Opawica Explorations Inc. Increases Offering To $5 Million

- June 1st, 2021

Opawica Explorations Inc. is  pleased to announce that due to tremendous investor interest, the Company has increased the size of its  private placement first announced on May 12, 2021 from $4,000,000 to $5,010,500.

Opawica Explorations Inc. (the “Company”) (TSX.V: OPW) is  pleased to announce that due to tremendous investor interest, the Company has increased the size of its  private placement (the “Offering”) first announced on May 12, 2021 from $4,000,000 to $5,010,500. The  Company anticipates that it will sell 8,363,750 non flow-through units (“NFT Units”) priced at $0.40 for  gross proceeds of $3,345,500 and 3,330,000 flow-through units (“FT Units”) priced at $0.50 for gross  proceeds of $1,665,000. Each NFT Unit consists of one common share and one-half of one share  purchase warrant, with each whole warrant exercisable into one further common share at a price of $0.60 for a term of two years. Each FT Unit consists of one flow-through common share and one half of one  share purchase warrant, with each whole warrant exercisable into one further common share at a price of  $0.60 for a term of two years.  

The Company closed the First Tranche of the Offering on May 31, 2021 for gross proceeds of $3,129,500  and expects to close the Final Tranche of the Offering on June 4, 2021. The Offering is subject to the  acceptance of the TSX Venture Exchange. 

About Opawica Explorations Inc. 

Opawica is a Canadian mineral exploration company with a strong portfolio of precious and base metal  properties within the Rouyn-Noranda region of the Abitibi gold belt in Quebec and in Central  Newfoundland and Labrador. The Company’s management has a great 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 

Disclaimer for Forward-Looking Information  

This news release includes certain “forward-looking statements” under applicable Canadian securities legislation that are not  historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results,  performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking  statements. Forward-looking statements in this news release include, but are not limited to, statements with respect to the  expectations of management regarding the proposed Offering, the expectations of management regarding the use of proceeds of the Offering, closing conditions for the Offering, and Exchange approval of the proposed Offering. Although the Company  believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such  expectations will prove to be correct. Such forward-looking statements are subject to risks and uncertainties that may cause actual  results, performance or developments to differ materially from those contained in the statements including that: the Company  may not complete the Offering on terms favorable to the Company or at all; the Exchange may not approve the Offering; the  proceeds of the Offering may not be used as stated in this news release; the Company may be unable to satisfy all of the  conditions to the Closing; and those additional risks set out in the Company’s public documents filed on SEDAR at  www.sedar.com. Although the Company believes that the assumptions and factors used in preparing the forward-looking  statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news  release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by  law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of  new information, future events, or otherwise. 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX  Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. 

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