Mr. Blake Morgan reports

OPAWICA EXPLORATIONS' BAZOOKA PROJECT: A KEY POTENTIAL ASSET IN ABITIBI GOLD RUSH

Opawica Explorations Inc. is pursuing ambitious growth objectives. With its 2025 exploration campaign at the Bazooka property already under way, Opawica is targeting 50-metre stepouts in areas where previous assays exceeded 10 grams per tonne gold. In doing so, the company aims to establish Bazooka as the next up-and-coming gold hot spot 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 $25-million. Additionally, Lac Gold granted Yorbeau a 2-per-cent net smelter return royalty on any minerals produced from the property.

Bazooka borders Lac Gold's Rouyn property directly to the west (Opawica's McWatters property borders Rouyn to the east).

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 tonnes at 6.08 grams per tonne gold containing 48,300 gold ounces. Inferred resources total 633,000 tonnes at 7.79 grams per tonne gold 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 grams per tonne gold over 5.8 metres;
• 7.70 grams per tonne gold over 20.5 metres;
• 25.77 grams per tonne gold over 7.5 metres;
• 7.86 grams per tonne gold over 17 metres;
• Historical high-grade intercept of 316.23 grams per tonne gold over one metre.

These historical results indicate Bazooka's potential -- especially with the property located on the 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 kilometres 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-term and long-term goals

With the 2025 drill program under way, the short-term goal for Opawica is simple: to execute the first phase (5,000 metres) of a planned 20,000-metre drill target 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 toward 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, chief executive officer Blake Morgan has become the company's largest shareholder, personally investing between $800,000 and $1-million. 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 $2,900 (U.S.) per ounce and with interest in emerging gold projects 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.

Yvan Bussieres, PEng, 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.

About Opawica Explorations Inc.

Opawica Explorations 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 Quebec. 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.

We seek Safe Harbor.