Opus One Gold Corp makes its final payment to acquire one

NOT INTENDED FOR DISTRIBUTION TO US NEWSWIRE SERVICES OR FOR DISTRIBUTION IN THE UNITED STATES

MONTREAL, May 16, 2024 (GLOBE NEWSWIRE) — Opus One Gold Corp (TSX-V: OOR) (The “Pursue” or “Opus One) is pleased to announce that the Company has made the final payment of US$200,000 to Magna Terra Minerals, enabling the Company to acquire a 100% interest in the Noyell gold property located 25 km south of the town of Matagami in the southern part of the Eeyou Itschee is located on Baie James, Casa Berardi mineral district.

The main arguments for our Noyell gold project are:

• The Noyell Project is very well located, 25 km south of Matagami, Quebec, a mining-friendly community.
• Located in the province of Quebec, Noyell benefits from a very favorable mining jurisdiction, particularly where it is located.
• The Noyell project is located in the well-known Casa Berardi mineral belt.
• Noyell is 14 km from regional road 109.
• An operating gold mill is located 70 km southwest, near Regional Road 109.
• The Noyell Project is in advanced drilling stages in Zone 1.
• The mineralized zone has good widths and gold grades.
• The mineralized zone is shallow, easy to trace and understand, and has excellent lateral and deep continuity.
• The mineralized zone dips 67 degrees to the south.
• Noyell has excellent development potential as the mineralized structure remains open for exploration to the east, west and at depth. So far we have only drilled to a maximum depth of 350 meters.
• Cost-effective exploration compared to remote projects due to location and easy access
• Noyell is over 49^Th In parallel, additional tax deductions and refunds are possible.

Louis Morin, CEO of Opus One, commented: Opus One Gold Corp. has reached a very important step. I would like to personally thank all of our supporters who have enabled us to successfully reach this milestone. Financing conditions remain difficult for young exploration companies and despite these challenges, we have managed to successfully complete the acquisition of a 100% interest in the Noyell Gold Property, which represents the Company's key asset.

OPUS ONE Resources Inc.

Opus One Resources Inc. is a mining exploration company focused on discovering high-quality gold and base metal deposits in strategically located tenements in proven mining camps near existing mines in the Abitibi Greenstone Belt of northwestern Quebec and northeastern Ontario, one of the most productive gold mining areas of the world. Opus One has assets in the Val-d'Or and Matagami mineral districts.

A qualified person, Pierre O'Dowd P.Geo, has reviewed the disclosed data, including sampling, analytical and testing data underlying the information or opinions contained in the written disclosure, in accordance with Sections 3.1 and 3.2 of NI43-101.

Forward-Looking Statements

This press release contains statements that may constitute “forward-looking information” within the meaning of applicable Canadian securities laws. Forward-looking information may include, but is not limited to, statements regarding Opus One's future plans, costs, objectives or performance or that may be based on assumptions set forth above. This press release uses words such as “may,” “would,” “could,” “will,” “likely,” “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate.” ” and similar words and their negative form are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results and are not necessarily accurate indications as to whether, when or by what date such future performance will be achieved. There can be no assurance that the events anticipated in the forward-looking information will occur or occur, including the expected exploration program on the Project, the results of such exploration program, the development of the Project and the benefits that Opus One will derive from the Project expected demand for lithium. Forward-looking information is based on information available at the time and/or management's reasonable belief regarding future events and is subject to known or unknown risks, uncertainties, assumptions and other unforeseeable factors, many of which are beyond Opus One's control .

These risks, uncertainties and assumptions include, but are not limited to, the risks, uncertainties and assumptions described under “Financial Instruments” and “Risks and Uncertainties in the Opus One Annual Report for the fiscal year ended August 31.”^st, 2023, a copy of which is available on SEDAR at www.sedar.com and could cause actual events or results to differ materially from those projected in any forward-looking statements. Opus One has no intention and undertakes no obligation to update or revise any forward-looking information contained in this press release to reflect subsequent information, events or circumstances or otherwise, except as required by applicable law.

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

For more information, please contact:

Louis Morin
Chief Executive Officer and Director
Phone: (514) 591-3988

Michael W. Kinley, CPA, CA
President, Chief Financial Officer and Director
Phone: (902) 402-0388
[email protected]

Visit the Opus One website: www.OpusOneGold.com

A photo accompanying this announcement can be found at