Opawica Explorations Inc.

TORONTO, Sept. 22 /CNW/ - Opawica Explorations Inc. ("OPW"/the "Company")
announces that the Company has entered into an option agreement to acquire up
to a 100% interest in the mineral rights on the Atikwa Lake Gold-Copper
Property located about 60 km southeast of Kenora, Ontario.
The Atikwa Lake property (the "Property") consists of 22 patented mining
claims totalling 890 acres. In 1951 copper-gold mineralization was discovered
by Noranda Mines Limited on the Property. Since this time over 75,000 feet of
drilling and approximately 1,000 feet of underground development on two levels
has been undertaken by two separate property owners. In October 1970 a 500 tpd
mill was placed on stand-by and maintenance after having milled 200,000 tons
of ore from the Atikwa Lake property. All past work on the property has
outlined five gold-copper zones on the property including one surface zone
500 ft long by 185 ft wide and reportedly grading 1.12% Cu and .04 opt Au to a
vertical depth of 150 ft. This zone and the other four zones are open to depth
and on strike. Gold and Copper mineralization is known to extend to at least
1,250 ft in depth on the property.
The Atikwa Lake property is located at the edge of a large Pre-Cambrian
greenstone belt which is comprised of several branches striking northwest-
southeast and northeast-southwesterly between large batholiths of granitic
intrusives. Mineralization generally consists of chalcopyrite, pyrite, and
pyrrhotite localized along fractures located on the nose of the Atikwa Lake
Batholith.
Opawica may earn a 100% interest in the property by paying $700,000 in
cash (including $200,000 as advance royalty payments) and issuing 10,000,000
shares of the Company over a four year period. Of the above share and cash
consideration, a total of $50,000 cash and 2,500,000 shares are initial firm
commitments with the balance of the consideration being optional payments. The
Vendor shall retain a 3% to 5% NSR of which half of this royalty interest may
be repurchased by the Company for $1,000,000. The Company is obligated to make
$400,000 of advance royalty payments commencing three years from closing.
The above option agreement is subject to the approval of the TSX.
The qualified person for the Atikwa Lake Gold-Copper Property is Mr. R.W.
Laakso, P.Eng. of Holland Landing, Ontario.
In addition, the Company announces a 5,000,000 unit flow-through private
placement at $0.10 per unit. Each unit consist of one flow-through share and
one share purchase warrant. Each warrant entitles the holder to acquire one
further share (non-flow through) of the Company at $0.15 per share for a one
year term. This private placement is subject to regulatory approval. The
proceeds of $500,000 will be expended on the Atikwa Lake property primarily in
diamond drilling prior to year end 2005.

On behalf of the Board
Dan M. Clark, President

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