sample bagsare sealed and placed into rice bags and marked with the contents. Thesamples are delivered in batches in January to Techni-Lab Abitibi Inc.(Actlabs) Ste-Germaine-Boule Quebec, for processing, crushing,pulverizing and analysis.

The Quality Assurance and Quality Control or QA/QCprotocols are as follows: A blank sample is inserted at samples endedby the number 10, 30, 70 and 90 in the sample sequence – a blanksample usually consists of white ¾ inch rock that is known not tocontain any metals.  A low-grade rock standard is inserted at samplesended by the number 50, in the sample sequence.  A high-grade rockstandard is inserted at samples ended by the number 00, in the samplesequence.

Table 2 Drill Hole Locations

Subject to TSXV approval, the Company has repriced thefollowing options to $0.10:

• 1,650,000 options exercisable at $0.60 expiring June 8,2026

• 200,000 options exercisable at $0.34 expiring October20, 2026

• 495,000 options exercisable at $0.34 expiring December22, 2026

About Opawica Explorations Inc.

Opawica Explorations is a junior Canadian explorationcompany with a strong portfolio of precious and base metal propertieswithin the Rouyn-Noranda region of the Abitibi gold belt in Quebec,and in central Newfoundland and Labrador. The company's management hasa great record in discovering and developing successful explorationprojects. The company's objective is to increase shareholder valuethrough the development of exploration properties using cost-effectiveexploration practices, acquiring further exploration properties andseeking partnerships by either joint venture or sale with industryleaders.

Opawica's Bazooka properties cover seven kilometres ofthe prolific CLLB. The Bazooka properties are bound to the west by theWassamac gold property, which is 100 per cent owned by Richmont MinesInc.

Yvan Bussieres, P.Eng., OIQ #31985, has reviewed andapproved the technical content of this news release. * The QualifiedPerson has been unable to verify the information on the adjacentproperties. Mineralization hosted on adjacent and/or nearby and/orgeologically similar properties is not necessarily indicative ofmineralization hosted on the Company’s properties.

FOR FURTHER INFORMATION CONTACT

Blake Morgan

President and Chief Executive Officer

Opawica Explorations Inc.

Telephone: 604-681-3170

Fax: 604-681-3552

Neither the TSX Venture Exchange nor its RegulationService Provider (as the term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy of accuracyof this news release.

Forward-Looking Statements

This news release contains certain forward-lookingstatements, which relate to future events or future performance andreflect management’s current expectations and assumptions. Such forward-looking statements reflectmanagement’s current beliefs and are based on assumptions made byand information currently available to the Company.  Readers arecautioned that these forward-looking statements are neither promisesnor guarantees, and are subject to risks and uncertainties that maycause future results to differ materially from those expectedincluding, but not limited to, market conditions, availability offinancing, actual results of the Company’s exploration and otheractivities, environmental risks, future metal prices, operating risks,accidents, labor issues, delays in obtaining governmental approvalsand permits, and other risks in the mining industry.  All theforward-looking statements made in this news release are qualified bythese cautionary statements and those in our continuous disclosurefilings available on SEDAR at www.sedar.com.  These forward-lookingstatements are made as of the date hereof and the Company does notassume any obligation to update or revise them to reflect new eventsor circumstances save as required by applicable law.

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