Opus One Resources Announces Closing of the Second Tranche of the Private Placement Financing With a Strategic Investment From Sidex

MONTREAL, Aug. 11, 2020 (GLOBE NEWSWIRE) — OPUS ONE Resources Inc. (the “Company” or “OPUS ONE”) – (TSX Venture Exchange: OOR) announces the closing of a non-brokered flow through private placement (the “Flow Through Offering”) for total gross proceeds of $750,000. In total, the Company issued 9,375,000 flow-through common shares (the “Flow-Through Shares”) at a price of $0.08 per Flow-Through Share.

The Company also closed the second tranche of its units offering for additional gross proceeds of $100,000. In total, the Company issued an additional 2,000,000 units (the “Units”) at a price of $0.05 per Unit, each unit consisting of one common share of the Company and one share purchase warrant to purchase one additional common share at a price of $0.07 for a period of three years (see news release of August 4, 2020 announcing the first closing for more details).

In connection with both closings, the Company paid total finders’ fees of $21,600 in cash and issued 320,000 non-transferable share purchase warrants, each warrant entitling the holder thereof to purchase one common share of the Company at a price of $0.07 per share until August 7, 2022. The securities issued under the closings are subject to a four month hold period ending December 8, 2020.

The Offering remains subject to the final approval of the TSX Venture Exchange. The proceeds of the Offering will be used by the Company to advance its Noyell and Fecteau exploration projects within Quebec and for general administrative purposes.

“We are extremely pleased to welcome Sidex as a strategic investor in Opus One,” said Louis Morin, Chief Executive Officer. “Sidex’s strategic investment is a strong endorsement of the upside value they currently see in relation to our properties located in Casa Berardi and Urban Barry areas that are well established gold districts. We look forward to the advancement of our projects as we work towards delivering value to our shareholders.”

SIDEX is an initiative of the Québec government and the Fonds de solidarité des travailleurs du Québec (F.T.Q.) whose mission is to invest in companies engaged in mineral exploration in Québec in order to diversify the province’s mineral base, promote innovation and new entrepreneurs.

About 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 Val d’Or, Matagami and Chibougamau areas. Opus controls a 100% interest in the following projects:

Noyell property (option to earn 100%) is located few kilometers East of Nottaway Resources Vezza Mine, within the Casa Berardi gold district.

Vezza Extension and Vezza North are located few kilometers West and North of Nottaway Resources Vezza Mine;

Fecteau property (option to earn 100%), located in the Urban-Barry greenstone belt, east of Osisko Mining’s Windfall Lake deposit, currently one of the most active exploration area in Canada.

Bachelor Extension property is adjacent to Bonterra Resources Inc.- Bachelor Gold Mine;

Courvillle gold property is located east of Val D’Or;

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

For more information, please contact:

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

Michael W. Kinley, CPA, CA
President, CFO & Director
T (902) 826-1579
F (902) 826-2550
C (902) 402-0388
[email protected]

Visit Opus One’s website: www.OpusOneResources.com