Opawica Explorations Announces Major Drilling Plans and Asset Development Strategy

Opawica Explorations Inc. CEO Blake Morgan outlined the company's progress and future plans in a shareholder update, emphasizing upcoming drilling programs and strategic asset development. The company has completed extensive groundwork and data review, positioning itself for significant exploration activities in 2026. With gold prices at record highs, Opawica's assets in Quebec's prolific Abitibi Gold Belt have attracted considerable industry interest.

The company's immediate focus centers on its 100% owned Arrowhead property, where it plans to drill 10,000 meters of high-priority targets. The property already has drill permits in place and is strategically located, fully surrounded by Agnico Eagle Mines Limited and contiguous to the La Rhonde Complex, one of Canada's premier gold mining operations. This positioning provides significant geological advantages and potential synergies with established mining infrastructure.

Opawica's accomplishments in 2025 include receiving drill permits for both the Arrowhead and Bazooka properties, identifying over 10,000 meters of high-priority drill targets on each property, and completing a drill program on the Bazooka property with promising results. The company was recognized as Gold Explorer of the Year for 2025 by Metals and Mining Magazine, highlighting its technical achievements and exploration success.

Significant technical work has been completed across both properties. On the Bazooka property, the company established a conceptual exploration target of 10-40 million tonnes grading between 0.9 to 1.45 grams per tonne gold, representing 1.5 to 2 million ounces of potential gold. This work builds on extensive data collection and analysis, including a 384-line-kilometer geophysical survey covering shear zones governing mineralization in the greenstone belt. The company has also engaged GoldSpot Discoveries Corp. for AI machine learning applications to enhance target identification.

Since 2021, Opawica has identified 59 high-priority drill targets on the Bazooka property and completed multiple drilling programs across its portfolio. The company has invested over $6 million in exploration activities, completed three drill programs, and raised substantial capital through private placements, including an oversubscribed offering that raised $5.28 million and an additional $2 million flow-through share offering. These financial resources support continued exploration and development activities.

The company's properties benefit from excellent infrastructure, including road access, water, and hydro-electric power, which helps keep exploration costs manageable. The strategic location within one of the world's most prolific gold-bearing regions, with multiple active mines within seven kilometers of Opawica's assets, provides significant exploration upside and potential development opportunities.

Looking forward, Opawica plans to commence drilling on the Arrowhead property with a contracted drill rig and initiate a Phase 2 drill program. The company is also exploring joint venture or sale options for its Bazooka property, seeking partnerships with industry leaders to advance the asset's development. These strategic moves aim to maximize shareholder value through focused exploration and potential asset monetization.

The company's management emphasizes their strong understanding of regional geology and mineralization patterns, gained through extensive work completed since 2021. This knowledge will guide the upcoming drilling programs and help optimize exploration efforts. Opawica maintains positive relationships with First Nations communities and local contractors, ensuring responsible development that benefits all stakeholders.

Technical information in the update was reviewed and approved by independent Qualified Person Yvan Bussieres, P.Eng., in accordance with National Instrument 43-101 standards. The company notes that exploration targets are conceptual in nature and require further work to define mineral resources. Forward-looking statements are qualified by cautionary language regarding market conditions, financing availability, and other risks detailed in continuous disclosure filings available on SEDAR at https://www.sedar.com.