Opawica Announces Yukon Massive Sulphide Project Acquisition,
Completion of Financing, and New Presi
(Thomson Reuters ONE) - November 6, 2009 News Release Opawica Announces Yukon Massive Sulphide Project Acquisition, Completion of Financing, and New President and CEOOpawica Explorations Inc. ("Opawica" / the "Company") announces:1. Yukon Massive Sulphide Bro ProjectThe Company has obtained regulatory consent and made the requiredpayment of 2,000,000 shares of the Company, under the Bro Propertyoption agreement, for the Company to acquire a 100% interest in the 4claim unit Bro Property located about 120 road kilometres southeastof Faro, Yukon Territory, Canada.The Bro Property is primarily a massive sulphide, silver, lead, zincprospect with exploration potential for gold and copper. Historicalwork on the property including surface work and diamond drilling,carried out by Noranda Mining Inc. between 1975 and 1979, and otheroperators to 1994, confirmed that the property hosts the above notedbase and precious metal mineralization.Several historical geological reports conclusion was to conduct moredrilling to determine the source of the+/- 40 meter wide massive gossan zone with high values of up to : 5.5 % copper, 34 % lead, 1.4 % zinc, 550 grams per tonsilver, and 2.7 grams per ton gold.Prior Noranda diamond drilling returned gold values as high as .33ounces (11 grams) per ton gold over 5.3 feet.Opawica paid a finder's fee of 150,000 shares in connection with theAcquisition.2. Completion of Private PlacementThe Company has also closed the private placement announced by theCompany on October 27, 2009. The placement consists of 1,600,000 FlowThrough Share ("FT") units at $0.05 per unit and 400,000 Non FlowThrough Share ("Non-FT") units at $0.05 per unit. Each unit of theabove placements is comprised of one FT or Non-FT share,respectively, and a half share purchase warrant attached to eachshare. One whole warrant entitles the holder to acquire one furtherNon-FT share of the Company at $0.10 per share for a two year termfor both placements.All securities issued in connection with the above privateplacements, the Acquisition and finder's fee are subject to a 4 monthhold period ending March 5, 2010.3. New CEO, President and DirectorFollowing the closing of the above transactions the Company hasappointed Mr. Michael Meyers as President, CEO and Director of theCompany.Mr. Meyers, Dipl. Tech. (BCIT), BA (Admin), Juris Doctor of Law, is acorporate and securities lawyer who is an officer and director ofseveral private and public companies.Mr. Meyers was one of the vendor's of the Company's recently acquiredYukon Bro Property, along with Shane Meyers and Robert (Bob)Moriarty.Mr. Meyers participated in acquiring 1,000,000 units (50%) of theabove private placements, with insider, Donald (Dan) M. Clarkacquiring the other 50%. Mr. Clark will now act as Chairman of theBoard of the Company.4. Diamond Drilling Planned to Expand Resources at 100 % owned AtikwaLake Gold ProjectThe Company has now initiated metallurgical test work and is planningresource upgrade diamond drilling on one of its gold projects, theAtikwa Lake Gold Project.The 100% owned Atikwa Lake Gold Project located in Ontario currentlyhas: total indicated resources of 78.088 million pounds of copper and215,000 ounces gold;plus, total inferred resources of 40.6 million pounds of copper and237,000 ounces gold.(* see NP 43-101 Technical Report by Robert Laakso, P.Eng. of Shaft &Tunnel Engineering Services, filed on SEDAR)FOR FURTHER INFORMATION CONTACT:Jon Samuda, Director604-681-3170Neither TSX Venture Exchange nor its Regulation Services Provider (asthat term is defined in the policies of the TSX Venture Exchange)accepts responsibility for the adequacy or accuracy of this release.The forgoing information may contain forward-looking statementsrelating to the future performance of the Company. Forward lookingstatements, specifically those concerning future performance, aresubject to certain risks and uncertainties, and actual results maydiffer materially. These risks and uncertainties are detailed fromtime to time in the Company's filings with the appropriate regulatoryauthorities. We seek safe harbour.This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 06.11.2009 - 19:46 Uhr
Sprache: Deutsch
News-ID 8072
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