Opawica Explorations Inc. Amends Terms of Private Placement

1100 – 595 Howe Street, Vancouver, BC Canada V6 C 2T5 T (604) 681-3170, F (604) 681-3552, [email protected] www.opawica.com

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

OPAWICA EXPLORATIONS INC. AMENDS TERMS OF PRIVATE PLACEMENT

Vancouver, B.C. – May 26, 2020 – Opawica Explorations Inc. (the “Company”) (TSX.V: OPW) announces that it has amended the terms of the proposed non-brokered private placement originally announced on April 30, 2020. The original offering consisted of the issuance of up to 10,000,000 units at a price of $0.05 per unit for gross proceeds of up to $500,000. The amended offering consists of the issuance of up to 10,000,000 Common Shares of the Company (each, a “Share”) at a price of $0.05 per Share for gross proceeds of up to $500,000 (the “Offering”).

All Shares issued in connection with the Offering will be subject to resale restrictions, expiring beyond the customary statutory hold period of four months and one day after closing of the Offering. The Shares will be issued and represented by four certificates (or DRS statements) of equal amount, each with a different resale restriction endorsed thereon as follows: (i) one Share certificate will bear a legend expiring four months plus one day from the Closing Date; (ii) one Share certificate will bear a legend expiring twelve months from the Closing Date; (iii) one Share certificate will bear a legend expiring eighteen months from the Closing Date; and (iv) one Share certificate will bear a legend expiring twentyfour months from the Closing Date.

Completion of the Offering is subject to the approval of the TSX Venture Exchange. Any participation by insiders in the Offering will constitute a related party transaction under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (“MI 61-101”) but is expected to be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101.

The aggregate gross proceeds from the sale of the Offering will be used for project development, further work on the Company’s mineral projects, payment of trade payables and debt and working capital.

Finders’ fees may be payable in connection with the Offering in accordance with the policies of the Exchange.

None of the securities sold in connection with the Offering will be registered under the United States Securities Act of 1933, as amended, and no such securities may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

FOR FURTHER INFORMATION CONTACT:

Blake Morgan President and Chief Executive Officer Opawica Explorations Inc.

Telephone: 604-681-3170 Fax: 604-681-3552

• 2 -

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.

LEGAL_30607881.1