Opawica Explorations Inc.
TSX : OPW

Opawica Explorations Inc.

July 14, 2008 08:11 ET

Opawica Explorations Inc. Announces Atikwa Lake Results and Project Updates

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 14, 2008) - Opawica Explorations Inc. ("Opawica" / the "Company") (TSX:OPW) announces the following drill hole results from the Atikwa Lake property located near Kenora, Ontario, and other company developments.

ATIKWA LAKE PROPERTY

Opawica Explorations Inc. has completed 68 holes on the Atikwa Lake Property under the current 2008 drilling program. The first 12 holes were released by the Company on May 8, 2008. Opawica is now reporting on an additional 25 holes to include holes AT-08-013 to AT-08-037 inclusive as shown in table No. 1 below. In addition, the Company is also reporting on holes OPW-30 to OPW-35, drilled in 2006-07 on the Northern Gold-Copper Zone located about 800m north of the Maybrun deposit. This additional assaying has now been completed and is outlined in table No.2 below. Assay results are pending on 31 further holes and drilling is ongoing.

Hole Nos. AT-08-015, 16, 17, 19, 20, 22, 23, 25 and 26 were drilled to test induced polarization anomalies, outside of the Maybrun deposit.

Hole Nos. AT-08-018, 21, 24, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36 and 37 were drilled in the Maybrun Deposit as in fill drilling in addition to past drilling on the deposit. Some of these holes intersected gold and copper mineralization effectively at surface. Hole No. AT-28 on section 835N returned values of 0.46 g/t Au and 0.51% Cu over a width of 47.1m from 2.5m to 49.6m; hole No. AT-30 on section 940N assayed 0.70 g/t Au and 0.52% Cu over a width of 40m from 3m to 43m; hole No. AT-32 on section 910N assayed 0.39 g/t Au and 0.896% Cu over a width of 40.25m from 2.75m to 43m including 0.83 g/t Au and 4.363% Cu over a width of 3.25m between 2.75m to 6m in depth; hole No. AT-33 on section 850N assayed 0.55 g/t Au and 0.52% Cu over a width of 68.7m from 2.3m to 71m; hole No. AT-34 on section 865N assayed 0.51 g/t Au and 0.54% Cu over a width of 42.7m from a deeper interval of 64.3m to 107m. The mineralization consists of chalcopyrite and pyrrhotite with gold in pillowed flow basalt. All of the mineralized drill intercepts vary between 70-90% of approximate true width.

Hole Nos. AT-08-013, 14 were drilled in the Northern Gold-Copper Zone which is similar to and 800m north of the Maybrun Zone and has potential as another open pit zone. Hole No. AT-08-013 on section 2100N returned an assay of 0.49 g/t Au and 0.015% Cu over a width of 46.1m from 64.5m to 110.6m; hole No. OPW-07-35 on section 1950N assayed 0.95 g/t Au and 0.14% Cu over a width of 40m from 69m to 109m; hole No. OPW-06-31 on section 2000N assayed 1.23 g/t Au and 0.20% Cu over a width of 69m from 56m to 125m. Additional drilling is required on this northern zone.


Table 1: Assay Results Received For Opawica 2008 Drilling - Atikwa Project



----------------------------------------------------------------------------
From To Width Gold (g/t)
Hole No. Section Target (m) (m) (m) Cut to
30 g/t Uncut Cu%
----------------------------------------------------------------------------
AT-08-013 2100 N IP 64.50 110.60 46.10 0.49 0.49 0.146
----------------------------------------------------------------------------
North Z. Including 64.50 65.00 0.50 3.05 3.05 0.109
----------------------------------------------------------------------------
And 88.90 96.00 7.10 0.80 0.80 0.357
----------------------------------------------------------------------------
193.00 215.15 22.15 0.59 0.59 0.091
----------------------------------------------------------------------------
Including 203.00 204.00 1.00 3.63 3.63 0.053
----------------------------------------------------------------------------
AT-08-014 2200 N IP 145.00 152.00 7.00 0.40 0.40 0.181
----------------------------------------------------------------------------
North Z. 189.00 191.00 2.00 8.38 8.38 0.002
----------------------------------------------------------------------------
210.10 212.00 1.90 2.56 2.56 0.217
----------------------------------------------------------------------------

----------------------------------------------------------------------------
AT-08-015 1900 N IP 128.00 129.00 1.00 0.31 0.31 0.120
----------------------------------------------------------------------------

----------------------------------------------------------------------------
AT-08-016 1300 N IP NSV
----------------------------------------------------------------------------
----------------------------------------------------------------------------
AT-08-017 1300 N IP 72.50 74.00 1.50 1.02 1.02 0.080
----------------------------------------------------------------------------
145.45 146.70 1.25 2.67 2.67 0.002
----------------------------------------------------------------------------

----------------------------------------------------------------------------
AT-08-018 1200 N Maybrun 53.00 76.00 23.00 0.32 0.32 0.206
----------------------------------------------------------------------------

----------------------------------------------------------------------------
AT-08-019 1300 N IP NSV
----------------------------------------------------------------------------

----------------------------------------------------------------------------
AT-08-020 1000 N IP 24.00 35.00 11.00 1.15 1.15 0.006
----------------------------------------------------------------------------
including 24.00 25.24 1.24 4.46 4.46 0.002
----------------------------------------------------------------------------
63.00 65.80 2.80 0.86 0.86 0.019
----------------------------------------------------------------------------
72.00 115.00 43.00 0.33 0.33 0.016
----------------------------------------------------------------------------
Including 109.00 109.40 0.40 9.91 9.91 0.028
----------------------------------------------------------------------------

----------------------------------------------------------------------------
AT-08-021 1000 N Maybrun 15.00 75.00 60.00 0.24 0.24 0.352
----------------------------------------------------------------------------
Including 42.80 65.00 22.20 0.40 0.40 0.474
----------------------------------------------------------------------------
88.00 89.00 1.00 1.84 1.84 0.104
----------------------------------------------------------------------------
117.00 121.00 4.00 0.38 0.38 0.244
----------------------------------------------------------------------------

----------------------------------------------------------------------------
AT-08-022 800 N IP 151.46 152.00 0.54 2.66 2.66 0.163
----------------------------------------------------------------------------
205.00 221.50 16.50 0.50 0.50 0.110
----------------------------------------------------------------------------
Including 211.00 221.50 10.50 0.73 0.73 0.135
----------------------------------------------------------------------------
Including 221.00 221.50 0.50 8.25 8.25 0.236
----------------------------------------------------------------------------

----------------------------------------------------------------------------
AT-08-023 800 N IP NSV
----------------------------------------------------------------------------

----------------------------------------------------------------------------
AT-08-024 907 N Maybrun 4.00 26.00 22.00 0.31 0.31 0.681
----------------------------------------------------------------------------
97.00 101.00 4.00 1.19 1.19 0.230
----------------------------------------------------------------------------
136.00 137.00 1.00 1.88 1.88 0.041
----------------------------------------------------------------------------

----------------------------------------------------------------------------
AT-08-025 800 N IP 47.00 53.00 6.00 0.67 0.67 0.101
----------------------------------------------------------------------------

----------------------------------------------------------------------------
AT-08-026 700 N IP 179.00 181.00 2.00 0.22 0.22 0.418
----------------------------------------------------------------------------

----------------------------------------------------------------------------
AT-08-027 820 N Maybrun 73.83 87.00 13.17 0.51 0.51 0.268
----------------------------------------------------------------------------
Including 73.83 75.00 1.17 3.10 3.10 0.322
----------------------------------------------------------------------------
150.00 150.70 0.70 3.98 3.98 0.194
----------------------------------------------------------------------------
153.50 160.60 7.10 1.11 1.11 0.237
----------------------------------------------------------------------------
195.00 201.00 6.00 0.63 0.63 0.219
----------------------------------------------------------------------------

----------------------------------------------------------------------------
AT-08-028 835 N Maybrun 2.50 49.60 47.10 0.46 0.46 0.511
----------------------------------------------------------------------------
Including 27.00 33.00 6.00 0.86 0.86 1.090
----------------------------------------------------------------------------

----------------------------------------------------------------------------
AT-08-029 925 N Maybrun 8.56 26.00 17.44 0.57 0.57 0.314
----------------------------------------------------------------------------
Including 17.00 22.00 5.00 1.62 1.62 0.505
----------------------------------------------------------------------------
76.00 81.25 5.25 0.46 0.46 0.111
----------------------------------------------------------------------------
94.00 98.00 4.00 0.96 0.96 0.118
----------------------------------------------------------------------------

----------------------------------------------------------------------------
AT-08-030 940 N Maybrun 3.00 43.00 40.00 0.70 0.70 0.519
----------------------------------------------------------------------------
Including 4.00 27.00 23.00 1.00 1.00 0.656
----------------------------------------------------------------------------
Including 8.00 13.00 5.00 3.08 3.08 0.540
----------------------------------------------------------------------------

----------------------------------------------------------------------------
AT-08-031 865 N Maybrun 31.00 54.00 23.00 0.22 0.22 0.511
----------------------------------------------------------------------------
65.00 78.00 13.00 0.17 0.17 0.588
----------------------------------------------------------------------------
90.00 104.00 14.00 0.76 0.76 0.467
----------------------------------------------------------------------------
Including 99.00 100.00 1.00 5.25 5.25 0.780
----------------------------------------------------------------------------

----------------------------------------------------------------------------
AT-08-032 910 N Maybrun 2.75 43.00 40.25 0.39 0.39 0.896
----------------------------------------------------------------------------
Including 2.75 19.20 16.45 0.72 0.72 1.767
----------------------------------------------------------------------------
Including 2.75 6.00 3.25 0.83 0.83 4.363
----------------------------------------------------------------------------

----------------------------------------------------------------------------
AT-08-033 850 N Maybrun 2.30 71.00 68.70 0.55 0.55 0.518
----------------------------------------------------------------------------
Including 2.30 17.57 15.27 0.43 0.43 1.229
----------------------------------------------------------------------------
Including 10.00 15.00 5.00 0.91 0.91 2.763
----------------------------------------------------------------------------
And 25.15 26.67 1.52 0.12 0.12 1.420
----------------------------------------------------------------------------
And 29.50 47.00 17.50 1.09 1.09 0.665
----------------------------------------------------------------------------
Including 29.50 33.00 3.50 4.51 4.51 2.084
----------------------------------------------------------------------------
And 68.00 71.00 3.00 3.48 3.48 0.115
----------------------------------------------------------------------------
88.90 101.00 12.10 0.56 0.56 0.219
----------------------------------------------------------------------------

----------------------------------------------------------------------------
AT-08-034 865 N Maybrun 64.30 107.00 42.70 0.51 0.51 0.544
----------------------------------------------------------------------------
Including 85.00 87.00 2.00 5.42 5.42 2.815
----------------------------------------------------------------------------
113.00 115.00 2.00 0.77 0.77 0.530
----------------------------------------------------------------------------

----------------------------------------------------------------------------
AT-08-035 865 N Maybrun 109.00 119.40 10.40 0.19 0.19 0.329
----------------------------------------------------------------------------
143.00 151.00 8.00 0.97 0.97 0.533
----------------------------------------------------------------------------
Including 143.00 144.00 1.00 5.15 5.15 1.300
----------------------------------------------------------------------------

----------------------------------------------------------------------------
AT-08-036 895 N Maybrun 7.17 9.00 1.83 1.43 1.43 0.275
----------------------------------------------------------------------------
99.00 103.50 4.50 4.52 4.52 0.180
----------------------------------------------------------------------------
Including 101.00 102.00 1.00 19.24 19.24 0.184
----------------------------------------------------------------------------
109.00 112.00 3.00 0.49 0.49 0.317
----------------------------------------------------------------------------
130.00 143.00 13.00 0.36 0.36 0.518
----------------------------------------------------------------------------
149.00 152.00 3.00 0.20 0.20 0.460
----------------------------------------------------------------------------

----------------------------------------------------------------------------
AT-08-037 995 N Maybrun 24.00 30.00 6.00 0.15 0.15 0.154
----------------------------------------------------------------------------
107.00 117.00 10.00 0.40 0.40 0.091
----------------------------------------------------------------------------
124.00 126.00 2.00 0.22 0.22 0.279
----------------------------------------------------------------------------


Table 2: Composite assays including previous and new assays for OPW-30 to 35 (2006-07 drilling) - Atikwa Project



----------------------------------------------------------------------------
Gold (g/t)
Cut
to
From To Width 30
Hole No. Section Zone (m) (m) (m) g/t Uncut Cu%
----------------------------------------------------------------------------
OPW-06-30 2000 N North Previous 80.00 84.00 4.00 0.41 0.41 0.789
----------------------------------------------------------------------------
Previous 89.50 96.00 6.50 0.34 0.34 0.812
----------------------------------------------------------------------------
prev. and new 133.00 153.00 20.00 1.54 1.54 0.326
----------------------------------------------------------------------------
incl. New 137.00 142.00 5.00 0.07 0.07 0.313
----------------------------------------------------------------------------
and previous 152.00 153.00 1.00 26.51 26.51 0.310
----------------------------------------------------------------------------
Previous 199.00 199.50 0.50 6.31 6.31 0.016
----------------------------------------------------------------------------
OPW-06-31 2000 N North prev. and new 56.00 125.00 69.00 1.23 1.23 0.200
----------------------------------------------------------------------------
incl. New 56.00 65.00 9.00 0.66 0.66 0.079
----------------------------------------------------------------------------
and prev.,new 79.00 113.00 34.00 2.22 2.22 0.299
----------------------------------------------------------------------------
incl. previous 79.00 83.00 4.00 5.10 5.10 0.597
----------------------------------------------------------------------------
and previous 87.50 90.50 3.00 7.33 7.33 0.409
----------------------------------------------------------------------------
and prev., new 95.00 113.00 18.00 1.82 1.82 0.362
----------------------------------------------------------------------------
and previous 96.00 99.00 3.00 9.12 9.12 0.906
----------------------------------------------------------------------------
and new 102.00 105.00 3.00 0.18 0.18 0.385
----------------------------------------------------------------------------
and prev., new 117.00 125.00 8.00 0.16 0.16 0.266
----------------------------------------------------------------------------
New 160.00 164.00 4.00 0.40 0.40 0.216
----------------------------------------------------------------------------
prev. and new 206.00 209.00 3.00 1.22 1.22 0.075
----------------------------------------------------------------------------
Previous 233.50 238.00 4.50 0.39 0.39 0.480
----------------------------------------------------------------------------
OPW-06-32 2000 N New 15.00 20.00 5.00 2.19 2.19 0.400
----------------------------------------------------------------------------
Including 16.00 17.00 1.00 10.63 10.63 0.750
----------------------------------------------------------------------------
prev. and new 86.00 98.00 12.00 0.15 0.15 0.356
----------------------------------------------------------------------------
Previous 100.00 109.00 9.00 1.45 1.45 0.387
----------------------------------------------------------------------------
Including 107.00 109.00 2.00 4.52 4.52 0.491
----------------------------------------------------------------------------

----------------------------------------------------------------------------
OPW-07-33 2050 N prev. and new 40.00 46.00 6.00 1.54 1.54 0.345
----------------------------------------------------------------------------
incl. previous 44.00 45.00 1.00 4.90 4.90 0.261
----------------------------------------------------------------------------
New 92.00 93.00 1.00 1.51 1.51 0.027
----------------------------------------------------------------------------

----------------------------------------------------------------------------
OPW-07-34 1950 N NSV
----------------------------------------------------------------------------

----------------------------------------------------------------------------
OPW-07-35 1950 N North new and prev. 69.00 109.00 40.00 0.95 0.95 0.140
----------------------------------------------------------------------------
incl. New 74.00 76.00 2.00 2.92 2.92 0.193
----------------------------------------------------------------------------
and new 83.00 85.00 2.00 2.81 2.81 0.122
----------------------------------------------------------------------------
and new 108.00 109.00 1.00 3.71 13.71 0.160
----------------------------------------------------------------------------
New 125.30 139.00 13.70 0.25 0.25 0.195
----------------------------------------------------------------------------


The Company also announces that Golder Associates Ltd. ("Golder") are currently preparing a NI 43-101 report on the Atikwa Lake property that will include modeling of the mineralization associated with the Maybrun Deposit as well as an independent resource calculation.

Opawica has also commissioned Golder to complete a NI 43-101 report on the Company's Dingman gold deposit located near Madoc, Ontario. The Dingman report is expected to be completed by the end of August, 2008. The Atikwa Lake report is expected to be completed in the last calender quarter of 2008.

In addition, Opawica announces that it has entered into an agreement with Gekko Systems Pty Ltd. ("Gekko") whereby Gekko will carry out metallurgical test work to enable a modular plant design to possibly incorporate Crushing, Grinding, Gravity Separation, Flash or Conventional Flotation and Intensive Cyanidation Leaching of the final concentrates. Electrowinning, Resin and Detoxification test work will also be carried out if the initial test work succeeds in achieving suitable recoveries from the Atikwa Lake and Dingman ores. In addition to the metallurgical testwork, a basic flow sheet design will be completed for both projects.

Gekko carries out laboratory test work, flow sheet development, construction, installation and commissioning of the Gekko In Line Pressure Jig, InLine Leach Reactor and modular plants based on gravity, flotation, and intensive leach (GFIL) flow sheets for clients throughout the world. The advantages of using the Gekko systems and modular plants include cost reductions in capital, installation and operating overheads. Specifically the simple innovative modular design requires minimum planning issues, small plant footprint and a reduced reliance on the use of chemicals for the recovery of gold and copper making the system environmentally superior to other operating systems.

Opawica has arranged for 300 kg ore samples each from Atikwa Lake and Dingman to be delivered to Gekko's testing facilities in Ballarat, Australia. Gekko will carry out flow sheet simulations, using their proprietary in-house pilot plant facilities and will determine the characteristics of the ores at Atikwa Lake and Dingman. Mineral liberation, recoveries, gravity amenability and intense cyanidation required for Atikwa Lake and Dingman ores will also be determined using Gekko's laboratory techniques. If these tests return positive results, Opawica will contract Gekko to provide a capital cost estimate and critical path timeline on a 2,000 tpd Gekko plant at Atikwa Lake and Dingman. It is expected that the above work and estimates will take approximately four months to complete.

Fire Assaying for the Atikwa Lake Property was completed by Swastika Laboratories of Kirkland Lake, Ontario.

The Qualified Person for the Atikwa Lake Property and the Dingman Property is Mr. Fred Sharpley, P. Geo., of Kirkland Lake, Ontario and he has reviewed the contents of this release.

Forward Looking Statement

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 and resources, 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 wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. We seek safe harbor.

Shares Issued: 19,435,868

Stock Options: 1,940,000 @ $0.35 to $0.80

Warrants: 2,410,081 @ $0.35 to $0.80

Restricted Shares: 1,635,000

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