Opawica Files for Drill Permits on its Arrowhead Property in the Abitibi Gold Belt

On behalf of Opawica Explorations Inc.

Vancouver, B.C. – October 24th, 2024 – Opawica Explorations Inc. (TSXV:OPW) (FSE:A2PEAD) (OTC:OPWEF) (the “Company” or “Opawica”) Opawica Explorations Inc. has commenced the drill permitting process on its recently identified 25 high-property gold targets at the Arrowhead Property of the Abitibi gold camp. The application includes 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.

“We look forward to embarking on an aggressive drill program on the Arrowhead Property once permitting has been granted,” said CEO Blake Morgan. “We are eager to unlock the potential of this highly prospective property and build on the rich mining history of the region. With millions of dollars spent on exploration since 2021. The team feels this drill program could be a game changer for the company, we have such a wealth of data, and our understanding of the structure is much more advanced.”

The 25 drill targets were done in collaboration with ALS GoldSpot Discoveries Ltd. and Opawica. The team integrated various drillhole recent and legacy datasets, including geological, structural, alteration, mineralogical, geochemical, and 2D seismic data information which have provided a deeper insight into Arrowhead ‘s geology. The interpretation of this updated drillhole database led to a cohesive 3D model/geological model, fault network, and ore body model which has provided the foundation for a drilling exploration strategy at Arrowhead Property.

One of the most prolific gold mining regions of the Cadillac Fault lies immediately east of the Arrowhead Project. Most ore bodies* in the area plunge steeply to the west and may serve as a guide for deep exploration below known showings and gold deposits situated along and around the Cadillac Fault. The Arrowhead Project lies in Blake River Group metavolcanites similar to those of large gold mines to the east, such as Mouska (7.9 km)*, MicMac (9.0 km)*, Mooshla (10.0 km)* and Doyon (11.3 km)*.

First prospecting started in 1920 on the major shear zone located in the northern part of the property. In 1926 the exploration works consisted 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 g/t were obtained over appreciable widths.

M. Yvan Bussieres, P.Eng., is the Qualified Person for Opawica Explorations Inc. 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.

About Opawica Explorations Inc.

Opawica Explorations Inc. 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 Québec. 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.

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6) This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management's expectations regarding Opawica Explorations Inc.’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to Opawica Explorations Inc.’s industry; (b) market opportunity; (c) Opawica Explorations Inc.’s business plans and strategies; (d) services that Opawica Explorations Inc. intends to offer; (e) Opawica Explorations Inc.’s milestone projections and targets; (f) Opawica Explorations Inc.’s expectations regarding receipt of approval for regulatory applications; (g) Opawica Explorations Inc.’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) Opawica Explorations Inc.’s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute Opawica Explorations Inc.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) Opawica Explorations Inc.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) Opawica Explorations Inc.’s ability to enter into contractual arrangements with additional parties; (e) the accuracy of budgeted costs and expenditures; (f) Opawica Explorations Inc.’s ability to attract and retain skilled personnel; (g) political and regulatory stability; (h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (i) changes in applicable legislation; (j) stability in financial and capital markets; and (k) expectations regarding the level of disruption to as a result of CV-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of Opawica Explorations Inc. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) Opawica Explorations Inc.’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact Opawica Explorations Inc.’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing Opawica Explorations Inc.’s business operations (e) Opawica Explorations Inc. may be unable to implement its growth strategy; and (f) increased competition.

Except as required by law, Opawica Explorations Inc. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does Opawica Explorations Inc. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither Opawica Explorations Inc. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document.

7) Any graphs, tables or other information demonstrating the historical performance or current or historical attributes of Opawica Explorations Inc. or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of Opawica Explorations Inc. or such entities and are not necessarily indicative of future performance of Opawica Explorations Inc. or such entities.

8) The technical information contained in articles and videos produced for this campaign has been reviewed and approved by Mr. Yvan Bussieres, P. Eng, at Opawica Explorations Inc. as the Qualified Person for the Company as defined in National Instrument 43-101.

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Opawica Files for Drill Permits on its Arrowhead Property in the Abitibi Gold Belt

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