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Opus One Gold Corp Makes its Final Payment to Acquire a 100% Interest in the Noyell Gold Property Located South of Eeyou Itschee James Bay Area

16.05.2024  |  GlobeNewswire

MONTREAL, May 16, 2024 - Opus One Gold Corp. (TSX-V: OOR) (the "Company" or "Opus One") is pleased to announce that it has made the final payment of $200 000 to Magna Terra Minerals, allowing it to acquire a 100% interest in Noyell gold property, located 25Km south of the town of Matagami in the southern part of the Eeyou Itschee Baie James, Casa Berardi mineral district.

Major points in favor of our Noyell Gold project are:

  • Noyell project is very well located, 25KM south of Matagami, Quebec, a mining friendly community.
  • Noyell is located in Quebec province, benefiting from a very favorable mining jurisdiction, especially where it is located.
  • Noyell project is located within the well-known Casa Berardi mineral belt.
  • Noyell is located 14 KM from regional road 109.
  • An operating gold mill is located 70Km southwest, close to regional road 109.
  • The Noyell project is at advanced definition drilling stage on Zone 1.
  • The mineralized zone shows good widths and gold grades.
  • The mineralized zone is shallow, easy to follow and to understand and demonstrates excellent lateral and depth continuity.
  • The mineralized zone shows a dip south 67degrees.
  • Noyell has an excellent development potential, the mineralized structure still being open for exploration toward East, toward West and at depth. So far, we only drilled down to a maximum 350 metres depth.
  • Low-cost exploration in comparison with remote projects, thanks to its location and ease of access
  • Noyell is located above 49th parallel therefore allowing for extra tax deductions and refunds.

Louis Morin, CEO of Opus One, commented: A very important step has been achieved by Opus One Gold Corp. I would like to personally thank all of our supporters who allowed us to successfully reach this milestone. Financing conditions remain difficult for junior exploration companies, and we managed, despite these challenges, to successfully complete the acquisition of a 100% interest in the Noyell gold property, which constitutes the company's main asset.

OPUS ONE Resources Inc.

Opus One Resources Inc. 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, north-western Quebec and north-eastern Ontario - one of the most prolific gold mining areas in the world. Opus One holds assets in the Val-d'Or and Matagami mineral districts.

A qualified person, Pierre O'Dowd P.Geo, has verified the data disclosed, including sampling, analytical, and test data underlying the information or opinions contained in the written disclosure as required by section 3.1 and 3.2 of NI43-101.

Forward-Looking Statements

This news release contains statements that may constitute "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information may include, among others, statements regarding the future plans, costs, objectives or performance of Opus One, or the assumptions underlying any of the foregoing. In this news release, words such as "may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate" and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, including the anticipated exploration program on the project, the results of such exploration program, the development of the project and what benefits Opus One will derive from the project, the expected demand for lithium. Forward-looking information is based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions, and other unpredictable factors, many of which are beyond Opus One' control.

These risks, uncertainties and assumptions include, but are not limited to, those described under "Financial Instruments" and "Risk and Uncertainties in Opus One' Annual Report for the fiscal year ended August 31st, 2023, a copy of which is available on SEDAR at www.sedar.com and could cause actual events or results to differ materially from those projected in any forward-looking statements. Opus One does not intend, nor does Opus One undertake any obligation, to update or revise any forward-looking information contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the release.

For more information, please contact:

Louis Morin
Chief Executive Officer & Director
Tel.: (514) 591-3988

Michael W. Kinley, CPA, CA
President, Chief Financial Officer & Director
Tel: (902) 402-0388

Visit Opus One's website: www.OpusOneGold.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4a8e43fd-8302-450c-bfd1-d7bacbaee064

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Opus One Gold Corp.

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