Emerging gold producer and district-scale resource developer in Western Australia
(TheNewswire)
 | |||||||||
March 14 th 2025 TheNewswire - Vancouver, Canada – Opawica Explorations Inc. (the "Company" or "Opawica") (TSXV: OPW) (OTCQB: OPWEF), a Canadian mineral exploration company focused on precious and base metal projects, is pleased to announce that it intends to complete a non-brokered Private Placement (the "Private Placement") of up to 1,500,000 units of the Company ("Units") at a price of $0.20 per Unit for aggregate gross proceeds of up to $300,000.
Each Unit will consist of one common share of the Company and one Common Share purchase Warrant, with each Warrant exercisable into one Common Share at an exercise price of $0.30 per share at any time up to 24 months following the closing date of the Private Placement. The Company also maintains a Warrant Acceleration option allowing Opawica to accelerate the expiry date of the Warrants if the daily trading price of the Common Shares on the TSX Venture Exchange is greater than $0.42 per Common Share for the preceding 10 consecutive trading days. All securities issued under the Offering and including Warrants will be subject to a four (4) month holding period.
The Company intends to use the net proceeds to define and drill new exploration targets at its Arrowhead and Bazooka properties, general working capital and market awareness. The Private Placement remains subject to receipt of all required approvals, including the approval of the TSX Venture Exchange, as well as execution of formal documentation.
The qualified person has not verified the information on the adjacent properties and the information disclosed is not necessarily indicative of mineralization on the Opawica Projects.
About Opawica Explorations Inc.
Opawica Explorations Inc. is a junior Canadian exploration company with a strong portfolio of precious and base metal properties within the Rouyn-Noranda region of the Abitibi Gold Belt in Québec. 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
Telephone: 236-878-4938
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.
Forward-Looking Statements
This news release contains certain forward-looking statements, which relate to future events 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, but not limited to, market conditions, availability of financing, actual results of the Company's exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. 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.
Copyright (c) 2025 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
(TheNewswire)
 | |||||||||
March 13 th 2025 TheNewswire - Vancouver, B.C. Opawica Explorations Inc. (TSXV: OPW) (FSE: A2PEAD) (OTC: OPWEF) (the "Company" or "Opawica"), a Canadian mineral exploration company focused on precious and base metal projects in the Abitibi gold belt, is pursuing ambitious growth objectives. With its 2025 exploration campaign at the Bazooka Property ("Bazooka") already underway, Opawica is targeting 50-metre step-outs in areas where previous assays exceeded 10 gt Au . In doing so, the Company aims to establish Bazooka as the next up-and-coming gold hotspot in the Abitibi Gold Belt.
Although Opawica's market capitalization is only about $8.5 million (as of March 8, 2025) on a fully diluted basis, last year's Lac Gold (Rouyn) Inc.'s acquisition of Yorbeau Resources Inc.'s Rouyn property set the floor on valuation expectations in the immediate region. The deal was structured with a total purchase price of C$25 million. Additionally, Lac Gold granted Yorbeau a 2% net smelter returns royalty on any minerals produced from the property.
Click Image To View Full Size
As the maps below show, Bazooka borders Lac Gold's Rouyn Property directly to the west (Opawica's McWatters Property borders Rouyn to the east).
Click Image To View Full Size
The 2024 acquisition was driven by several strategic factors. Foremost, the Rouyn property boasts significant mineral resources with room for expansion. Furthermore, Quebec's Abitibi Gold Belt reputation as a world class gold-producing jurisdiction played a key role in Lac Gold's decision, offering stability, investor-friendly policies, and well-developed mining infrastructure.
With the Lac Gold Rouyn Property holding a total Measured and Indicated Resources are estimated at 247,000 t at 6.08 g/t Au containing 48,300 gold ounces. Inferred Resources total 633,000 t at 7.79 g/t Au for 158,800 gold ounces*. Bazooka has yet to establish the same historical pedigree as Rouyn at the time of its sale. However, historical drilling campaigns from 2003 to 2005, 2017 and more recently in 2021 to 2022 have revealed significant gold mineralization on the property, with notable intercepts, including:
77.18 g/t Au over 5.8 m
7.70 g/t Au over 20.5 m
25.77 g/t Au over 7.5 m
7.86 g/t Au over 17 m
Historical high-grade intercept of 316.23 g/t Au over 1 m
These historical results indicate Bazooka's potential—especially with the property located on Cadillac-Larder Lake Fault Zone. This proximity holds immense significance due to its high gold potential, proven geological setting, existing infrastructure, and strong investor interest. This fault has historically hosted some of the richest gold mines in Canada, and any property in this region generally benefits from enhanced exploration success rates and commercial viability.
Along the fault zone, Bazooka covers approximately seven kilometers of this prolific geological structure, which is associated with numerous gold deposits. This mineralized zone is spatially associated with its boundaries, indicating a direct relationship between the property's gold potential and its proximity to this major structural feature.
Short- and long-term goals
With the 2025 drill program underway, the short-term goal for Opawica is simple: to execute the first phase (5,000 m) of a planned 20,000 m drill targets campaign. The Company has already conducted airborne geophysics, downhole geophysics, induced polarization (IP) surveys, ground sampling, and a Phase 1 drill program to better understand the mineralization. The ultimate objective is to confirm and expand known mineralization and work towards an official resource estimate—just as Yorbeau Resources accomplished at Rouyn.
In the long run, Opawica believes that successful execution of its plan will unlock a significantly greater valuation. This sentiment is backed up by corporate actions. Since joining Opawica in 2020, CEO Blake Morgan has become the company's largest shareholder, . This commitment exemplifies his confidence in the company's trajectory and long-term prospects.
Fiscally, Opawica rests in a strong financial position to execute its plan after the Company raised $2.4 million between November and December 2024 bolstering its treasury for 2025. With gold prices exceeding US$2,900 per ounce and with interest in emerging gold projects is at an all-time high, the Company is positioned to drive strong shareholder value in 2025.
In the meantime, investors await the next round of assay results from Bazooka, expected to be reported in the spring of 2025. Positive results could suggest that Bazooka is poised to become the next major underexplored gold discovery in the Abitibi Gold Belt. To illustrate the significance, one needs to look no further than Lac Gold's Rouyn property, located directly to the east.
Mr.Yvan Bussieres, P.Eng., has reviewed and approved the technical content of this news release. * The Qualified Person has been unable to verify the information on the adjacent properties. Mineralization hosted on adjacent and/or nearby and/or geologically similar properties is not necessarily indicative of mineralization hosted on the Company's properties.
*Yorbeau Resources Inc. NI43-101 October 2011, on the Rouyn Property, Total Measured and Indicated Resources are estimated at 247,000 t at 6.08 g/t Au containing 48,300 gold ounces. Inferred Resources total 633,000 t at 7.79 g/t Au for 158,800 gold ounces (sedarplus)
About Opawica Explorations Inc.
Opawica Explorations Inc. is a junior Canadian exploration company with a strong portfolio of precious and base metal properties within the Rouyn-Noranda region of the Abitibi Gold Belt in Québec. 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
Telephone: 236-878-4938
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.
Forward-Looking Statements
This news release contains certain forward-looking statements, which relate to future events 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, but not limited to, market conditions, availability of financing, actual results of the Company's exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. 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.sedarplus.ca. 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.
Copyright (c) 2025 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
Quimbaya Gold Inc. (CSE: QIM) (OTCQB: QIMGF) (FSE: K05) ("Quimbaya Gold" or the "Company") is pleased to announce that the Company has executed the final payment of 4 contract concessions totalling 1624 hectares in the Tahami project area. The company was able to amend the last payment terms of these concessions from $200,000 USD to $135,000 USD.
"We are pleased that we were able to secure these important land packages with the final payments on our highly prospective Tahami area on amended terms that represented a 30% savings from the original last payments", stated Alexandre P. Boivin, President and CEO.
The company also announces that it has extended the expiry date of an aggregate of 1,589,344 outstanding warrants of which 1,241,070 warrants were issued in connection with the closing of a non-brokered private placement on June 5, 2024 (the "June Warrants") and 348,274 warrants were issued in connection with the closing of a non-brokered private placement on November 1, 2024 (the "November Warrants").
The initial exercise price of the June Warrants and the November Warrants is $0.75 and remains unchanged. The June Warrants have an original expiration date of June 5, 2025 and the November Warrants have an original expiration date of November 1, 2025. The Company proposes to extend the expiration date of the June Warrants and November Warrants by one additional year to June 5, 2026 and November 1, 2026, respectively (the "Amendment"). All other terms and conditions of the June Warrants and the November Warrants will remain unchanged.
The Amendment is subject to final Canadian Securities Exchange (the "CSE") approval, as applicable. No action will be required on the part of the holders of the June Warrants and the November Warrants to give effect to the Amendment. In accordance with the requirements of the CSE, the terms of any warrants issued as compensation warrants or as finder warrants are not eligible for amendment.
528,570 of the June Warrants and 153,600 of the November Warrants are owned by insiders of the Company, representing 42.6% and 44.1%, respectively, of the aggregate number of warrants. As a portion of the June Warrants and the November Warrants are held by insiders of the Company, the Amendment may constitute a "related party transaction" as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). A material change report will be filed with respect to the Amendment as it pertains to insiders. The Amendment are exempt from the formal valuation and minority shareholder approval requirements under MI 61-101 as neither the fair market value of the June Warrants and the November Warrants issued to insiders nor the cash consideration paid for such June Warrants and November Warrants exceeds 25% of the market capitalization of the Company.
About Quimbaya Gold
Quimbaya is active in the exploration and acquisition of mining properties in the prolific mining districts of Colombia. Managed by an experienced team in the mining sector, Quimbaya is focused on three projects in the regions of Segovia (Tahami Project), Puerto Berrio (Berrio Project), and Abejorral (Maitamac Project), all located in Antioquia Department, Colombia.
Contact Information
Alexandre P. Boivin, President and CEO apboivin@quimbayagold.com
Jason Frame, Manager of Communications jason.frame@quimbayagold.com
Quimbaya Gold Inc.
Follow on X @quimbayagoldinc
Follow on LinkedIn @quimbayagold
Follow on Instagram @quimbayagoldinc
Follow on Facebook @quimbayagoldinc
Cautionary Statements
This news release contains forward-looking statements and/or forward-looking information (collectively, "forward-looking statements") within the meaning of applicable securities laws. When used in this release, such words as "would", "will", "anticipates", believes", "estimates", "potential", "explores" "expects" and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Such forward-looking statements reflect the current views of the Company with respect to future events, and are subject to certain risks, uncertainties and assumptions. Many factors could cause the Company's actual results, performance or achievements to be materially different from any expected future results, performance or achievement that may be expressed or implied by such forward-looking statements. Certain information and statements contained in this news release constitute forward-looking statements, which reflects the Company's current expectations regarding future events, including but not limited: the initial depth of the Initial Drilling Campaign, if any; the successful completion of the Initial Drilling Campaign program and any future drilling under the initial contract, should they proceed, if at all; the ability of the Company to finance and execute its planned and future exploration activities; the quality of service and reputation of the Drilling Providers; the effectiveness of any potential drilling results in defining mineral resources or leading to a commercial discovery; the timing and process for the release of escrowed Consideration Units to the Drilling Providers; the anticipated cost of the Initial Drilling Campaign, if any, which may be subject to overruns; the receipt of regulatory approvals; the obligation for future updates as it relates to the Initial Drilling Campaign or future campaigns; and the initial and the overall success and advancement of the Company's projects.
Forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: the high degree of uncertainties inherent to feasibility and economic studies which are based to a significant extent on various assumptions; variations in commodity prices and exchange rate fluctuations; variations in cost of supplies and labour; lack of availability of qualified personnel; the quality of word provided by the Drilling Providers, if any; the receipt of necessary approvals; availability of financing; uncertainties and risks with respect to exploration and drilling; general business, economic, competitive, political and social uncertainties; certainty that finalized the commercial agreements will be successfully executed; risk of costs overruns with the Initial Drilling Campaign or future campaigns, if any, assurance that the final terms will align with those initially agreed upon or that the Initial Drilling Campaign will proceed as anticipated; timelines for drilling, if at all; obtaining required approvals of regulatory authorities; ability to access sufficient capital from internal and external sources; any assurances that the Company's stock price will appreciate or maintain its current value; and the fact that the transaction will result in dilution to the Company's existing shareholders, which may impact the market value of their holdings. The Company cautions that there is no guarantee that the planned Initial Drilling Campaign, if commenced, will yield successful results, identify mineral resources, or lead to further exploration or development. Exploration activities are inherently speculative, and drilling results may be inconclusive, insufficient, or unfeasible for further development. The cost estimates provided are subject to change, and the ability of the Company to continue exploration depends on factors such as market conditions, commodity prices, regulatory approvals, and access to additional funding. Additionally, the issuance of Consideration Units as compensation may remain subject to regulatory and exchange final approval, and there is no assurance that such approval will be obtained. The securities issued in connection with this transaction may be subject to resale restrictions under applicable securities laws and CSE policies. For a more fulsome additional list of risk factors please see the Company's December 31, 2023, year-end Management Discussion and Analysis ("MD&A"), 2024 third-quarter MD&A, available of SEDAR+ at www.sedarplus.ca.
Management of the Company has included the above summary of assumptions and risks related to forward-looking statements provided in this release in order to provide shareholders with a more complete perspective on the Company's current and future operations and such information may not be appropriate for other purposes. The Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements included in this news release should not be read as guarantees of future performance or results. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements, except in accordance with applicable securities laws.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction.
Neither CSE nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/244410
News Provided by Newsfile via QuoteMedia
