Opawica announces private placement unit offering closes

Opawica Explorations Inc. announces that the private placement unit offering announced on April 9, 2008 has closed.

A total of 1,635,000 common shares were issued at $0.80 per share for proceeds of $1,308,000.

Each unit is comprised of one common share and one-half of one share purchase warrant entitling the holder to acquire one further common share of the Company at $0.90 per share over a one year term.

Insiders of the Company subscribed for a total of 172,500 units of this placement.

The proceeds derived from this offering will be used for the Company’s ongoing exploration associated with its Atikwa Lake copper-gold property near Kenora, Ontario and the Dingman gold property in south eastern, Ontario as well for general working capital.

In connection with the offering, agents were paid a total of $71,200 and received 89,000 share purchase warrants to purchase a total of 89,000 common shares of the Company at $0.90 over a one year term.

All of the shares and warrants issued pursuant to the aforesaid private placements are subject to a four-month hold period.