VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 19, 2012) - Opawica Explorations Inc. (TSX VENTURE:OPW) ("Opawica") is pleased to announce that it has entered into a Purchase and Sale Agreement providing for the sale of three of its properties to San Gold Corporation (TSX:SGR) ("San Gold").
The properties to be sold by Opawica to San Gold are the Atikwa Lake gold property, near Kenora, Ontario, the Whitesides-Carscallen property and the Golden property, both located in the West Timmins gold camp, Ontario.
San Gold will pay Opawica total consideration of Nine Million Nine Hundred and Twenty-Five Thousand (9,925,000) shares of San Gold to purchase the above-noted properties.
The sale of the above properties is subject to certain closing conditions, Opawica shareholder approval at a Special Meeting of Opawica to be held on July 30, 2012, and all requisite regulatory approvals.
Following closing of the transaction, Opawica will focus its exploration efforts on its 100% owned Bro Property, Yukon.
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.
Contact Information:
Donald (Dan) Clark
Chairman
604-681-3170
604-681-3552 (FAX)
dan@opawica.com
www.opawica.com