O3 Mining Closes $10,080,000 “Bought Deal” Private Placement of Flow-Through Shares

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Toronto, Ontario (September 26, 2019) – O3 Mining Inc. (“O3 Mining”) (TSXV:OIII) is pleased to announce that, further to its announcement dated September 4, 2019, it has completed a “bought deal” brokered private placement of 2,400,000 common shares of the Corporation that will qualify as “flow-through shares” (within the meaning of subsection 66(15) of the Income Tax Act (Canada) and section 359.1 of the Taxation Act (Québec)) (“Flow-Through Shares“) at a price of C$4.20 per Flow-Through Share for aggregate gross proceeds of approximately C$10,080,000.

The Offering was led by Canaccord Genuity Corp. on behalf of a syndicate of underwriters that included National Bank Financial Inc., BMO Nesbitt Burns Inc., CIBC World Markets Inc., Cormark Securities Inc., Desjardins Securities Inc., Echelon Wealth Partners Inc., Haywood Securities Inc., and Sprott Capital Partners L.P. (together, the “Underwriters“). In consideration for their services, the Corporation paid the Underwriters a cash commission equal to 5.0% of the gross proceeds of the Offering.

The gross proceeds from the sale of Flow-Through Shares will be used by the Corporation to incur “Canadian exploration expenses” that qualify as “flow-through mining expenditures” (as both terms are defined in the Income Tax Act (Canada)) (the “Qualifying Expenditures“) related to the Corporation’s projects in Québec. The Qualifying Expenditures will be renounced in favour of the subscribers of Flow-Through Shares with an effective date no later than December 31, 2019 and in the aggregate amount of not less than the total amount of the gross proceeds raised from the issuance of Flow-Through Shares.

All securities issued under the Offering will be subject to a hold period expiring four months and one day which will expire January 26, 2019. The Offering is subject to final acceptance of the TSX Venture Exchange. The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

About O3 Mining Inc.

O3 Mining’s mission is to become a premier gold exploration company in Canada and an emerging consolidator of exploration properties in prospective gold camps in Canada – focused on projects in Ontario and Québec – with a goal of becoming a multi-million ounce, high-growth company.

O3 Mining is well-capitalized and holds a 100% interest in the Marban Block Project and the Garrison Project. The Marban Block Project is located in the heart of Québec’s prolific Abitibi gold mining district and comprised of four contiguous claim groups in the Malartic mining camp – Norlartic, First Canadian, Marban and Gold Hawk – and currently consists of 30 mining claims and three mining concessions that cover 1,023 hectares. The Garrison Project is located in the Larder Lake Mining Division in Northern Ontario and comprised of three main deposits – the Garrcon, Jonpol and 903 deposits – as well as the past-producing Buffonta mine and the Gold Pike mine property.

For further information on O3 Mining, please contact:

José Vizquerra Benavides
President, CEO and Director
416 363 8653

Cautionary Note Regarding Forward-Looking Information

This news release contains “forward -looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, the use of proceeds of the Offering; the timing and ability of the Corporation, if at all, to obtain final approval of the Offering from the TSX Venture Exchange; the tax treatment of the Flow-Through Shares; the timing of the tax renunciation to the subscribers, objectives, goals or future plans; statements regarding exploration results and exploration plans. This forward-looking information is based on reasonable assumptions and estimates of management of the Corporation, at the time it was made, involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the companies to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, risks relating to the completion of the transactions described herein. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, the parties cannot assure shareholders and prospective purchasers of securities that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither party nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Neither party undertakes, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by 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 this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

O3 Mining Announces C$10,080,000 “Bought Deal” Offering

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Toronto, Ontario (September 4, 2019) – O3 Mining Inc. (TSXV:OIII, “O3 Mining” or the “Corporation”) is pleased to announce it has entered into an agreement with Canaccord Genuity Corp. on behalf of a syndicate of underwriters (collectively, the “Underwriters“) pursuant to which the Underwriters have agreed to purchase, on a “bought deal” private placement basis, 2,400,000 common shares of the Corporation that will qualify as “flow-through shares” (within the meaning of subsection 66(15) of the Income Tax Act (Canada) and section 359.1 of the Taxation Act (Québec)) (“Flow-Through Shares“). The 2,400,000 Flow-Through Shares will be issued at a price of C$4.20 per Flow-Through Share for aggregate gross proceeds of C$10,080,000 (the “Offering“), representing an approximate 61.5% premium to the closing price of the Corporation’s common shares on the TSX Venture Exchange on September 3, 2019.

In addition, the Corporation has agreed to grant the Underwriters an option (the “Underwriters’ Option“) to sell up to an additional 360,000 Flow-Through Shares, at a price of C$4.20 per share, for additional gross proceeds to the Corporation of up to C$1,512,000. The Underwriters’ Option is exercisable up to 48 hours prior to the Closing Date (as defined herein) of the Offering.

The gross proceeds from the sale of Flow-Through Shares will be used by the Corporation to incur “Canadian exploration expenses” that qualify as “flow-through mining expenditures” (as both terms are defined in the Income Tax Act (Canada)) (the “Qualifying Expenditures“) related to the Corporation’s projects in Québec. The Qualifying Expenditures will be renounced in favour of the subscribers of Flow-Through Shares with an effective date no later than December 31, 2019 and in the aggregate amount of not less than the total amount of the gross proceeds raised from the issuance of Flow-Through Shares.

The Offering is being made by way of private placement in Canada. The Flow-Through Shares will be subject to a four month hold period under applicable securities laws in Canada. The offering is expected to close on or about September 26, 2019 (the “Closing Date“), subject to the satisfaction or waiver of the customary closing conditions and the conditional listing approval of the TSX Venture Exchange.

This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein in the United States. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to the account or benefit of a U.S. person absent an exemption from the registration requirements of such Act.

About O3 Mining Inc.

O3 Mining’s mission is to become a premier gold exploration company in Canada and an emerging consolidator of exploration properties in prospective gold camps in Canada – focused on projects in Québec and Ontario – with a goal of becoming a multi-million ounce, high-growth company.

O3 Mining is well-capitalized and holds a 100% interest in various properties in Québec (435,000 hectares) and Ontario (25,000 hectares). O3 Mining controls 61,000 hectares in Val- d’Or and over 50 kilometres of strike length of the Cadillac Larder break. It comprises a global resource of 3,125,211 gold ounces in Val-d’Or (2,066,154 gold ounces of measured and indicated resources at 1.40 g/t Au and 1,059,057 gold ounces of inferred resources at 2.95 g/t Au). The Corporation also holds 12,000 hectares in Ontario at its Garrison project with over 1,570,000 gold ounces of measured and indicated resources at 1.12 g/t Au. The Corporation also has assets in the James Bay and Chibougamau regions of Québec and in the Hemlo district in Ontario.

For further information on O3 Mining, please contact:

José Vizquerra Benavides
President, CEO & Director
416 363 8653

Cautionary Note Regarding Forward-Looking Information

This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. The information in this news release about the transaction; and any other information herein that is not a historical fact may be “forward-looking information”. Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, “management’s view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Corporation, at the time it was made, involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the companies to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, risks relating to the completion of the transactions described herein. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, the parties cannot assure shareholders and prospective purchasers of securities that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither party nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Neither party undertakes, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by 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 this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

O3 Mining Announces 50,000 Meter Drill Program Work Commences on Val D’Or Properties

Toronto, Ontario (September 4, 2019) – O3 Mining Inc. (TSXV:OIII, “O3 Mining” or the “Corporation”) is pleased to announce that it has initiated a 50,000-meter drill program on its Val d’Or properties.

José Vizquerra Benavides, President and CEO, commented: “The financings represent an important milestone. We are initiating work on the Bulldog/Centremaque properties in the Val d’ Or area of the prolific Abitibi gold district. Our plan is to commence an aggressive exploration program to confirm, upgrade and expand the current resources with a 50,000-meter drill program. O3 Mining is excited to initiate work in a World Class district that has historically produced over 30 million ounces of gold.”

Drilling has commenced in the Centremaque area with the objectives of extending the current mineralization. Two additional drill rigs will be mobilized in the coming weeks on the recently discovered Bulldog zone which has recently returned important gold values including 10.87 g/t Au over 4.5 meters in hole OAX-18-245 (see Alexandria Minerals press release dated December 11, 2018). The Bulldog zone was discovered at the end of 2018 and has seen no follow-up. Mineralisation at Bulldog is hosted in strongly sheared and altered porphyry intrusions potentially analogous to Canadian Malartic. The Bulldog zone is open in all directions.

About O3 Mining Inc.

O3 Mining is an emerging consolidator of exploration properties in prospective gold camps in Canada – focused on projects in Québec and Ontario – with a goal of becoming a multi-million ounce, high-growth company. The Company’s goal is to become one of the premier gold exploration companies in Canada.

O3 Mining is well-capitalized and holds a 100% interest in a number of properties in Québec (435,000 hectares) and Ontario (25,000 hectares). O3 Mining controls 61,000 hectares in Val-d’Or and over 50 kilometres of strike length of the Cadillac Larder break. The Company’s projects host resources of 2,066,154 gold ounces of measured and indicated resources at 1.40 g/t Au and 1,059,057 gold ounces of inferred resources at 2.95 g/t Au in Val d’Or area, and also holds the Garrison project in Ontario with over 1,570,000 gold ounces of measured and indicated resources at 1.12 g/t Au. O3 Mining also has a portfolio of assets in the James Bay and Chibougamau regions of Québec and in the Hemlo district in Ontario.

Technical Information

The scientific and technical content of this press release has been reviewed and approved by Mr. Pascal Simard, Eng, B.Sc. Exploration Manager, Northern Quebec for Osisko Mining Inc, who is a “Qualified Person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

Details regarding the Marban deposit may be found in the technical report prepared pursuant to National Instrument 43-101 entitled “Updated Mineral Resource Technical Report, Marban Block Property, Quebec, Canada” dated July 28, 2016 (effective date: June 13, 2016), which is filed on www.sedar.com under the profile of NioGold Mining Corporation.

Details regarding the Orenada, Akasaba and Sleepy deposits may be found in the reports prepared pursuant to National Instrument 43-101 entitled “NI 43-101 technical report and updated mineral resource estimate for the Orenada Zone 2 and 4 project, Orenada group properties” dated July 20, 2018 (effective date: July 6, 2018), “NI 43-101 technical report on the Akasaba project” dated March 1, 2013” and “NI 43-101 technical report on the Sleepy Lake property”, dated November 25, 2014, which are filed on www.sedar.com under the profile of Alexandria Minerals Corporation

Details regarding the Garrison deposit may be found in the report prepared pursuant to National Instrument 43-101 entitled “A Mineral Resource Estimate for the Garrcon, Jonpol, and 903 Zones at the Garrison Project, Garrison Township, Black River Matheson Area, Northereastern Ontario” dated April 4, 2019 (effective February 19, 2019), which is filed on www.sedar.com under the issuer profile of Osisko Mining Inc.

Details regarding the East Cadillac Gold deposit may be found in the report prepared pursuant to National Instrument 43-101 entitled “2019 technical report and mineral resource estimate, East Cadillac Gold Project, Val d’Or, Quebec”, dated June 7, 2019 (effective date: April 30, 2019), which is filed on www.sedar.com under the profile of Chalice Gold Mines Limited.

Cautionary Note Regarding Forward-Looking Information

This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. The information in this news release about the transaction; and any other information herein that is not a historical fact may be “forward-looking information”. Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, “management’s view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Corporation, at the time it was made, involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the companies to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, risks relating to the completion of the transactions described herein. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, the parties cannot assure shareholders and prospective purchasers of securities that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither party nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Neither party undertakes, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by 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 this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

For further information on O3 Mining, please contact:

José Vizquerra Benavides
President, CEO and Director
416 363 8653

Sign Up for Our Mailing List

To receive the latest news and updates regarding O3 Mining.

Thank you for subscribing! Subscribe Now

By entering your information, you consent to receive emails from O3 Mining and agree to our Privacy Policy.

2020
A Year
in Review

To Our
O3 Mining
Investors

What a year it has been! I want to personally thank you for supporting O3 Mining throughout this unprecedented time. At O3 Mining we experienced a year of tremendous growth as our exploration campaigns surpassed all expectations and we invested significant capital into our projects.

Our Year In Review

2020
A Year
in Review

What a year it has been! I want to personally thank you for supporting O3 Mining throughout this unprecedented time. At O3 Mining we experienced a year of tremendous growth as our exploration campaigns surpassed all expectations and we invested significant capital into our projects.

Our Year In Review