Opawica Announces Share Consolidation

Suite 488- 625 Howe Street, Vancouver, BC Canada V6C 2T6

T (604) 681- 3170, F (604) 681- 3552, [email protected]

www.opawica.com

OPAWICA ANNOUNCES SHARE CONSOLIDATION

Vancouver, British Columbia, February 15th, 2023 , (TSXV: OPW: FSE: A2PEAD) (OTCQB: OPWEF: (the

“Company” or Opawica”) announces that by a resolution of the Board of Directors of the Company passed

as effective February 1 5th, 20 23, the Directors have authorized t he consolidation of the issued and

outstanding common shares of the Company on a basis of one (1) new common sha re for every ten (10)

existing common shares (the "Share Consolidation"). Currently, there are 51,781,041 common shares issued

and outstanding and following the Share Consolidation, 5,178,104 common shares will be issued and

outstanding. It is anticipated that the Share Consolidation will be implemented as soon as practicable.

The Board of Directors is procee ding with the Share Consolidation on the basis that it will provide the

Company with increased flexibility to seek additional financing opportunities and strategic acquisitions. The

Share Consolidation is subject to the acceptance of the TSX Venture Exchan ge. The Company's name and

stock symbol will remain unchanged following the Share Consolidation.

About Opawica Explorations Inc.

Opawica Explorations Inc. is a junior Canadian exploration company with a strong portfolio of precious

and base metal propertie s 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.

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Forward-Looking Statements

This news release contains certain forward -looking statements, including the proposed share

consolidation, which relate to future e vents 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,

the receipt of necessary regulatory appro vals (which are further subject to minimum distribution

requirements). There is no guarantee that the Company will obtain the approval of the TSX Venture

Exchange for the consolidation, or that the consolidation will be completed at the ratio proposed or at all.

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.