TSX-V / OOR :

Chibougamau

The Chibougamau project is comprised of three gold properties: WinWin, Fecteau and Grizzly. It consists of 288 mining claims that cover a total surface area of 15,869 hectares. The properties are located in the Chibougamau-Chapais and Urban-Barry mining camps, where previous exploration has identified several gold occurrences and multiple showings located in sub-cropping areas.

On June 20, 2016, the Company entered into three separate option agreements with various prospectors. Pursuant to the agreements, Opus One (previously GFK) can acquire a 100% interest in each property on the following terms and conditions:

WinWin

  • Cash payments over a four-year period totalling $500,000, including an initial payment of $35,000; and
  • Exploration expenditures totalling $2,000,000 over a four-year period.

Fecteau

  • Cash payments over a four-year period totalling $355,000, including an initial payment of $25,000; and
  • Exploration expenditures totalling $1,200,000 over a four-year period.

Grizzly

  • Cash payments over a four-year period totalling $400,000, including an initial payment of $30,000; and
  • Exploration expenditures totalling $1,500,000 over a four-year period.

The Chibougamau project is comprised of three gold properties located in mining camps, where previous exploration has identified several gold occurrences