LegalDocs_5617586.1 Opawica Explorations Inc. and Hinterland Metals Inc. Enter into Agreement for Acquisition of Mineral Claims
300 – 555 W . Georgia Street, Randall Building, Vancouver, BC Canada V6B 1Z6 T (604)681-3170, F (604)681-3552, [email protected] www.opawica.com
OPAWICA EXPLORATIONS INC. AND HINTERLAND METALS INC. ENTER INTO AGREEMENT FOR ACQUISITION OF MINERAL CLAIMS
September 14, 2012 (Marketwire Canada) --
Vancouver, British Columbia: Opawica Explorations Inc. (TSX.V: OPW) ("Opawica") is pleased to announce that, subject to the acceptance of the TSX Venture Exchange, it has entered into an agreement (the “Agreement”) with Hinterland Metals Inc.
(TSXV: HMI) (“Hinterland”) where it has been granted an option (the “Option”) to acquire a 100% interest in 46 mineral claims located near Kirkland Lake in northeastern Ontario, collectively known as the Teck-Kirkland Property (the “Property”). Various of the claims are subject to certain underlying royalties and a portion of the Property is subject to a 2% NSR in favour of Hinterland, one-half of which can be purchased by Opawica for $1,000,000 within five years of the date the Agreement is accepted by the TSX Venture Exchange (the “Acceptance Date”).
In order to exercise the Option, Opawica is required to pay Hinterland a total of $125,000, issue it a total of 3,000,000 shares of Opawica (the “Shares”) and incur a total of $1,000,000 in work expenditures, all over a period expiring November 30, 2016. Of these amounts, $25,000 is to be paid and 150,000 of the Shares are to be issued forthwith following the Acceptance Date and the initial $125,000 of the work expenditures, to be incurred prior to November 30, 2013, constitutes a firm commitment of Opawica.
FOR FURTHER INFORMATION CONTACT:
Donald (Dan) Clark Chairman Opawica Explorations Inc.
604-681-3170 [email protected]
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.
LegalDocs_5617586.1