O3 Mining Temporarily Suspends Operations

In Accordance with Quebec Government Province-Wide COVID-19 Shutdown

Toronto, March 23, 2020 – O3 Mining Inc. (TSX.V: OIII) (“O3 Mining” or the “Corporation”) announced today that in response to the order of the Government of Quebec to close all non-essential businesses until April 13, 2020, it has suspended operations in Quebec.

To date, O3 Mining has had no suspected or confirmed cases of COVID-19, and has put in place a COVID-19 protocol to protect its workforce. The health and safety of O3 Mining’s workforce, their families and the communities in which we operate remains the number one concern for O3 Mining. O3 Mining is committed to fully supporting safety measures for our workforce, families and communities. O3 Mining thanks our workforce, partners and all stakeholders for their understanding and support, and looks forward to resuming operations as soon as possible.

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.

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 scope and duration of the government ordered shutdown described herein, further steps that might be taken to mitigate the spread of COVID-19; the impact of COVID-19 related disruptions in relation to the Corporation’s business operations including upon its employees, suppliers, facilities and other stakeholders; uncertainties and risk that have arisen and may arise in relation to travel, and other financial market and social impacts from COVID-19 and responses to COVID 19. 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 Interests In The Regcourt And Louvem Properties From Monarch Gold

Toronto, March 17, 2020 – O3 Mining Inc. (TSX.V: OIII) (“O3 Mining” or the “Corporation”) is pleased to announce that it has completed the purchase of the Regcourt gold property (the “Regcourt Property“) and the Louvem property (the “Louvem Property“) from Monarch Gold Corporation (“Monarch“) pursuant to an asset purchase agreement dated March 16, 2020 (the “Asset Purchase Agreement“). The Regcourt Property is located at the eastern end of the Val-d’Or gold mining camp, approximately 30 kilometres east of Val-d’Or, Québec, and consists of 88 mining claims near the centre of the western border of Vauquelin Township of Québec. The Louvem Property consists of 12 mining claims and is located five kilometres east of Malartic, Québec.

In accordance with the Asset Purchase Agreement, the Corporation: (i) acquired the Regcourt Property in exchange for the issuance of 113,637 common shares of the Corporation; (ii) acquired a 50% interest in the Louvem Property in exchange for the issuance of 4,546 common shares of the Corporation, subject to a 1% NSR royalty granted to Monarch on the Louvem Property with a 0.5% NSR royalty buy-back for CDN $300,000; and (iii) will acquire the remaining 50% interest in the Louvem Property for cash consideration of CDN $10,000 within two days of the receipt by Monarch of a declaratory judgment in respect of the Louvem Property. All common shares issued to Monarch are subject to a four month and one day hold period.

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

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.

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 6.4 G/T Au Over 7.5 Metres At Alpha

Bulldog Extends Up To 500 M at Depth

Toronto, March 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.

Current drilling on the Alpha property continues to show the continuity of the Bulldog zone at depth. New analytical results from the Bulldog zone include 6.4 g/t Au over 7.5 m in hole O3AL-20-290B. This drill hole intersected the Bulldog zone at a vertical depth of 500 m and approximately 200 m east of the previously reported drill hole O3AL-20-287 (See Press Release February 28, 2020).

The Bulldog zone can now be traced over 500 metres vertically and between 100 and 200 metres laterally. The zone remains open at depth. Mineralization at the Bulldog zone is associated with sheared, carbonatized, and sericitized wackes and intermediate to felsic dykes containing 1–3% fine disseminated pyrite and 10% dismembered quartz veins. Three drill rigs continue to follow up on significant intercepts on the Alpha property, including one at Bulldog and two at Epsilon.

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-20-286B

including
521.1 526.2 5.1 2.9 Bulldog
521.1 521.9 0.8 13.0
O3AL-20-290B

including
including
including
589.9 622.7 32.8 1.9 Bulldog
589.9 597.4 7.5 6.4
599.9 602.4 2.5 3.2
619.8 620.8 1.0 5.7
O3AL-20-299C 43.6 44.1 0.5 14.9 Unassigned
O3AL-20-300 311.5 313.3 1.8 2.1 Bulldog

NOTE: True width determination is currently unknown but is estimated at 65-80% of the reported core length interval for the zones. Results from holes 286B and 299C are partial, Bulldog zone assays results pending.

Table 2: Drill Hole Details

Drill Hole ID Azimuth (°) Dip (°) Length (m) UTM E UTM N
O3AL-20-286B 195 -57 637 297421 5326041
O3AL-20-290B 198 -62 764 297541 5326017
O3AL-20-299C 196 -66 881 297236 5326119
O3AL-20-300 196 -50 516 297577 5325876

O3AL-20-286B intersected 2.9 g/t Au over 5.1 m associated to the Bulldog zone. The mineralization is related to alternating, sheared and carbonatized wacke, intermediate sericitized dykes and albitized felsic dykes containing 1% disseminated pyrite.

O3AL-20-290B intersected 1.9 g/t Au over 32.8 m associated to the Bulldog zone. The mineralization is related to altered wacke crosscut by an intermediate dyke and three albitized felsic dykes. The intermediate intrusion is strongly sheared and sericitized and contains 5% dismembered quartz veins with 2 to 5% pyrite and returned 6.4 g/t Au over 7.5 m. The three felsic dykes have anomalous gold values while the wacke surrounding those intrusions returned 3.2 g/t Au over 2.5 m and 5.7 g/t Au over 1.0 m..

O3AL-20-299C intersected 14.9 g/t Au over 0.5 m associated with a currently unassigned zone. Mineralization is within a granodiorite dyke containing up to 1% coarse grained pyrite.

O3AL-20-300 intersected 2.1 g/t Au over 1.8 m associated with the Bulldog zone. The mineralization consists of 1-2% fine to medium grained disseminated pyrite with traces of chalcopyrite and pyrrhotite within a moderately sericitized and carbonated wacke.

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

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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