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Opawica Explorations Inc. Announces Charter Membership in Newfoundland.Gold Strategic Alliance Group

03.05.2021  |  The Newswire
Vancouver, May 3, 2021 - Opawica Explorations Inc. ("Opawica" or the "Company") (TSXV:OPW) is pleased to announce it has joined a founding membership in the Newfoundland.Gold Strategic Alliance Group.

Newfoundland.Gold is a strategic alliance of Newfoundland-focused precious metal exploration companies that is collectively committed to bringing awareness to the emerging gold district. The Alliance is focused on creating innovative capital attraction initiatives to promote and inform the investor of Newfoundland.Gold member companies.

Newfoundland.Gold will launch an online event from June 1 to 3, 2021, featuring Virtual Investor Days. This daily online event will include Member corporate presentations moderated by industry thought-leaders. Registration for Virtual Investor Days will open in May 2021. For details and to register, please visit www.newfoundland.gold.

The Province of Newfoundland and Labrador is experiencing a modern-day gold rush, as a top ranked exploration and mining jurisdiction. Mining is one of Newfoundland and Labrador's largest and oldest industries and a major contributor to the economy. Newfoundland's mining history dates back centuries and is well known for its location for international transportation.

"We are excited to be a founding member of the Newfoundland.Gold Alliance. As Newfoundland gold discoveries continue to grow, Opawica Explorations Inc. intends to be in the forefront. This alliance is key as we move towards our 2021 exploration season in Newfoundland," states Blake Morgan, CEO of Opawica.

The Company holds a strong portfolio of gold properties in Newfoundland and Labrador, including the Enterprise, Lil d'Espoir Lake, Chapel Island, Density, Eclipse and Mass projects, which total approximately 390 km2 within Central Newfoundland.

The Founding Member Companies

Newfoundland.Gold is an alliance established by industry leaders in Newfoundland and Labrador's gold exploration and mining sector. The alliance is open to all companies operating projects in Newfoundland and Labrador. The founding members include:

Opawica Explorations Inc. TSXV: OPW

New Found Gold Corp. TSXV: NFG OTC: NFGFF

Exploits Discovery Corp. CSE: NFLD OTC: NFLDF

Labrador Gold Corp. TSXV: LAB OTC: NKOSF

K9 Gold Corp. TSXV: KNC OTC: WDFCF

Leocor Gold Inc. CSE: LECR OTC: LECRF

C2C Gold Corp. CSE: CTOC OTC: CTCGF

Sky Gold Corp. TSXV: SKYG OTC: SRKZF

Rogerson Structural Gold Corridor Newfoundland

The Company has assembled a group of structurally controlled gold property targets in Newfoundland. These types of gold mineralization represent the most economically significant for gold found in Canada.

Newfoundland's Rogerson Structural Corridor gold district occurs within a northeast-trending structural corridor defined by crustal-scale faults extending forms southwestern to north-central Newfoundland. The Rogerson Lake Conglomerate characterizes the structural corridor. The presence of conglomerate reflects preservation of syn-orogenic upper crustal clastic sequences commonly associated with orogenic gold vein systems. The largest known gold resource along this corridor occurs on Marathon Gold Corporation's Valentine Lake property. Marathon Gold Corporation's April 15, 2021 NI43-101 Feasibility Study, Valentine Lake project has estimated Proven and Probable Mineral Reserves of 2.10 Moz (Proven 29.7 Mt at 1.46 g/t Au Probable 17.4.7 Mt at 1.17 g/t Au) and Total Measured and Indicated Mineral Resources (inclusive of the Mineral Reserves) of 3.13 Moz (Measured 32.0 Mt at 1.79 g/t Au and Indicated 23.4 Mt at 1.52 g/t Au ). Additional Inferred Mineral Resources are 1.64 Moz (26.5 Mt at 1.52 g/t Au) *. Recent exploration by Antler Gold Inc. on previously unexplored property in the Wilding Lake area, adjacent to the northeast corner of the Valentine Lake property, exposed a system of gold-bearing quartz veins hosted by syn-orogenic sedimentary rocks, felsic volcanic rocks and volcaniclastic rocks.

The Company is in the process of developing a structural model for its 2021 exploration program on the Density, Mass, and Eclipse Properties.

*The qualified person has not verified the information on Marathon Gold Corporation's Valentine Lake property and the information disclosed is not necessarily indicative of mineralization on the Company's properties that are the subject of this press release. Mineralization hosted on adjacent and/or nearby and/or geologically similar properties is not necessarily indicative of mineralization hosted on the Company's properties.

Mr. Derrick Strickland, P.Geo. is the Qualified Person as defined by NI 43-101 and has reviewed and approved the technical content of this news release.

About Opawica Explorations Inc.

Opawica Explorations Inc. is a Canadian mineral exploration company with a strong portfolio of precious and base metal properties within the Rouyn-Noranda region of the Abitibi Gold Belt in Québec and in Central Newfoundland and Labrador. The Company's management has a great track 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.

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 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

This news release contains certain forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of the Company's exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.

Copyright (c) 2021 TheNewswire - All rights reserved.


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