Opus One Gold Announces Transfer of Ownership of Fecteau, Canadian Business Journal

Not intended for distribution to US newswire services or for dissemination in the US

MONTREAL, November 22, 2022 (GLOBE NEWSWIRE) — Opus One Gold Co., Ltd. (“We” or “OPUS ONE”) – (TSX Venture Exchange: OOR) announces that it has entered into a transfer and succession agreement effective November 21, 2022 (“allocation agreement”) Clarity Gold Corp (“Clarity) and the two original options (“Opter”) This gave us the option to acquire a 100% stake ( “option”) the property known as the Fecteau property in Quebec ( “property”). Pursuant to the Transfer Agreement, Opus One has transferred all rights and obligations with respect to the Property Option Agreement dated June 20, 2016, as amended on September 29, 2020 (“original option agreement”) Contact Clarity to acquire 100% interest in the Property.

Highlights of Fechteau properties

• 30 km east of Osisko Mining’s Windfall Lake project and Bonterra Resources’ Gladiator project (Figure 1).
• 9 mineral shows including:
  • Lac Fecteau Est: 2.42g/t Au at 2.65m, 1.82g/t Au at 4.9m at drill core
  • Buteux-Marceau: up to 4.11 g/t Au in grab samples
  • Lac Pistolet: up to 1.08 g/t Au and 1.91% Cu in grab samples
  • Desgagné: Up to 1.00 g/t Au in trenches over bulk sulphides
  • Lac Fecteau Nord: 1.71 g/t Au 1.5m drill core
  • Lac Fecteau Porphyry: up to 7.09 g/t Au in grab samples
• 5 new exploration targets generated from sampling. Some of them are tracked by IP investigations.

“We are excited to continue our exploration in the Belt as Osico and Bontera continue to succeed in this trend and the comprehensive holdings of gold across Abitibi continue. It shows the mineralization, alteration and structural complexity we are looking for,” said CEO James Rogers. “I am excited to get to work advancing the goals Opus has so passionately defined.”

Fechteau’s property

• The property consists of one claim block containing 107 claims totaling 5,979.02 hectares in the Urban-Barry Windfall mining district.
• The property is known to host two types of mineralization: VMS (Cu-Zn-Au) and medium-temperature gold. The company’s program covers both styles of mineralization.
• The VMS target is in the field by a large number of gossans of semi-mass to large sulfides located along or near the east-west trending rhyolite-dacite contact where strikes of more than 10 km have been observed. is represented. Past excavations near the surface intersected anomalous copper-zinc intervals associated with anomalous gold.
• Moderate gold-bearing quartz veins are observed at both ends (western and eastern parts) of the property where the volcanic sequence folds. Prominent east-west meter-wide shear veins developed parallel to the axial plane of the folds. This drilling program targets a potential downdip or downplunge extension of known mineralization.

About transfer agreement

As consideration for the option, Clarity agreed to pay Opus One $60,000 in cash. This is payable within 15 days from the date of the transfer agreement.

Pursuant to the transfer agreement, Clarity shall assume all of Opus One’s obligations under the original option agreement to acquire the property. “clarity share”) For Option Providers, the Property will incur certain Exploration Fees as follows:

date	Payment ($CAD)		Issuance of shares	Exploration fee
Before December 31, 2022	–		–	$180,880
Before January 31, 2023	$37,500		Clarity Share worth $37,500	–
Before December 31, 2023	$12,500		Clarity Share worth $12,500	$200,000

Clarity Shares are issued at a price per Clarity Share and are listed on the Canadian Stock Exchange (“CSE”) on the trading day immediately preceding the issue date, subject to applicable securities laws and CSE policies.

Neither TSX Venture Exchange nor its regulated service providers (as those terms are defined in the TSX Venture Exchange Policy) are responsible for the adequacy or accuracy of this release.

For more information, please contact:

Louis Morin, CEO & Director
Phone (514) 591-3988
[email protected]

Michael W. Kinley, CPA, California
President, CFO and Director
Phone (902) 826-1579
Fax (902) 826-2550
C (902) 402-0388
[email protected]

Visit the Opus One website: www.OpusOneGold.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/de3a241a-ba1a-4a7c-ac66-f9e5a1853a07.

CBJ Newsmaker