Opawica Explorations Inc. Cancels Private Placement and Demobilizes Drill Program at Bazooka Property, Quebec
300 – 555 W . Geor gia Str eet, Randall Building, Vanc ouver, BC Canada V6B 1Z6
T (604)681- 3170, F ( 604) 681- 3552, [email protected]
www.opawic a.com
OPAWICA EXPLORATIONS INC. CANCELS PRIVATE PLACEMENT AND DEMOBILIZES
DRILL PROGRAM AT BAZOOKA PROPERTY, QUEBEC
Vancouver, B.C. – September 22, 2017 – Opawica Explorations Inc. (the “Company”) (TSX.V : OPW)
announces that the proposed private placement (the “Offering”) announced on August 15, 2017 and
September 11, 2017 will not proceed at this time due to an abatement of interest stemming from declining
gold prices, related weakness in the junior resource sector, and the Company’s current share structure.
In the absence of the Offering, the Company has dem obilized its drill program at the Bazooka property,
near Rouyn-Noranda, Quebec, that it announced on Au gust 15, 2017. The proposed drill program will
not proceed at this time.
There is significant activity in the immediate area of Opawica’s Bazooka property. Richmont Mines Inc.
announced on September 11, 2017 that it is selling its Wasamac gold property, situated on Opawica’s
north western border, to Monarques Gold Corporation . On September 17, 2017, Yorbeau Resources Inc.
(“Yorbeau”) announced that Kinross Gold Corporation (“Kinross”) has completed over 24,000 metres of
drilling on the Rouyn Property that is optioned by Kinross. The Rouyn Property is contiguous to the
eastern border of Opawica’s Bazooka property and th e Company’s McWatters property adjoins the
eastern border of Yorbeau’s Rouyn property and Granada Gold Mines Inc.’s land holdings.
The Company believes that the Bazooka and McWatters properties are excellent exploration prospects
and are well positioned, covering about seven kilometres of the Cadillac Larder Lake Break.
FOR FURTHER INFORMATION CONTACT:
Paul Antoniazzi
Managing Director
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 po licies of the TSX Venture
Exchange) accepts responsibility for the adequacy of accuracy of this news release.
Forward-looking Statements
Certain statements in this press release relating t o the Company’s exploration activities, project exp enditures and
business plans are approximate and are "forward-loo king statements" within the meaning of securities l egislation.
The Company does not intend, and does not assume an y obligation, to update these forward-looking state ments.
These forward looking statements represent manageme nt’s best judgment based on current facts and assum ptions
that management considers reasonable, including tha t operating and capital plans will not be disrupted by issues
such as adverse market conditions, mechanical failu re, unavailability of parts, labor disturbances, in terruption in
transportation or utilities, or adverse weather con ditions, that there are no material unanticipated v ariations in
budgeted costs, that contractors will complete proj ects according to schedule, and that actual mineral ization on
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properties may not achieve any category of resource (s). The Company makes no representation that reaso nable
business people in possession of the same informati on would reach the same conclusions. Forward lookin g
statements involve known and unknown risks, uncerta inties and other factors which may cause the actual results,
performance or achievements of the Company to be ma terially different from any future results, perform ance or
achievements expressed or implied by the forward-lo oking statements. In particular, fluctuations in the price of gold,
equity markets or in currency markets could prevent the Company from achieving its targets. Readers sh ould not
place undue reliance on forward-looking statements. There is no guarantee that drill results reported in this news
release or future releases will lead to the identif ication of a deposit that can be mined economically , and further
work is required to identify resources and reserves. We seek safe harbour.