Opawica Provides Default Status Report Per National Policy 12-203

3043 – 595 Burrard Street, Vancouver, BC Canada V7X 1L7 T (604) 681-3170, F (604) 681-3552, [email protected] www.opawica.com

Opawica Provides Default Status Report Per National Policy 12-203

Vancouver, B.C. – January 14, 2021 - Opawica Explorations Inc. (TSXV: OPW) (FSE: A2PEAD) (OTC: OPWEF) (the “Company” or “Opawica”) announces that further to its December 30, 2021 news release (the “Default Announcement”), its application for a management cease trade order (the “MCTO”) under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203”) was approved by the British Columbia Securities Commission (“BCSC”) as of December 30, 2021.

In the Default Announcement, the Company announced that it had filed an application seeking the MCTO from the BCSC because the Company was unable to file its annual financial statements for the year ended August 31, 2021, including the related management’s discussion and analysis and certifications from the CEO and CFO (the “Annual Filings”), prior to the filing deadline of December 29, 2021. The delay in filing the Annual Filings is due to unforeseen internal delays in the completion of the Company’s audit of its annual financial statements. The Company changed its auditor to Crowe Mackay LLP (“Crowe Mackay”) and continues to work diligently and expeditiously with Crowe Mackay to file the Annual Filings as soon as possible. The Company expects to file the Annual Filings on or before January 28, 2022.

The MCTO restricts all trading in securities of the Company by the Chief Executive Officer and Chief Financial Officer of the Company until the MCTO is no longer in effect. The MCTO will be in effect until the Annual Filings are filed and requires that they be filed on or before February 28, 2022.

The Company confirms that, other than as disclosed in prior press releases and material change reports, there have been no material business developments since the filing of the Company’s latest interim financial report.

The Company confirms that since the date of the Default Announcement: (i) there has been no material changes to the information set out in the Default Announcement that has not been generally disclosed; (ii) the Company is satisfying and intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203; (iii) there has not been any other specified default by the Company under NP 12-203; and (iv) there is no material information concerning the affairs of the Company that has not been generally disclosed.

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 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.