Author: o3mining

O3 MINING PEA WEBINAR TO BE HELD SEPTEMBER 8, 2020 @9:00 AM EST. To join the webinar, register here.

Toronto, September 8, 2020 – O3 Mining Inc. (TSX.V:OIII) (“O3 Mining” or the “Corporation”) is pleased to announce positive results from the independent preliminary economic assessment (“PEA”), prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”), for its 100% owned Marban project at the Malartic property, in the world-class mining region of Val D’Or in Québec, Canada.

With the PEA now complete, O3 Mining will begin working on a pre-feasibility study to advance the Marban project towards production as part of a staged development strategy while continuing its aggressive drilling programs aimed to maximize value creation for shareholders.

PEA Highlights*

• Long-term Gold Price of US$1,450/oz

• Exchange rate of C$1.00 = US$0.74

• After-tax net present value (“NPV”) (discount rate 5%) of $423 million

• After-tax internal rate of return (“IRR”) of 25.2%

• After-tax payback period 4.0 years

• Initial capital of (“CAPEX”) of $256 million including mine preproduction, processing, infrastructure (roads, power line relocation, tailings facility, ancillary buildings, and water management)

• Life of mine (“LOM”) of 15.2 years

• Average LOM strip ratio (W:O) of 5.9:1

• Total production of 60,356 kt of mill feed yielding 1.8 Moz Au

• Average annual gold production of 115,000 oz

• Average gold mill head grade of 1.13 g/t in years 1 to 10 (0.97 g/t for LOM)

• Average recovery of 93.7%

• Measured and indicated mineral resource of 54,151 kt at a 1.10 g/t Au grade

• Cash cost of US$741/oz

• All-in sustaining cost (“AISC”) of US$822/oz

Notes

* All figures are stated in Canadian dollars unless otherwise stated.

** Cautionary Statement: The reader is advised that the PEA summarized in this news release is intended to provide only an initial, high-level review of the project potential and design options. The PEA mine plan and economic model include numerous assumptions and the use of inferred mineral resources. Inferred mineral resources are considered to be too speculative to be used in an economic analysis except as allowed for by NI 43-101 for PEA studies. There is no guarantee that inferred mineral resources can be converted to indicated or measured mineral resources, and as such, there is no guarantee the project economics described herein will be achieved. 

The O3 Mining team is pleased to present the results of a PEA on its Marban Project, which unequivocally demonstrates the potential of O3 Mining to become a major North American gold producer, with a positive after-tax IRR of 25.2% and an after-tax NPV of C$423 million. The PEA supports an 11,000 tonnes per day open pit project with production spanning 15.2 years with robust economics at a US$1,450/oz gold price, with very attractive cash costs and AISC, low CAPEX and low capital intensity. The first 12 years will target production in excess of 130,000 ounces gold per year peaking at more than 161,000 ounces in Year 9.

“Marban has shown potential to become a highly profitable gold mine in one of the most prolific producing regions in Canada, supported with a PEA produced by the Ausenco team, one of the most experienced and reputable engineering firms working on gold projects in Canada. The Marban Geological team has demonstrated the ability to identify an abundance of gold resources over a very short period. The ongoing drill program will continue to add to and upgrade resources as we seek to move the project forward towards production,” commented Jose Vizquerra, President, CEO and Director of O3 Mining.

O3 Mining believes the Marban property has the geological potential to extend the LOM beyond the initial 15.2 years presented in the PEA as well as the opportunity to expand the scale of production by increasing the mineral resource through ongoing exploration and drilling. The Corporation’s goal is for Marban to be a cornerstone mine for its future growth in a mining-friendly jurisdiction. With a strong treasury to support its next steps, the Corporation plans to commence pre-feasibility and environmental impact studies, while continuing to explore the geological potential of its Marban property.

“O3 Mining was born out of a series of successful mining ventures on properties in the same Val D’Or region in Québec – ranked as the fourth best mining jurisdiction in the world and has produced over 30 million ounces of gold. O3 Mining is ready to maximize Marban’s value by advancing the studies to further refine and de-risk the project, which the Osisko Group has successfully done with other deposits in the past, such as Canadian Malartic,” added Mr. Vizquerra.

O3 Mining looks forward to working with its partners in the Abitibi region including the Malartic and Val D’Or municipalities and the Abitibiwinni, Lac Simon, Long Point, and Kitcisakik Anishinabeg First Nations as well with the support of the Québec and federal governments, to advance the Marban Project.

Overview

Ausenco Engineering Canada Inc. (“Ausenco”) was appointed as lead consultant on May 7, 2020, to prepare the PEA in accordance with NI 43-101, and was assisted by Moose Mountain Technical Services, Golder Associates Inc., and WSP Canada.

The Marban project is located on the Malartic property in the Abitibi gold district of Québec,

Canada. The Project area contains three past-producing mines (Marban, Norlartic and Kierens), which collectively produced 585,000 ounces of gold between 1959 and 1992. The land package owned by O3 Mining, in the heart of the Malartic, and Val D’Or gold mining camps, covers 125 square kilometres and is located 12 kilometres from the Canadian Malartic Mine and along the same shear structure as Wesdome’s Kiena deposit.

Financial Analysis

The economic analysis was performed assuming a 5% discount rate. On a pre-tax basis, the NPV is $715 million, the IRR is 31.5% and the payback period is 3.7 years. On an after-tax basis, the NPV is $423 million, the IRR is 25.2% and the payback period is 4.0 years. A summary of project economics is listed in (Table 1) and shown graphically in the figures below.

Table 1: Summary of project economics

Notes

* Cash costs consist of mining costs, processing costs, mine-level general & administrative expenses and refining charges and royalties.
** AISC includes cash costs plus sustaining capital, closure cost and salvage value.

Figure 1: Projected Annual and Cumulative LOM Post-Tax Unlevered Free Cash Flow

Sensitivity

A sensitivity analysis was conducted on the base case pre-tax and after-tax NPV and IRR of the Marban project, using the following variables: metal price, total capex (initial + sustaining), total operating cost and exchange rate. The tables below provide a summary of the sensitivity analysis.

Table 2a: Post-Tax NPV(5%) Sensitivity

Table 2b: Post-Tax IRR Sensitivity

Mineral Resource

The mineral resource is estimated from a drill hole database containing 5,808 drill holes consisting of 271,599 metres of drilling and 288,345 assay intervals. Data prior to 1984 was not used in the interpolation. The Marban deposit consists of 27 domains and the Kierens-Norlatic consists of 16 domains with gold grades capped at values between 10g/t Au and 100g/t Au and outlier restriction of gold grades during interpolation at values of 1.5g/t to 50 g/t Au depending on the domain. Blocks were assigned a classification based on the variography and drill hole spacing by domain, with measured blocks requiring three drill holes within 10 metres and indicated blocks requiring two drill holes within 30 metres.

The base case cut-off grade is 0.30 g/t Au based on a cut-off grade mill recovery of 87%, processing + general & administrative costs of CDN$15/tonne and a US$1,400/oz Au price, with smelter terms as detailed below. The underground resource is within a 3.5 g/t gradeshell. At these cut-offs, the total measured and indicated mineral resource is estimated at 54.1Mt at 1.10 g/t Au for a total of 1.9Moz (Table 3). Of the total resource 76% is considered measured and indicated mineral resources.

Table 3: Mineral Resource Estimate (effective date August 12, 2020)

Notes

1. The Mineral Resource estimate has been prepared by Sue Bird, P.Eng., an independent “qualified person” (within the meaning if NI 43-101).

2. Resources are reported using the 2014 CIM Definition Standards and were estimated in accordance with the CIM 2019 Best Practices Guidelines.

3. Mineral resources that are not mineral reserves do not have demonstrated economic viability.

4. The open pit mineral resource has been confined by a “reasonable prospects of eventual economic extraction” pit shell generated using the following assumptions: US$1,800/oz. Au at a currency exchange rate of 0.75 US$ per CDN$; 99.95% payable Au; CDN$4.30/oz Au offsite costs (refining, transport and insurance); a 3% NSR royalty; $16/t process and G&A costs; $2.60/t mining costs; grade dependent mill process recoveries; and pit slopes varying from 25 to 50 degree overall depending on geotechnical characteristics.

5. The underground mineral resource reports all material within a continuous 3.5g/t Au gradeshell

6. Metallurgical recovery is based on the formula: ln(Au)*0.0372+0.9017, maximum 96.7%

7. The specific gravity of the deposit has been determined by lithology as being between 2.67 and 2.81.

8. Numbers may not add due to rounding.

There are no other known factors or issues that materially affect the mineral resource estimate other than normal risks faced by mining projects in the province in terms of environmental, permitting, taxation, socio-economic, marketing, and political factors and additional risk factors as listed in the “Cautionary Note Regarding Forward-Looking Information” section below.

Mining

The mine plan includes 60Mt of mill feed and 356Mt of waste over the 15.2-year LOM. Mine planning is based on conventional open pit methods suited for the project location and local site requirements. Owner operated and managed open pit operations are anticipated to begin 9–12 months prior to mill start up, running for 13 years to pit exhaustion, then followed by 2.2 years of low-grade stockpile reclamation to the mill. The subset of mineral resources contained within the designed open pits, summarized in Table 4 with a 0.35g/t gold cut-off, forms the basis of the mine plan and production schedule.

Table 4: PEA Mine Plan Production Summary

Notes:

1. The PEA Mine Plan and Mill Feed estimates are a subset of the August 12, 2020 mineral resource estimates and are based on open pit mine engineering and technical information developed at a scoping level for the Marban and Kierens-Norlartic deposit.

2. The PEA Mine Plan and Mill Feed estimates are mined tonnes and grade, the reference point is the primary crusher.

3. Waste/ore contact edge dilution of 20% at 0.15 g/t is applied to the insitu Mineral Resources. Mining Recovery of 100% of diluted tonnages is assumed.

4. Cutoff grade of 0.35 g/t assumes US$1,400/oz. Au at a currency exchange rate of 0.75 US$ per C$; 99.95% payable gold; $4.30/oz offsite costs (refining, transport and insurance); a 3.0% NSR royalty; and a variable metallurgical recovery for gold that is anticipated to be 88% at cutoff.

5. The cut-off grade covers processing costs of $14.00/t, administrative (G&A) costs of $2.00/t, and low grade stockpile Rehandle costs of $1.50/t.

6. Estimates have been rounded and may result in summation differences.

The economic pit limits are determined using the Pseudoflow algorithm. The Marban deposit is planned as one pit split into four phases or pushbacks, and the Kierens-Norlartic deposit is split into six phases, two for Kierens, two for Norlartic, one for North North-Zone, and one for Gold Hawk. Pit designs are configured on 5 metre bench heights, with 6 to 9 metre wide berms placed every four benches, or quadruple benching. Benchface angles and subsequent inter-ramp angles are varied based on prescribed geotechnical zones. General pit sequencing is shown in Table 5 below.

Table 5: PEA Mine Plan Pit Sequencing

The mill will be fed with material from the pit at an average rate of 4.0 Mtpa (11ktpd). Cut-off grade optimization is employed, which feeds a low-grade stockpile south of the Marban deposit, which is planned for reclamation to the mill in the later years of the mine life. Overburden will be placed in a stockpile directly north of the Marban pit. Waste rock will be placed in stockpiles adjacent to all pits. Waste rock will also be used for construction of the tailings and water management pond northwest of the deposits.

Mining operations will be based on 365 operating days per year with two 12-hour shifts per day. An allowance of 10 days of no mine production has been built into the mine schedule to allow for adverse weather conditions.

The mining fleet will include diesel powered down the hole (DTH) drills with 165mm bit size for production drilling, diesel-powered RC drills for bench-scale grade control drilling, 12 cubed meter bucket size diesel hydraulic excavators and 13 cubed meter bucket sized wheel loaders for production loading, and 91 t payload rigid-frame haul trucks and 36 t articulated trucks for production hauling, plus ancillary and service equipment to support the mining operations. In-pit dewatering systems will be established for each pit. All surface water and precipitation in the pits will be handled by submersible pumps.

The mine equipment fleet is planned to be purchased via a lease financing arrangement. Maintenance on mine equipment will be performed in the field with major repairs to mobile equipment in the shops located near the plant facilities.

Milling

The Marban Process Plant employs standard Carbon-In-Leach (CIL) technology along with gravity concentration for gold recovery. The plant includes crushing, grinding, gravity concentration, classification, thickening, leach and CIL and detoxification before deposition into a Tailings Storage Facility.

The plant will treat 4.0 Mt of ore per year at an average throughput of 496 tonnes per hour. The mill design availability is 8,059 hours per year or 92%. The plant has been designed to realize an average recovery of 93.7% of the gold over the life of the project based on metallurgical testwork completed by SGS Lakefield in years 2012-2016. Of this, 30.4% of the gold will be extracted by the gravity circuit and a further 63.3% by the leach/CIL process.

Tailings storage capacity has been identified to safely accommodate the life of mine production as described in this PEA. Tailings produced over the first eight years of mine operation will be accommodated in a new tailings storage facility to be constructed northwest of the Kierens-Norlartic open pits The tailings storage facility perimeter containment dams will be constructed with waste rock and overburden from open pit mine development and will utilize the downstream construction method to ensure safe tailings storage over the long-term. Runoff from the tailings storage facility will be collected in an adjacent water management pond. Tailings production after Year 8 will be placed in the mined out Kierens-Norlartic Pit #4. Water will be reclaimed for reuse at the mill from the Water Management Pond and from the Kierens-Norlartic Pit #4 after Year 8. Tailings will be dewatered to approximately 60% solids by weight with a thickener located at the mill to reduce the volume of water being pumped between the mill and tailings storage facilities.

In order to allow mining of the Kierens-Norlartic pits, Kierens Creek will be diverted to the North. The 120kV power line crossing through the Marban property will be re-aligned along the south edge of the property boundary to free up room for the waste rock stockpile.

Capital and Operating Costs

The total pre-production capital cost for the Marban project is estimated to be $256 million including allowances for indirect costs and contingency of $24.5 million and $30.6 million, respectively. Sustaining capital costs are estimated at $199 million, including closure costs (Table 6). Operating costs are estimated at $28.2 per tonne milled (Table 7).

Table 6: Total Capital and Operating Costs

Table 7: Total Life of Mine Operating Costs

Gold Production

Projected gold production averages 115,000oz per year over the LOM, peaking at 161,000oz in year nine.

Toronto, August 27, 2020 – O3 Mining Inc. (TSX.V:OIII) (“O3 Mining” or the “Corporation”) “) is pleased to provide initial results from its summer outcrop stripping and channel sampling program on its Alpha property located 15 kilometres southeast of Val D’Or, Quebec.

Highlights: 

• 176 g/t Au, 38.0 g/t Ag, 0.1% Cu over 0.6 metres at Valdora Zone 4

• 9.0 g/t Au over 1.3 metres at Valdora Zone L17

Outcrop stripping and channel sampling began in July and to date twenty-two (22) stripping’s have been completed on the eastern part of the Alpha property, which includes the Valdora, Sabourin and Jolin zones (Sector 2) along the Skarn corridor and the Simkar zone (Sector 3) along the Anamaque corridor (Figure 1). Six (6) of the strippings were channel-sampled, with initial results from two strippings at Valdora returning 176 g/t Au, 38.0 g/t Ag, 0.1% Cu over 0.6 metres in channel O3AL-D20-03A-019 at Valdora Zone 4 and 9.0 g/t Au over 1.3 metres in channel O3AL-D20-01-015 at Valdora Zone L17 (Figure 2).

 “These initial results are very encouraging as they confirm that Valdora Zone 4 can deliver high-grade gold related to well-constrained deformation zones”, says O3 Mining President and CEO, Jose Vizquerra.  “We are always strategically thinking of ways to maximize value for our shareholders and minimize our environmental footprint. By combing the Mira artificial intelligence (AI) technology with our field exploration program, we are able to conduct more focused exploration and seize the potential our Alpha property has to offer”.   

The company strategically used the Mira Geoscience Ltd. innovative AI methodology and machine learning to focus their stripping and channel sampling efforts to the best possible targets for the summer stripping program. The program consists of approximately thirty (30) strippings, which are to be completed by the end of August and full assay results are expected by the beginning of October. These large outcrop exposures will greatly improve the understanding of the gold mineralization styles and controls within the Skarn and Anamaque corridors of the Alpha property, which will translate into a more accurate geological model and more robust drilling targets.

The drilling program in Sectors 2 and 3 is set to begin this fall with a planned meterage of approximately 40,000 metres to be completed before the end of March 2021. 

Drill Holes

The gold mineralization at Valdora Zone 4 is associated with a 15-metre-wide, E-W trending deformation zone. The zone is characterized by sheared and carbonatized gabbro and a coarse-grained felsic dyke with locally up to 30% narrow quartz-pyrite-chalcopyrite shear veins.  Scattered shallow historical drill holes traced this structure over 700 meters.  It remains open in all directions.

The gold mineralization at Valdora Zone L17 is associated with sheared and carbonatized mafic volcanics containing up to 1% pyrite-pyrrhotite stringers with narrow quartz-tourmaline-pyrite tension veins.  Channels cut every five meters traced the gold-bearing structure over the entire 40-metre-long exposed outcrop.  Valdora Zone L17 is located approximately 200 meters north of Valdora Zone 4, strikes E-W, and was the object of limited shallow historical drill holes.

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 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, which forms part of the Osisko Group of companies, is a mine development and 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 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 also has a portfolio of assets in the James Bay and Chibougamau regions of Québec.

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 restart of operations; 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 the Corporation nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. The Corporation does not undertake, 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

Toronto, August 17, 2020 – O3 Mining Inc. (TSX.V:OIII) (“O3 Mining” or the “Corporation”) “) is pleased to announce the commencement of drilling on its Malartic property situated midway between the towns of Val D’Or and Malartic, Quebec, and 12 kilometres from the Canadian Malartic Mine.

Following the completion of the summer drill program at East Cadillac, one drill has been mobilized to the Malartic property to expand existing zones along strike and at depth and to explore regional targets. The drilling will focus on the extensions of the Orion 8 (historic production of 22,252 oz Au at 5.82 g/t), Gold Hawk, Malartic H, North Shear and North-North zones located near the Marban deposit, where the company is currently conducting a Preliminary Economic Assessment (PEA).  Additionally, regional targets around Marban will be tested.  Approximately 30,000 metres out of the 150,000-metre drilling program has been allocated for the Malartic property.

“The Marban project is a very important asset in our multimillion-ounce portfolio” says President and CEO, Jose Vizquerra. “To begin drilling the extension of Marban at Gold Hawk is a very important milestone, because we will be able to test the high-grade potential at depth and along strike. The positive results at Gold Hawk will positively impact our Marban project”

The Malartic property is located approximately 3 kilometres north of the Cadillac Larder-Lake break and contains the Marbenite, Norbenite and North shears that run west-northwest across the property over more than 10 kilometres (Figure 1). The mineralization is mainly distributed along those shears and consists of quartz veining with disseminated pyrite hosted in iron-rich basalt and intermediate to felsic dykes within ultramafic flows. The Marbenite shear is related to the Marban deposit, the Gold Hawk zones and the Orion 8 zone. The Norbenite shear is related to the Norlartic and the Kierens deposits and the North shear to the North zone. The property also hosts the down-plunge extension of the mineralization related to the former Camflo mine. The mine infrastructure crosses the border of the Malartic property around level 2400, 800 metres below the surface and it has been mined out to a depth of 1,200 metres inside the property.  The Camflo mine operated from 1965 to 1992 and produced 1.65Moz Au at 5.8 g/t (Quebec Ministry of Energy and Resources).  Historic intervals on the property have the potential to deliver high-grade results distributed in many mineralized zones.

Drill Holes

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”).

About O3 Mining Inc.

O3 Mining, which forms part of the Osisko Group of companies, is a mine development and 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 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 also has a portfolio of assets in the James Bay and Chibougamau regions of Québec.

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 restart of operations; 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 the Corporation nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. The Corporation does not undertake, 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

Toronto, August 6, 2020 – O3 Mining Inc. (TSX.V:OIII) (“O3 Mining” or the “Corporation”) “)”) is pleased to announce it has engaged Mira Geoscience Ltd. (“Mira”) to conduct modelling and exploration targeting over its Alpha property in Val D’Or, Québec, using artificial intelligence (“AI”). O3 Mining seeks to actively minimize exploration risks and mitigate costs by using proven cutting-edge technology.

Mira used drilling and mapping databases, geochemical samples, Induced Polarization (IP), Electromagnetic (EM), magnetic and gravity datasets and other public data, to provide a regional scale targeting model of the Alpha Property to assist with resource expansion and regional exploration. A total of 661,760 metres in 2,400 drill holes, over 2,000 surface assays, 160,000 assays for gold and base metals plus 25,000 multi element assays, 400 line kilometres of IP, 5,500 line kilometres of Mag and over 700 line kilometres of EM were used.

“The Alpha property is an 80 square kilometre property located in the heart of the Val D’Or district hosting approximately 40 historical gold and copper-gold zones in numerous geological environments. Therefore, prioritization of drilling targets is key to maximize probabilities to rapidly discover significant mineral deposits on the property” says Jose Vizquerra, President and CEO of O3 Mining. “The application of the Mira innovative AI methodology is part of an integrated strategy to accomplish this task and come up with the best targets, which in turn will produce the best results and bring the most value to our shareholders.”

The deliverables produced for O3 Mining include the following:

1. Regional scale interpretation including surfaces from structural and stratigraphic modelling from the SKUA platform in the Gocad Mining Suite© software (“GMS”);

2. Intrusion surfaces from unconstrained and geometry inversion of magnetic data;

3. Leapfrog dynamic model; and

4. Targeting voxet with constrained inversion results, geochemistry interpolation, feature engineered variables and prospectivity score results

Using the data populated into a 3D voxet comprising cells of 25m x 25m x 25m, Mira conducted different targeting exercises combining knowledge-driven and data-driven (supervised machine learning) methods. The knowledge-driven exercise combined the experience of O3 Mining’s geologists using an index overlay approach to generate mineralization probabilities throughout the model. The drilling information was used to construct predictive models using a random forest classification approach. Once the predictive model was deemed strong enough in making an accurate prediction on known mineralization, it was applied to the voxet to estimate the likelihood of each cells to be mineralized. By combining the different prospectivity scores produced by the targeting exercises, Mira produced a set of mineral prospectivity indices (MPI) for the different types of mineralization observed on the Alpha Property (Figure 1).

In parallel with the collaborative work with Mira, O3 Mining is currently executing a stripping campaign on selected mineralized areas to improve understanding of the geology and mineralization controls within the four sectors on the property.  The results are fed back into the Mira modelling to ensure that the AI process is supported with verified field observations.

This work started in June 2020 and will extend into September 2020.  The results will be made public once the program is completed and full assay results are processed.  O3 Mining believes that the combined Mira modelling, the in-depth knowledge of the property geology and the results of the stripping campaign will provide a strong base to the upcoming aggressive 150,000 metre drilling campaign slated to be executed between September 2020 and April 2021.

About the Alpha Property

The Alpha property is located 5 kilometres (km) southeast of Val D’Or, Quebec, in the prolific,    gold endowed  Abitibi Subprovince of Canada. The property has been explored by various operators since the 1930’s with more than 2,400 drill holes completed since that time. The property is comprised of 8,325 hectares of contiguous of claims owned 100% by O3 Mining and 91 hectares   in 6 claims under option from Golden Valley Mines Ltd., of which O3 has the option to acquire 80% interest.

 Geologically, the Alpha property encompasses four major mineralized structures. The dominant feature underlying the property is the Cadillac Larder-Lake Break; a regional fault zone that separates metasedimentary rocks of the Pontiac Group on the south side from predominantly volcanic rocks on the north. Within the volcanic rocks, the property hosts atypical skarn mineralization related to brecciated structures surrounding the East Sullivan pluton and the

Callahan intrusion. It also contains the southeastern end of the Sigma-Lamaque corridor where gold mineralization is related to quartz tourmaline veins in small intrusion bodies. The fourth structure is the Anamaque gabbroic sill, which hosts the former Simkar mine. This large property package hosts a variety of geological environments favourable for gold mineralization, including those, which are known elsewhere to host large gold deposits.

About Mira Geoscience Ltd.

Mira Geoscience stands for technology and solutions for the best geoscience-based business decisions. Since 1999, Mira has pioneered the application of advanced geological modelling, 3D-GIS technology, and 4D multi-disciplinary data management in the mining industry through the integrated “Common Earth Model”. Mira supplies the mining industry with practical and cost-effective multi-disciplinary 3D and 4D modelling and data management solutions for mineral exploration and geotechnical hazard assessment. Mira believes in the power of knowledge, data, and technology integration to address clients’ geoscience-based challenges. An approach based on the strength of committed commercial, technology, and R&D partnerships. Mira’s team deploys best-in-class technology for the integrated interpretation of geological, geophysical, geochemical, and geotechnical data.Qualified Person

The scientific and technical content of this news release has been reviewed, prepared, and approved byMr. Sébastien Vigneau. (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”).

About O3 Mining Inc.

O3 Mining, which forms part of the Osisko Group of companies, is a mine development and 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 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 also has a portfolio of assets in the James Bay and Chibougamau regions of Québec.

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 restart of operations; 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 the Corporation nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. The Corporation does not undertake, 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

Toronto, July 30, 2020 – O3 Mining Inc. (TSX.V:OIII) (“O3 Mining” or the “Corporation”) “) is pleased to provide new drilling results from the East Cadillac Property in Val D’Or, Quebec, as part of its well-funded 150,000 metres drilling program.

Current drilling on the East Cadillac property is focused on the North Contact zone, which continues to show continuity laterally and at depth. The North Contact zone is located along the northern splay of the Cadillac Larder-Lake Fault (CLLF) which can be traced over 6 kilometres within the property. It consists of stacked mineralized lenses located at or near the sheared contact of small units of mafic volcanic rocks with the surrounding wacke. The summer campaign consists of follow-up holes at 100 metre spacing to expand the known mineralization at the North Contact. The company has completed 6,300 metres of drilling in fifteen drill holes on the North Contact, and three more holes remain to be completed.

Drilling Highlights:

• 17.8 g/t Au over 1.1 metres in hole O3EC-20-032

• 1.7 g/t Au over 10.3 metres in hole O3EC-20-030

These drill holes have been drilled 100 metres below and east of drill hole O3EC-20-007, which returned 3.1 g/t Au over 7.0 metres including 4.6 g/t Au over 2.9 metres, and including 5.3 g/t Au over 1.5 metres from the winter campaign this year (See Press Release April 9th, 2020). Assay results from eight drill holes are pending. All drill holes intersected the North Contact structure thus demonstrating its continuity over 700 meters laterally and 500 meters vertically. The zone remains open in all directions.

“The most recent drilling along the North Contact zone has exceeded our expectations and provide a solid foundation for our next winter campaign. Results from the North Contact demonstrate the strength and thickness of the mineralized envelope and potential for growth along with the 6 kilometre wide structure on our East Cadillac Property,” said Jose Vizquerra, President and CEO, O3 Mining. The company remains focused on strategically investing in its drilling capabilities at its properties as they reach different stages of development such as mine development, resource development, and advanced exploration.

Drilling at the North Contact will resume in the winter following freezing conditions. The winter campaign will focus on the eastern extension of the North Contact zone with higher gold grades expected as a major NNW-SSE structure is approached to the east. The winter campaign will also target the extensions of the high-grade zones intersected during the winter 2020 campaign in holes O3EC-20-020 and O3EC-20-023 (See Press Release July 7th, 2020).

O3EC-20-032 intersected three mineralized lenses. The northernmost lens returned 17.8 g/t Au over 1.1 metres associated with an interval consisting of 30% quartz-tourmaline-calcite veinlets and disseminated arsenopyrite and pyrite, related to a graphitic fault within andesite.

O3EC-20-030 intersected three mineralized lenses. The first northernmost lens returned 3.1 g/t Au over 3.6 metres associated with a strong tourmaline altered andesite consisting of 30% quartz veins and veinlets with 3% disseminated arsenopyrite. The southernmost lens yielded 1.7 g/t Au over 10.3 metres. This interval contains 30% quartz veins and veinlets with tourmalinized selvages associated with disseminated arsenopyrite, pyrite, and pyrrhotite within a basalt. The whole interval has been cross-cut by late ankerite veinlets associated with the brecciation of the quartz veins and veinlets.  Visible gold is associated with the quartz veining.

Qualified Person

The scientific and technical content of this news release has been reviewed, prepared, and approved byMr. Sébastien Vigneau. (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, which forms part of the Osisko Group of companies, is a mine development and 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 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 also has a portfolio of assets in the James Bay and Chibougamau regions of Québec.

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 restart of operations; 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 the Corporation nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. The Corporation does not undertake, 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

Toronto, July 7, 2020 – O3 Mining Inc. (TSX.V:OIII) (“O3 Mining” or the “Corporation”) “) is pleased to provide new drill results from its East Cadillac property located in Val D’Or, Quebec.

Drilling Highlights:

• 46.4 g/t Au over 1.3 metres in drill hole O3EC-20-023, located to the north of Nordeau East

• 16.6 g/t Au over 1.5 metres in drill hole O3EC-20-020, located northeast of Nordeau West

The Nordeau East zone is located 1.7 km east of the Nordeau West zone, within the wacke north of the mafic volcanic package related to the Simon West and Nordeau West zones. The mineralization is related to altered iron formation bands and surrounding wacke. During the winter campaign, six holes were drilled on the Nordeau East zone approximately 200 m apart, to test the down-dip extension of mineralization found near the surface. Drill hole O3EC-20-023 intersected this new high-grade mineralized zone towards the beginning of the hole at approximately 250 meters north of the Nordeau East zone. Short historical drill holes 300 meters to the east reported significant intercepts at a similar stratigraphic level. The zone is open in all directions and warrants follow up.

The Nordeau West zone is located just east of the former Chimo mine and covers the same prospective stratigraphy. While targeting the Nordeau West zone at depth, hole O3EC-20-020 intersected this new zone at the beginning of the hole at about 250 meters north of the Nordeau West zone.  It is open in all directions and warrants follow up.  Several historical drill holes located between 500 and 1,500 meters to the west intersected narrow high-grade zones at a similar stratigraphic level, suggesting potential connection and requires verification. Both areas will require to follow up drilling in the winter months.

“The presence of the stacked zones and their high-grade quality within the prospective package at East Cadillac further enhance the strength of the gold-bearing system and opens up additional exploration potential,” says Jose Vizquerra, president and CEO, O3 Mining. “These results display additional exploration potential at our East Cadillac property. O3 Mining’s robust investment in its drilling capacity and recent financing allow the company to expand its exploration capacity across its properties.”

O3EC-20-020 intersected 16.6 g/t Au over 1.5 metres. Mineralization consists of 1% pyrite, pyrrhotite, and arsenopyrite associated with 10% smokey-quartz veinlets in wacke. The interval does not display a distinctive alteration assemblage or deformation zone.

O3EC-20-023 intersected 46.4 g/t Au over 1.3 metres. Mineralization consists of 1% disseminated pyrite, pyrrhotite, and arsenopyrite, associated with 30% smokey quart – calcite – chlorite – biotite veinlets in the graywacke wall rock.  There is no clear alteration assemblage.

About the East Cadillac Property

The East Cadillac property covers approximately 20 km of a prolific segment of the easternmost part of the Cadillac Larder Lake Fault (CLLF) corridor and surrounding the Chimo gold mine, with a historic production of 379,000 oz Au with an average grade of 4.0 g/t Au. Significant intercepts have been obtained by previous explorers on the East Cadillac property, associated with mineralization styles similar to the ore zones present at the Chimo mine.

Qualified Person

The scientific and technical content of this news release has been reviewed, prepared and approved by       Mr. Louis Gariepy. (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 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, which forms part of the Osisko Group of companies, is a mine development and 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 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 also has a portfolio of assets in the James Bay and Chibougamau regions of Québec.

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

Toronto, June 25, 2020 – O3 Mining Inc. (TSX.V:OIII) (“O3 Mining” or the “Corporation”) “) is pleased to announce it has partnered with VRIFY Technology Inc. (“VRIFY”) to develop an interactive presentation of its properties in Val D’Or, Quebec, including virtual tours and 3D models of the Marban and Orenada deposits. Investors can access O3 Mining’s content from any web browser, anywhere in the world: https://o3mining.com/investors/vrify-presentation/

The interactive content enhances simple, readily accessible, and digestible information on its project sites by increasing transparency and allowing investors to see firsthand the potential value of projects, learn about the Val D’Or community, visit exploration sites, enter underground workings and review 3D renderings of deposits from wherever they may find themselves.

Investors can expect to see the Company’s interactive content updated regularly alongside drill results and other exciting catalysts in the coming months to provide additional context to the value O3 Mining continues to create for its shareholders.

“We are excited to partner with VRIFY as we were looking for options to bring investors closer to our operations amidst current COVID-19 restrictions. Through VRIFY, we’re bringing anyone who is interested directly into our properties where they can now visualize our innovative work in 3D and understand its potential value even better than before”, said Jose Vizquerra, President and CEO, O3 Mining. “As many of us continue to work remotely, it’s exciting to safely showcase our properties and display the progress we’ve made alongside our proposed developments.”

O3 Mining’s CEO, Jose Vizquerra, discusses the company’s partnership with VRIFY to develop an interactive presentation of its properties in Quebec, including virtual tours and interactive 3D models.

O3 Mining’s partnership with VRIFY follows the company’s recent C$40.2 million “Bought-Deal” and 150,000 metres drilling program announcements, which highlight the company’s momentum. The Corporation is forward-looking and determined to innovate mining for the twenty-first century.

About O3 Mining Inc.

O3 Mining, which forms part of the Osisko Group of companies, is a mine development and 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 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 also has a portfolio of assets in the James Bay and Chibougamau regions of Québec. 

About VRIFY Technology Inc.

VRIFY’s technology communicates a company’s value with presentation tools that simplify information and translate tough to digest data into compelling content. The platform allows companies to showcase project data with interactive 3D models, host global site visits of remote assets using virtual tours, and present content to devices, anytime, anywhere in the world

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 restart of operations; 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 the Corporation nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. The Corporation does not undertake, 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