Opawica Announces Acquisition of Golden Property
300 – 555 W . Georgia Street, Randall Building, Vancouver, BC Canada V6B 1Z6 T (604)681-3170, F (604)681-3552, [email protected] www.opawica.com
Opawica Announces Acquisition of Golden Property
March 13, 2012 (Marketwire Canada) --
Vancouver, British Columbia: Opawica Explorations Inc. (TSX.V: OPW) ("Opawica" or the "Company") is pleased to announce that is has reached an agreement to acquire a 100% interest in certain mineral claims in Ontario collectively known as the Golden Property, subject to a 2% net smelter royalty to be retained by the vendors (the “Transaction”).
As consideration for the claims the Company is to issue 3,000,000 common shares to the vendors. The Company has also agreed to pay the vendors a further $50,000 in circumstances where the Company raises a minimum of $1,000,000 by way of non flow through equity financing in the 12 months following the closing of the Transaction.
Closing remains subject to the acceptance of the TSX Venture Exchange.
The Golden Property is comprised of 91 units and 6 patents representing an area of 4 km by 3 km. It lies within the western portion of the Timmins gold camp and is about 9,500 m on strike from the Lake Shore Gold Corp. (LSG:TSX) Timmins Mine and Thunder Creek Zone.
FOR FURTHER INFORMATION CONTACT:
Donald (Dan) Clark Chairman Opawica Explorations Inc.
604-681-3170 [email protected]
Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this news release.
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