Mr. Fred Kiernicki reports

OPAWICA EXPLORATIONS INC. SIGNS PROPERTY PURCHASE AND SALE AGREEMENT AND ANNOUNCES PRIVATE PLACEMENT

Further to its news release of Dec. 22, 2015, Opawica Explorations Inc. has executed a purchase and sale agreement with Investissements Gema Inc. for the company to acquire a 100-per-cent interest, subject to retained royalties, in the Bazooka, McWatters and Doyon-Bousquet claims located in Northern Quebec, Canada.

In order to purchase the properties, the company is to issue 3.87 million common shares of the company, said shares to be issued on a postconsolidation basis, it being acknowledged that the company is intending to consolidate its current and outstanding share capital on a four-old-for-one-new basis. The shares will be subject to a four-month hold period under applicable securities laws. One million of the shares are to go to RT Minerals Corp., a company with common directors to the company.

A further condition to closing the sale of the properties is the completion of a unit private placement to raise up to $600,000 at a minimum price of $1,000 per unit (postconsolidation), with each unit comprising 16,000 flow-through common shares, 4,000 non flow-through common shares and 20,000 share purchase warrants exercisable at a minimum price of five cents for a term of five years. Up to $480,000 of the offering will consist of flow-through shares.

Closing of the transactions contemplated hereby is subject to approval by shareholders of the company and TSX Venture Exchange acceptance to the transactions contemplated hereby, provided that if any of the conditions set out herein are not satisfied by April 30, 2016, the agreement shall terminate and be of no further force and effect.

The company has set April 6, 2016, as the date of its annual general meeting.