O3 Mining Intersects 2.4 G/T Au Over 13.5 Metres Including 6.9 G/T Au Over 1.5 Metres At Alpha

Intersects 67.3 g/t Au over 0.9 metres at the New Skarn Zone

Toronto, February 28, 2020 – O3 Mining Inc. (TSX.V: OIII) (“O3 Mining” or the “Corporation”) is pleased to provide new results from the ongoing 50,000 metre drilling program on it’s Val D’Or, Quebec properties.

Current drilling on the Alpha property continues to grow the Bulldog zone to the east and at depth, as well as grow the Skarn corridor. Two drill rigs continue to follow up on significant intercepts as part of the 25,000 m drilling program at Alpha.

New analytical results from the Bulldog zone include 2.4 g/t Au over 13.5 m including 6.9 g/t Au over 1.5 m in hole O3AL-20-287, 1.6 g/t Au over 7.0 m including 7.6 g/t Au over 0.5 m in hole O3AL-20-288, and 5.7 g/t Au over 2.0 m in hole O3AL-20-289B. Intercepts in holes O3AL-20-288 and O3AL-20-289B are located 100 m to the east of those in holes O3AL-20-284 and O3AL-20-285A, reported on February 12 (See Press Release February 12, 2020) while the intercept in hole O3AL-20-287 is located 150 m below O3AL-20-285A. These new results support the eastward and depth extensions of the Bulldog zone.

Additionally, drill hole O3AL-20-287 intersected 67.3 g/t Au over 0.9 m at the same stratigraphic position as the New Skarn zone approximately 130 m below the previously reported 3.1 g/t Au over 7.8 m intercepts in hole O3AL-19-273 (See Press Release December 20, 2019).

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
O3AL-20-287

and
including
324.5 325.4 0.9 67.3 New skarn
536.7 538.3 1.6 7.2 Bulldog
536.7 537.2 0.5 14.6
O3AL-20-287

including
550.5 564.0 13.5 2.4 Bulldog
550.5 552.0 1.5 6.9
O3AL-20-288

including
445.0 452.0 7.0 1.6 Bulldog
450.4 450.9 0.5 7.6
O3AL-20-288

and
482.0 487.5 5.5 1.9 Bulldog
549.0 551.8 2.8 3.4
O3AL-20-289B 309.0 311.0 2.0 5.7 Bulldog
O3AL-20-298 338.0 338.6 0.6 11.4 Veins in Cadillac sediments

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
O3AL-20-287 196 -50 576 297321 5326059
O3AL-20-288 195 -60 579 297492 5325937
O3AL-20-289B 195 -57 434 297464 5325852
O3AL-20-298 196 -55 604 297208 5326034

Gold mineralization in these recent drill holes display the geological features typical of the Bulldog zone, which is a strongly sheared felsic intrusion altered by strong sericitization, ankeritization and minor albitization. The intrusion contains 2% disseminated pyrite and 10% dismembered quartz veins.

O3AL-20-287 intersected 67.3 g/t Au over 0.9 m within the New Skarn zone, and 2.4 g/t Au over 13.5 m within the Bulldog zone. The first interval consists of 1-2% pyrite-pyrrhotite and visible gold within a weakly ankerite altered and sheared greywacke. The second interval is within the Bulldog zone and consists of up to 2% finely disseminated pyrite within a moderately sericitized and ankeritised felsic dyke. This larger interval includes a strong pervasive sericite and moderate albiteankerite altered interval associated with 1-3% disseminated pyrite returning 6.9 g/t Au over 1.5 m.

O3AL-20-288 intersected 1.6 g/t Au over 7.0 m including 7.6 g/t Au over 0.5 m within the Bulldog zone. Mineralization consists of strong pervasive sericite and moderate albite-ankerite alteration associated with 1-3% disseminated pyrite within a strongly sheared felsic porphyritic intrusion containing dismembered quartz veinlets.

O3AL-20-289B intersected 5.7 g/t Au over 2.0 m within the Bulldog zone. Mineralization consists of 2-6% disseminated pyrite and trace visible gold within a sheared and strongly sericite and albiteankerite altered felsic porphyritic intrusion.

O3AL-20-298 intersected 11.4 g/t Au over 0.6 m. Mineralization consists of 1-2% millimetric pyrite and pyrrhotite veinlets within a sheared, moderately albite-ankerite and weak sericite altered greywacke.

Figure 1: Alpha Property Map

Figure 2: Alpha Property Drilling

Qualified Person

The scientific and technical content of this news release has been reviewed, prepared and approved by Mr. Louis Gariepy, Eng. (OIQ #107538), VP Exploration, 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 reanalyzed 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 are performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. 

About O3 Mining Inc.

O3 Mining, an Osisko group of companies, 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) 363-8653

O3 Mining Grants Stock Options And Restricted Securities

Toronto, February 14, 2020 – O3 Mining Inc. (TSX.V: OIII) (“O3 Mining” or the “Corporation”) announces that today it has granted to certain officers, directors, employees and/or consultants of the Corporation (i) an aggregate of 1,370,000 options to acquire common shares of the Corporation (“Options“), and (ii) an aggregate of 150,000 restricted share units of the Corporation (“RSUs“). The Options have an exercise price of $2.50 per share, have a five-year term from the date of grant, and vest annually in equal thirds beginning on the first anniversary of the date of grant. The RSUs are subject to a three-year cliff vesting period from the date of grant.

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 Lake Faut. 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 Québec 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) 363-8653

O3 Mining Intersects 5.3 G/T Au Over 8.6 Metres Including 29.0 G/T Au Over 1.0 Metre At Alpha

Toronto, February 12, 2020 – O3 Mining Inc. (TSX.V: OIII) (“O3 Mining” or the “Corporation”) is pleased to provide new results from the ongoing 50,000 metre drilling program on it’s Val D’Or, Quebec properties. The 2020 drilling campaign on the Alpha property continues to focus on the Cadillac Larder Lake Fault corridor, specifically the Bulldog, and the Epsilon zones, with two drill rigs now on the Alpha property and a third rig starting later this month.

Drilling Highlights

• Total of 5 drills: Third drill rig moves to the Alpha property; two drill rigs at East Cadillac property

• Bulldog zone expands 100 m to the East (8.2m @ 4.8 g/t; 8.6m @ 5.3 g/t)

• Epsilon zone continues to show continuity (1.3m @ 6.8 g/t)

New analytical results from the Bulldog zone include 4.8 g/t Au over 8.2 m and 6.7 g/t Au over 2.9 m in hole O3AL-20-284, and 5.3 g/t Au over 8.6 m including 29.0 g/t Au over 1.0 m and 6.0 g/t Au over 2.8 m in hole O3AL-20-285A. Both drill holes are spaced 90 m and are located 100 m to the east of historic drill hole OAX-18-245 and follow up on a historic intercept of 6.2 g/t Au over 10.5 m, including 10.9 g/t Au over 4.5 m (See Press Release December 2018). O3 Mining President and Chief Executive Officer, Jose Vizquerra Benavides, commented: “The Bulldog zone can now be traced over 200 x 100 m and remains open towards the east and at depth. Further drilling will follow up on these significant intercepts at Bulldog as part of the 10,000 m remaining to be completed as part of the 2020 drill program at Alpha.” Additional significant results in 3 new holes from the Epsilon zone demonstrate the continuity of the zone over a strike length of 1.5 km. This zone consists of quartz veins surrounded by a tourmalinized and sericitized envelope containing disseminated arsenopyrite north of the Cadillac Larder Lake Fault. This geological context relates to the Orenada Zone 4 deposit, 2.5 km East.

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
O3AL-19-274 132.5 133.8 1.3 6.8 Epsilon HW
237.2 238.0 0.8 6.5 Epsilon
273.5 274.8 1.3 7.2 Epsilon FW
343.5 345.0 1.5 3.5 Epsilon FW
O3AL-19-281 180.5 181.1 0.6 9.1 Epsilon
O3AL-19-282 294.7 297.2 2.5 3.4 Epsilon
O3AL-20-284

and
267.9 276.1 8.2 4.8 Bulldog
279.1 282.0 2.9 6.7
O3AL-20-285A

including
376.2 384.8 8.6 5.3 Bulldog
383.8 384.8 1.0 29.0
O3AL-20-285A 393.2 396.0 2.8 6.0 Bulldog

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
O3AL-19-274 196 -50 375 294964 5326733
O3AL-19-276A 196 -50 435 294839 5326353
O3AL-19-277 196 -50 312 295123 5326577
O3AL-19-278 196 -50 447 294806 5325973
O3AL-19-279 196 -50 390 294706 5325673
O3AL-19-280 196 -48 498 294595 5325385
O3AL-19-281 196 -67 207 295127 5326587
O3AL-19-282 196 -50 594 295230 5326537
O3AL-19-296 196 -50 496 296002 5325858
O3AL-19-297 196 -50 588 295978 5325786
O3AL-20-284 196 -55 378 297364 5325870
O3AL-20-285A 196 -60 483 297392 5325955

Mineralization in drill holes O3AL-20-284 and O3AL-20-285A is distributed in two intervals 10 metres apart.

The northern interval of hole O3AL-20-284 is restricted to a strongly sheared felsic intrusion altered by strong sericitization and ankeritization. The intrusion contains 2% disseminated pyrite and 10% dismembered quartz veins. In the southern intervals, the gold is associated with a smaller intrusion, but mineralization extends into a larger alteration halo of sericitized and ankeritized wacke.

The northern interval of hole O3AL-20-285A is also restricted to the sericitized and ankeritized felsic intrusion containing 2% disseminated pyrite. The high-grade interval of 29.0 g/t Au over 1.0 m is associated with dismembered quartz veins containing visible gold. The southern interval is associated with a metre-long felsic intrusion and the strongly sericitized and ankeritized surrounding rocks.

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 are performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. 

About O3 Mining Inc.

O3 Mining, an Osisko group of companies, 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) 363-8653

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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