Opus One Renegotiates Its Fecteau Property Deal and Reiterates Its Confidence IN the Exploration Potential of the Project FOR GOLD.
2075 Victoria, #220
St Lambert, Québec, J4S 1H1
Tel: (514) 591-3988
NEWS RELEASE
October 15th, 2020 Trading Symbol: OOR-V
OPUS ONE RENEGOTIATES ITS FECTEAU PROPERTY DEAL AND REITERATES
ITS CONFIDENCE IN THE EXPLORATION POTENTIAL OF THE PROJECT FOR
GOLD.
MONTREAL, QC - OPUS ONE Resources Inc. (the “Company” or “OPUS ONE”) – (TSX
Venture Exchange: OOR ), is pleased to announce that it has successfully amended the original
option agreement on the Fecteau property in order to give the Company more time to complete its
exploration effort on this strategically located property. For more details, see news release dated
from June 27th, 2016.
The Fecteau property consists of 84 claims, located in the Urban -Barry greenstone belt, some 25
km to the east of Osisko’s Windfall deposit. It covers approximately 10 km of an east-west striking
felsic volcanic package ending at both ends with a fold. Although the felsic package is of interest
for base metal exploration (based on numerous gossans along the top of the unit) , the overall
environment, including the two folds at both ends of the felsic pac kage, is particularly favorable
for gold deposits.
In recent years, Opus One completed two programs of till sampling as well as lithogeochemica l
sampling, prospecting, trenching and limited drilling on a narrow quartz vein found at surface.
Results are pending from the laboratory for the lithogeochemical sampling program. However,
partial results are available for the till sampling programs. These programs outlined four gold target
areas that have not been explored by drilling yet . These four unexplored gold targets are clearly
significant and more exploration, in the form of ground geophysics and drilling, are planned for
the coming year. The gold anomalies in the till (chemical analysis and gold counts) compare
advantageously in intensity and quality with other anomalies associated with known depos its in
the Abitibi and James Bay.
Based on these highly positive results, the Company decided to present to the property owners a
proposition to amend the initial agreement in order to give the Company more time to complete
its exploration effort. Under the amendment, the Company has agreed to pay the property owners
an amount of $50,000, half of which is payable in common shares of the Company at a deemed
price of $0.08 per share (312,500 common shares) , as consideration for the amendment.
Furthermore, as per the amendment, the Company now has until December 31, 2023 to acquire a
100 % interest in and to the Fecteau Property by completing its remaining payment and exploration
expenditure obligations under the option agreement. As such, the C ompany’s remaining option
payments total $250,000 (of which an amount of $75,000 is payable on or before January 31, 2021)
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and exploration expenditures commitments total $500,000 (of which an amount of $150,000 is to
be incurred on or before December 31, 2021) . Also, the parties have agreed that 50% of the
remaining option payments to be completed by the Company under the option agreement, as
amended, shall be payable in common shares of the Company at a price per share equal to the
closing price of such shares on the TSX Venture Exchange (the “Exchange”) on the trading day
immediately before the date of issuance, subject to the minimum price allowed by the policies of
the Exchange (for a maximum of 2,500,000 common shares which may be issued under the
amendment). All shares issued by the Company under the amendment shall be subject to a
regulatory hold period of four months and one day from the date of issuance. The amendment
remains subject to the approval of the Exchange.
About OPUS ONE Resources Inc.
Opus One Resources I nc. is a mining exploration company focused on discovering high quality
gold and base metals deposits within strategically located properties in proven mining camps, close
to existing mines in the Abitibi Greenstone Belt, north-western Quebec and north-eastern Ontario
- one of the most prolific gold mining areas in the world. Opus One holds assets in Val -d'Or,
Matagami and Chibougamau areas . The Bachelor Extension property is adjacent to the Bonterra
Resources Bachelor gold mine, the Vezza Extension and Vezza North properties are located a few
kilometers west and north of the Vezza mine, which until recently was in production by Nottaway
Resources Inc. private company. The Noyell property is located a few kilometers east of the Vezza
mine. The Courville property is located east of Val D’Or. Opus One has also optioned a property
that is easily accessible by a good roads network, the Fecteau property, located in the Urban-Barry
township which is host to the Windfall Lake deposit and whic h is currently under intense
development work by Osisko Mining and several other exploration companies.
Pierre O’Dowd, P. Geo, [Independent Consulting geologist] acts as a Qualified Person as defined
in National Instrument 43- 101- Standards of Disclosure for Mineral Projects and has reviewed
and approved the technical information in this press release.
Forward-Looking Statements
This news release contains statements that may constitute "forward -looking information" within
the meaning of applicable Canadian securities legislation. Forward -looking information may
include, among others, statements regarding the future plans, costs, objectives or performance of
OPUS ONE, or the assumptions underlying any of the foregoing. In this news release, words such
as "may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan",
"estimate" and similar words and the negative form thereof are used to identify forward- looking
statements. Forward-looking statements should not be read as guarantees of future performance or
results, and will not necessarily be accurate indications of whether, or the times at or by which,
such future performance will be achieved. No assurance can be given that any events anticipated
by the forward- looking information will transpire or occur, including the development of the
Fecteau Property and what benefits OPUS ONE will derive therefrom. Forward -looking
information are based on information available at the time and/or management's good-faith belief
with respect to future events and are subject to known or unknown risks, uncertainties, assumptions
and other unpredictable factors, many of which are beyond OPUS ONE ’s control. These risks,
uncertainties and assumptions include, but are not limited to, those described under "Risk Factors”
in OPUS ONE’s management discussion and analysis for the last interim financial statements for
the quarter ended May 31, 2020, a copy of which is available on SEDAR at www.sedar.com, and
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could cause actual events or results to differ materially from those projected in any forward-
looking statements. OPUS ONE does not intend, nor does OPUS ONE undertake any obligation,
to update or revise any forward- looking information contained in this news release to reflect
subsequent information, events or circumstances or otherwise, except if required by applicable
laws.
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.OpusOneResources.com
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