Opus One Gold Corp. announced that on May 23, 2023, it has reached an agreement for the acquisition of a 100% interest in its first property with strong lithium potential in the Eeyou Itschee Territory, James Bay, Quebec, in a district that is currently being intensively explored for its spodumene pegmatites by numerous companies. After months of property evaluations, the company elected to get involved in this area of the James Bay which is particularly active for lithium exploration.

It took some time for Opus One to secure these properties because of the restrictive parameters established by the company for property acquisition: Properties selected must be located within prospective districts. Properties selected must be accessible by land for low-cost exploration and development (trucks or ATV’s). Properties must show excellent potential for discoveries.

The property is called ‘La Grande’ and is located within the La Grande lithium exploration district. The property is located approximately 70 km to the west of the Corvette discovery (Patriot Battery Metals) and 10 km to the south of the Cancet discovery (Windsome Resources) and consists of 3 claim blocks covering an area of 1,541 hectares. Prospecting by the previous owner outlined the presence of at least 18 pegmatites on the three blocks.

Two of the three blocks are accessible by the Trans-taïga road using ATV’s. The third (and smallest) block is more remote. The terms of the option agreement between Opus One and the owners consists of a cash payment of CAD 40,000.00; 4,250,000 Opus One shares, valued at CAD 0.05 per share and 1,000,000 warrants exercisable at CAD 0.10 for a period of 18 months; all of the above divided within 3 claims owners based on their ownership percentage. The transaction is conditional upon TSX Venture Exchange approval.