Opawica Explorations Inc.
TSX : OPW

Opawica Explorations Inc.

July 16, 2009 10:35 ET

Opawica Announces Additional Resource Estimates at the Atikwa Lake Copper-Gold Property and the Dingman Gold Property, Ontario

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 16, 2009) - Opawica Explorations Inc. ("Opawica" / the "Company")(TSX:OPW) announces updated resource estimates for the Atikwa Lake property near Kenora, Ontario and the Dingman gold property located about 100km northeast of the Greater Toronto area.

ATIKWA LAKE, ONTARIO - Au, Cu

The updated resources were derived from a database containing a further 3,617 m of drilling which is in addition to the 18,895m of drilling from 105 past holes used in resource estimates outlined in the March 25, 2009 SEDAR filed NI 43-101 report completed by Golder Associates Ltd. as so commissioned by the Company.

A total of 16 holes were drilled focusing on connecting the Maybrun Main Zone ("MMZ") to the Maybrun Footwall Zone ("MFW") as well as testing portions of the 600m gap that separates the Maybrun Main zones from the Maybrun North Zone ("MNZ"). Holes AT-09-01 to 15 were previously announced on April 29, 2009 and the final hole of the program is outlined below.



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Hole No. Section Target From (m) To (m) Width (m) Au g/t Cu%
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AT-09-16 1200 N Maybrun FW 164.00 258.00 94.00 0.12 0.178
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includ-
ing 167.00 173.00 6.00 0.13 0.445
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and 181.00 188.00 7.00 0.58 0.522
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includ-
ing 186.00 187.00 1.00 2.71 0.283
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also 203.00 204.00 1.00 0.61 2.610
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also 221.00 222.00 1.00 0.42 1.340
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also 252.00 258.00 6.00 0.25 0.136
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The updated resources are part of an open pit resource model extending from surface to up to 200m in vertical depth and using a 2:1 stripping ratio for the model. Mineralization remains primarily open to depth and to a lesser extent on strike. Other exploration targets also exist on the property separate from the Maybrun gold-copper zones.

The current resource estimates at Atikwa Lake are updated as follows:



----------------------------------------------------------------------------
Classifi- Cut-off Mineral Tonnes Au Cu Au Cu
cation Grade Zone (g/t) (%) (Oz) (lb)
Au Eq
(g/t)
----------------------------------------------------------------------------

Indicated 0.40 Maybrun 7,366,000 0.64 0.41 151,000 66,466,000
Main

----------------------------------------------------------------------------

0.40 Maybrun 1,738,000 1.15 0.30 64,000 11,622,000
Main (North-
end)

---------------------------------------------------------------

Inferred Maybrun
0.40 Footwall 5,400,000 0.94 0.18 163,000 21,696,000

---------------------------------------------------------------

Maybrun
0.40 North 3,454,000 0.67 0.25 74,000 18,921,000

----------------------------------------------------------------------------
Note: Tonnes, pounds and ounces are rounded to the nearest 1,000.


The result of the above updated mineral resources is an increase in the Inferred resource category only. The Indicated resources as detailed above have not changed from previous resource estimates. Compared to previous NI 43-101 resource estimates of March 25, 2009, total contained gold has increased by 26% and contained copper has increased by 28%.

Mineralization modeling and grade modeling work was done using Interdex version 8.0 software. The mineral resource estimate was based on drill hole spacing, continuity of data and the mining method proposed by Opawica's qualified person Mr. Robert Laakso, P. Eng. The inverse distance squared gridding method was used for resource estimation purposes. In addition the above resource estimates for Atikwa Lake were estimated using US$ metal prices of $750 per ounce for gold and $1.75 per pound for copper. A cut off grade of 0.40 g/t Au equivalent was used.

DINGMAN, ONTARIO - Au

The updated resources at Dingman were derived from a database containing a further 3,926m of drilling which is in addition to the past 72 holes that make up the resource estimates outlined in the March 25, 2009 SEDAR filed NI 43-101 report completed by Golder Associates Ltd. and Robert (Bob) Laakso, P.Eng. as commissioned by Opawica.

A total of 16 holes were drilled subsequent to original independent resource calculations detailed in the Company's February 10, 2009 news release. This recent drilling from surface focused on aggregate resources on strike in holes DI-09-06 to 13 from Line 350E to 750E and for further gold resources to depth. Holes DI-09-06 to 13 were primarily drilled for aggregate products and either were not assayed for gold or contained no significant gold values. Holes DI-09-01 to 05 were announced April 29, 2009 and holes DI-09-14 to 16 that were assayed for gold are outlined in the table below.



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Hole No. Section From (m) To (m) Width (m) Gold g/t
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DI-09-14 16 E 267.0 285.0 18.0 1.01
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including 274.0 281.0 7.0 1.74
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including 274.0 276.0 2.0 3.58
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including 275.0 276.0 1.0 5.69
----------------------------------------------------------------------------
304.0 307.0 3.0 0.66
----------------------------------------------------------------------------

----------------------------------------------------------------------------
DI-09-15 75 E 372.0 613.0 241.0 0.25
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including 451.0 452.0 1.0 2.38
----------------------------------------------------------------------------
and 503.0 613.0 110.0 0.36
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including 503.0 515.0 12.0 0.76
----------------------------------------------------------------------------
and 508.0 537.0 29.0 0.65
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and 533.0 548.0 15.0 1.06
----------------------------------------------------------------------------
including 533.0 536.0 3.0 3.42
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including 534.0 535.0 1.0 9.26
----------------------------------------------------------------------------
also 546.0 548.0 2.0 2.66
----------------------------------------------------------------------------
including 547.0 548.0 1.0 4.59
----------------------------------------------------------------------------
also 611.0 613.0 2.0 3.21
----------------------------------------------------------------------------
including 612.0 613.0 1.0 5.59
----------------------------------------------------------------------------

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DI-09-16 20 W 227.0 297.0 70.0 0.51
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including 227.0 256.0 29.0 0.96
----------------------------------------------------------------------------
including 227.0 229.0 2.0 2.51
----------------------------------------------------------------------------
and 249.0 256.0 7.0 3.12
----------------------------------------------------------------------------
including 252.0 255.0 3.0 6.60
----------------------------------------------------------------------------
including 254.0 255.0 1.0 17.69
----------------------------------------------------------------------------
331.0 336.0 5.0 0.41
----------------------------------------------------------------------------


Previously announced Hole DI-09-01, drilled to a vertical depth of about 575m, demonstrates that the Dingman gold zone widens to 131m of which an interval of 95m returned 1.00 g/t Au. The widening of the Dingman gold zone to depth was also confirmed by holes DI-09-15 and DI-09-05, drilled to 400m and 450m in depth, respectively. These holes confirm that the Dingman zone is open to depth.

The current resource estimates at Dingman are updated as follows:



----------------------------------------------------------------------------
Classification Cut-off Grade Au Tonnes Au (g/t) Au (oz)
(g/t)
----------------------------------------------------------------------------
Indicated 0.40 8,801,000 0.97 275,000
----------------------------------------------------------------------------
Inferred 0.40 11,301,000 0.98 355,000
----------------------------------------------------------------------------
Note: Tonnes and ounces are rounded to the nearest 1,000.


The result of the above updated mineral resources is an increase in the Inferred resource category only. The Indicated resources as detailed above have not changed from previous resource estimates. Compared to previous NI 43-101 resource estimate of March 25, 2009, total contained gold has increased by 52%.

Mineralization modeling and grade modeling work was done using Surpac version 6.1.2 software. The mineral resource estimate was based on drill hole spacing, continuity of data and the mining method proposed by Opawica's qualified person Mr. Robert Laakso, P.Eng. being an open pit bulk mining method estimated at a 3:1 stripping ratio and proposed ramp access using bulk tonnage underground mining methods with no stripping ratio being applicable. The inverse distance estimation method was used for resource estimation purposes. In addition, the above resource estimates for Dingman were estimated using US$ metal prices of $750 per ounce for gold. A cut off grade of 0.40 g/t Au was used.
The recent drilling of a further 7 holes of the 15 hole program, and all past drilling, has outlined a resource for aggregate products of 75,000,000 tonnes of Indicated Resource of granite and limestones (marble).

For both the Atikwa Lake property and the Dingman property, mineral resources which are not mineral reserves do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, metallurgy, and other relevant issues.

The quantity and grade of reported Inferred Mineral Resources for both Atikwa Lake and Dingman are uncertain in nature and there has been insufficient exploration to define these Inferred resources as an Indicated or Measured mineral resource and it is uncertain if further exploration will result in upgrading them to an Indicated or Measured mineral resource category.

The mineral resource estimates for both Atikwa Lake and Dingman were reviewed and approved by Robert Laakso, P.Eng., an independent qualified person and he has reviewed the contents of this release. In addition, the updated resource estimates for both properties in this press release were estimated by Mr. Laakso using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserve definitions referred to in the NI 43-101, Standards of disclosure for Mineral Projects.

All assaying for the Dingman and Atikwa Lake properties was carried out by Swastika Laboratories of Kirkland Lake, Ontario.

Updated technical reports for both Atikwa Lake and Dingman will be filed on SEDAR in accordance with NI 43-101 within 45 days from the date hereof.

Forward Looking Statements:

Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization, resources and expansion of resources, recoveries, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with mine permitting, metallurgy, development, construction and mining operations, the uncertainty of the determination of mineable ounces of gold and copper in pounds or other minerals in pounds, or the future profitability of the companies projects. We seek safe harbour.



Shares Issued: 37,156,868
Stock Options: 3,715,000 @ $0.06 to $0.11
Warrants: 8,056,000 @ $0.12 to $0.40
Restricted Shares: 6,125,000

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