News Provided by USA News Group on behalf of Opawica Explorations Inc.

VANCOUVER, British Columbia, Nov. 05, 2026 (GLOBE NEWSWIRE) -- USA News Group News Commentary - Demand for diamond drill rigs is climbing. Val-d’Or-based Orbit Garant Drilling said in September that it reached a drill rig utilization rate of 70% in its fiscal fourth quarter, its highest level since fiscal 2012, on record quarterly revenue, while Foraco International reported third-quarter rig utilization of 53%, up from 35% a year earlier. Across the Abitibi Greenstone Belt, which runs from Timmins, Ontario to Val-d’Or, Québec, one explorer is now lining up a contractor while other gold companies report new results from drill programs on both sides of the provincial border. Companies mentioned in today’s commentary include: Opawica Explorations Inc. (TSXV: OPW) (OTCQB: OPWEF), AMEX Gold Mining Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF), IAMGOLD Corporation (NYSE: IAG) (TSX: IMG), Discovery Mining Ltd. (TSX: DSV, OTCQX: DSVSF), Wesdome Gold Mines Ltd. (TSX: WDO) (OTCQX: WDOFF).

Rigs in Demand

Foraco, which said gold and copper represent more than 50% of its activity, reported third-quarter revenue of US$86.2 million, up 21.4% from the same quarter of 2025, and said growth was led by North America. Orbit Garant said its fourth-quarter revenue rose to $57.2 million from $47.2 million a year earlier, supported by demand for its drilling services in both Canada and South America.

The Gouvernement du Québec describes the Abitibi subprovince as the largest belt of ancient volcanic and sedimentary rocks in the world. Natural Resources Canada says gold was Canada’s most valuable mined commodity in 2024, with a production value of $16.9 billion, and that Ontario and Québec together accounted for 68% of the country’s gold output that year.

Lining Up a Contractor in the Rouyn-Noranda Camp

Opawica Explorations Inc. (TSXV: OPW) (OTCQB: OPWEF) - has begun soliciting bids from qualified diamond drilling contractors for a planned drill program at its 100%-owned Arrowhead Gold Project in the Rouyn-Noranda camp of Québec’s Abitibi Gold Belt. The company expects the program to consist of approximately 10,000 metres of NQ diamond drilling and anticipates awarding a contract once the competitive bid process is complete. Subject to contractor availability, permitting requirements and field logistics, Opawica said drilling is expected to begin at the earliest practical opportunity. The campaign is designed to expand and further define known gold-mineralized zones and to test several high-priority targets identified through previous drilling, geological mapping, geophysical surveys and surface sampling.

According to Opawica, Arrowhead is immediately adjacent to properties held by Agnico Eagle, including the LaRonde Complex. Agnico Eagle reports that more than 8 million ounces of gold have been produced from the complex since the LaRonde mine began commercial production in 1988, and that its processing facility includes copper and zinc flotation. Opawica describes several styles of gold mineralization on Arrowhead, including quartz-carbonate veins associated with east-west trending faults and shear zones, and a 2022 company release said historical holes on the property intercepted 40 mineralized zones, “mostly in gold, but some in copper and zinc.”

The new program builds on earlier work. In August, Opawica said it holds drill permits covering 25 drill-pad locations at Arrowhead, and that 11 of the 14 diamond drill holes in its 4,306-metre 2022 program intersected gold zones grading greater than 1.0 g/t Au along an approximately one-kilometre stratigraphic strike length. A plan the company outlined in November 2025 allocated the 10,000 metres to 15 targets in a Western Zone, three holes in an Eastern Zone, two deep holes and four holes following up historic results. Later in August, Opawica closed an oversubscribed private placement for $1,733,433 and said it intends to use the net proceeds to drill new high priority drill targets at Arrowhead, as well as for general working capital and market awareness.

“The initiation of the contractor bidding process marks another important step toward advancing the Arrowhead Gold Project,” said Blake Morgan, Chief Executive Officer of Opawica Explorations Inc. “The planned 10,000-metre drill program is intended to build upon the encouraging results generated from previous exploration programs and to test a number of compelling targets identified across the property. We look forward to commencing drilling and continuing to unlock the project’s exploration potential.”

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Gold and VMS Across Québec

About 110 kilometres north of Rouyn-Noranda, AMEX Gold Mining Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) reported on October 29 the first results from a resource conversion drill program at its flagship Perron Project in the northwestern Abitibi region of Quebec, a program aimed at upgrading Inferred resources to Measured and/or Indicated for future advanced economic studies. Hole PE-26-959 in the Denise Zone returned 114.07 g/t Au over 1.00 m, including 227.46 g/t Au over 0.50 m, at a vertical depth of about 187 m. Separate exploration drilling east of the Denise Zone has potentially expanded the mineralized footprint by approximately 320 m, which the company cautioned will require further drilling to confirm. Amex says Perron hosts several zones of high-grade gold mineralization alongside VMS mineralization and “hybrid” gold-rich VMS mineralization.

“These results in the conversion program are important in increasing confidence in the economics of the second phase of the operation,” said Aaron Stone, Vice President Exploration of Amex Gold Mining.

In central Quebec, IAMGOLD Corporation (NYSE: IAG) (TSX: IMG) said on October 27 that drilling extended mineralization at Nelligan, intersected high-grade gold at Monster Lake and advanced Philibert, which together make up its Nelligan Mining Complex. The three sit within a 15 km radius, about 60 km southwest of Chibougamau, and highlights included 77.0 metres at 2.23 g/t Au in hole NE-26-272. IAMGOLD said it expects to provide its next exploration update in the first half of 2027, followed by a Preliminary Economic Assessment.

“Through the consolidation of Nelligan, Monster Lake and Philibert, we have created one of Canada’s largest pre-production gold camps, and these results reinforce the scale, quality and growth potential of the Complex,” said Renaud Adams, President and Chief Executive Officer of IAMGOLD.

Ontario Camps Keep Drilling

In Timmins, Discovery Mining Ltd. (TSX: DSV, OTCQX: DSVSF) reported on October 20 that drilling at Dome continues to expand mineralization, with new high-grade intersections on the south side of the resource pit extending mineralization by 600 metres. The results covered assays from 36 holes totalling 16,365.4 metres. Dome produced 16.7 million ounces of gold from underground and open pit sources between 1910 and 2017, and its current mineral resource totals 11.0 million ounces at an average grade of 1.49 gpt in the Inferred category, according to the company, which said a new resource estimate remains on track for the first quarter of 2027. Discovery acquired the Kidd Operations in June 2026, which it said added critical minerals to its current production profile.

“The high-grade intersections reported today further demonstrate the tremendous potential that exists for Dome Mine to resume operations as a large-scale, long-life open-pit mining operation,” said Tony Makuch, Discovery’s President, CEO and Chairman.

Wesdome Gold Mines Ltd. (TSX: WDO) (OTCQX: WDOFF), which operates Eagle River in Northern Ontario and Kiena in Val-d’Or, Québec, reported on November 2 that drilling in the western extension of Eagle River’s 800 Zone intersected 8.3 g/t gold over 10.6 metres, and that a hole in the 500 Zone returned 96.2 g/t gold over 2.2 metres (uncapped). The 2026 Eagle River near-mine growth program completed 21 underground holes and one deep surface hole, totalling approximately 8,000 metres, and Wesdome said it will continue testing the extensions with four underground exploration drills through the balance of the year and into 2027.

“These results continue to highlight Eagle River’s significant growth potential, both deeper in the mine and around existing underground infrastructure,” said Anthea Bath, President and Chief Executive Officer of Wesdome.

Track the Signals Before the Crowd

Exploration names can move on a drill contract, an assay release or a financing, and attention often builds before the crowd notices. Eagle Eye is a real-time investor signal-intelligence platform that surfaces sentiment shifts, news flow and trending tickers as they form. Watch it live at eagle-eye.dev.

Article Source: Opawica Explorations Inc. news releases dated November 15, 2022, November 4, 2025, and August 6, August 25 and November 5, 2026, and the Company’s website.

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Cautionary Note Regarding Exploration Results and Technical Information. Opawica Explorations Inc. has not defined a mineral resource or mineral reserve on the Arrowhead Gold Project. The Company has begun soliciting bids from drilling contractors but has not awarded a drilling contract, and the size, scope and timing of the planned program of approximately 10,000 metres remain subject to the completion of the bid process, contractor availability, permitting requirements and field logistics. There is no certainty that drilling will result in the discovery or expansion of mineralization. Historical results referenced in this article have not necessarily been independently verified by the Company’s qualified person and should not be considered indicative of future exploration results. The presence of mineralization on adjacent, nearby or geologically similar properties, including the LaRonde Complex, is not necessarily indicative of mineralization on the Arrowhead Gold Project. According to the Company, the technical content of its news release has been reviewed and approved by Yvan Bussieres, P.Eng., an independent qualified person as defined by National Instrument 43-101; the qualified person has not reviewed or approved this article. Drill results, resources, production and other disclosures of other companies referenced in this article are as reported by those companies, may be stated as core lengths rather than true widths, are not indicative of results at any Opawica Explorations Inc. property, and resource values reported by other companies may be stated before mining, processing and recovery costs. Information attributed to Natural Resources Canada and the Gouvernement du Québec is as published by those sources, and the Gouvernement du Québec description of the Abitibi is translated from French. Readers should review the Company’s filings on SEDAR+ at www.sedarplus.ca.

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