New Risk • Mar 05
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Canadian stocks, typically moving 20% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$2.3m free cash flow). Share price has been highly volatile over the past 3 months (20% average weekly change). Revenue is less than US$1m. Market cap is less than US$10m (CA$3.54m market cap, or US$2.59m). New Risk • Jan 22
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Canadian stocks, typically moving 20% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$3.0m free cash flow). Share price has been highly volatile over the past 3 months (20% average weekly change). Earnings have declined by 2.7% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (CA$3.34m market cap, or US$2.42m). New Risk • Aug 01
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$1.0m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$1.0m free cash flow). Earnings have declined by 6.7% per year over the past 5 years. Shareholders have been substantially diluted in the past year (67% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (CA$3.74m market cap, or US$2.71m). Minor Risk Share price has been volatile over the past 3 months (13% average weekly change). New Risk • Jun 30
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 14% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 10% per year over the past 5 years. Shareholders have been substantially diluted in the past year (67% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (CA$5.51m market cap, or US$4.04m). Minor Risk Share price has been volatile over the past 3 months (14% average weekly change). Announcement • Apr 18
Opawica Explorations Inc. Provides an Update on Its 2025 Exploration Campaign At the Bazooka Property in the Abitibi Gold Belt Opawica Explorations Inc. provided an update on its 2025 exploration campaign at the Bazooka Property ("Bazooka"). Drill hole OP-25-35, with a total depth of 303 metres, intersected a significant 60-metre mineralized zone between 190 m and 250 m. Within this broader interval, a 12-metre section (from 189.8 m to 202.5 m) exhibited strong silicification and sericitization with visible arsenopyrite, with an XRF reading at 196 m of 66 g/t Au. This is followed by a 30.4-metre intermediate zone (202.5 m to 232.9 m) with lower levels of mineralization, followed by a deeper and well mineralized zone (232.9 m to 241.2 m) containing approximately 2% arsenopyrite, with a XRF reading of 234 ppm Au at 249 m. Between 189.80 m and 202.20 m, the drill hole encountered a yellowish-grey-green rock unit that is intensely silicified and sericitized, with abundant quartz veins and veinlets throughout. A higher concentration of arsenopyrite is observed between 195 m and 196.50 m. An XRF point reading taken at 196 m returned values of 8,514 ppm As, 66 ppm Au, 49 ppm Ni, and 139 ppm Cr. At 202.20 m -205.50 m is a sericitized sheared Yellowish-green grey rock sericitized shear of veins. The XRF point reading at XRF 204 m: As 47 ppm, Ni 1050 ppm, and Cr 970. Between 205.50 m and 250 m, the drill hole intersected a fine-grained, greenish-grey rock, possibly containing traces of fuchsite, with an elevated presence of fine arsenopyrite and pyrite mineralization stronger from 235.5 m (2-3%). moderate silicification is observed throughout the interval, becoming more concentrated from 242 m onward, accompanied by the appearance of small grey quartz veins. The XRF point readings at these various depths are as follows: 219 m: As 398 ppm, Au 10ppm, Ni 797 ppm, and Cr 1986: 234 m: As 872: ppm Au 9 ppm, Ni 792 ppm, and Cr 3424 ppm. 243 m: As 792 ppm Au 13 ppm: Ni 650 ppm and Cr 1084 ppm. 249 m: As 2.3%, Au 234 ppm: Ni 4129 ppm and Cr 7970 ppm - (234 g/t Au) 1 Part per million (ppm) = 1 Gram/ton (g/ton) X-ray fluorescence (XRF) is a non-destructive analytical technique used to determine the elemental composition of materials such as drill cores. XRF analyzers determine the chemistry of a sample by measuring the fluorescent (or secondary) X-ray emitted from a sample when it is excited by a primary X-ray source. note the results only provide an indication of the amount of minerals present. Certified assaying of the core samples is required to accurately determine the amount of base metal and precious metal mineralization. Assay core samples are being analysed at ALS Chemex lab of Rouyn-Noranda, 165 Rue Jacques-Bibeau, Quebec (an ISO/IEC 17025:2005 accredited facility). The sampling program is undertaken by Company personnel under the direction of Mr. Yvan Bussieres, P.Eng., A secure chain of custody is maintained in transporting and storing of all samples. The rock samples will undergo fire assays, 1E3 - Aqua Regia - ICPOES and select samples underwent gravimetries. Samples of mineralization were taken at 0.5-to-1.5-meter intervals, with sample intervals being adjusted to respect lithological and/or mineralogical contacts and isolate narrow veins or other structures that may yield higher grades. Announcement • Apr 16
Opawica Explorations Inc. Intersects Visible Gold At Its Bazooka Property in the Abitibi Gold Belt Opawica Explorations Inc. provided an update on its 2025 exploration campaign at the Bazooka Property ('Bazooka'). Opawica has intersected a broad 76-meter mineralized zone, starting at a depth of 285 meters and extending to 361 meters, at the contact with a graphitic horizon. The interval includes visible gold, with consistent occurrences of arsenopyrite, fuchsite, and quartz veining throughout. Visible gold was observed in drill hole OP-25-33 at a depth of 348.5 metres. The Company has completed ten diamond drill holes for a total of 2,000 meters of drilling and submitted 610 core samples for assays. Of the ten drill holes completed, team successfully intersected the Cadillac-Larder Fault multiple times, revealing promising mineralization that enhances understanding of local mineralization patterns. The Cadillac-Larder Lake fault is a major structural element in the Abitibi Greenstone Belt, known for its rich and its historical significance in mining. The Bazooka property occurs along one of the most prolific auriferous structures in the world, the Cadillac-Larder Lake break/fault. The Cadillac-Larders Lake break/fault, in part, marks the boundary between the Archean Abitibi subprovince in the north and the predominantly metasedimentary Pontiac subprovince south of the fault. Gold mineralization on the property is hosted within the Main Zone, a mixed sequence of strongly altered quartz-carbonate-sericite and talc-chlorite schists derived from sedimentary and ultramafic to mafic volcanic protoliths, with an estimated true width of up to 60 metres. The break/fault zone lies at the base and is marked by a strongly graphitic fault with an estimated true width ofup to two metres. The graphitic fault generally marks the contact between the sedimentary and ultramafIC metavolcanic rocks. Structures and hydrothermal pathways were interpreted using the co-occurrence of selected exploration criteria in drill hole data. Interpreted prospective panels trend generally east-west with a steep dip to the north. They are constrained within the northern and southern borders of the Cadillac shear zone, a 150-metre-wide corridor of highly carbonate-chlorite-talc altered and schistosed ultramafic units, which form a Z- shape asymmetric drag fold in the area of the Bazooka historic mine. 
