Opus One GOLD Announces Assignment of Interest ON Fecteau Property
2075 Victoria, #220
St Lambert, Québec, Canada, J4S 1H1
Tel: (514) 591-3988
NEWS RELEASE
November 22, 2022 Trading Symbol: TSX-V: OOR
OPUS ONE GOLD ANNOUNCES ASSIGNMENT OF INTEREST ON
FECTEAU PROPERTY
NOT FOR DISTRIBUTION TO U.S NEWSWIRE SERVICES OR FOR DISSEMINATION
IN THE UNITED STATES
MONTREAL, QC - OPUS ONE Gold Corp . (the “Company” or “OPUS ONE”) – (TSX
Venture Exchange: OOR), announces that it has entered into an assignment and
assumption agreement dated November 21, 2022 (the “Assignment Agreement”) among
Clarity Gold Corp (“Clarity”) and the two original optionors (the “Optionors”) pursuant to
which the Company has obtained the option to acquire a 100% interest (the “Option”) in
the property known as the Fecteau Property located in the Province of Quebec (the
“Property”). Pursuant to the Assignment Agreement, Opus One has assigned all of its
rights and obligations with respect to a property option agreement dated June 20, 2016,
as amended September 29, 2020 (the “Original Option Agreement”) to Clarity to acquire
a 100% interest in the Property.
Highlights of the Fecteau Property
• 30km east of Osisko Mining’s Windfall Lake Project and Bonterra Resources’
Gladiator Project (Figure 1).
• 9 mineral showings including:
o Lac Fecteau Est: 2.42g/t Au over 2.65m, 1.82 g/t Au over 4.9m in drill core
o Buteux-Marceau: up to 4.11 g/t Au in grab samples
o Lac Pistolet: up to 1.08 g/t Au and 1.91% Cu in grab samples
o Desgagné: up to 1.00 g/t Au in a trench over massive sulphide
o Lac Fecteau Nord: 1.71 g/t Au over 1.5m in drill core
o Lac Fecteau Porphyry: up to 7.09 g/t Au in grab samples
• 5 new exploration targets generated from till sampling, some of which have been
followed up with an IP survey.
“With Osisko and Bonterra’s continued successes on this trend and the overarching tenure
of gold in the Abitibi as a whole, we are excited to continue our exploration in the belt and
this project shows the mineralization, alteration and structural complexity that we look for.”
Stated James Rogers, CEO “We a re excited to get to work advancing the targets Opus has
diligently worked to define.”
The Fecteau Property
• The property consists of one claim block containing 107 claims for a total of 5,979.02
hectares in the Urban-Barry Windfall mining district.
• The property is known to host two types of mineralization: VMS (Cu -Zn-Au) and
mesothermal gold. Both styles of mineralization will be targeted during the Company’s
program.
• VMS targets are represented in the field by numerous gossans of semi-massive to massive
sulphides located along and near an east-west trending rhyolite-dacite contact observed
over 10 km of strike. Past drilling near surface intersected anomalous copper- zinc
intervals associated with anomalous gold.
• Mesothermal gold bearing quartz veins are observed at both ends of the property
(western and eastern portions) where the volcanic sequence is folded. East-west striking
metric wide shear veins developed parallel to the axial plan of the folds. This drilling
program will target potential dow n dip or down plunge extensions of the known
mineralization.
About the Assignment Agreement
As consideration for the Option, the C larity has agreed to pay Opus One a cash payment
of $60,000, payable within 15 days of the date of the Assignment Agreement.
Pursuant to the Assignment Agreement, the Clarity will assume all obligations of Opus
One under the Original Option Agreement to acquire the Property including, but not
limited to, making certain payments of cash and issuances of common shares in the
capital of Clarity (each, a “ Clarity Share ”) to the Optionors and incurring certain
exploration expenditures on the Property as follows:
Date Payments ($CAD) Share Issuances Exploration
Expenditures
On or before
December 31, 2022 - - $180,880
On or before
January 31, 2023 $37,500 $37,500 worth of
Clarity Shares -
On or before
December 31, 2023 $12,500 $12,500 worth of
Clarity Shares $200,000
The Clarity Shares will be issued at a price per Clarity Share equal to the closing price of
such Clarity Shares the Canadian Securities Exchange (the “ CSE”) on the trading day
immediately before the date of issuance, subject to applicable securities laws and the
policies of the CSE.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy
or accuracy of this release.
For more information, please contact:
Louis Morin, CEO & Director
T (514) 591-3988
Michael W. Kinley, CPA, CA
President, CFO & Director
T (902) 826-1579
F (902) 826-2550
C (902) 402-0388
Visit Opus One’s website: www.OpusOneGold.com