O3 Mining Intersects 3.1 G/T Au Over 7.8 Metres and Identifies a New Zone Within The Skarn Corridor on the Alpha Property

Toronto, December 20, 2019 – O3 Mining Inc. (TSX.V:OIII) (“O3 Mining” or the “Corporation”) is pleased to provide new results from the ongoing drilling program on the Alpha property, located 5 kilometres (km) southeast of Val D’Or, Quebec.

Current drilling on the Alpha property has identified a new mineralized zone within the Skarn Corridor approximately 400 metres north of the Cadillac Larder Lake Fault. The Alpha property comprises up to four different corridors of mineralization, namely Cadillac, Skarn, Anamaque and Sigma-Lamaque (Figure 1).

These corridors group mineral occurrences showing comparable mineralization styles that are spatially located along specific structural corridors. New analytical results include 3.1 g/t Au over 7.8 metres in O3AL-19-273, within the new skarn-type zone (Figure 2). O3 Mining President and Chief Executive Officer, Jose Vizquerra Benavides, commented: “This result supports the concept of the skarn corridor and opens the potential for a new zone to the north of the Cadillac Corridor. O3 Mining will continue to demonstrate the continuity of this new zone.” details.

Table 1: Drill Hole Intercepts (only intercepts above 5 g/t Au * m are reported)

Drill Hole ID From (m) To (m) Length (m) Au (g/t) uncut Mineralized Zone
CAX-19-020 312.0 312.9 0.9 8.5 Pontiac
and 375.8 376.7 0.9 13.5
OAX-19-263 298.1 299.1 1.0 6.3 Orenada Zone 4
O3AL-19-273 125.7 133.5 7.8 3.1 New Skarn
O3AL-19-295 175.6 177.4 1.8 3.2 Pontiac

NOTE: True width determination is currently unknown but is estimated at 65-80% of the reported core length interval for the zones

Table 2: Drill Hole Details

Drill Hole ID Azimuth (˚) Dip (˚) Length (m) UTM E UTM N
CAX-19-017 196 -50 450 295536 5326008
CAX-19-018 196 -50 444 295737 5326046
O3AL-19-270 196 -50 201 296928 5325824
O3AL-19-273 196 -58 465 297278 5325922
O3AL-19-295 196 -48 498 296270 5325908
O3CE-19-020 196 -50 429 295160 5326347
O3CE-19-021 196 -50 288 295090 5326157
OAX-19-263 196 -50 330 297921 5325628
OAX-19-264 196 -50 558 298150 5325767
OAX-19-265 16 -60 428 298150 5325767
OAX-19-267 360 -55 486 298306 5325701
OAX-19-268 360 -50 516 297814 5325797

Drill hole O3AL-19-273 features strongly chloritized graywacke and porphyritic dyke containing 1% pyrrhotite, sphalerite and chalcopyrite veinlets.  The Skarn Corridor, which extends over 15 km across the Alpha property, contains the Akasaba and Mid Canada Au-Cu deposits as well as several other Au-Cu mineral occurrences, all related to mafic volcanic and intrusive rocks. The alteration assemblage at these occurrences includes garnet, chlorite, epidote, magnetite and pyrrhotite, typical of skarn deposits.

Figure 1: Alpha property map

Figure 2: Epsilon, Bulldog and Pontiac Sector map

Qualified Person

The scientific and technical content of this news release has been reviewed, prepared and approved by Mr. Sebastien Vigneau, P.Geo. (OGQ #993), Exploration Manager, who is a “qualified person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).

 

Quality Control and Reporting Protocols

True width determination is currently unknown but is estimated at 65-80% of the reported core length interval for the zones. Assays are uncut except where indicated. Intercepts occur within geological confines of major zones but have not been correlated to individual vein domains at this time. Half-core samples are shipped to Agat laboratory in Val D’Or, Quebec and Mississauga, Ontario for assaying. The core is crushed to 75% passing -2 mm (10 mesh), a 250 g split of this material is pulverized to 85% passing 75 microns (200 mesh) and 50 g is analyzed by Fire Assay (FA) with an Atomic Absorption Spectrometry (AAS) finish. Samples assaying >10.0 g/t Au are re-analyzed with a gravimetric finish using a 50 g charge. Commercial certified standard material and blanks are systematically inserted by O3 Mining’s geologists into the sample chain after every 18 core samples as part of the QA/QC program. Third-party assays are submitted to other designated laboratories for 5% of all samples. Drill program design, Quality Assurance/Quality Control (“QA/QC”) and interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices.

 

About O3 Mining Inc.

O3 Mining is an emerging consolidator of exploration properties in prospective gold camps in Canada – focused on projects in Quebec and Ontario – with a goal of becoming a multi-million ounce, high-growth company. The Corporation’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 Quebec (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 Lake Faut. O3 Mining also has a portfolio of assets in the James Bay and Chibougamau regions of Quebec and in the Hemlo district in Ontario.

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
Telephone: (416) 363-8563

O3 Mining Completes Acquisition of Mining Claims from Kinross Gold

Toronto, December 18, 2019 – O3 Mining Inc. (TSX.V:OIII)(“O3 Mining” or the “Corporation“) is pleased to announce that it has completed the purchase of four mining claims located in the township of Bourlamaque in the Province of Quebec, Canada (collectively, the “Acquired Claims“) from Kinross Gold Corporation (“Kinross Gold“) pursuant to an asset purchase agreement with Kinross Gold dated December 18, 2019 (the “Asset Purchase Agreement“).

Pursuant to the Asset Purchase Agreement, the Corporation purchased the Acquired Claims in exchange for (i) C$100,000 cash, (ii) 42,017 common shares of the Corporation, and (iii) a 2.0% net smelter returns royalty on any minerals produced from the Acquired Claims. Under the terms of the Asset Purchase Agreement, the Corporation has the exclusive right to buy back 50% of the net smelter returns royalty upon making a cash payment of $1,000,000 to Kinross Gold.

José Vizquerra Benavides, President and Chief Executive Officer of O3 Mining, commented: “The recent acquisition of the Simkar Gold project and the Acquired Claims finalizes the consolidation of the strategic land position to the north east of the Alpha property. Our exploration team is looking forward to integrating and furthering their knowledge on these new claims as we move forward with our 50,000 meter winter campaign in the Val D’Or camp.”

The transaction remains subject to the final approval of the TSX Venture Exchange.

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 Corporation’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. O3 Mining also has a portfolio of assets in the James Bay and Chibougamau regions of Québec and in the Hemlo district in Ontario.

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

Telephone: (416) 363-8653

O3 Mining Acquires Simkar Property from Monarch Gold

Toronto, December 13, 2019 – O3 Mining Inc. (TSX.V: OIII) (“O3 Mining” or the “Corporation“) is pleased to announce that it has completed the purchase of the Simkar property from Monarch Gold Corporation (“Monarch“) pursuant to an asset purchase agreement dated December 12, 2019 (the “Asset Purchase Agreement“). The Simkar property is located 20 kilometres east of Val-d’Or and includes two mining concessions and 15 claims covering an area of 5 square kilometres.

Pursuant to the Asset Purchase Agreement, the Corporation acquired the Simkar property in exchange for (i) C$140,000 in cash, (ii) 435,000 common shares of the Corporation, and (iii) 435,000 common share purchase warrants of the Corporation, with each warrant entitling Monarch to purchase one additional common share of the Corporation at a price of $4.20 per share for a three-year period.

The transaction remains subject to the final approval of the TSX Venture Exchange.

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 Corporation’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 Corporation’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.

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

Telephone: (416) 363-8653

O3 Mining Intersects 9.3 g/t Au Over 6.0 m, Including 25.7 g/t Au Over 1.9 m at Epsilon

Toronto, December 12, 2019 – O3 Mining Inc. (TSX.V: OIII) (“O3 Mining” or the “Corporation”) is pleased to provide new results from the ongoing drilling program on the Alpha property, located 5 kilometres (km) southeast of Val D’Or, Quebec. The area includes the claims under option from Golden Valley Mines Ltd. (Centremaque), of which O3 Mining has the option to acquire 80% interest.

Current drilling is focused on the Cadillac Larder Lake Fault corridor, specifically Epsilon and Pontiac East zones, (Bulldog West Extension zone (Press Release October 21, 2019) is renamed Pontiac East zone) within the Alpha property. The Epsilon and Pontiac East zones are on each side of the sheared ultramafic volcanics of the Piche Group. Follow up drilling at Bulldog, located 1.5 km east, is pending freeze-up conditions to allow access.

New analytical results include 9.3 g/t Au over 6.0 metres, including 25.7 g/t Au over 1.9 metres in

CAX-19-016. O3 Mining President and Chief Executive Officer, Jose Vizquerra Benavides, commented: “The drilling campaign on the Alpha property has significantly expanded the Epsilon zone, now being traced over a 1.5 km strike and opened laterally, as well as continue to confirm mineralized intercepts within the Pontiac sediments. This new zone opens a possibility to a mineralized envelope of significant width.”

Table 1: Drill Hole Intercepts (only intercepts above 5 g/t Au * m are reported)

Drill Hole ID From (m) To (m) Length (m) Au uncut (g/t) Mineralized Zone
CAX-19-012 126.5 128.2 1.7 3.4 Epsilon
CAX-19-013 148.0 154.0 6.0 1.4 Epsilon
CAX-19-014 258.5 261.0 2.5 2.6 Pontiac East
CAX-19-015 147.0 148.5 1.5 3.4 Pontiac East
CAX-19-016 137.0 143.0 6.0 9.3 Epsilon
including 141.1 143.0 1.9 25.7
CAX-19-266 552.5 561.5 9.0 1.0 Bulldog

Table 2: Drill Hole Details

Drill Hole ID Azimuth (°) Dip (°) Length (m) UTM E UTM N
CAX-19-012 196 -50 402 295319 5326493
CAX-19-013 215 -50 450 295319 5326493
CAX-19-014 196 -60 345 295559 5326304
CAX-19-015 196 -79 435 295559 5326304
CAX-19-016 16 -64 300 295497 5326325
OAX-19-260 196 -50 312 297783 5325716
OAX-19-261 196 -50 417 297814 5235797
OAX-19-266 196 -50 576 298318 5325728
OAX-19-269 196 -50 405 296967 5325943

Mineralization in CAX-19-016, in the Epsilon zone, is hosted within sheared sericitized and carbonatized graywackes and tuffs with quartz tourmaline carbonate veins. There is 2% arsenopyrite and trace pyrite within veins or disseminated in the tourmalinized host-rock. Within this larger altered zone, there are smokey-quartz veins associated with visible gold and arsenopyrite. These low angle smokey-quartz veins are typical of the Orenada Zone 4 type mineralization, located 1.5 km to the east.

The Pontiac East zone is characterized by albitized, carbonatized and silicified sediments of the Pontiac Group, containing quartz-carbonate veinlets, disseminated pyrite – arsenopyrite mineralization and visible gold locally.

Qualified Person

The scientific and technical content of this news release has been reviewed, prepared and approved by Mr. Sebastien Vigneau, P.Geo. (OGQ #993), Exploration Manager, who is a “qualified person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).

Quality Control and Reporting Protocols

True width determination is currently unknown but is estimated at 65-80% of the reported core length interval for the zones. Assays are uncut except where indicated. Intercepts occur within geological confines of major zones but have not been correlated to individual vein domains at this time. Half-core samples are shipped to Agat laboratory in Val D’Or, Quebec and Mississauga, Ontario for assaying. The core is crushed to 75% passing -2 mm (10 mesh), a 250 g split of this material is pulverized to 85% passing 75 microns (200 mesh) and 50 g is analyzed by Fire Assay (FA) with an Atomic Absorption Spectrometry (AAS) finish. Samples assaying >10.0 g/t Au are re-analyzed with a gravimetric finish using a 50 g charge. Commercial certified standard material and blanks are systematically inserted by O3 Mining’s geologists into the sample chain after every 18 core samples as part of the QA/QC program. Third-party assays are submitted to other designated laboratories for 5% of all samples. Drill program design, Quality Assurance/Quality Control (“QA/QC”) and interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices.

About O3 Mining Inc.

O3 Mining is an emerging consolidator of exploration properties in prospective gold camps in Canada – focused on projects in Quebec and Ontario – with a goal of becoming a multi-million ounce, high-growth company. The Corporation’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 Quebec (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 Lake Faut. The Corporation’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 Quebec and in the Hemlo district in Ontario.

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

416 848 9504

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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