Mr. Louis Morin reports

OPUS ONE GOLD CORP ACQUIRES FIRST PROPERTY WITH STRONG LITHIUM POTENTIAL

On May 23, 2023, Opus One Gold Corp. reached an agreement for the acquisition of a 100-per-cent interest in its first property with strong lithium potential in the Eeyou Itschee territory, James Bay, Quebec, in a district that is currently being intensively explored for its spodumene pegmatites by numerous companies.

After months of property evaluations, the company elected to get involved in this area of the James Bay which is particularly active for lithium exploration. It took some time for Opus One to secure these properties because of the restrictive parameters established by the company for property acquisition:

• Properties selected must be located within prospective districts;
• Properties selected must be accessible by land for low-cost exploration and development (trucks or all-terrain vehicles);
• Properties must show excellent potential for discoveries.

The property is called La Grande and is located within the La Grande lithium exploration district. The property is located approximately 70 kilometres to the west of the Corvette discovery (Patriot Battery Metals) and 10 km to the south of the Cancet discovery (Windsome Resources) and consists of three claim blocks covering an area of 1,541 hectares. Prospecting by the previous owner outlined the presence of at least 18 pegmatites on the three blocks. Two of the three blocks are accessible by the Trans-Taiga road using ATVs. The third (and smallest) block is more remote.

The terms of the option agreement between Opus One and the owners consist of a cash payment of $40,000; 4.25 million Opus One shares, valued at five cents per share; and one million warrants exercisable at 10 cents for a period of 18 months; all of the above divided within three claims owners based on their ownership percentage. The transaction is conditional upon TSX Venture Exchange approval.

The company is gearing up for a summer prospecting, mapping and sampling program on the property. A field crew should be mobilized in July, hoping that the wildfires issue will be resolved by then. The field program is fully financed, and all needed crew has been secured.

Louis Morin, chief executive officer of Opus One, commented: "We established a first partnership with seasoned and dedicated prospectors. Our first lithium property corresponds precisely to our corporate criteria as for accessibility and mineral potential. At Opus One we are always careful to wisely spend our funds to create maximum value for our shareholders. We secured a first-class competent crew to conduct our upcoming summer field program and we are fully financed to proceed. We are also actively looking at other lithium projects to enhance our portfolio."

Magna Terra Minerals Inc., the company from which Opus One is acquiring the Noyell gold property, released an update about the property and the transaction on May 20, 2023. Opus One successfully completed its penultimate payment in May, with the final payment due in May, 2024. Once the final payment will be completed, Opus One will own 100 per cent of the Noyell property.

About Opus One Gold Corp.

Opus One Gold is a mining exploration company focused on discovering high-quality gold and base metals deposits within strategically located properties in proven mining camps, close to existing mines in the Abitibi greenstone belt, northwestern Quebec and Northeastern Ontario -- one of the most prolific gold mining areas in the world. Opus One holds assets in Val d'Or, Matagami and now James Bay areas.

A qualified person, Pierre O'Dowd, PGeo, has verified the data disclosed, including sampling, analytical and test data underlying the information or opinions contained in the written disclosure as required by sections 3.1 and 3.2 of National Instrument 43-101.

We seek Safe Harbor.