Omega Pacific Secures Majority Stake in Promising British Columbia Property

Omega Pacific Resources Inc. has announced a significant milestone on November 12 in its exploration program by exercising its option to acquire a 51% interest in the Williams Property, located in Northern British Columbia in North America.

Omega fulfilled its obligations under an agreement with CopAur Minerals Inc. by meeting all required exploration milestones, including financial and technical expenditures.

In February 2024, Omega Pacific entered into an option agreement with CopAur granting it the right to acquire up to a 100% interest in the Williams Property in stages. The initial earn-in phase has now been completed, with Omega Pacific issuing 3 million common shares to CopAur, making a cash payment of $1 million, and incurring over $2.1 million in exploration costs, resulting in a 51% ownership stake in the property.

Notably, Omega recently completed an initial drill program totaling 1,714 meters, confirming the presence of significant mineralization. It has further staked additional claims, increasing the total geophysical target area to 12 km.

Under the terms of the option agreement, Omega Pacific can earn a further 29% interest by making an additional $500,000 cash payment and issuing 2,000,000 common shares to CopAur, while incurring $4 million in exploration expenditures before the second anniversary. Upon achieving an 80% interest, the company may acquire the remaining 20% interest from CopAur by paying the fair market value, as determined by an independent evaluator.

If Omega Pacific elects not to exercise its option for full ownership, the parties will enter into a joint venture, with ownership split at an 80:20 ratio.

CEO Jason Leikam expressed his enthusiasm for the achievement, and said, "We're thrilled to have secured a majority stake in the Williams Property, which has shown significant potential. The strong drilling results and expanded land position are promising indicators for the future of this project."

Omega Pacific plans to continue its aggressive exploration efforts at the Williams Property, with further drilling programs designed to expand on the recent discoveries and define the full extent of mineralization. The company remains optimistic about the project's potential to become a significant asset in its portfolio.

About Omega Pacific Resources Inc.

Omega Pacific Resources is a Vancouver-based exploration company in Canada. It is focused on advancing resource-rich projects in North America. The company's strategy is to target high-potential, underexplored properties with a focus on precious metals. Omega Pacific is committed to delivering value to shareholders through strategic acquisitions and active exploration programs.