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Omega Pacific Resources Inc
Symbol OMGA
Shares Issued 28,972,851
Close 2024-05-24 C$ 0.72
Market Cap C$ 20,860,453
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Omega Pacific acquires additional B.C. claims

2024-05-24 20:18 ET - News Release

Subject: OMGA - News Release Word Document

File: '\\swfile\EmailIn\20240524 170913 Attachment OMGA - PR - Claims .docx'

Omega Pacific Acquires Additional Claims in the Golden Horseshoe

May 24, 2024 - Omega Pacific Resources Inc. (CSE: OMGA) ("Omega" or the "Company") is pleased to announce that it has acquired additional exploration claims at its Williams Property in BC's Golden Horseshoe. Three mineral exploration claims (the "Purchased Claims") comprising 51.716 hectares were acquired pursuant to an asset purchase agreement (the "APA") dated as of May 22, 2024 with Steven Scott (the "Vendor"). The Company also reports it staked 1,707 hectares of new claims directly east of the Williams Property, adjacent to the GIC gold-copper target.

Mr. Jason Leikam, Omega Pacific CEO commented: "The Purchased Claims and staked claims significantly expand the opportunity of the GIC gold-copper target. In particular, the Purchased Claims, just a short distance from hole WM22-02, secure the complete known target. Surface work on these claims, completed by past owners, shows positive geochemical data that is highly correlative to what we see on our existing claims. The acquisition of both the staked and Purchased Claims is excellent timing, immediately prior to our upcoming exploration program. We will now expand the program with surface work to generate additional drill targets on these new areas. Overall, the increase in our claim package directly along strike of the GIC target, further bolsters confidence in exploration success at the Williams Property."

Purchase Details

The Purchased Claims are located directly west of the GIC gold-copper target at the Williams Property. A CopAur Minerals press release dated August 16, 2022 reported results from a drill program at the GIC target. Notably, hole WM22-02 located on the western half of the GIC target intercepted 2.2 g/t Au over 50m, including 4.2 g/t Au over 10.5m at the bottom of the hole, which ended in mineralization. The Company is planning a 2024 exploration program at the GIC target to follow up on those compelling results. The Purchased Claims increase the potential strike of the GIC target to over 2 kilometers on the Company's claims.

As consideration for the Purchased Claims the Company will issue 71,500 common shares of the Company (each, a "Share") to the Vendor at a deemed price of $0.70 per Share, representing an aggregate value of $50,000. The Shares under the APA are subject to regulatory approval and a statutory 4 month hold period from date of issuance. No finder's fee or commission was paid in connection with the issuance of the Shares. Closing of the APA is subject to approval of the Canadian Securities Exchange.

Additionally, the Company has entered into an investor relations services agreement with MIC Market Information & Content Publishing GmbH beginning on June 1, 2024. Pursuant to the agreement, MIC has agreed to provide investor communication and on-line marketing services to the company for a period of six months until Dec 1, 2024 in exchange for a fee of 250,000 euros upon receipt of an invoice.

The services include analytics, content creation and publishing, digital and social media marketing, and other related investor communication services. MIC and its principals are arm's-length to the company. MIC's contact information is as follows: Gerhart-Hauptmann-Str. 49B, 51379 Leverkusen, NRW, Germany, attention: Christina Hammer, contact@micpublishing.de, telephone: 49-2171-7766628.

Qualified Person

Robert L'Heureux, P.Geo. and Director of Omega Pacific Resources, is the "Qualified Person" as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects and has reviewed, validated and approved the scientific and technical information contained in this news release. Mr. L'Heureux oversees exploration planning and execution at the Williams Property.

About Omega Pacific

Omega Pacific is a mineral exploration company focused on the development of mineral projects containing base and precious metals.

For more information, please contact:

Omega Pacific Resources Inc.

Jason Leikam, Chief Executive Officer & Director

Tel: +1 (778) 650 4255

Email: jason@omegapacific.ca

Cautionary Statement

Certain statements contained in this press release constitute forward-looking information under the provisions of Canadian securities laws including statements about the Company's plans. Such statements are necessarily based upon a number of beliefs, assumptions, and opinions of management on the date the statements are made and are subject to numerous risks and uncertainties that could cause actual results and future events to differ materially from those anticipated or projected. The Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors should change, except as required by law.

Neither the CSE nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

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