Opawica Explorations Inc. Closes 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

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OPAWICA EXPLORATIONS INC. CLOSES PRIVATE PLACEMENT

Vancouver, B.C. – June 15, 2020 – Opawica Explorations Inc. (the “Company”) (TSX.V: OPW) is pleased to announce that it has closed a non-brokered private placement of 3,610,000 Common Shares of the Company (each, a “Share”) at a price of $0.05 per Share for gross proceeds of $180,500 (the “Offering”), further to the Company’s news release of May 26, 2020.

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 (October 16, 2020); (ii) one Share certificate will bear a legend expiring twelve months from the Closing Date (June 15, 2021); (iii) one Share certificate will bear a legend expiring eighteen months from the Closing Date (December 15, 2021); and

(iv) one Share certificate will bear a legend expiring twenty-four months from the Closing Date (June 15, 2022).

The proceeds from 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.

No finders’ fees were paid in connection with the Offering.

Crest Resources Inc. (“Crest”) subscribed for 1,000,000 common shares; Michael Collins, the President and CEO of Crest, subscribed for 400,000 common shares; and Garry Stock, a director of Crest, subscribed for 500,000 common shares both directly and indirectly. Sandra Wong, the CFO of the Company, is also the corporate secretary for Crest. Philippe Havard, a director of the Company, also subscribed for 100,000 common shares. This participation constitutes a “related party transaction” for the purposes of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company is relying upon exemptions from the requirement to obtain a formal valuation and seek minority shareholder approval for the Offering on the basis that the fair market value of the participation by related parties in the Offering is less than 25% of the Company’s current market capitalization.

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

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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.